The Editorial Team |

Biden Brushes Off Trump’s Long-Shot Effort to Undermine Election

LAGOS (Capital Markets in Africa) — President-elect Joe Biden shrugged off Donald Trump’s effort to challenge the election results, forging ahead with transition planning even as the president pursues a multi-state legal fight backed by Republican allies and the Justice Department. Trump’s campaign on Tuesday said it would file a federal lawsuit in Michigan that seeks to stop the state’s top election official from certifying Biden’s win. The campaign filed a similar suit in Pennsylvania…

Nigeria Exempts Dangote, 2 Other Firms From Border Closure (3)

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LAGOS (Capital Markets in Africa) — Nigeria has allowed Dangote Cement to resume exports across its land borders, raising hopes that Africa’s most populous nation may be opening up trade with neighbors after a year-long blockade. President Muhammadu Buhari’s administration gave permission for Africa’s biggest cement producer to export to Niger and Togo in the third quarter for the first time in ten months, Michel Puchercos, chief executive officer, said on an investor call Monday. The exemption…

EU Funds Biometric Tech Used for Returning African Migrants

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LAGOS (Capital Markets in Africa) — A European Union development fund has financed biometric identity systems in Senegal and Ivory Coast, in some cases aimed at identifying undocumented citizens living in Europe and to organize their return, according to a report by Privacy International. The system in Ivory Coast in part aims to “facilitate the identification of people genuinely of Ivorian nationality and to organize their return more easily,” one document says. In a letter to…

Zambia Nears Default With Bondholders Set to Refuse Relief

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HARARE (Capital Markets in Africa) — A key bondholder group is set to reject Zambia’s request for an interest-payment holiday, putting the country on course to become the first African sovereign defaulter since the onset of the coronavirus pandemic. There is consensus among the so-called Zambia External Bondholder Committee to refuse the proposal, with a voting deadline of Wednesday ahead of Friday’s meeting with creditors, according to two people with direct knowledge of the matter who asked…

Why Ethiopia’s Internal Tensions Risk Boiling Over: QuickTake

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ADDIS ABABA (Capital Markets in Africa) — Long-simmering tensions between Ethiopia’s federal government and the northern state of Tigray have escalated to the verge of all-out conflict. Ethiopian Prime Minister Abiy Ahmed on Nov. 4 ordered the military to respond to an alleged raid on an army camp in the restive region and placed it under a six-month state of emergency. Tigrayan leaders responded by banning flights and warned they’ll respond to any acts of…

South Africa Sees Eskom at Zero Carbon Emissions Only by 2050

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JOHANNESBURG (Capital Markets in Africa) — Eskom Holdings SOC Ltd., South Africa’s debt-ridden utility, may eliminate carbon emissions at its power plants only by 2050, according to a government task force. The utility’s Just Energy Transition program, which envisages shifting away from coal, will be implemented gradually over the next three decades, the political group led by Deputy President David Mabuza said. The government maintains that the transition must ensure the economic sustenance of communities surrounding the…

Ethiopia Replaces Top Security Officials as Clashes Continue

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ADDIS ABABA(Capital Markets in Africa) — Ethiopia’s leader replaced key security officials as fighting in the country’s northern Tigray region entered the sixth day. Prime Minister Abiy Ahmed appointed General Birhanu Jula, the No. 2 military official, as chief of staff, replacing General Adem Mohammed. He also named Veteran Foreign Minister Gedu Andargachew as a national security adviser, and his job was handed to Deputy Prime Minister Demeke Mekonnen. “It is a leadership shuffle aimed…

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