Features | - Part 167

Namibian Ruling Party Elects Geingob as Leader Before 2019 Vote

WINDHOEK (Capital Markets in Africa) – Namibian President Hage Geingob was elected leader of the southwestern African nation’s ruling party, positioning him to seek a second term in 2019 elections. The South West African People’s Organization also elected Deputy Prime Minister Netumbo Nandi-Ndaitwah as vice president at its congress that ended Monday, the state-owned Namibia Broadcasting Corp. said on Twitter. The Swapo party has been in power since 1990 when the country, which also borders Angola, Zambia and…

Blockchain Secondary Market Planned Amid Explosion of Interest

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – A new way for accredited investors to put money into blockchain startups is opening up. A firm called BnkToTheFuture plans to open a market in the second quarter that will let investors trade equity stakes in companies involved with the blockchain, the transaction-tracking technology that underpins digital currencies like bitcoin. BnkToTheFuture will use a blockchain ledger to keep record of those investments for clients. Its impending market will join a…

Macron Tells African Crowd He Aims to Leave Colonial Past Behind

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OUAGADOUGOU (Capital Markets in Africa) – French President Emmanuel Macron used a speech to African students to put economic development, culture and education on the same level of importance as the terrorism and migration challenges that dominated his predecessors’ relations with the continent. In a speech of almost two hours to a boisterous crowd of students at Ouagadougou University in Burkina Faso, the 39-year-old president laid out his African policy, insisting that France’s colonial past should no…

Dispute at Congo Cobalt Mine Heads to Court, Halts Supply

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DR CONGO (Capital Markets in Africa) – An attempt by Congo’s Gecamines to profit from the boom in battery metals has backfired, leaving the state-owned miner facing two international court actions and halting cobalt production at a key mine. Gecamines blocked its 16-year partner GTL’s access to the cobalt site in the south eastern Congolese town of Lubumbashi in March to make way for a new investor, as prices for the metal soared. The attempt to switch…

Mugabe Said to Quit Over Fear of Being Zimbabwe’s Qaddafi

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HARARE (Capital Markets in Africa) – An emotional Robert Mugabe finally agreed to end his 37-rule in Zimbabwe when army generals who had seized power told him they would not prevent protesters from storming his home unless he relented, three people familiar with the talks said. The peril from the protesters was real. Three days before they’d approached the gates of his mansion, known as “the blue roof,” in the affluent northern Harare suburb of Borrowdale. Chris…

Bidvest Unit Buys FinGlobal to Expand Portfolio

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JOHANNESBURG (Capital Markets in Africa) – A unit of Bidvest Group Ltd. agreed to buy FinGlobal, a provider of financial services to South Africans living outside the country, as part of an acquisition drive to expand and diversify its business. Bidvest Financial Services will fund the purchase out of its 2 billion rand ($142 million) in cash reserves, Managing Director Japie van Niekerk said by phone on Tuesday, without disclosing the value of the deal….

Mugabe Era Draws to a Close in Zimbabwe as Impeachment Looms

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HARARE (Capital Markets in Africa) – Zimbabwean President Robert Mugabe is facing the last days of his 37 years in power as lawmakers prepare started proceedings to impeach him. The ruling Zimbabwe African National Union-Patriotic Front says it will work with the opposition to ensure it has the votes in parliament to oust Mugabe, 93, after he missed Monday’s ruling-party deadline to resign. Lawmakers are expected to approve an impeachment motion on Tuesday and then appoint a…

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