The Editorial Team |

Novartis Speeds New Anti-Malarial as Older Drug Loses Potency

LAGOS (Capital Markets in Africa) – Novartis AG began testing a new anti-malaria pill in Africa, advancing development of an alternative to its most effective treatment that billionaire philanthropist Bill Gates said risked losing potency. Patients in Mali infected with the mosquito-borne parasite began receiving the experimental drug, known as KAF156, in combination with another medicine, the drugmaker said Monday. More than 500 children and adults across nine countries in Africa and Asia will be enrolled in the mid-stage study…

Moody’s downgrades Tunisia’s rating to B1, maintains negative outlook

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TUNIS (Capital Markets in Africa) – Moody’s Investors Service has today downgraded the long-term issuer rating of the government of Tunisia to B1 from Ba3 and maintained the negative outlook. Moody’s has also downgraded the foreign currency debt rating of the Central Bank of Tunisia to B1 from Ba3 and maintained the negative outlook, in addition to downgrading the shelf/MTN rating to (P)B1 from (P)Ba3. The Government of Tunisia is legally responsible for the payments…

Moody’s downgrades Tunisia’s rating to B1, maintains negative outlook

Posted on by The Editorial Team

Angola Ruling-Party Candidate `a Chauffeur,’ Opposition Says

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LUANDA (Capital Markets in Africa) – Angolan ruler Jose Eduardo dos Santos will keep his grip on power if his party wins elections this month, even as he steps down as president after 38 years in office, according to the country’s main opposition leader. The ruling Popular Movement for the Liberation of Angola has picked 63-year-old Defence Minister Joao Lourenco as its presidential candidate for the August 23 vote. Dos Santos will remain the party’s chairman and has appointees…

Rwanda President Sworn In for Third Term After Landslide Victory

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KIGALI (Capital Markets in Africa) – Rwandan President Paul Kagame was sworn in for a third term after a landslide victory in the East African nation’s elections earlier this month that critics said took place amid a crackdown on his political opponents. Kagame received almost 99 percent of ballots in the Aug. 4 vote, extending his 17-year rule after a 2015 referendum backed amending the constitution to remove a two-term limit. The 59-year-old took the oath of…

Kenya’s Top Court Expected to Uphold Kenyatta’s Election Win

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NAIROBI (Capital Markets in Africa) – Kenya’s top court will decide over the next two weeks whether to nullify the outcome of this month’s presidential elections that the main opposition says were rigged. Most legal experts and political analysts expect President Uhuru Kenyatta’s victory to be upheld. Opposition leader Raila Odinga alleges that members of the ruling party hacked the electoral authority’s computers to deliver Kenyatta, 55, a second term. Odinga’s five-party National Super Alliance initially ruled out…

Standard Bank’s First-Half Profit Rises 14% as Impairments Drop

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JOHANNESBURG (Capital Markets in Africa) – Standard Bank Group Ltd., Africa’s largest lender by assets, said first-half profit rose 14 percent after impairments dropped and costs were contained. Net income climbed to 12.3 billion rand ($937 million) from 10.8 billion rand a year earlier, the Johannesburg-based lender said in a statement on Thursday. Earnings per share excluding one-time items, known locally as headline earnings, advanced 11 percent to 7.56 rand beating the 7.44 rand median estimate of…

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