Author: The Editorial Team

NAIROBI (Capital Markets in AfricaA) – At least two Kenyan cabinet secretaries are facing arrest for their alleged role in two dam projects through which public funds were misappropriated, the Star reported, citing people it didn’t identify. The cabinet secretaries in the East African nation could face charges of negligence or conspiracy to steal public funds meant for construction of the dams in the Rift Valley, the Nairobi-based newspaper said Thursday. The two dam projects…

JOHANNESBURG (Capital Markets in Africa)- South African state companies have been brought to their knees by graft, according to Public Enterprises Minister Pravin Gordhan. At least seven state companies are “either on their knees or touching carpet” as institutions were damaged due to so-called state capture, Gordhan said Thursday at a conference in Johannesburg. As much as 500 billion rand ($36 billion) probably left South Africa due to state capture, he said, using a local term…

LONDON (Capital Markets in AfricaA) – Net migration to Britain from other European Union countries is at its lowest level in a decade as Brexit uncertainty escalates. EU citizens arriving in the U.K. outnumbered those leaving by just 57,000 in the 12 months through September, the least since 2009 and half the number recorded a year earlier, the Office for National Statistics said Thursday. Overall net migration, including from non-EU countries, was little changed at 283,000. EU…