Features | - Part 134

Anglophone Revolt Seen Raising Risk of Civil War in Cameroon

YAOUNDE (Capital Markets in Africa) – Sama Jude knew it was time to flee his home town in western Cameroon when he heard the sound of gunfire ringing above the roof of the University of Buea where he’s taught for four years. As clashes between the nation’s army and separatist rebels intensified, the 41-year-old lecturer packed his bags and fled to the commercial capital, Douala, about 60 kilometers (37 miles) to the east. “You never…

Congo Opposition Threatens to Reject Election If Kabila Runs

Posted on by The Editorial Team

KINSHASA (Capital Markets in Africa) – Opposition leaders in the Democratic Republic of Congo denounced President Joseph Kabila’s refusal to rule himself out of upcoming elections, saying they will reject the polls if he is a candidate. Congo is preparing to hold elections in December, two years later than scheduled. While the constitution bars Kabila from seeking a third term, he’s yet to say whether he’ll be a candidate or not. Attempting to extend his 17-year…

Rigging Claims Cast Cloud Over Zimbabwe’s Post-Mugabe Vote

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – The legitimacy of Zimbabwe’s first election since Robert Mugabe quit after leading the nation for almost four decades has come under attack even before voters line up to cast their ballots, raising fears of a disputed result. President Emmerson Mnangagwa, who replaced Mugabe in November and leads the ruling Zimbabwe African National Union-Patriotic Front, has promised a fair contest on July 30. Yet the main opposition Movement for Democratic Change says the…

Nigeria’s President Buhari Suffers Blow as He Loses Senate

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa)- Nigeria’s ruling party lost its majority in the Senate after over a dozen lawmakers defected to the main opposition group, dealing a blow to President Muhammadu Buhari who is seeking re-election early next year. A group of 15 senators, including Rabiu Kwankwaso, a former governor of the northern state of Kano, quit the All Progressives Congress to join the People’s Democratic Party, Senate President Bukola Saraki said Tuesday during proceedings in the capital, Abuja. The…

Egypt Scraps AOS, Al Wehda as Wheat Suppliers After Cargo Delays

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt, one of the world’s largest wheat importers, removed two of its top suppliers from a list of approved sellers after repeated delays in delivering cargoes, according to an official with the state-run buyer. Dubai-based AOS Trading DMCC and its Egyptian sister company Al Wehda will no longer be able to sell to the General Authority for Supply Commodities, said the official, who asked not to be named as…

Nigerian Senate to Probe `Irregular’ Oil Lease Renewals

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s Senate said it would probe the renewal process of energy leases undertaken by the oil minister and the Department of Petroleum Resources, in search of anomalies that could cost the government more than $10 billion in lost revenue. The Minister of State for Petroleum Resources Ibe Kachikwu and the DPR are renewing the “leases of companies that have brazenly and illegally refused to pay royalties,” lawmakers said in a motion…

Libya Kidnap Shows Oil-Supply Growth at Risk From Insecurity

Posted on by The Editorial Team

TRIPOLI (Capital Markets in Africa) – Just as Libya resumes oil exports from recently shuttered ports, an attack on its largest field is setting back progress yet again. An incursion by gunmen into the Sharara field Saturday and the kidnapping of workers there forced the National Oil Corp. to cut output and ban exports. It’s the latest in a string of security incidents that have hobbled Libyan shipments despite repeated attempts to restore flows in the politically…

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