Features | - Part 160

Zimbabwe Opposition Mulls Future Without Founder Tsvangirai

HARARE (Capital Markets in Africa) – Zimbabwe’s main opposition party, the Movement for Democratic Change, is in a quandary over whether its long-serving leader and founder Morgan Tsvangirai, who’s undergoing treatment for colon cancer, should retire before this year’s elections. While Tsvangirai, 65, has appeared increasingly frail, he remains the party’s most-popular official and his absence from the ballot could undermine its campaign. The MDC will be up against the ruling Zimbabwe African National Union-Patriotic Front, which…

South Africa Is Said to Assess Free-Education Cost at $970 Million

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African Finance Minister Malusi Gigaba told the ruling party’s top leadership the government will need 12 billion rand ($970 million) to fund President Jacob Zuma’s plan to scrap tuition fees for students from poor homes, according to a person with knowledge of the matter. Gigaba told the ANC’s National Executive Committee this week that the Treasury will cut from existing spending programs and won’t announce a special tax or an increase…

Angola Sets Up Body to Oversee $5 Billion Fund After Probe

Posted on by The Editorial Team

LUANDA (Capital Markets in Africa) – Angola’s Finance Ministry will set up a supervisory committee for the nation’s $5 billion sovereign wealth fund after an investigation found that its processes are inconsistent and opaque. The southern African nation will also increase oversight of Fundo Soberano de Angola by the ministry, the presidency and the central bank, the Luanda-based Finance Ministry said in a statement on its website Friday. This week, President Joao Lourenco dismissed the son of…

Trump Denies Calling Haiti, African Nations `Shithole’ Places

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – President Donald Trump on Friday denied labeling Haiti, El Salvador and African nations “shithole countries” during an Oval Office meeting with senators on immigration, despite accounts of three people briefed on the conversation. “The language used by me at the DACA meeting was tough, but this was not the language used,,’ Trump said in a Twitter posting on Friday morning, using an acronym for the Deferred Action for Childhood Arrivals, a program protecting…

Calm Returns to Ivory Coast City After Military Dispute

Posted on by The Editorial Team

ADDIS ABABA (Capital Markets in Africa) – Calm returned to Ivory Coast’s second-biggest city of Bouake after a group of soldiers attacked a military special unit and ransacked its administrative headquarters late Tuesday. “This morning it’s calm,” Bouake mayor Nicolas Djibo said by phone Wednesday. “The population is going to work.” The soldiers fired shots as they approached the base of the elite unit, known as the CCDO, setting vehicles and property alight, the defense ministry said…

South Africa’s Zuma Retains Office as Ramaphosa Bides His Time

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Jacob Zuma retained his hold on South Africa’s presidency, defying speculation that he’d be forced to make way for his deputy, Cyril Ramaphosa, who won control of the ruling party last month. The option of toppling Zuma wasn’t raised at a meeting of the African National Congress’s National Executive Committee in the southern city of East London, according to three members of the panel who spoke on condition of anonymity. Earlier…

Zuma Is Said to Allow Gupta Probe in Bid to Keep Job

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma agreed to the appointment of a commission to probe allegations that his son’s business partners had exerted undue influence over state decisions, a move aimed at defusing calls for him to step down immediately, three ruling-party officials with knowledge of the matter said. The rand fell. Zuma, 75, announced the formation of the commission late Tuesday, two days after he agreed to the probe in a…

« 1 … 158 159 160 161 162 … 258 »