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LONDON (Capital Markets in AfricaIt was Day 13 of the COP26 summit, and even the trees inside the Glasgow venue were beginning to wilt. With the meeting running almost 24 hours over its scheduled time and the final outcome hanging in the balance, U.S. climate envoy John Kerry and his Chinese counterpart, Xie Zhenhua, huddled together deep in conversation. At one point Kerry grasped Xie’s shoulder, while China’s lead negotiator nodded and smiled as he enumerated points on…

LONDON (Capital Markets in Africa) – The agreement reached Saturday at global climate talks in Glasgow will be pivotal in the fight to stop global warming, U.K. Prime Minister Boris Johnson said.  The conference hosted by the U.K. produced a “game-changing agreement that the world needed to see,” Johnson said at a press conference in London on Sunday. Negotiators from almost 200 countries clinched a deal that broke new ground in the fight against climate…

JOHANNESBURG (Capital Markets in Africa) – Heineken NV agreed to buy South African wine and spirits maker Distell Group Holdings Ltd. for 2.2 billion euros ($2.5 billion), creating a new regional group to compete with larger rival Anheuser-Busch InBev SA and spirits giant Diageo Plc. The Dutch brewer made an offer of 180 rand a share that’s been recommended by Distell’s board, according to a statement on Monday. Heineken will also look to buy a majority stake…

LONDON (Capital Markets in Africa) – U.K. Prime Minister Boris Johnson is battling a mounting backlash over his attempt to protect a Conservative lawmaker found to have broken lobbying rules, with Parliament set to hold an emergency debate on Monday.Johnson was forced to perform a U-turn following widespread condemnation — including from fellow Tories — of his decision to try to tear up Parliament rules rather than accept the suspension of Owen Paterson, who was found…

LOME (Capital Markets in Africa) -Atani Bamaze was working his small plot of land, scything weeds down to the rust-colored soil, when he received a lifeline in the form of a text message. It was late 2020, and though Bamaze still didn’t know anyone sickened by Covid-19, the pandemic had disrupted his life all the same. The village in Togo where he lives with his wife and infant daughter relied on trade and travelers from…

LAGOS (Capital Markets in Africa) – As leaders at the United Nations climate summit in Glasgow, Scotland, thrash out how to rein in catastrophic levels of global warming, one of the most important deals is taking place on the sidelines. The Global Methane Pledge — a collective commitment to cut emissions of the potent greenhouse gas 30% by 2030 -– is signed by more than 80 countries so far, representing more than two-thirds of the…

JOHANNESBURG (Capital Markets in Africa) – South Africa’s ruling party faces an uphill battle to regain control of key towns in Monday’s municipal elections, with widespread outrage over poor services and crumbling infrastructure. The election of councilors in the 278 municipalities is the first since President Cyril Ramaphosa won control of the African National Congress in 2017 and set about trying to rebuild support for the party, which plummeted during his predecessor Jacob Zuma’s scandal-marred rule.Opposition party coalitions…