Features | - Part 184

Goldman Sachs Sees South Africa Jobs Program Starting in January

JOHANNESBURG(Capital Markets in Africa) – A South African program to put 1 million young people into paid internships is due to start in January as the country grapples with unemployment at a 14-year high, according to Goldman Sachs Group Inc. The initiative, led by the New York-based lender and Investec, will run for three years and offers participating companies tax incentives and other benefits for employing black people, said Colin Coleman, Johannesburg-based partner and head of Goldman…

South Africa’s DA Puts Cape Town Mayor on Leave From Party Activity

Posted on by The Editorial Team

JOHANNESBURG(Capital Markets in Africa) – South Africa’s main opposition party, the Democratic Alliance, placed City of Cape Town Mayor Patricia de Lille and councillor J.P. Smith on special leave from the organization’s activities. Smith and members of the city’s Internal Investigations Unit allegedly made malicious and defamatory remarks about De Lille, Business Day reported Tuesday, citing a statement from the mayor. Some local newspapers reported that De Lille had “irregular” upgrades done at her home,…

Mozambique’s Nyusi Tightens Grip on Ruling Party After Congress

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MAPUTO (Capital Markets in Africa) – Mozambican President Filipe Nyusi cemented his grip on the ruling party at its leadership congress that ended Monday, and new leadership elected to Frente de Libertacao Mocambique’s most powerful organ may signal a cabinet reshuffle. Nyusi, who has ruled the country since the start of 2015, won nearly 100 percent of the vote to secure another five-year term as party president, as well as an endorsement to stand as its candidate in…

Kenyan Vote Body to Meet Presidential Candidates Over Impasse

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NAIROBI (Capital Markets in Africa) – Kenya’s electoral commission plans to hold talks with the candidates for this month’s presidential-election rerun as it attempts to resolve an impasse over how the vote will be handled. “We look forward to meeting with the presidential candidates today,” the Independent Electoral & Boundaries Commission said in a statement Tuesday on its Twitter account. “We hope to create a common understanding” on the October 26 election. Former Prime Minister Raila…

Kenya’s Vote Rerun Plans Set Back as Opposition Quits Talks

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s main opposition coalition walked out of negotiations on how a rerun of last month’s annulled presidential election will be managed and threatened street protests, setting back preparations for the Oct. 26 ballot. The officials quit the talks because of plans by the ruling Jubilee Party to remove powers from the Independent Electoral & Boundaries Commission, James Orengo, a senator for the opposition National Super Alliance, told reporters Thursday…

Zuma Succession Fight May Spur ANC to Pick Compromise Leader

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LAGOS (Capital Markets in Africa) – As the battle to succeed South African President Jacob Zuma as leader of the African National Congress grows increasingly fractious, party Treasurer-General Zweli Mkhize is emerging as a possible compromise choice to keep the continent’s oldest political movement from tearing itself apart. While the race for the top job is widely seen as a head-to-head contest between Deputy President Cyril Ramaphosa and Nkosazana Dlamini-Zuma, the president’s ex-wife and former chairwoman of the African Union Commission, Mkhize, a 61-year-old…

Kenyan Electoral Body in Talks With Parties on Vote Deadlock

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s electoral body held talks with opposition and ruling party officials as it seeks an agreement on how to handle the rerun of last month’s botched presidential vote, as a standoff between the three sides threatens to trigger a constitutional crisis. The meeting in Nairobi, the capital, sought to set a “framework of issues for discussions at subsequent talks” between the electoral body and the rival political parties, Norman Magaya,…

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