Author: The Editorial Team

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…

LAGOS (Capital Markets in Africa) – Record cocaine busts in Guinea-Bissau and Cape Verde have fueled fears of a resurgence of drug trafficking in West Africa that’s likely to benefit Islamist militant groups in the region. Authorities in the two former Portuguese colonies have intercepted as much as 10.4 metric tons of cocaine this year, more than the total amount seized on the entire continent between 2013 and 2016, according to the latest data available…

LAGOS (Capital Markets in Africa) – Wins in Nigeria’s parliamentary vote look set to strengthen the position of President Muhammadu Buhari after his re-election last month, as he bids to boost a listless economy and defeat Islamic State fighters during his second and final term. The former general’s party, the All Progressives Congress, has won more than 60 of the 109 Senate seats and is heading for a majority in the lower House of Representatives, according to partial results announced by…

LAGOS (Capital Markets in Africa) – The World Bank will more than double its commitment to climate adaptation and mitigation in Africa over the next five years to $22.5 billion. “This region is particularly vulnerable to increasing floods, droughts and destructive storms,” World Bank Group Interim President Kristalina Georgievasaid in an emailed statement Wednesday. “We have to do more and do it faster, or millions of people could be plunged into poverty” due to the effects…