The Editorial Team |

Kenyan Court Annuls Law on Interest-Rate Cap for Lenders

NAiROBI (Capital Markets in Africa) – A Kenyan court has annulled a contentious banking law that caps what lenders can charge consumers for loans at 4 percentage points above the central bank rate, calling the legislation “vague, imprecise, ambiguous and indefinite.” The Nairobi High Court suspended the implementation of the ruling for 12 months to give the National Assembly an opportunity to reconsider the provisions, according to the Thursday judgement. Boniface Oduor filed the lawsuit…

Elephants, Alcohol and Benefits Divide Botswana Ruling Party

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GABORONE (Capital Markers in Africa) – Botswana’s ruling party is in the midst of its worst crisis since taking power at independence from the U.K. in 1966 as a leadership battle rages ahead of an elective congress next month. A political feud between President Mokgweetsi Masisi and his predecessor, Ian Khama, has exposed divisions within the Botswana Democratic Party as it’s preparing to hold a leadership vote on April 5 and contest general elections later this year. The…

Mozambique Says Bribery Claims to Impact Debt Restructuring

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MAPUTO (Capital Markers in Africa) – – Mozambique is taking into account U.S. Department of Justice claims that $2 billion of debt the government contracted was a fraudulent scheme, as it talks to creditors about restructuring the loans, Prime Minister Carlos Agostinho do Rosario said. The DOJ in December alleged that the debt and the state-owned maritime projects it funded from 2013 to 2014 was a front for investment bankers, corporate executives and corrupt officials…

Standard Bank Sees Opportunity for Africa in Brexit, Trade Wars

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JOHANNESBURG (Capital Markets in Africa) – Standard Bank Group Ltd., Africa’s largest lender, sees trade opportunities opening up for the continent as a result of Britain’s eventual exit from the European Union and the dispute between the U.S. and China over tariffs. Britain and China will be looking to bolster their relationship with emerging markets, and African nations could benefit from improved access, more favorable tariffs and increased trade should their governments step in to…

Air France Black-Box Hunter in Third Push to Solve Freak Crash

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ADDIS ABABA (Capital Markers in Africa) – French President Emmanuel Macron has meanwhile held discussions with Ethiopian Prime Minister Abiy Ahmed about a new contract for Toulouse-based Airbus SE as part of a renewal of the Ethiopian Airlines fleet, a French official said Thursday. Though the African carrier already operates the European planemaker’s A350 wide-body, all of its other jets are Boeings, including 787 Dreamliners for which it was one of the first global customers, and a variety of 737s. Macron…

Congo Republic Enlists Strauss-Kahn’s Help as IMF Bailout Sought

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CONGO (Capital Markers in Africa) – The Republic of Congo sought the assistance of former International Monetary Fund Managing Director Dominique Strauss-Kahn as the debt-strapped nation’s bid to secure a bailout stretches into a third year. Strauss-Kahn and Lazard France Chief Executive Officer Mathieu Pigassetraveled to the Congolese capital, Brazzaville, in January for talks with President Denis Sassou Nguesso, Finance Ministry spokesman Adrien Wayi Lewy said in an interview. “They have a great understanding of global finance and were…

France Accepts 737 Black Boxes as Macron Hunts Airbus Sales

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ADDIS ABABA (Capital Markers in Africa) – Ethiopia has sent black boxes from a crashed Boeing Co. 737 jet to France for decoding after refusing to hand them to U.S. authorities that had kept the Max model flying after most other regulators grounded it. The flight-data and cockpit-voice recorders have arrived at the Bureau d’Enquetes et d’Analyses, France’s air-accident investigator, with coordination meetings underway and technical work set to start Friday. The BEA said it will download data but hasn’t been…

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