Features | - Part 146

Mugabe Party Said to Fear Zimbabwe Vote Loss After His Exit

HARARE (Capital Markets in Africa) – Zimbabwe’s ruling party is growing increasingly nervous that it could lose power in its first election without Robert Mugabe at its helm against an opposition emboldened by the end of the 37-year rule of the liberation struggle leader. Three members of the Zimbabwe African National Union-Patriotic Front’s politburo, its most senior decision-making body, said the party is concerned that large rallies in rural areas show the opposition Movement for Democratic Change…

Kenya Leader Consolidates Power as Political Alliances Shift

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenyan President Uhuru Kenyatta is redefining the nation’s tenuous political alliances in a move that’s likely to help him consolidate power during his final term and leave his deputy William Ruto out in the cold. Kenyatta has patched up a long-standing dispute with the main opposition leader, Raila Odinga, easing months of political tension in the East African nation over last year’s disputed election. The rapprochement has cast doubt over whether Kenyatta will honor…

South Africa Mines Output Shrinks Most in Two Years in March

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JOHANNESBURG (Capital Markets in Africa) – Mining output in South Africa, the world’s biggest platinum producer, contracted the most in two years in March. Production shrank 8.4 percent from a year earlier, Pretoria-based Statistics South Africa said in a statement Thursday. That’s the biggest contraction since March 2016 and compares with a revised 2 percent expansion in February, it said. The median estimate in a Bloomberg survey was for a 0.2 percent increase. Platinum output…

Billionaire Bollore Is Charged in French Bribery Investigation

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JOHANNESBURG (Capital Markets in Africa) – Billionaire Vincent Bollore and two other men were charged by French investigators late Wednesday as part of a probe into the possible use of bribes in two African countries to obtain port contracts from public officials. The case stems from a case focusing on suspicions of foul play when Bollore SA was awarded contracts to operate container terminals in Lome, Togo, and Conakry, Guinea, according to a statement from his company….

South Africa Halts Social Security Payments Tender Process

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JOHANNESBURG (Capital Markets in Africa) – South African Social Development Minister Susan Shabangu has suspended the tender process aimed at securing a new distributor for the country’s social security cash payments for millions of people, afterG4S Plc lodged a complaint about discrepancies in the bid procedures. “I have resolved to have the bid for the provision of the cash payment services for social assistance suspended,” Shabangu said in an affidavit filed at the Constitutional Court on Wednesday….

Steinhoff Sells Out of Hungary Retailer in Latest Disposal

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JOHANNESBURG (Capital Markets in Africa) – Steinhoff International Holdings NV sold out of Hungarian electronics retailer Extreme Digital after its partners moved to cut ties with the South African company embroiled in an accounting scandal. Hungary’s Competition Authority approved the disposal of a 50.4 percent shareholding to the company’s two founders for an undisclosed sum, Extreme Digital said in a statement Wednesday. Steinhoff bought the controlling stake in 2015 as part of an aggressive expansion through…

Madagascans Protest New Electoral Law as President Warns of Coup

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Hundreds of opposition demonstrators took to the streets of Madagascar’s capital to protest a deadly crackdown on an anti-government rally, as the country’s president warned of a coup plot. The protesters gathered in the city’s main square two days after five people died when security forces fired on people demonstrating against the country’s new electoral laws, Agence France-Presse reported, citing unidentified organizers of the rally. President Hery Rajaonarimampianina warned in an…

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