Features

LONDON (Capital Markets in Africa) – Boris Johnson will change the law to ensure the Brexit transition phase is not extended, setting up a new cliff-edge for a no-deal split with the European Union at the end of next year. The pound erased all its gains made since last Thursday’s general election. The U.K. prime minister wants to deliver his election promise to ratify a new free-trade agreement with the bloc before the bridging period maintaining the status quo…

LAGOS (Capital Markets in Africa) – U.S. Defense Secretary Mark Esper said Turkey’s threats to close two critical NATO installations if it’s sanctioned for growing military ties to Russia raise questions about the country’s commitment to the Western alliance. A day after President Recep Tayyip Erdogan warned of possible retaliation if the U.S. imposes penalties over Turkey’s purchase of a Russian missile system, the Pentagon chief suggested the country may have set itself on a collision course with the…

LAGOS (Capital Markets in Africa) – U.S. Defense Secretary Mark Esper said Turkey’s threats to close two critical NATO installations if it’s sanctioned for growing military ties to Russia raise questions about the country’s commitment to the Western alliance. A day after President Recep Tayyip Erdogan warned of possible retaliation if the U.S. imposes penalties over Turkey’s purchase of a Russian missile system, the Pentagon chief suggested the country may have set itself on a collision course with the…

JOHANNESBURG (Capital Markets in Africa) – South Africa’s government revived a so-called Energy War Room to tackle the nation’s electricity crisis, as it brought forward the date when the incoming chief executive officer of the state power utility will start work. The team, to be headed by Deputy President David Mabuza, will seek to avoid a repeat of a nine-day blackout earlier this month that risks tipping the economy into recession. Debt-ridden Eskom Holdings SOC…

KIGALI (Capital Markets in Africa) – Rwandan President Paul Kagame is considering not running for a fourth term once his current tenure ends in 2024 after being in power for more than two decades. The former rebel leader who helped end Rwanda’s 1994 genocide in which about 800,000 people died, has been president since 2000. He won the east African nation’s most recent election in 2017 by a landslide after a referendum that extended presidential tenures to…

LONDON (Capital Markets in Africa) – In the offices of the U.K. Labour Party, there were astonishing cheers. At Conservative headquarters, it was as though the air had been sucked out of the room. The moment the exit poll dropped at 10 p.m. on election day in 2017 was the moment Theresa May realized she had spectacularly failed. It was the second time in a row the exit poll — more reliable than normal surveys…

ADDIS ABABA (Capital Markets in Africa) – Ethiopian Prime Minister Abiy Ahmed, who won the Nobel Peace Prize for forging an end to almost two decades of conflict with neighboring Eritrea, described how his personal exposure to the horrors it wrought drove him to seek a rapprochement. “War is the epitome of hell for all involved,” Abiy, who served as a radio operator in the Ethiopian army and was the only survivor of an artillery…