Author: The Editorial Team

NAIROBI (Capital Markets in Africa) – Once a year, Abdullahi Ibrahim Mohammed would scrape together enough cash to fly from Saudi Arabia back home to Kenya to visit the wife, parents and three children he worked long hours to support. This year he didn’t make it. The 36-year-old dairy worker was one of 157 people killed Sunday when an Ethiopian Airlines plane bound for his hometown, Nairobi, plunged into a field near Ethiopia’s capital. It’s…

JOHANNESBURG (Capital Markets in Africa) – A screw-like device found in the wreckage of the Boeing Co. 737 Max 8 that crashed Sunday in Ethiopia has provided investigators with an early clue into what happened, as work begins in France to decode the black boxes recovered from the scene. The so-called jackscrew, used to set the trim that raises and lowers the plane’s nose, indicates the jet was configured to dive, based on a preliminary review, according…

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…

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…