The Editorial Team |

May Survives Another Vote as She Slowly Brings Opponents Onside

LONDON (Capital Markets in AfricaA) – A week ago, Theresa May’s aides expected that by now the prime minister would be reeling from a mass Cabinet walkout and a crushing parliamentary defeat. Instead, she’s clung on amid growing signs that opposition to her Brexit deal is eroding. The prime minister avoided confrontation with her ministers by backing downTuesday, and agreeing to give Parliament the option of postponing Brexit rather than crashing out without a deal. The muted…

Dangote: Africa’s Richest Man Makes a $17 Billion Bid for Immortality

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LAGOS (Capital Markets in Africa) – Aliko Dangote’s plan to reduce Nigeria’s dependency on fuel imports will carve out an even bigger slice of the nation’s $376 billion economy for his empire. The best way to appreciate the scale of Aliko Dangote’s empire is to hitch a ride on one of his private jets. A half-hour after his Bombardier Challenger 605 takes off from Lagos Airport, it descends into a seemingly desolate area of Kogi State…

Green Energy, Spurned by Zuma, Back in Vogue in South Africa

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JOHANNESBURG (Capital Markets in Africa) – With South Africa’s state electricity utility in dire financial straits and straining to meet demand, the government has reverted to courting independent renewable energy producers to help power the continent’s most industrialized economy. President Cyril Ramaphosa, his Energy Minister Jeff Radebe and the Treasury have all recently heralded solar and wind-powered plants as the answer to meeting South Africa’s future electricity demands, citing falling costs and environmental considerations. The government also needs…

Senegal’s Sall Heads for Outright Win in Partial Vote Results

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DAKAR (Capital Markets in Africa) – Senegalese President Macky Sall is leading Sunday’s election with the necessary majority for an outright win, according to unofficial results from most of the country’s 45 departments. Sall secured 57 percent of the 3.8 million votes counted in 39 departments that were compiled by a group of citizen observers known as Senegal Vote and tallied by Bloomberg. The results from 32 departments that were reported by state-run Agence de Presse Senegalaise…

Buhari Triumphs in Nigeria Election as Opposition Rejects Result

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LAGOS (Capital Markets in Africa) – Nigeria’s Muhammadu Buhari easily won a second term as president of Africa’s biggest oil producer with promises to revive an anemic economy and tackle security threats including a devastating insurgency by Islamic State. His main opponent rejected the results. Atiku Abubakar said Wednesday he’ll go to court to challenge official results showing Buhari won the Feb. 23 ballot by a margin of 56 percent to 41 percent. He alleged the ruling party used the…

What South Africa’s Main Political Parties Are Promising Voters

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JOHANNESBURG (Capital Markets in Africa) – South Africa is gearing up for elections on May 8 that will serve as a referendum on whether the African National Congress has rehabilitated itself in the eyes of voters after former leader Jacob Zuma’s scandal-marred rule. The ruling party’s two main challengers are the pro-business Democratic Alliance and the populist Economic Freedom Fighters, which favors the nationalization of mines, banks and land. The ANC, led by President Cyril Ramaphosa, aims to…

Naspers Pay-TV Unit MultiChoice Jumps on Debut in Johannesburg

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JOHANNESBURG (Capital Markets in Africa) – MultiChoice Group Ltd. soared 16 percent in debut trading in Johannesburg as the pan-African pay-TV company embarks on a new era of independence following a spin off by technology giant Naspers Ltd. The shares traded at 111.12 rand as of 11 a.m. local time on Wednesday, valuing the company at almost 50 billion rand ($3.5 billion). That’s the biggest listing in the city since Steinhoff International Holdings NV unbundled its Africa…

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