Features | - Part 160

Tanzanian Probe Finds Airtel Unit Was Privatized Illegally

DAR ES SALAAM (Capital Markets in Africa) – A Tanzanian probe found that the local unit of Indian mobile-phone company Bharti Airtel Ltd. was originally transferred from the state illegally and the government will start talks to retake what it says is its rightful share of the business. The investigation discovered that the initial privatization of Tanzania Telecommunications Corp. “broke the law, regulations and procedure,” according to a statement from President John Magufuli’s office that quoted Finance Minister Philip…

Kenya: 2018 Real Estate Investments Opportunities and Trends

Posted on by The Editorial Team

What real estate investor should look for in 2018? The economy is expected to rebound in 2018 following a difficult 2017. Some of this rebound will trickle down to the Real Estate market but developers and property owners should not expect things to normalize immediately. In this instance, where should Real Estate Investors focus their attention in 2018? Key 2018 Macroeconomic trends 2017 saw a significant reduction in consumer spending and both local and international…

Zimbabwe Opposition Mulls Future Without Founder Tsvangirai

Posted on by The Editorial Team

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…

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