Mugabe’s Era Is Ending as Zimbabwean Military Seizes Power

Mugabe’s Era Is Ending as Zimbabwean Military Seizes Power

HARARE (Capital Markets in Africa) – Zimbabwe’s military seized power and detained 93-year-old President Robert Mugabe in a struggle over the succession of the only leader the nation has ever known. Mugabe told President Jacob Zuma by phone that he’s being confined to his home and is fine, the South African presidency said in a statement. Zimbabwe Defense Forces spokesman Major-General Sibusiso Moyo said in a televised address that the military action wasn’t a coup and was aimed at…

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Matt Levine’s Money Stuff: Venezuelan Debt and Bitcoin Claims

Matt Levine’s Money Stuff: Venezuelan Debt and Bitcoin Claims

LAGOS (Capital Markets in Africa) – When a sovereign nation defaults on its debt, its creditors have two basic choices: Participate in the inevitable negotiations and accept restructured debt — probably with a substantial haircut — in exchange for their pre-default claims; or Hold out from the negotiations and engage in years of of time- and labour-intensive unpleasantness to try to enforce their original pre-default claims against the country. Most people usually go with option 1: Usually when…

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Factions Threaten South Africa’s ANC Leadership Conference Plans

Factions Threaten South Africa’s ANC Leadership Conference Plans

JOHANNESBURG (Capital Markets in Africa) – South Africa’s ruling party is battling to calm internal divisions that are threatening to disrupt preparations for its national conference next month as factions engage in a bitter fight over who will replace President Jacob Zuma as its leader. The African National Congress’s National Executive Committee decided on Monday to confirm the leadership of the Eastern Cape province after a disputed conference in that region in September, according to two…

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The International Islamic Banking Summit Africa: Djibouti 2017 opened today with more than 250 Islamic finance leaders

The International Islamic Banking Summit Africa: Djibouti 2017 opened today with more than 250 Islamic finance leaders seeking to capitalize on the surge in new Sukuk opportunities across Africa  Held under the Patronage of the President of the Republic of Djibouti and hosted by The Central Bank of Djibouti, the International Islamic Banking Summit Africa 2017 convened global industry leaders to boost economic development and facilitate greater trade and investment flows between Africa, the OIC…

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FinTech is accelerating the digital transformation of banking in Africa

FinTech is accelerating the digital transformation of banking in Africa

FinTech is accelerating the digital transformation of banking in Africa say more than 200 international experts gathered at the Finnovation Ethiopia event – but highlight that collaboration is the way forward Due to their potent blend of trail‐blazing technology and disruptive innovation, FinTech players are positively impacting the digital transformation of financial services in Africa and, in turn, further spurring incumbent banks to rapidly ramp‐up their own innovation initiatives to meet the financial needs of under‐served…

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As Leadership Vote Looms, Four Scenarios for South Africa’s ANC

As Leadership Vote Looms, Four Scenarios for South Africa’s ANC

JOHANNESBURG (Capital Markets in Africa) – South Africa’s ruling African National Congress is due to elect a new leader next month and the race is proving to be one of the most hotly contested and divisive in the 105-year-old party’s history. The front-runners to succeed President Jacob Zuma are his deputy Cyril Ramaphosa and Nkosazana Dlamini-Zuma, Zuma’s ex-wife and the former chairwoman of the African Union Commission, with ANC Treasurer-General Zweli Mkhize seen as a possible compromise candidate. While it remains guesswork who’ll…

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Analyst says 94% of bitcoin’s price movement over the past four years can be explained by one equation.

Analyst says 94% of bitcoin’s price movement over the past four years can be explained by one equation.

LAGOS (Capital Markets in Africa) – Tom Lee, cofounder of FundStrat Global Advisors, is bullish on bitcoin and has a unique way of valuing the cryptocurrency. His short-term valuation model is built on Metcalfe’s law, and he says it can explain the vast majority of bitcoin’s volatility. He explained his reasoning to Business Insider on our cryptocurrency show, “the bit.” Metcalfe’s law basically says that the value of a network is proportional to the square of…

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