Features | - Part 204

Nigeria Senator Says Work on 2017 Budget Stalled by Police Raid

LAGOS (Capital Markets in Africa) – A Nigerian lawmaker said work on passing the overdue 2017 budget stalled after police raided his house last week and took away key papers. The police denied confiscating any budget-related document. “The police truncated work on the 2017 budget by the invasion of my house,” Senate Appropriations Committee Chairman Danjuma Goje told reporters Wednesday in the capital, Abuja. “I don’t know if the police are now working on the…

South Africa’s Nuclear Plans Stall as Process Ruled Unlawful

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa hasn’t complied with the constitution in seeking bidders for a nuclear-energy program and must cancel any deals that have already been signed, the Western Cape High Court ruled. The government must hold public hearings and debate the estimated 1 trillion-rand ($76 billion) program in Parliament, according to a ruling read out on Wednesday by Judge Lee Bozalek in a case brought by civil-society groups Earthlife Africa and…

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country. The restaurants are scheduled to begin serving in the capital, Addis Ababa, by November, franchisee Aschalew Belay said in an interview Monday. Aschalew’s company, Belayab Foods and Franchise, will run the local outlets of the Yum! Brands Inc. pizzeria and will have invested $5.5 million…

South Africa to Study Annual Wealth Tax as It Targets Rich

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s finance ministry has asked for a study into the introduction of an annual wealth tax as the government seeks to boost the standard of living of the black majority. The Davis Tax Committee, which makes recommendations to the National Treasury, also requested submissions from the public on the feasibility of a land tax and a national tax on the value of property in addition to existing charges, it…

Nigeria’s Buhari Suspends Top Aides Over Graft Allegations

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari suspended two senior administration officials linked to graft allegations and ordered an investigation, the presidency said. David Lawal, secretary to the government, is being probed for alleged violations of “law and due process” in the award of contracts, presidential spokesman Femi Adesina said Wednesday in an emailed statement. Ayo Oke, head of the National Intelligence Agency, is facing investigation over the discovery of $38 million and other currencies in…

The Role of Commercial Debt In Infrastrcuture Funding

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – It is without a doubt that innovative, consistent, funding sources are needed to fill the estimated circa USD93 billion annual African public infrastructure shortfall over the next decade in rail, road, port, water, and power infrastructure across the continent. A lot has been written about the state of existing infrastructure and the lack of new investment and maintenance which has led to the slow and meagre generation of GDP…

Managing Political Risk When Investing in Africa

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Africa is rarely shy of reminders of the critical role that political risk can play in impacting on investments. From the headline-grabbing Arab Spring uprisings that rocked North Africa in 2011 to the sweeping changes in government witnessed in Nigeria and Tanzania following elections in 2015, politics can play a big role in determining business fortunes. And against a global backdrop of rising political uncertainty and nationalism, and a…

« 1 … 202 203 204 205 206 … 258 »