Author: The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Lawyers acting for former South African President Jacob Zuma argued that corruption charges against him dating back almost two decades should be scrapped because the case against him is politically motivated and has been unreasonably delayed. Musi Sikhakhane told the High Court in the eastern city of Pietermaritzburg on Monday that former chief prosecutor Bulelani Ngcuka was an ally of Thabo Mbeki, who ruled from 1999 until 2008 and sought to block Zuma from…

HARARE (Capital Markets in Africa) – There’s no evidence that Zimbabwe has pushed through with a plan to alleviate a crippling dollar shortage, and yet the currency has already strengthened on the black market. The RTGS$ advanced about 17% from a record low, according to marketwatch.co.zw, a website run by financial analysts, after the central bank said it would inject $500 million into the foreign-exchange market from Monday. The central bank is intervening as the price of goods soars…

MALAWI (Capital Markets in Africa) – Firebrand preacher Lazarus Chakwera, Malawi’s main opposition leader and a front-runner in Tuesday’s presidential election, pledged to clean up the government and persuade international donors to lift a suspension on aid if he wins. Chakwera said in an interview he plans to almost double the economic growth rate in one of the world’s poorest countries to at least 7% by expanding tourism, agriculture and mining. He will also seek to persuade…