Congo Leader Visits Saudi Arabia Seeking Infrastructure Funding

Congo Leader Visits Saudi Arabia Seeking Infrastructure Funding

KINSHASA (Capital Markets in Africa) – Republic of Congo President Denis Sassou Nguesso traveled to Saudi Arabia to request funding for infrastructure projects, the central African nation’s government spokesman said. Sassou Nguesso was in Riyadh Sunday, where he was received by King Salman bin Abdulaziz al Saud, Thierry Moungalla said by phone from the Congolese capital, Brazzaville. The president was accompanied by officials including Finance Minister Calixte Ganongo and Maixent Ominga, the head of Congo’s state oil company….

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New Congo Voting System Risks Election’s Credibility, Groups Say

New Congo Voting System Risks Election’s Credibility, Groups Say

KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo began testing voting machines as part of a new system that civil-society groups said will undermine the credibility of long-awaited elections that seek to end the central African nation’s political crisis. The new technology will be used in the vote scheduled Dec. 23 to pick a successor to President Joseph Kabila. His decision to remain in office beyond the end of his final term in…

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Nigerian President Buhari Will Seek Second Term in 2019

Nigerian President Buhari Will Seek Second Term in 2019

LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari has decided to run for re-election in February, ending months of speculation about whether the former military ruler would seek a second term. The announcement of the decision by Buhari, 75, on Monday came at a time of growing criticism of his performance and uncertainty in his ruling All Progressives Congress about his plans. He was in the U.K. for a total of five months last year…

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Angola Gets $500 Million From HSBC Account Frozen Due to Fraud

Angola Gets $500 Million From HSBC Account Frozen Due to Fraud

LUANDA (Capital Markets in Africa) – Angola has recouped $500 million that was frozen in an HSBC Holdings Plc account in London linked to an alleged fraud, the Finance Ministry said. The funds were part of $1.5 billion that the Angolan government was to pay Mais Financial Services, a company managed by a person close to Jose Filomeno dos Santos, the son of Angola’s former president, for the start-up of a $35 billion strategic investment…

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Zuma’s Graft Case Adjourned Until June by S. African Court

Zuma’s Graft Case Adjourned Until June by S. African Court

JOHANNESBURG (Capital Markets in Africa) – Former South African President Jacob Zuma’s corruption case was adjourned until June 8, signalling that a criminal trial may be delayed until at least the end of the year. Zuma, 75, is facing 16 charges brought by the National Prosecuting Authority that range from corruption to racketeering related to bribes he allegedly took in the 1990s from weapons dealers including French arms maker Thales SA, which is also a defendant….

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Ex-Civil War Leader Wins Presidential Vote in Sierra Leone

Ex-Civil War Leader Wins Presidential Vote in Sierra Leone

FREE TOWN (Capital Markets in Africa) – Sierra Leone elected as president an opposition politician who briefly ruled the West African nation as head of a junta during the civil war in the 1990s. Julius Maada Bio of the Sierra Leone People’s Party was declared the winner on Wednesday of a tight presidential run-off by the electoral commission after receiving 51.81 percent of ballots cast against 48.19 percent for his opponent, Samura Kamara, of the All…

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Tanzania Grants Bail to Opposition Leaders Accused of Sedition

Tanzania Grants Bail to Opposition Leaders Accused of Sedition

DAR ES SALAM (Capital Markets in Africa) – A Tanzanian court granted seven opposition officials bail after most were detained for a week on charges of sedition, incitement to violence and unlawful assembly, their political party said. Chadema Party Chairman Freeman Mbowe, Secretary-General Vincent Mashinji and four others had been remanded in custody since March 28. A seventh person, lawmaker Halima Mdee, was arrested April 1 on arrival at the airport in Dar es Salaam, the commercial…

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