Features | - Part 157

Ramaphosa Says South Africa Has no Cash for Nuclear Plants

JOHANNESBURG (Capital Markets in Africa)- South African Deputy President Cyril Ramaphosa, who is next in line to lead the country, said the government currently can’t afford to build new nuclear power reactors. “We have to look at where the economy is — we have excess power and we have no money to go for a major nuclear plant building,” Ramaphosa told reporters Thursday at the World Economic Forum in Davos, Switzerland. “We have said the nuclear…

Kenyan Opposition Says It Has Evidence Odinga Won Election

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s opposition National Super Alliance said it has evidence that former Prime Minister Raila Odinga won the nation’s Aug. 8 presidential election. The alliance has a document containing “authentic, unpolluted, unadulterated” data that shows Odinga and his running mate, Kalonzo Musyoka, were the legitimate winners of the vote, Nasa Senator James Orengo told reporters Friday in the capital, Nairobi. Odinga garnered 8.1 million ballots in the vote, compared with 7.9 million for incumbent President Uhuru…

Matt Levine’s Money Stuff: Crypto Finance Meets Regular Finance

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LAGOS (Capital Markets in Africa) – Yesterday I casually suggested that the ideal thing to turn into a smart contract on the blockchain is an interest-rate swap: It’s just a series of exchanges of money, with no need to do anything in the real world, so it is easy to encode in computer instructions. But one reader correctly objected that the real meat of an interest-rate swap as a contract is its credit terms. An interest-rate swap is an unfunded way to get interest-rate…

South Africa Can Make Case to Avoid Downgrade, Governor Says

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JOHANNESBURG (Capital Markets in Africa) – The attempts of the new leaders of South Africa’s ruling party to root out corruption and boost the ailing economy may mean the nation can avert another downgrade by rating companies, central bank Governor Lesetja Kganyago said. “Without pre-empting what the ratings agencies would say, South Africa is in a much better space now than where it was when previous ratings actions took place,” he said in an interview with Bloomberg…

Morocco Seeks to Defeat U.S. With Fifth Soccer World Cup Bid

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CASABLANCA (Capital Markets in Africa) – It has campaigned unsuccessfully four times before and is the sole challenger to a formidable joint bid by the U.S., Canada and Mexico. Yet Morocco still believes it has a shot at hosting the 2026 soccer World Cup. At the campaign’s launch in Casablanca on Tuesday, Moroccan officials argued the country was located in a more convenient time zone for the majority of fans, while pledging not to exploit…

U.S. Offers Mozambique Help as Attacks Roil Gas-Rich North

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MAPUTO (Capital Markets in Africa) – The U.S. government is offering Mozambique help to end fatal attacks by suspected militants in the gas-rich Cabo Delgado region, the top American diplomat in the country said. Police have arrested more than 300 people since October after raids in Mocimboa da Praia in the country’s northeast, the first of which targeted police stations and the government blamed on a “radical Islamic sect.” Sporadic attacks have continued, including this month on…

Mnangagwa Urges Zimbabwe to Move on From Ndebele Massacres

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HARARE (Capital Markets in Africa) – Zimbabwe’s new president, Emmerson Mnangagwa, is urging the southern African nation to put behind it one of its most painful episodes: the army’s massacre of as many as 20,000 people from the minority Ndebele ethnic group in the 1980s. Mnangagwa, who replaced Robert Mugabe as president in November, was minister of state security at the time of the killings that started in 1983, three years after independence from the U.K. Opposition leaders,…

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