Features

New York (Capital Markets inAfrica) – Emergency crews scrambled to rescue dozens of children Wednesday morning from the wreckage of a three-story building housing a nursery and primary school that collapsed in Lagos, Nigeria. Hundreds of people were gathered at the site, on Lagos Island, wailing as motionless children were removed from the rubble and spirited by ambulance to a nearby hospital. There were news reports that some people had been killed, but no official…

JOHANNESBURG (Capital Markets in Africa)  – Since its founding almost a century ago, South Africa’s central bank has been owned by private shareholders. Now President Cyril Ramaphosais pushing ahead on a plan to nationalize the Reserve Bank in order to address its anomalous ownership structure and assert the nation’s sovereignty. Critics say the move could shake faith in an institution that’s been seen as being above politics and be the first step toward infringing on its…

NEW YORK (Capital Markets in Africa) – Boeing Co. staggered into a deepening global crisis as governments around the world grounded the company’s best-selling jet over safety concerns after a second deadly crash. The U.K. blocked flights Tuesday by the 737 Max plane until more information becomes available about why an Ethiopian Airlines aircraft plunged into a hillside near Addis Ababa, killing 157. Germany, France, the Netherlands and Ireland took similar steps. A blanket ban from…

PARIS (Capital Markets in Africa) – Past French presidents have arrived in office promising to move France’s African policy beyond its focus on propping up former colonies. Each one has gotten dragged back in. Emmanuel Macron’s three-day trip to Africa this week is meant to boost trade with Ethiopia and Kenya, two countries that were never controlled by France. Still, the trip takes place against a backdrop of deepening French military involvement across West Africa,…

LONDON (Capital Markets in Africa) – U.K. Prime Minister Theresa May is facing a potentially catastrophic defeat for her Brexit strategy as members of Parliament line up to attack her revised deal, hours before they are due to vote on it. If she loses the critical vote on Tuesday evening by a large margin, the risk is it will spell the end for the agreement May has spent the past two years painstakingly piecing together with the…

MADAGASCAR (Capital Markets in Africa) – Madagascar may not have enough candidates to compete in legislative elections scheduled for May 27. A day before registration closes, only 88 candidates have registered to take part in the vote for the Indian Ocean island nation’s 151-seat parliament. The previous ballot in 2013 attracted 2,069 candidates. The low turnout comes two months after the government increased the registration deposit that candidates must pay the electoral authority to 5…

JOHANNESBURG (Capital Markets in Africa) – Factions in South Africa’s ruling African National Congress are seizing the policy initiative and undermining President Cyril Ramaphosa’s efforts to revive the nation’s flagging economy, according to Robert Schrire, a political science professor at the University of Cape Town. Since Ramaphosa replaced Jacob Zuma as president a year ago, after winning the party leadership vote by the narrowest of margins, his opponents have retained some top ANC and state posts and advocated policies…