The Editorial Team |

U.S. Extends Sudan Sanctions Review Period by Three Months

KHARTOUNM (Capital Markets in Africa) – The U.S. delayed by three months a decision on whether to permanently lift some sanctions imposed on Sudan, making the revocation dependent on the North African country sustaining progress in areas such as anti-terror cooperation. President Donald Trump’s executive order extends the six-month review period established by the Obama administration on Jan. 13, which detailed conditions Sudan must meet for certain sanctions to be revoked, the State Department said in…

President Buhari Due to Return to Nigeria Soon, Deputy Says

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LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari is recuperating and should be back in the country “very soon,” Vice President Yemi Osinbajo said a day after visiting him in the U.K. Osinbajo, who travelled to London Tuesday to meet Buhari, told reporters in the capital, Abuja, that they spoke for more than an hour. Buhari is “in very good spirits,” Osinbajo said. “He’s doing very well.” Buhari, 74, has been in the U.K. since May 7…

Blind’ Preparations Seen Stoking Risk of Kenyan Vote Unrest

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NAIROBI (Capital Markets in Africa) – Less than a month before Kenyans are due to go to the polls, electoral authorities are behind on everything from printing ballot papers to finalizing a voter list. That risks a disputed outcome and unrest a decade after post-election violence engulfed the East African nation. While the Independent Electoral & Boundaries Commission says the vote will take place Aug. 8, there has been a court appeal over the ballot…

Africa’s Richest Man Invests $4.6 Billion in Nigeria Farming

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LAGOS (Capital Markets in Africa) – Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria. The conglomerate plans to increase its production of sugar to 1.5 million metric tons a year by 2020 from 100,000 tons now and is…

Etisalat Nigeria CEO Focused on Stabilizing Business Before Sale

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LAGOS (Capital Markets in Africa) – Etisalat Nigeria is concentrating on steadying the business rather than finding a new operator as the struggling mobile-phone company strives to stay afloat after its Abu Dhabi-based former owners defaulted on a $1.2 billion loan. “The biggest thing we have to do is stabilize the business, try and ensure a good top-line, put some level of control on costs,” Chief Executive Officer Boye Olusanya said in an interview at the wireless…

Gabon Seeks Private Partnerships to Boost Processing of Minerals

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Libreville (Capital Markets in Africa) – Gabon, Africa’s second-biggest manganese producer, wants to partner with private companies to process most its minerals locally before exporting them, Mining Minister Christian Magnagna said. Local processing will boost the mining industry’s contribution to gross domestic product from the current 2.1 percent to at least 4 percent as the central African nation seeks to make its economy less dependent on oil, Magnagna said in an interview in the capital, Libreville….

South Africa Graft Ombudsman Won’t Fight Central Bank Court Bid

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s anti-graft ombudsman won’t oppose the Reserve Bank’s court application to review and set aside her instruction to parliament to change the constitution and amend the central bank’s primary role. Public Protector Busisiwe Mkhwebane considered legal advice and decided not to oppose the application the central bank filed on June 28, her office said in an emailed statement on Monday. In a report last month, Mkhwebane instructed the legislature to start…

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