Features | - Part 174

Tanzanian Opposition Leader Arrested for Inflammatory Speech

DAR ES SALAAM (Capital Markets in Africa) – Tanzanian police arrested the leader of the opposition Alliance for Change and Transparency after he gave a speech about the current state of the country’s economy. The authorities detained Zitto Kabwe on Tuesday and he’s currently being questioned about the speech he made on Oct. 29 in Dar es Salaam, the commercial capital, Abdallah Khamis, the ACT’s spokesman, said by phone. The party’s lawyers are trying to…

Russia Signs Agreement With Nigeria for Nuclear Power Plant

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Russia has signed agreements with Nigeria to build and operate a nuclear power plant in the oil-rich West African nation that has a deficit of reliable power and faces security challenges by Islamist militants in the far northeast. Feasibility studies for the plant and a research center construction will include site screening, capacity, financing, and time frames of the projects, state-owned Russian nuclear company Rosatom said in an emailed…

Zimbabwe Ruling Party Moves to Include a Woman in Top Body

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwe’s ruling party will probably amend its constitution to ensure that a woman is appointed to its top body, which currently has three men, according to a draft document sent to senior members of the party by its secretary for administration, Ignatius Chombo. The move may pave the way for President Robert Mugabe’s wife Grace to join the Presidium at a party congress in December, according to University of Zimbabwe professor Eldred…

Kenyatta Named Winner of Kenyan Vote Rerun as Odinga Cries Foul

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenyan President Uhuru Kenyatta was announced as the landslide winner of a chaotic election rerun that his main rival Raila Odinga rejected as a sham. Kenyatta, 56, won 7.48 million votes, or 98.3 percent of the total cast on Oct. 26, Wafula Chebukati, the chairman of the Independent Electoral & Boundaries Commission, said Monday in Nairobi, the capital. The turnout was 38.8 percent, down from 79 percent in an Aug. 8 contest that…

Nigerian President Fires Officials Facing Corruption Allegations

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari fired two top aides facing graft allegations after receiving the report of an investigation he ordered. David Lawal was replaced as the secretary to the government by Boss Mustapha with “immediate effect,” while Ayo Oke was fired as the director general of the National Intelligence Agency without replacement, according to an emailed statement from the presidency. Buhari directed Vice President Yemi Osinbajo in April to lead an investigation into allegations of…

Rwanda Asks UN for Details After Anti-Torture Panel Halts Visit

Posted on by The Editorial Team

KIGALI (Capital Markets in Africa) – Rwanda’s government called on the United Nations to publicly describe the impediments the global body said prompted its torture prevention panel to cut short a fact-finding visit to the East African country last week. The UN Subcommittee on Prevention of Torture, which was on the fifth day of its one-week visit, said Oct. 20 it couldn’t continue because of “a series of obstructions” from authorities and fears of reprisals among those…

Gigaba in `Hard Place’ With South Africa’s $2.9 Billion Tax Hole

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African Finance Minister Malusi Gigaba faces a gaping budget hole — and will have to consider cutting spending, raising taxes and selling state assets if he wants to avoid further ratings downgrades. The economy he oversees is hampered by a deteriorating growth outlook, partly stemming from a battle for control of the ruling party that’s stoked political uncertainty and deterred hiring and investment. Gigaba will outline policy changes in his first mid-term budget…

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