Features | - Part 118

Fracture in Kenyan Ruling Party May Revive Rift Valley Tensions

NAIROBI (Capital Markets in Africa) – An alliance that helped deliver Kenyan President Uhuru Kenyatta two terms in office is fracturing, reviving tensions in the country’s Rift Valley region that was wracked by widespread violence a decade ago. The deputy chairman of the ruling Jubilee Party stepped down on Sunday after saying Deputy President William Ruto shouldn’t be allowed to succeed Kenyatta. That undermines an arrangement in which Ruto delivered the backing of his Rift Valley constituents for Kenyatta’s…

Congo Opposition Party Says Tshisekedi Is `Presumed’ Vote Winner

Posted on by The Editorial Team

KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo’s largest opposition party said its leader was the “presumed” winner of last week’s election and encouraged talks with the nation’s outgoing president to prepare a transition. Union for Democracy and Social Progress head Felix Tshisekedi is one of three candidates in with a chance of succeeding Joseph Kabila, who has ruled the world’s biggest cobalt producer since 2001. He’s competing against rival opposition leader Martin Fayulu and Emmanuel Ramazani Shadary,…

Gabon Government Says It Quashed Coup by Army Mutineers

Posted on by The Editorial Team

LIBREVILLE (Capital Markets in Africa) – Gabonese authorities said they put down an attempted coup by a group of mutineering soldiers who’d seized control of the national broadcaster and vowed to “save a democracy in danger.” Communication Minister Guy-Bertrand Mapangou told Radio France Internationale on Monday that order had been restored, and the capital, Libreville, was largely quiet. His statement came hours after Ondo Obiang Kelly, an army lieutenant, read a statement on state TV…

JPMorgan Says Payments to Libya Oil-Fund Fixer Weren’t Bribes

Posted on by The Editorial Team

TRIPOLI (Capital Markets in Africa) – JPMorgan Chase & Co. acknowledged that Bear Stearns made millions of dollars of payments to a friend of the son of Libyan dictator Moammar Al Qaddafi around the time it raised $200 million for the country’s wealth fund. But the bank is refuting the Libyan Investment Authority’s central allegation in a London lawsuit that the funds were used to bribe and intimidate officials who awarded the 2007 bond deal. The payments were for help…

Congo Opposition Leader Backs Electoral-Commission Results Delay

Posted on by The Editorial Team

KINSHASA (Capital Markets in Africa) – Democratic Republic of Congo presidential candidate Felix Tshisekedi backed the electoral commission’s postponement of election results, cleaving the opposition’s response to the delay. The National Independent Electoral Commission, or CENI, put off the announcement of the outcome of the Dec. 30 presidential election indefinitely on Sunday — the day it was scheduled to announce a provisional winner. While two African observer missions endorsed the polls, rival opposition candidate Martin Fayulu criticized the delay…

South African Open: Betting Tips for Golf

Posted on by The Editorial Team

For the calendar year of 2018, there are just two European Tours left to happen in the game of Golf, and they are both scheduled to occur in the beautiful country of South Africa. The coming week will see Johannesburg hosting the South African Open. Where Will The Matches be Played? You can find the action happening at the Randpark Golf Club in Johannesburg. Interestingly it is also going to be the first time since…

Zambia Tax Hike to Make Most Mines Unprofitable, Group Says

Posted on by The Editorial Team

LUSAKA (Capital Markets in Africa) – More than half of the copper mines in Zambia, Africa’s second-biggest producer of the metal, will probably be unprofitable next year with thousands of jobs on the line, as the nation raises taxes for operators, the country’s biggest industry lobby group said. The effective tax rate will range from 86 percent to 105 percent, with about 27,900 jobs at risk, the Zambia Chamber of Mines said in a statement…

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