Features | - Part 171

The Internet of Tomatoes Is Coming, Starting With Boston Salads

LAGOS (Capital Markets in Africa) – Intrigued by how blockchain was changing finance, an ex-banker at Wells Fargo & Co. and a former executive at Nasdaq Inc. began looking for other opportunities. They looked at applying the technology to insurance, law, even music. Then they hit on farming. Raja Ramachandran and Phil Harris met when they were both working on Wall Street, in 2005 after Citigroup Inc. acquired electronic trading company Lava Trading. The pair remained friends for more than a…

Ramaphosa’s Announcement of ANC Leadership Ticket Riles Backers

Posted on by The Editorial Team

JOPHANNESBURG (Capital Markets in Africa) Leaders of the ruling African National Congress in South Africa’s richest province said they oppose Deputy President Cyril Ramaphosa’s decision to announce a ticket of running mates in his bid to become the ANC’s next president, saying it has the potential to deepen divisions in the party. While ANC leaders in Gauteng province back Ramaphosa to replace President Jacob Zuma as ANC leader, they don’t support his announcement on Sunday of a…

Kenya’s Western Allies Urge Talks to Break Elections Impasse

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s key western trading partners and political allies urged talks to resolve a deadlock over the country’s presidential elections, as the nation’s top court began considering petitions challenging the outcome of last month’s vote rerun. The Oct. 26 rerun of an annulled vote two months earlier has polarized the East African nation and exposed “deep tribal and ethnic rifts” that have characterized Kenyan politics in the past, the Atlanta-based…

Congo Opposition Parties Reject Plan for Presidential Vote

Posted on by The Editorial Team

KINSHASA (Capital Markets in Africa) – Opposition parties in the Democratic Republic of Congo presented a united front to reject plans for elections in December 2018 and insisted that President Joseph Kabila step down before the end of the year. Three large opposition groups issued identical statements on Tuesday denouncing a schedule published Nov. 5 by the Independent Electoral Commission that sets presidential and parliamentary polls for Dec. 23, 2018. The Rassemblement, an opposition coalition, along with…

African Union Begins Pulling Forces Out of War-Torn Somalia

Posted on by The Editorial Team

MOGADISHU (Capital Markets in Africa) – The African Union mission in Somalia said it has started gradually withdrawing its forces from the war-torn nation and will have 1,000 fewer troops there by the end of the year. Troop movements have begun in various parts of the Horn of Africa country and will continue in the coming weeks, the mission known as Amisom said Tuesday on its Twitter account. Security responsibilities will be gradually transferred to Somali national…

Togo Agrees to Talks With Opposition After Two-Month Protest

Posted on by The Editorial Team

LOME (Capital Markets in Africa) – Togo is preparing to hold talks with opposition parties in the West African nation after two months of protests that left several people dead, government spokesman Ihou Yao Atigbe said in a statement he read on state-owned Television TVT. The government also announced the release of 42 opposition supporters arrested during the protests in September and October. “The government therefore hopes that all this will lead the political parties…

Credit Suisse Among Banks Probed on Mozambique, WSJ Reports

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – U.S. authorities are investigating Credit Suisse Group AG, BNP Paribas SA and VTB Group for their roles in selling about $2 billion of bonds for Mozambique, the Wall Street Journal reported, citing unidentified people familiar with the matter. The Federal Bureau of Investigation is examining whether the banks facilitated corruption by enabling officials from the African nation to take money raised in the debt sales, the newspaper reported. The Justice Department…

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