Features | - Part 173

Liberia Court Halts Run-Off Election to Hear Fraud Charges

MONROVIA (Capital Markets in Africa) – Liberia’s Supreme Court halted next week’s presidential run-off vote to hear a challenge brought by a first-round losing candidate that the election was marred by fraud. The court issued a stay order for the Nov. 7 poll and will consider the complaint filed by the Liberty Party on Thursday, according to a writ issued on Wednesday. The Liberty Party lodged the objection and called for a rerun after its candidate,…

Congo Ruling Party Rebuffs U.S. Elections Call, Backs 2019 Vote

Posted on by The Editorial Team

KINSHASA (Capital Markets in Africa) – The head of the Democratic Republic of Congo’s ruling party said he supports a program under which elections will be held in April 2019 at the earliest, in an apparent rejection of a U.S. government demand that the delayed vote take place next year. The secretary-general of the People’s Party for Reconstruction and Democracy, Henri Mova Sakanyi, told members he backs the timeline given by the electoral commission, according to…

Specter of Violence Looms Over Kenya After Two Disputed Votes

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – The specter of political violence lingers over Kenya after two shambolic elections within three months left the East African nation no closer to resolving a stalemate over who’s its rightful leader. While President Uhuru Kenyatta was declared the winner of both contests, his main rival Raila Odinga rejected the Aug. 8 vote as rigged and boycotted a court-ordered Oct. 26 rerun after the electoral agency ignored his demands to fire staff and change…

Africa’s oil & gas industry needs to ‘learn to leapfrog’ and harness innovation and technology

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The oil & gas industry in Africa continues to face market challenges arising from the low oil price, competition for revenue growth and local talent together with new expectations from investors and regulators. “Africa’s oil & gas industry is experiencing significant change and upheaval. There are fundamental shifts in companies’ strategies, business models and ways of working,” says Chris Bredenhann, PwC Africa Oil & Gas Advisory Leader. The sustained…

Liberian President Denies Interfering in Vote for Successor

Posted on by The Editorial Team

MONROVIA (Capital Markets in Africa) – Liberia President Ellen Johnson Sirleaf said allegations that she interfered in the vote to decide her successor were tantamount to hate speech after her own party and those of other contenders accused her of trying to influence the election. The ruling Unity Party said on Sunday it is supporting a request by the opposition Liberty Party that the Supreme Court annuls the October 10 vote result and set a date for…

Kenya’s Largest Retailer Nakumatt to Enter Administration

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Nakumatt Holdings Ltd., East Africa’s largest retailer, is seeking a court order to enter administration as part of a plan to revive its debt-laden business. The Kenyan company will go to court on Nov. 8 for a hearing on the application, which proposes that “business-turnaround professional” Peter Kahi of PKF Consulting Limited be appointed as administrator, according to a statement emailed Monday from the capital, Nairobi. Nakumatt is “optimistic” that…

Deadly Somalia Bombings Highlight Failed Bid to Quash Al-Shabaab

Posted on by The Editorial Team

MOGADISHU (Capital Markets in Africa) – Three deadly bomb attacks in Somalia’s capital this month have highlighted the failings of a decade-long international effort to quash an al-Qaeda-linked insurgency in one of the world’s poorest countries. While African Union troops helped the federal government drive the Islamist group known as al-Shabaab out of Mogadishu in 2011, the group has continued to stage assaults in the city. The U.S. blamed it for the country’s deadliest-ever attack — an Oct….

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