The Editorial Team

Why Methane Is Climate’s Low-Hanging Invisible Fruit: QuickTake

LAGOS (Capital Markets in Africa) – Methane is the second-largest contributor to global warming after carbon dioxide. But new and better techniques to spot major emitters of the odorless, colorless gas have pushed curbing it up climate to-do lists. Scientists view reducing methane emissions from the fossil fuel industry as the cheapest and easiest way to hold down global temperatures in the near term. That could counterbalance the initial warming effect from declining use of…

Biden’s Expansive Economic Agenda Teed Up for Senate Endorsement

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NEW YORK (Capital Markets in Africa) – President Joe Biden’s big plans for the U.S. economy are on the verge of passing their first major legislative tests in the Senate, leaving their future to intra-party struggles between Democratic progressives and moderates. A broad group of Democratic and Republican senators is prepared to place a bipartisan stamp of approval on a cornerstone of the Biden agenda — a $550 billion infrastructure program — in a vote…

Mauritius Learns the Limits of Biden’s Invocation of the International ‘rules-based Order’

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PORT LOUIS (Capital Markets in Africa) — Among President Biden’s favorite terms, “rules-based order” is near the top of the list. Used by his administration as a foreign policy mantra, it means supporting the international laws and institutions that have kept the world relatively peaceful since World War II. Russia’s seizure and annexation of Crimea from Ukraine has been cited as a violation of the rules, as has Syrian President Bashar al-Assad’s use of chemicals…

Digital Currency Would Be Critical National Infrastructure – CBN

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The Central Bank of Nigeria (CBN) has said its proposed digital currency, known as e-Naira, will be treated as a critical national infrastructure to protect it from operational and cyber-security risks. In a document obtained by THISDAY, which offered more insights into the digital money regime, especially the potential risks and mitigation measures, the apex bank said there would be a co-existence of traditional payment systems and the CBN Digital Currency (CBDC) to address interoperability…

Uber Nigeria Partner Raises $23 Million to Lend to Drivers

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LAGOS (Capital Markets in Africa) – Moove, a mobility fintech startup, has raised $23 million to provide financing to Uber Technologies Inc. drivers to buy cars across the sub-Saharan Africa region. The funding round, which takes the total capital of Moove to $68.2 million, was led by Speedinvest and U.S.-based Left Lane Capital, with the participation of its existing investor, Emso Asset Management. The company uses data on ride-hailing platforms, such as earnings and performance,…

Sweet Spot in Emerging Debt Has Goldman Warily Seeking Yield

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LAGOS (Capital Markets in Africa) – Quasi-sovereign bonds, notes from companies at least partially owned by a government, are in vogue for firms including Goldman Sachs Group Inc. and Barings LLC that are seeking strong returns amid lots of economic uncertainty. This debt, which includes some credit risk, pays more than sovereign notes and is often considered safer than pure corporate bonds. A Bloomberg Barclays gauge of emerging-market company and quasi-sovereign dollar debt returned 5.4% since the…

Kenya’s 91-Day Bills Yield Drops to Lowest in Almost 15 Years

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NAIROBI (Capital Markets in Africa) – Kenya’s 91-day Treasury Bills yield dropped to the lowest in about 15 years as banks sought safer assets amid the coronavirus pandemic. The weighted average yield of the notes was at 6.513% at last week’s auction, the lowest since September 2006, according to Central Bank of Kenya data. The rate for 182-day bills was 7.046% and 364-day securities at 7.418%. “High liquidity has been attributed to cautiousness by banks amid the…

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