Features

JOHANNESBURG (Capital Markets in Africa) – The possibility that the Justice Department would add to the dizzying array of regulatory and legal headaches the Swiss company is facing around the globe — from Russia to Africa and South America — has been a major worry for both executives and shareholders for months, people familiar with the matter said. Those concerns crystallized Tuesday with the announcement that U.S. investigators have subpoenaed documents related to Glencore’s activities in the Democratic Republic…

KAMPALA (Capital Markets in Africa) – Ugandan authorities defended the introduction of a tax on users of social media such as Facebook and Twitter, saying the revenue is necessary to fund public services. The daily levy equivalent to about 5 U.S. cents is “a small contribution of citizens towards the development of their country,” Minister of State for Finance David Bahati was quoted by the state-run Uganda Media Centre as saying on Tuesday. East Africa’s…

HARARE (Capital Markets in Africa) – Zimbabweans head to the polls on July 30, in the first presidential election since the ouster of President Robert Mugabe last year. Until a week ago, Zimbabwe’s presidential campaigning had been relatively peaceful, with the exception of some violence reported during the party primary elections. That changed abruptly on June 23, when Emmerson Mnangagwa, Zimbabwe’s new president, survived a grenade blast at a political rally in Bulawayo, the country’s second-largest…

KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo is considering whether to open up swathes of two world-famous national parks to oil exploration. A decision to allow a search for crude may threaten Virunga National Park, home to many of the about 1,000 mountain gorillas still alive, and Salonga National Park, the world’s second-biggest tropical rainforest reserve. A committee is being established to debate the proposal as Congo plans to increase crude…