Features

LONDON (Capital Markets in Africa) – As Boris Johnson hurtles toward a no-deal Brexit that could leave the U.K. diplomatically adrift and economically vulnerable, President Donald Trump is looking to seize an opportunity to lure the country away from Europe on some of his top foreign policy priorities: Iran and Huawei. Yet with Johnson focused on negotiating a breakup with the European Union — and perhaps a snap election at home — the White House may have to be…

HARARE (Capital Markets in Africa) – Frustrated by Democrats from fulfilling a campaign pledge to build a wall along the southern U.S. border, Donald Trump is getting his way regardless. The only downside for the president is that this wall is in southern Africa. The U.S. is putting up $475,000 to help restore the stone walls at Great Zimbabwe, a fortress that dates back to the 11th century and which gave the country its name. Much of…

LONDON (Capital Markets in Africa) – The threat of a no-deal Brexit is back, and companies on both sides of the English Channel are gearing up once again for the scenario they consider the worst case. Boris Johnson, the U.K.’s new prime minister, has vowed to lead the country out of the European Union on Oct. 31, whether or not he secures a deal to smooth the process of untangling more than 40 years of integration. What…

JOHANNESBURG (Capital Markets in Africa) – Old Mutual Ltd., fresh from an embarrassing court ruling that reinstated its fired chief executive officer, is facing another battle over whether Peter Moyo can start working again. The insurer said late Tuesday it will appeal the Johannesburg High Court judgment and that Moyo is therefore not “required or permitted to resume his duties.” Moyo arrived at the company’s headquarters on Wednesday, and will meet with Old Mutual and his legal team later…

LONDON (Capiatla Markets in Africa) – Top officials in Britain’s main opposition Labour Party are preparing a dramatic policy to campaign to reverse the 2016 Brexit vote and keep the U.K. inside the European Union, if a snap election is held in the months ahead. Labour’s manifesto for an election is being drafted already and is likely to promise another referendum on EU membership with the party campaigning for remain, people familiar with the matter…

LONDON (Capiatla Markets in Africa) – The scale of the challenge facing Boris Johnson to break Britain’s political deadlock was laid bare in his first days as prime minister, as the European Union immediately rejected his demands for a better Brexit deal. Johnson told European Commission President Jean-Claude Juncker that the U.K.’s Withdrawal Agreement with the EU would have to change for it to pass Parliament, according to his office’s account of the phone conversation between the two Thursday. Juncker said…

NAIROBI (Capital Markets in Africa) – Kenyan President Uhuru Kenyatta appointed a little-known minister as acting head of the Treasury a day after finance minister Henry Rotich was charged with corruption. Ukur Yatani Kanacho, a former governor of the northern county of Marsabit, will also retain his role as the labor and protection minister, a position he’s held since February 2018. Kenyatta also appointed Julius Monzi Muia as principal secretary at the Treasury. He previously held a…