Features | - Part 146

Local Content in Africa: Oil Lessons for the Future

LAGOS (Capital Markets in Africa) – If any two words have dominated the debate about oil and gas in Africa over the last few years, they have been “local content”. The term encapsulates the idea that oil revenue can be used to develop the wider economy by making it local. The term has until recently been narrowly coined in reference to the nationalisation of industry, but more recently it has been used in the wider…

Is Crypto Fundraising Bringing New Opportunities to Africa?

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Investing in any of the top digital currencies is well above of means of most Africans. For example, one bitcoin in Nigeria values at more than three million naira. This is in a country where around half its population survives on less than 800 naira (just over $2) a day. The minimum wage in Nigeria currently stands at 18,000 naira ($around $60) per month. This situation is reflective of…

South Africa Offers State Workers Inflation-Busting Pay Rise

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa is offering unions representing 1 million state employees inflation-busting pay increases at a time when the country needs to rein in spending to help keep its investment-grade credit rating. Negotiations over wages for teachers, nurses and other state workers are testing the ability of the new cabinet, led by President Cyril Ramaphosa, to walk a political tightrope with labor unions that supported his rise and keep the country’s…

Mugabe Party Said to Fear Zimbabwe Vote Loss After His Exit

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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

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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

Posted on by The Editorial Team

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….

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