Oligopolies grip Nigeria’s markets: About five companies in Nigeria control market and prices in 10 sectors, according to a central bank official. Nigeria's central bank is struggling with inflation at 18-year high. https://bloom.bg/3PncEZG
Gabon bonds recoup: Gabon’s dollar bonds rebounded from a two-day slump as the country’s lowered debt-servicing burden helped to calm investors fretting over this week’s military coup. https://bloom.bg/3PlWX55
E-Payments spike in East Africa: Retailers such as grocers and department stores are driving the uptake of digital payments in East Africa, with buyers preferring to pay online instead of using physical debit or credit cards. https://bloom.bg/3P1cKVD
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Gabon bonds recoup: Gabon’s dollar bonds rebounded from a two-day slump as the country’s lowered debt-servicing burden helped to calm investors fretting over this week’s military coup. https://bloom.bg/3PlWX55
E-Payments spike in East Africa: Retailers such as grocers and department stores are driving the uptake of digital payments in East Africa, with buyers preferring to pay online instead of using physical debit or credit cards. https://bloom.bg/3P1cKVD
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Bloomberg.com
Oligopolies Curb Nigeria’s Efforts to Tame Inflation, Study Says
Reforms are needed in Nigeria to increase competition and reduce the ability of large and dominant firms to dictate the cost of goods and services in Africa’s most populous nation, a central bank official said.
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India's new affluent: Luxury retails including Hermes and Christian Louboutin are paying skyrocketing rent for space in historic real estate and access to India's rising upper class. http://tinyurl.com/2555kzy7
Strained rice market: Rice prices in Asia jumped back near the highest level in almost 15 years after India placed restrictions on all of its exports. http://tinyurl.com/muyws39u
G-20 snub: President Xi Jinping began his third term with a diplomatic blitz that bolstered his image as a global statesman. Now, he’s set to skip the world’s premier international forum of world leaders — and it’s not exactly clear why. http://tinyurl.com/mwarba73
Strained rice market: Rice prices in Asia jumped back near the highest level in almost 15 years after India placed restrictions on all of its exports. http://tinyurl.com/muyws39u
G-20 snub: President Xi Jinping began his third term with a diplomatic blitz that bolstered his image as a global statesman. Now, he’s set to skip the world’s premier international forum of world leaders — and it’s not exactly clear why. http://tinyurl.com/mwarba73
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Zimbabwe President Sworn In: President Emmerson Mnangagwa was sworn in for a second and final term after being declared the winner the elections that international observers said were deeply flawed and the opposition rejected as a sham. https://bloom.bg/3qX7Vog
Civilian Rule Restoration: Gabon’s new military ruler, General Brice Oligui Nguema, called for a referendum on a new constitution and an overhaul of the OPEC member state’s electoral code, as he pledged to restore civilian rule at his inauguration. https://bloom.bg/45TjawQ
Budget Blowout: South Africa’s finance ministry warned other government departments that it is confronting significant budgetary challenges and spending needs to be reined in if it is to meet its debt-stabilization targets. https://bloom.bg/3EqC2HM
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Civilian Rule Restoration: Gabon’s new military ruler, General Brice Oligui Nguema, called for a referendum on a new constitution and an overhaul of the OPEC member state’s electoral code, as he pledged to restore civilian rule at his inauguration. https://bloom.bg/45TjawQ
Budget Blowout: South Africa’s finance ministry warned other government departments that it is confronting significant budgetary challenges and spending needs to be reined in if it is to meet its debt-stabilization targets. https://bloom.bg/3EqC2HM
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Bloomberg.com
Zimbabwe Leader Sworn In for Second Term After Disputed Vote
Zimbabwean President Emmerson Mnangagwa was sworn in for a second and final term after being declared the winner of last month’s elections that international observers said were deeply flawed and the opposition rejected as a sham.
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G-20 explained: Here’s everything you need to know about the upcoming summit in India this week. https://trib.al/3NzdVtb
Election kickoff: A deluge of advertisements to greet G-20 leaders in India's capital is also serving as the unofficial start to Prime Minister Modi's campaign for next year's election. http://tinyurl.com/akaw9unu
India shining: With China increasingly isolated and the US seeking a developing-market champion, India is having a moment. Watch the first of a four-part video series, where we look at whether India has what it takes to become an economic powerhouse. http://tinyurl.com/mr3cexv8
India Edition: Looking for insightful commentary and in-depth analyses on India? Sign up here [ https://bloom.bg/3qEX2rh ] for our weekly newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
Election kickoff: A deluge of advertisements to greet G-20 leaders in India's capital is also serving as the unofficial start to Prime Minister Modi's campaign for next year's election. http://tinyurl.com/akaw9unu
India shining: With China increasingly isolated and the US seeking a developing-market champion, India is having a moment. Watch the first of a four-part video series, where we look at whether India has what it takes to become an economic powerhouse. http://tinyurl.com/mr3cexv8
India Edition: Looking for insightful commentary and in-depth analyses on India? Sign up here [ https://bloom.bg/3qEX2rh ] for our weekly newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
Bloomberg.com
Why This Year’s G-20 Meeting in India May Be a Turbulent Affair
Russia’s war in Ukraine is expected to overshadow this year's Group of 20 summit in India. Here's what the G-20 is and what to expect
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Climate Champion: Kenyan President William Ruto has staked a claim to be Africa’s leading voice on how to combat global warming. This week he led Africa’s inaugural climate summit in Nairobi and advocated a shift in approach from seeking aid to taking proactive measures. https://bloom.bg/3P6oiXH
South Africa GDP: South Africa’s economy grew faster than expected on improved output in the finance and manufacturing industries. The rand pared earlier losses and bond yields retreated from session highs after the data. https://bloom.bg/45Uktf2
French Troop Withdrawal: Niger’s ruling junta said discussions are under way that are expected to result in the rapid withdrawal of French troops, after the West African country ended a military cooperation agreement with its former colonial ruler. https://bloom.bg/3RgowOu
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
South Africa GDP: South Africa’s economy grew faster than expected on improved output in the finance and manufacturing industries. The rand pared earlier losses and bond yields retreated from session highs after the data. https://bloom.bg/45Uktf2
French Troop Withdrawal: Niger’s ruling junta said discussions are under way that are expected to result in the rapid withdrawal of French troops, after the West African country ended a military cooperation agreement with its former colonial ruler. https://bloom.bg/3RgowOu
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Bloomberg.com
Kenya’s Ruto Positions Himself as Climate Champion: Next Africa
Welcome to Next Africa, a twice-weekly newsletter on where the continent stands now — and where it’s headed.
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🇮🇳 Hello, here are today's top stories to keep you up to date on the upcoming G-20 summit in India.
☀️ India's hottest September since 1938: Scorching heat in New Delhi is set to greet world leaders when they arrive for the G-20 summit this week, where climate change is set to be among key issues on the agenda. https://trib.al/JW8ilSC
🤔 Name change: Modi’s government has replaced India with Bharat, an ancient Sanskrit word, in dinner invitations for the G-20 summit, echoing his party’s Hindu nationalist push to erase from society what it deems to be colonial-era names. https://trib.al/MfndeTx
🪷 India's moment: Prime Minister Narendra Modi has revamped India’s politics — and now he’s looking to the G-20 summit to cement a role at the center of a new global order.
Balancing ties with Washington, Beijing and Moscow is already proving to be a tough task. Read The Big Take. https://trib.al/1jckESP
🗞️ India Edition: Looking for insightful commentary and in-depth analyses on India?
Sign up here [ https://bloom.bg/3qEX2rh ] for our weekly newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
☀️ India's hottest September since 1938: Scorching heat in New Delhi is set to greet world leaders when they arrive for the G-20 summit this week, where climate change is set to be among key issues on the agenda. https://trib.al/JW8ilSC
🤔 Name change: Modi’s government has replaced India with Bharat, an ancient Sanskrit word, in dinner invitations for the G-20 summit, echoing his party’s Hindu nationalist push to erase from society what it deems to be colonial-era names. https://trib.al/MfndeTx
🪷 India's moment: Prime Minister Narendra Modi has revamped India’s politics — and now he’s looking to the G-20 summit to cement a role at the center of a new global order.
Balancing ties with Washington, Beijing and Moscow is already proving to be a tough task. Read The Big Take. https://trib.al/1jckESP
🗞️ India Edition: Looking for insightful commentary and in-depth analyses on India?
Sign up here [ https://bloom.bg/3qEX2rh ] for our weekly newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
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Mozambique Freight Relief: Mining companies, losing out on billions of dollars in sales due to South Africa’s logistics bottlenecks, could soon have a quicker route to ports in neighboring Mozambique. https://bloom.bg/3rbymGO
Africa Climate Summit Concludes: African leaders called for wide-ranging debt relief and a flood of climate finance to help the continent boost its electricity generation from renewable sources almost sixfold by 2030. https://bloom.bg/3EsPtHj
Pressure to Ditch Coal: South Africa must accelerate its transition to renewable energy to avoid export penalties being threatened by key trading partners, warns government official. https://bloom.bg/45ZyhVD
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Africa Climate Summit Concludes: African leaders called for wide-ranging debt relief and a flood of climate finance to help the continent boost its electricity generation from renewable sources almost sixfold by 2030. https://bloom.bg/3EsPtHj
Pressure to Ditch Coal: South Africa must accelerate its transition to renewable energy to avoid export penalties being threatened by key trading partners, warns government official. https://bloom.bg/45ZyhVD
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Bloomberg.com
South African Mines to Get a Faster Route to Mozambique Port
South Africa’s mining companies, losing out on billions of dollars in sales due to logistics bottlenecks, could soon have a quicker route to ports in neighboring Mozambique.
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🇮🇳 Hello, here are today's top stories to keep you up to date on the upcoming G-20 summit in India.
Getting ready: From deploying fighter jets to chasing away packs of monkeys, India is pulling out all the stops as the world’s most powerful leaders descend on New Delhi for the G-20 summit. https://trib.al/AN3sbeQ
Coal problem: Modi’s green pitch to the global leaders this week will include new calls for clean energy cooperation — a tough sell from a nation still doggedly reliant on coal. https://trib.al/eryejza
Name change: Could India become Bharat? Prime Minister Narendra Modi’s decision to replace the word India with an ancient Sanskrit name in invitations to a G-20 dinner has triggered raucous debate. Here's why. https://trib.al/sguKdib
Early exit: Billionaire banker Uday Kotak has made a surprise early exit from his firm. Something about the move doesn't add up. Read this and more in the latest India Edition newsletter. https://trib.al/rZpxaUR
As the G-20 summit is being held in New Delhi this weekend, expect a bonus newsletter with key takeaways and behind-the-scenes chatter. Subscribe here. https://bloom.bg/45jP1GP
Getting ready: From deploying fighter jets to chasing away packs of monkeys, India is pulling out all the stops as the world’s most powerful leaders descend on New Delhi for the G-20 summit. https://trib.al/AN3sbeQ
Coal problem: Modi’s green pitch to the global leaders this week will include new calls for clean energy cooperation — a tough sell from a nation still doggedly reliant on coal. https://trib.al/eryejza
Name change: Could India become Bharat? Prime Minister Narendra Modi’s decision to replace the word India with an ancient Sanskrit name in invitations to a G-20 dinner has triggered raucous debate. Here's why. https://trib.al/sguKdib
Early exit: Billionaire banker Uday Kotak has made a surprise early exit from his firm. Something about the move doesn't add up. Read this and more in the latest India Edition newsletter. https://trib.al/rZpxaUR
As the G-20 summit is being held in New Delhi this weekend, expect a bonus newsletter with key takeaways and behind-the-scenes chatter. Subscribe here. https://bloom.bg/45jP1GP
Bloomberg.com
Fighter Jets and Drones Turn India Into a Fortress for G-20
As the world’s most powerful leaders descend on New Delhi for the Group of 20 summit, India is pulling out all the stops, deploying fighter jets around the capital, painting murals on underpasses and chasing away packs of monkeys from government buildings.
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Overthrown President Freed: Gabon’s military government released former President Ali Bongo from house arrest, a week after overthrowing him in a bloodless coup. https://bloom.bg/45F1ky4
South African Magnate Dies: Raymond Ackerman, who built Pick n Pay Stores up from scratch into one of South Africa’s biggest supermarket chains and spent 43 years with the company before retiring in 2010, has died at 92. https://bloom.bg/4852Bjh
Mozambique's COP28 Billions Plan: Mozambique is seeking to become the latest country to secure an energy-transition pact with wealthy nations and is targeting an announcement at the COP28 climate summit. https://bloom.bg/3Ld19BV
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
South African Magnate Dies: Raymond Ackerman, who built Pick n Pay Stores up from scratch into one of South Africa’s biggest supermarket chains and spent 43 years with the company before retiring in 2010, has died at 92. https://bloom.bg/4852Bjh
Mozambique's COP28 Billions Plan: Mozambique is seeking to become the latest country to secure an energy-transition pact with wealthy nations and is targeting an announcement at the COP28 climate summit. https://bloom.bg/3Ld19BV
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Bloomberg.com
Gabon Junta Frees Deposed President Bongo From House Arrest
Gabon’s military government freed President Ali Bongo from house arrest, a week after overthrowing him in a bloodless coup.
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🇮🇳 🇨🇳 WATCH: India is emerging as an economic force to be reckoned with, as China falters and becomes increasingly isolated. But is it ready?
In the first of a four-part video series from Bloomberg — Is This India’s Moment? — we look at whether India has what it takes to become an economic powerhouse. https://trib.al/SLCi1cF
In the first of a four-part video series from Bloomberg — Is This India’s Moment? — we look at whether India has what it takes to become an economic powerhouse. https://trib.al/SLCi1cF
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🇮🇳 Hello, here are today's top stories to keep you up to date on the G-20 summit in India.
Live Blog: World leaders gather in India as Xi and Putin's absence highlights a divided world order. Follow for free-to-read updates. https://trib.al/oPABldS
Obstructing measures: China is emerging as a block on negotiations in a run-up to the G-20 summit. The UK has accused Beijing of obstructing measures to tackle climate change and refusing to back language condemning Russia’s war on Ukraine. https://trib.al/XuQKFY7
Studying options: India's military is examining what action the country could take in response to a potential Chinese invasion of Taiwan, following discreet inquiries from the US, sources say. https://trib.al/Ppl27d8
India Edition: Looking for insightful commentary and in-depth analyses on India? Sign up here [ https://bloom.bg/3qEX2rh ] for our weekly newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
Live Blog: World leaders gather in India as Xi and Putin's absence highlights a divided world order. Follow for free-to-read updates. https://trib.al/oPABldS
Obstructing measures: China is emerging as a block on negotiations in a run-up to the G-20 summit. The UK has accused Beijing of obstructing measures to tackle climate change and refusing to back language condemning Russia’s war on Ukraine. https://trib.al/XuQKFY7
Studying options: India's military is examining what action the country could take in response to a potential Chinese invasion of Taiwan, following discreet inquiries from the US, sources say. https://trib.al/Ppl27d8
India Edition: Looking for insightful commentary and in-depth analyses on India? Sign up here [ https://bloom.bg/3qEX2rh ] for our weekly newsletter to stay updated with the latest reportage on billionaires and businesses behind its rise. It's free to read.
Bloomberg.com
Biden Arrives in India For Tense G-20 Skipped by Xi and Putin
G20: Biden Arrives in India for Summit
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African Union Seeks $650 Billion: The African Union proposed that the IMF consider issuing $650 billion in special drawing rights to combat the climate crisis. https://bloom.bg/3LcjrTG
MTN Deal: Africa’s biggest wireless firm MTN Group said American Tower will take over its Nigerian tower operations from IHS from 2025. https://bloom.bg/3sLibk2
New Kenya Taxes Pending: Kenyan authorities can continue collecting new levies introduced in this year’s budget until a hearing on whether the tax measures are constitutional is determined, the Supreme Court ruled on Friday. https://bloom.bg/460N42q
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
MTN Deal: Africa’s biggest wireless firm MTN Group said American Tower will take over its Nigerian tower operations from IHS from 2025. https://bloom.bg/3sLibk2
New Kenya Taxes Pending: Kenyan authorities can continue collecting new levies introduced in this year’s budget until a hearing on whether the tax measures are constitutional is determined, the Supreme Court ruled on Friday. https://bloom.bg/460N42q
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Bloomberg.com
African Union Asks IMF for $650 Billion in Special Drawing Rights For Climate Crisis
The African Union proposed that the International Monetary Fund consider issuing $650 billion in special drawing rights to combat the climate crisis.
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🇮🇳 WATCH: India is spending billions to construct bridges and roads to outrun China. But half of the projects are behind time and over cost.
Bloomberg explores the risks and rewards, businesses and investors face in the Asian nation. https://trib.al/eECbTRK
Bloomberg explores the risks and rewards, businesses and investors face in the Asian nation. https://trib.al/eECbTRK
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BREAKING: The African Union has been invited to join the Group of 20 nations as the Global South gains more influence.
Follow our free to read live blog for the latest news, analysis and market reaction https://trib.al/YCRIi3E
Follow our free to read live blog for the latest news, analysis and market reaction https://trib.al/YCRIi3E
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Exclusive: G-20 diplomats have reached a deal on describing Russia's war in Ukraine, but leaders still need to agree. https://bloom.bg/488WrPh
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It's the second and final day of the G-20 summit and we're live here from New Delhi.
Follow our free-to-read live blog for all the news and analysis from our team of reporters on the ground in India. https://bloom.bg/3Rxv4sz
Follow our free-to-read live blog for all the news and analysis from our team of reporters on the ground in India. https://bloom.bg/3Rxv4sz
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Countering China: Xi Jinping’s decision to stay away from the G-20 summit may have been intended to deny India its moment. Instead, PM Modi — along with the US and Europe — figured out how to more effectively counter China on the world stage. https://tinyurl.com/yckbppah
Faulty jet: Prime Minister Justin Trudeau and the Canadian delegation are stuck in New Delhi after his aircraft experienced technical issues, an inauspicious end to a trip that included criticism from the Indian government. https://tinyurl.com/4bvt3tck
Surprise payback: Distressed Indian edtech titan Byju's makes surprise proposal to back entire $1.2 billion term loan ahead of schedule, sources say. https://tinyurl.com/3wpuy7u8
Free to read: The G-20 that was! Who won? Who lost? And the top things to know about this year's leaders' summit. Read this week's special G-20 India Edition newsletter. https://tinyurl.com/4736mhhh
Faulty jet: Prime Minister Justin Trudeau and the Canadian delegation are stuck in New Delhi after his aircraft experienced technical issues, an inauspicious end to a trip that included criticism from the Indian government. https://tinyurl.com/4bvt3tck
Surprise payback: Distressed Indian edtech titan Byju's makes surprise proposal to back entire $1.2 billion term loan ahead of schedule, sources say. https://tinyurl.com/3wpuy7u8
Free to read: The G-20 that was! Who won? Who lost? And the top things to know about this year's leaders' summit. Read this week's special G-20 India Edition newsletter. https://tinyurl.com/4736mhhh
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🇮🇳 WATCH: India wants to take China's crown as the world's factory.
But does the nation have what it takes to become the next manufacturing giant, Bloomberg reports. https://trib.al/YMKPtvC
But does the nation have what it takes to become the next manufacturing giant, Bloomberg reports. https://trib.al/YMKPtvC
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Morocco earthquake: Morocco began allowing teams from Spain, the UK and two Arab countries to assist in earthquake rescue efforts, as public anger grows over the domestic response to the nation’s deadliest natural disaster in six decades. https://bloom.bg/3LkqTfI
Olam denies allegations of fraud in Nigeria: Olam Group’s shares tumbled the most in over three years after the agricultural commodities trader denied allegations of a multibillion dollar fraud in Nigeria and ordered a review into the matter. https://bloom.bg/3Zepm0h
South African inflation expectations drop: South African inflation expectations declined for the first time in two years, suggesting price-pressures have peaked and the central bank will be able to keep interest rates on hold. https://bloom.bg/45MZTgQ
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
Olam denies allegations of fraud in Nigeria: Olam Group’s shares tumbled the most in over three years after the agricultural commodities trader denied allegations of a multibillion dollar fraud in Nigeria and ordered a review into the matter. https://bloom.bg/3Zepm0h
South African inflation expectations drop: South African inflation expectations declined for the first time in two years, suggesting price-pressures have peaked and the central bank will be able to keep interest rates on hold. https://bloom.bg/45MZTgQ
Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday.
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🌈 From Indian Netflix shows featuring openly gay and lesbian youth to roadside billboards selling health insurance for same-sex couples, an LGBTQ revolution is taking off in the world’s most-populous nation.
As the Supreme Court considers legalizing same-sex marriage in the coming weeks, many Indians say the law is catching up with public opinion, and not vice versa.
Many of these changes would have been unthinkable in the India of a decade ago. Here's how the efforts of the country’s leading companies are outpacing peers in Asia and the West ▶️ https://trib.al/FUFnY9c
As the Supreme Court considers legalizing same-sex marriage in the coming weeks, many Indians say the law is catching up with public opinion, and not vice versa.
Many of these changes would have been unthinkable in the India of a decade ago. Here's how the efforts of the country’s leading companies are outpacing peers in Asia and the West ▶️ https://trib.al/FUFnY9c
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