Features

PORT LOUIS (Capital Markets in Africa) – Mauritian Prime Minister Pravind Jugnauth accused the nation’s president of back pedalling on a promise to resign amid allegations of misconduct, vowing to take unspecified actions. The dispute between the two leaders has ratcheted up uncertainty on the Indian Ocean island, which been politically and economically stable since it gained independence from Britain in 1968. The World Bank ranks the country as the easiest place to do business in Africa….

JOHANNESBURG (Capital Markets in Africa) – Jacob Zuma’s exit as South Africa’s president has given a new lease of life to the nation’s previously submissive parliament. While the African National Congress used its dominance of the legislature to shield Zuma and his appointees through repeated scandals, its lawmakers have found their voice since Cyril Ramaphosa replaced him as party leader in December and as president last month. Cabinet ministers and officials have been grilled over the misuse of…

JOHANNESBURG (Capital Markets in Africa) – South African Airways suspended two executives including Chief Financial Officer Phumeza Nhantsi following unspecified allegations made against them in a forensic probe of the state-owned airline. Musa Zwane, who was acting chief executive officer for two years until November, has also been placed on leave pending a disciplinary hearing, SAA spokesman Tlali Tlali said Tuesday. The airline won’t comment further while the probe is ongoing and both executives are presumed innocent, he said….

LAGOS (Capital Markets in Africa)- Samsung C&T Corp., an affiliate of the world’s biggest smartphone maker, is in talks for a multi-year deal to buy cobalt from a Congolese miner, joining Apple Inc. in the global rush to secure supplies of the metal at the heart of the electric-car boom. Samsung C&T has approached Somika SPRL to buy cobalt produced at its Kisanfu mine in the Democratic Republic of Congo after only buying copper from the company for the past four…