Features | - Part 185

Kenyan Electoral Body in Talks With Parties on Vote Deadlock

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,…

Uganda Bans Some Live Broadcasts as President-Age Debate Likely

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Ugandan authorities told broadcasters to stop airing some live coverage as the East African nation nears a parliamentary debate on a constitutional amendment that would let President Yoweri Museveni attempt to extend his three-decade rule. The Uganda Communications Commission directed all broadcasters to refrain from airing “live feeds which are in breach of the minimum broadcasting standards,” according to a statement published on Twitter by NBS Television, a local channel. The…

Biggest Expat Salary Increases Found in Alps, Arabian Desert

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Expatriates moving to Switzerland — home to some of the biggest private banks, commodity traders and pharmaceuticals companies — earn an average of more than $193,000. That’s the highest in the world and 54 percent more than if they’d stayed at home, a study published Wednesday by HSBC Holdings Plc shows. That boost in remuneration is only surpassed by the 58 percent increase enjoyed by expats relocating to Saudi Arabia’s petrodollar economy. Switzerland leads…

Algeria to Focus on Gas Output as OPEC Cuts Oil, Sonatrach Says

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ALGIERS (Capital Markets in Africa) – Algeria will focus on boosting natural gas production as the Organization of Petroleum Exporting Countries seeks to trim oil supplies to counter a global glut, according to the chief executive officer of the nation’s state-owned energy company Sonatrach Group. “As we are restricted by the OPEC quotas, our strategy today is to increase our gas production capacity,” CEO Abdelmoumen Ould Kaddour told reporters Tuesday visiting the Medgaz pipeline in Beni Saf…

Opposition Starts Protests in Kenya as Election Standoff Deepens

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s main opposition group began protests in the capital to press its demand for changes to the electoral commission before next month’s presidential election rerun, as it accused the body of working with the ruling Jubilee Party to prepare another fraudulent vote. Police fired teargas to disperse hundreds of National Super Alliance supporters who gathered outside the Independent Electoral & Boundaries Commission’s offices in the Nairobi city center on…

Angola Gets New Leader After 38 Years as Lourenco Sworn in

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LUANDA (Capital Markets in Africa) – Joao Lourenco was sworn in as president of Angola in a ceremony marking the first leadership change in almost four decades in sub-Saharan Africa’s second-biggest oil producer. The 63-year-old former defence minister takes over from Jose Eduardo dos Santos, who steps down after 38 years in office but will continue to lead the ruling Popular Movement for the Liberation of Angola until next year. The MPLA won 61 percent of…

Mugabe’s New Round of Money Printing Traps Mobius in Zimbabwe

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Robert Mugabe’s latest economic experiment is making Zimbabwe’s stocks the world’s best performers for all the wrong reasons. And there’s little foreign investors like Franklin Templeton, JPMorgan Chase & Co. and Allan Gray can do to escape: it’s practically impossible for them to pull out their money. Economic chaos has been a regular feature of investing under Mugabe’s 37-year reign because he frequently blindsides markets with policies that have devastating…

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