The Editorial Team

Biden’s Economic Package Risks Languishing in Senate Into 2022

NEW YORK (Capital Markets in Africa) – Senate Majority Leader Chuck Schumer insists the Senate will pass President Joe Biden’s nearly $2 trillion tax-and-spending package before Christmas, but there’s still much work to do and time is running short. A delay into the new year risks slowing momentum for Democrats who need this legislative victory behind them as they fight to maintain narrow majorities in the House and Senate in the 2022 midterm elections. The…

Living quietly in a Surrey village, is this really the man who invented Bitcoin?

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LONDON (Capital Markets in Africa) – The leafy lane is regularly described as one of the most expensive addresses in Britain, a Home Counties idyll where Premier Leaguefootballers now threaten the commuter-belt ascendancy of stockbrokers and other City types. The new-build mini-mansions and more established hacienda-style homes in the ‘Beverly Hills’ of Surrey are a far cry from Craig Wright’s urban, subtropical upbringing in Australia. There, as a troubled but intellectually precocious four-year old, he…

The Falling Knife Analogy Doesn’t Work for Bitcoin: Trader Talk

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NEW YORK (Capital Markets in Africa) – The big week for monetary policy is underway and market color points to nothing more than position fine-tuning until the first Federal Reserve headlines hit the wire. Or maybe, until early Wednesday morning for those intraday punters looking to make a quick run on the market. It could all prove anti-climactic in the end, especially if the Bank of England and the European Central Bank ask for more…

What Could Possibly Go Wrong? Biggest Economic Risks for 2022

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LAGOS (Capital Markets in Africa) – Economists have struggled to see ahead in the pandemic. They’re upbeat about next year, but could easily get blindsided again. The Covid years are littered with predictions that didn’t work out. For anyone looking ahead into 2022, that should be enough to give pause.Most forecasters, including Bloomberg Economics, have as their base case a robust recovery with cooling prices and a shift away from emergency monetary-policy settings. What could…

South African President Ramaphosa Has Covid With Mild Symptoms

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JOHANNESBURG (Capital Markets in Africa) – South African President Cyril Ramaphosa tested positive for Covid-19 and is receiving treatment for mild symptoms. “The president, who is fully vaccinated, is in self-isolation in Cape Town and has delegated all responsibilities to Deputy President David Mabuza for the next week,” the presidency said in a statement on Sunday. “The president is in good spirits but is being monitored by the South African Military Health Service of the South African…

International Pressure Piles on Mali to Stick to Vote Deadline

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BAMAKO (Capital Markets in Africa) – The Economic Community of West African States threatened over the weekend to impose new sanctions on Mali to compel the country’s military leaders to set a timetable for Feb. 27 elections that would restore democratic rule. Ecowas, as the regional economic bloc is known, is considering “economic and financial sanctions” from Jan. 1, according to a statement issued after a summit in Nigeria’s capital, Abuja, on Sunday. The bloc…

Covid Cases Surge in Nigeria After Discovery of Omicron Variant

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LAGOS (Capital Markets in Africa) – Nigeria’s daily Covid infections have jumped more than fivefold over the past week following the discovery of the omicron variant in the country of 200 million people. The average number of Nigerians who tested positive for the pathogen has risen to 451 a day for the week ending Dec. 12, compared with 76 in the preceding week, according to data from the National Center for Disease Control.The commercial hub…

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