The Editorial Team |

Tanzanian Opposition Leader Arrested for Inflammatory Speech

DAR ES SALAAM (Capital Markets in Africa) – Tanzanian police arrested the leader of the opposition Alliance for Change and Transparency after he gave a speech about the current state of the country’s economy. The authorities detained Zitto Kabwe on Tuesday and he’s currently being questioned about the speech he made on Oct. 29 in Dar es Salaam, the commercial capital, Abdallah Khamis, the ACT’s spokesman, said by phone. The party’s lawyers are trying to…

South Africa Business Fears Political Limbo If ANC Vote Stalls

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s main business group fears the country will be stuck in political limbo if infighting causes the ruling party’s elective conference in December not to go ahead. The race to succeed President Jacob Zuma as leader of the African National Congress is widely seen as a head-to-head contest between his deputy, Cyril Ramaphosa, and Nkosazana Dlamini-Zuma, the leader’s ex-wife and former chairwoman of the African Union Commission. The battle has grown fractious…

Russia Signs Agreement With Nigeria for Nuclear Power Plant

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LAGOS (Capital Markets in Africa) – Russia has signed agreements with Nigeria to build and operate a nuclear power plant in the oil-rich West African nation that has a deficit of reliable power and faces security challenges by Islamist militants in the far northeast. Feasibility studies for the plant and a research center construction will include site screening, capacity, financing, and time frames of the projects, state-owned Russian nuclear company Rosatom said in an emailed…

Carlyle Is Said to Target Egypt Deals as Reforms Revive Economy

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CAIRO (Capital Markets in Africa) – Carlyle Group LP is targeting possible investments in Egypt as the U.S. buyout firm seeks to take advantage of an economic revival in Africa’s third-biggest economy, according to people familiar with the matter. The company is in talks to buy a controlling stake in chocolate maker Covertina, the people said, asking not to be identified as the information is private. It’s also looking at other potential investments in the country,…

Zimbabwe Ruling Party Moves to Include a Woman in Top Body

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HARARE (Capital Markets in Africa) – Zimbabwe’s ruling party will probably amend its constitution to ensure that a woman is appointed to its top body, which currently has three men, according to a draft document sent to senior members of the party by its secretary for administration, Ignatius Chombo. The move may pave the way for President Robert Mugabe’s wife Grace to join the Presidium at a party congress in December, according to University of Zimbabwe professor Eldred…

Cryptocurrency Push Sends Startup to Biggest Gain Since 2015 IPO

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LAGOS (Capital Markets in Africa) Canadian online lender Mogo Finance Technology Inc. rose the most in eight months after moving a step closer to giving customers the ability to hold bitcoin and other cryptocurrencies in digital wallets. Mogo shares rose as much as 35 percent, the most since the company’s initial public offering in June 2015, and closed at C$5.15, up 31 percent. The move gives the company a market value of C$94.4 million ($73.6 million). The Vancouver-based firm said…

Private Equity funds raise $95bn in third quarter of 2017

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LAGOS (Capital Markets in Africa) – Research provider Preqin indicated that 181 private equity (PE) funds raised a total of $95.2bn in capital commitments worldwide in the third quarter of 2017, compared to 256 PE funds that raised $137.7bn in the preceding quarter and 232 PE funds that secured $66.6bn in the third quarter of 2016. It pointed out that 45 buyout funds secured $65.9bn during the third quarter of the year, or 69.2% of…

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