Features | - Part 233

Chinese Furniture Fashion Ravages West Africa’s Savannas

LAGOS, Capital Markets in Africa: No one paid much attention to the gnarled, yellow-blossomed rosewood trees dotted around farmsteads in northern Ivory Coast until Chinese-backed buyers started offering money for the timber. Fast forward five years and Ivory Coast is looking back at a tumultuous time in the logging industry, with confusion over permits, illegal harvesting of trees, seizures of trucks, and finally, a blanket ban on rosewood exports in 2014. “We simply had no idea; for…

Despite headwinds, Africa’s economy is still strong

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: The African Development Bank, in its latest African economic outlook, forecasts economic growth in Africa to be 3.7% for 2016, almost eight-tenths of a percent lower than its forecast for 2015 (4.5%). This lower forecast is as a result of a mixture of factors: the dip in the price of commodities, the economic slowdown in China, droughts in parts of Eastern and Southern Africa, rising levels of insecurity in…

Nigeria’s AMCON to Lease Seized Property to Plug Funding Gap

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: The Nigerian state-owned agency set up six years ago to take on bad debts and rescue the nation’s banking industry from collapse may lease out properties seized from companies that are failing to repay loans as it grapples with its own cash crunch. The Asset Management Corp. of Nigeria, or AMCON, may introduce the “real-estate investment scheme” by the end of the year to raise money to meet its bond repayments, Chief…

Local Vote May Spur ANC Policy Turn on South African Economy

Posted on by The Editorial Team

Johannesburg, Capital Markets in Africa: South Africa’s most competitive elections since the end of white minority rule in 1994 may force the ruling African National Congress to alter its economic course to address criticism that it’s not doing enough to tackle poverty or reduce a 27 percent unemployment rate. Investors will probably welcome any slippage in the ANC’s dominance in Wednesday’s municipal elections because it could push the party to do more to attract investment…

Vodafone Uses Voiceless Africa Plans to Get Tech-Savvy Youth

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Inside a packed Vodafone Group Plc store in the Zambian capital of Lusaka, a group of the city’s tech-savvy students wait in line for wireless modems they hope will transform their ability to surf the internet. They don’t even care that they won’t be able to get a voice plan to talk over the British mobile operator’s network since Vodafone doesn’t have a license for that. “The coming of Vodafone is…

Heineken Sales Slow in Africa as Low Oil Prices Curb Demand

Posted on by The Editorial Team

LAGOS, Capital Markets in Africa: Heineken NV, the world’s third-largest brewer, reported sales growth that missed expectations as demand waned in key regions such as Africa, Russia and the Middle East. Second-quarter beer volumes dipped 5.9 percent on an organic basis across Africa, the Middle East and Eastern Europe, hurt by a weakening environment in Russia and Nigeria where low oil prices and falling currencies are denting growth. Chief Executive Officer Jean-Francois van Boxmeer said cuts to…

Top Tips For Independent Day Traders

Posted on by The Editorial Team

Day trading can seem like an impossible struggle for the newcomer. Yet by following a few simple guidelines it very quickly becomes a way of life and a great way to earn money and success. To the outsider, it all seems very risky, yet with patience and dedication, the process can be very rewarding. In this article, we will give some top tips to traders with financial knowledge looking to start trading independently. These points…

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