Author: The Editorial Team

ANGOLA (Capital Markets in Africa) — Prosecutors are demanding a jail term of at least seven years for Jose Filomeno dos Santos, the son of Angola’s former president, who is accused of taking part in an illegal $500 million transfer before his father stepped down in 2017, state-owned news agency Angop said. Jose Filomeno, also known as Zenu, is the most high-profile figure linked to the previous regime to stand trial for corruption. The 42-year-old…

HARARE (Capital Markets in Africa) — Zimbabwe’s security force leaders sidelined the nation’s economic chiefs and forced the government to close the stock exchange and halt most mobile-money transactions, people familiar with the situation said. The June 26 order that sought to stabilize the nation’s currency came after pressure from the Joint Operations Command and was made without notifying the central bank, which regulates the mobile-money industry through which almost all of Zimbabwe’s commerce takes…

JOHANNESBURG (Capital Markets in Africa) — South Africa’s indebted power utility Eskom Holdings SOC Ltd.plans to issue a 1 billion rand ($58 million) Sukuk bond as it tries to diversify funding sources to reduce borrowing costs. Eskom has appointed a lead arranger “to work towards establishing timelines for the issue,” spokesman Sikonathi Mantshantsha said in an emailed response to questions on Monday. The utility has about 450 billion rand in debt and no current plans…