Features | - Part 144

BILLIONS READY FOR INVESTMENT SAYS TOP ECONOMIST

June 4, 2018, Harare. Hosted by Africa’s premier investment and real estate development conference producer, API Events, the ZimReal Property Investment Forum on the 13th of June is a keenly anticipated event for the local industry and regional investors said host Kfir Rusin. “We’ve received a lot of interest both from local stakeholders from both the private and public-sector, which is headlined by the Hon. July Moyo, Minister, Ministry of Local Government Public Works and…

Moroccan Potash Hopeful Wins London. Now It Has to Build Mine

Posted on by The Editorial Team

CASABLANCA (Capital Markets in Africa) – Potash developer Emmerson Plc staged a strong return on the London Stock Exchange — its shares surging 62 percent on the first day of being re-admitted as the miner set its sights on a deal with Moroccan fertilizer giant Office Cherifien des Phosphates. The Isle of Man-based Emmerson, which is building the Khemisset potash mine in northern Morocco, was re-admitted to the LSE after raising 6 million pounds ($8…

Ivory Coast President Ouattara Says He May Seek Third Term

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ABIDJAN (Capital Markets in Africa) – Ivory Coast President Alassane Ouattara may seek re-election in 2020 after the West African nation adopted a new constitution two years ago that he said allows him to extend his two terms in power. Since assuming office in 2011 after almost a decade of political instability, Ouattara repeatedly said he would step down after completing a second term, which he won in 2015. While his ruling Rally of Houphouetists for Democracy and…

After Wild Ride, Iron Ore Becalmed as Citi Warns on Outlook

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LAGOS (Capital Markets in Africa) – $60s may just persist for a while longer. Citigroup Inc. expects prices will probably hold in that range through to the third quarter, while cautioning the raw material may trend lower longer term as scrap usage rises and steel demand weakens in China. The commodity will average $65 a ton this year, before easing to $60 in 2019, according to commodities strategist Tracy Liao. That compares with a year-to-date average…

Burundi Voters Back Longer Presidential Terms in Referendum

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BUJUMBURA (Capital Markets in Africa) – Burundian voters backed sweeping constitutional changes including extending presidential terms to seven years, setting the stage for Pierre Nkurunziza to continue ruling the East African country until 2034. The proposed changes were backed by 73.3 percent of people who cast a vote in the May 17 referendum, the head of the electoral committee, Pierre Claver Ndayicariye, told a briefing Monday in the capital, Bujumbura. About 19.3 percent voted “no,” while…

The Legal Cases Ensnaring Prominent South African Officials

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JOHANNESBURG (Capital Markets in Africa) – A slew of legal cases involving South African politicians and officials, including former President Jacob Zuma, are working their way through the courts, with some prominent public figures at risk of being jailed or losing their jobs. This is the state of play of some of the most high-profile lawsuits: Zuma’s graft trial Zuma, who the ruling party forced to resign in February after a scandal-tainted tenure lasting almost nine…

How Saving Steinhoff Became Heather Sonn’s 14-Hour-a-Day Mission

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JOHANNESBURG (Capital Markets in Africa) – Chairwoman seeks a ‘fair outcome’ for stakeholders after accounting scandal brings giant retailer to the brink Until December, Heather Sonn was running a small investment firm in Cape Town. Then an accounting scandal erupted at Steinhoff International Holdings NV and she was tapped to chair the board. The 46-year-old says she accepted the non-executive role because she felt a duty to those affected by the crisis, which has wiped more than 95…

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