Author: The Editorial Team

LAGOS (Capital Markets in Africa) – Puma Energy and at least one other company halted operations at their fuel terminals in the Mozambican port city of Beira because of damage caused by Cyclone Idai. Beira, home to more than half a million people, bore the brunt of the storm that made landfall on March 15 and caused flooding that’s left at least 202 dead in Mozambique, and 98 more in Zimbabwe. Mozambican President Filipe Nyusi has said the…

JOHANNESBURG (Capital Markets in Africa) – In 1987, an anti-apartheid firebrand named Cyril Ramaphosa led South Africa’s biggest-ever mining strike. Some 300,000 miners—from a union Ramaphosa himself had founded—walked off the job, protesting pay and working conditions. The mining company “used fascist methods to destroy workers’ lives,” Ramaphosa declared. Over the three-week strike, nine people were killed, 500 were injured and more than 50,000 were fired. Still, it demonstrated the power that organized black labor…

NAIROBI (Capital Markets in Africa) – A Kenyan inquiry into dam construction projects worth $650 million has placed Treasury Secretary Henry Rotich at the center of a power struggle, with critics demanding he resign. The investigation not only threatens to hamper President Uhuru Kenyatta’s $25 billion plan to expand infrastructure and boost the East African nation’s economy, but also unity in the ruling Jubilee party. The race to succeed Kenyatta when his term ends in 2022 has pitted…