Features | - Part 186

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

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…

Risky Roads a Boon for Airlines in War-Ravaged South Sudan

Posted on by The Editorial Team

SOUTH SUDAN (Capital Markets in Africa) – Ayaak Deng’s first-ever flight let her skip over a hundred miles of bloodily contested South Sudan and visit family she hadn’t seen in a year. It’s the kind of trip that’s revitalizing small airlines that initially struggled because of the almost four-year civil war. The airport in the capital, Juba, has recorded about 1,000 domestic passengers a day this month, more than five times the average in the first half…

Mauritian Whistle-Blower Drops Claims Against Attorney General

Posted on by The Editorial Team

PORT LOUIS (Capital Markets in Africa) – A Mauritian whistle-blower withdrew allegations of money laundering that forced Attorney General Ravi Yerrigadoo to step down this month. Husein Abdool Rahim, who made the allegations earlier in September, said he’d been pressured by Port Louis-based newspaper l’Express and former Financial Services Minister Roshi Badhain into making claims that Yerrigadoo helped set up a financial structure to enable the transfer of gambling winnings to bank accounts in Dubai…

Trump’s Indefinite Travel Ban Opens New Stage in Legal Fight

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – President Donald Trump restricted or suspended travel to the U.S. from eight countries, adding North Korea and Venezuela, while subtracting Sudan, from his earlier ban on travellers from six Muslim-majority nations. “I must act to protect the security and interests of the United States and its people,” Trump wrote in Sunday’s proclamation. The move came as the original order, which had been limited by court challenges, was set to expire. Speaking to…

Congo President Says Progress Being Made in Setting Vote Date

Posted on by The Editorial Team

KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo has made “irreversible” progress in preparing credible and peaceful elections, President Joseph Kabila told the United Nations, without giving a date for the vote whose delay has spurred violent protests. Speaking before the UN General Assembly on Sept. 23, Kabila said that 42 million of an estimated 45 million eligible voters have been registered. An ongoing “series of evaluations of the electoral process” should permit the “forthcoming publication” of…

Regional Power Split Threatens Vote on Zuma’s Succession

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The top leadership of South Africa’s ruling African National Congress starts meeting on Friday in a bid to heal a bitter split in the key region of KwaZulu-Natal that could derail its plans to elect a successor to President Jacob Zuma as party leader in December. The meeting comes after the High Court annulled the election of Zuma allies as the province’s party leadership because the conference that chose them wasn’t lawfully…

Uganda Fires Teargas as Protests Build Against `Life Presidency’

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Ugandan police fired teargas and arrested students protesting at the capital’s main university, local media reported, as the ruling party prepares to propose a constitutional amendment that would allow President Yoweri Museveni to seek to extend his three-decade rule. The police and army fought running battles with students at Kampala’s Makerere University on Thursday, the Observer newspaper said on its website. It also reported that police arrested the capital’s lord…

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