Features | - Part 198

Protest-Hit Ethiopia Region Plans Oil Company to Calm Unrest

ADDIS ABABA (Capital Markets in Africa) – A central Ethiopian region that’s seen almost two years of sporadic anti-government protests is planning a new private oil company and is in talks to import Middle Eastern crude, part of an economic initiative authorities say will address some of the roots of the unrest. Oromia Petroleum Share Co., the planned venture, will import the oil via Djibouti, process it at a new large-scale refinery and distribute it…

African Leader Son’s Multimillion-Euro Splurge on $80,000 a Year

Posted on by The Editorial Team

Equatorial Guinea (Capital Markets in Africa) – The son of Equatorial Guinea’s president bought real estate, a Bugatti Veyron, a Cartier watch and bottles of prestigious Romanee Conti wine on his $80,000-a-year position as a government minister. French prosecutors are demanding he account in court for these and other purchases, which total more than 100 million euros ($112 million). Teodoro Nguema Obiang Mangue, agriculture minister for more than a decade, is accused of amassing real…

The Leader Who Caused a Slump: Zuma Blamed for South Africa Mess

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JOHANNESBURG (Capital Markets in Africa) – The last time South Africa fell into recession, in 2009, it was because of the global financial crisis. This time around, economists and business executives agree, the cause is a person: the president. Jacob Zuma’s erratic political moves are breeding policy uncertainty and reluctance to invest, helping explain why the economy of the continent’s most industrialized nation contracted for a second straight quarter in the three months through March. Finance,…

EU Wins First Battle of Brexit Talks as U.K. Retreats on Timing

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LONDON (Capital Markets in Africa) – The U.K. lost its first battle with the European Union over the timetable for Brexit talks as the bloc’s chief negotiator warned that the consequences of leaving will be “substantial.” On day one of the negotiations, Prime Minister Theresa May’s government gave in to EU demands to discuss the terms of its divorce — including the exit fee — before any consideration can begin on the future trade deal Britain…

Increase in Mali Attacks Shows Need for Regional Force, UN Says

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BAMAKO (Capital Markets in Africa) – Insecurity is spreading in Mali and across its borders as the number of militant attacks rose and new armed groups emerged over the past year, underscoring the need for military cooperation in West Africa, according to the United Nations Secretary General. Violent extremists carried out 201 attacks against the Malian security forces, UN peacekeepers and French troops since June last year, compared to 165 assaults in the previous 12…

Wiese’s Brait Seeks Growth in Asia as S. Africa, U.K. Wilt

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JOHANNESBURG (Capital Markets in Africa) – Brait SE, the investment company owned by South African billionaire Christo Wiese, plans to expand its Virgin Active gym chain in the Asia Pacific as it battles difficult operating conditions in its biggest markets, including South Africa and Britain. The stock has dropped for 18 straight days, the longest losing streak on record, and tumbled to a three-year low on Wednesday after the company slid to a full-year loss. Brait…

epic ERP teams up with CentralCloud to roll out cloud-based ERP solution to the African market

Posted on by The Editorial Team

JOHANNESBURG – June 14, 2017 – epic ERP, a value added Epicor enterprise resource planning (ERP) software reseller, has joined forces with CentralCloud to bring clients within Sub-Saharan Africa the flexibility and scalability of an end-to-end, feature rich cloud-based ERP solution. CentralCloud is associated with Alviva Holdings, one of Africa’s largest providers of information and communication technology products and services. “While Epicor cloud-deployed ERP has brought customer success to hundreds of companies globally, epic ERP…

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