Features

CAIRO (Capital Markets in Africa) – Egypt’s parliament is expected to vote Tuesday on whether to amend the constitution to let President Abdel-Fattah El-Sisi remain in office until 2030. The amendment, approved Sunday by parliament’s legislative committee, moderates earlier proposals that could have kept El-Sisi in office until 2038. Under the latest version, the presidential term would be extended to six years from four, with a limit of two terms. An exception would be made for El-Sisi, who would…

KHARTOUM (Capital Markets in Africa) – Sudanese pro-democracy protesters won further concessions from the army that overthrew President Omar al-Bashir, as upheaval in the ruling military council signals a power struggle among the remnants of his 30-year regime. Since taking control on April 11, the council has canceled its curfew, freed prisoners, changed leadership and vowed to review laws that brought trials for perceived indecency or apostasy, all in response to mass protests. Yet it hasn’t…

LONDON (Capital Markets in Africa) – Both Theresa May’s government and the opposition Labour Party said Sunday that their talks represented the best chance of finding a Brexit solution and ending months of deadlock. But even as David Lidington, May’s de facto deputy, said there was common ground between the two sides, a former leader of May’s Conservative Party called on her to end the discussions, pull Britain out of the European Union and then resign as…

LONDON (Capital Markets in Africa) – Jeremy Corbyn being elected U.K. prime minister would be just as damaging to British banks’ profits as the country crashing out of the European Union without a withdrawal agreement, according to Citigroup Inc. While London-listed bank stocks have recovered from last year’s lows as the risk of a “no-deal Brexit” gradually subsides, a snap election is becoming more likely as lawmakers in Westminster remain unable to agree on a future…

KHARTOUM (Capital Markets in Africa) – Omar al-Bashir led a military coup that kicked off Sudan’s Islamic revolution in 1989. Now, after three decades in charge, he has been pushed out after a wave of nationwide protests over soaring prices for food, medicine, fuel and transport. The 75-year-old ruler, who was indicted in 2009 by the International Criminal Court for alleged war crimes and genocide in the country’s Darfur region, had insisted he would only leave office if he lost elections in…

Now the rest of the world must redouble its support for the popular movement still fighting for freedom. KHARTOUM (Capital Markets in Africa) – The ouster of Sudanese President Omar al-Bashirshould be a moment for celebration: one of the world’s worst villains, driven from power after waves of popular protest. Ideally, after a few weeks of house arrest spent hearing from the families of people he had tortured and murdered, he should be sent off to the International…

LAGOS (Capital Markets in Africa)  – Seplat Petroleum Development Co. and Nigeria’s state oil company will raise $700 million for a joint gas project scheduled to start production next year as the government steps up plans to reduce the country’s reliance on oil. The project, known as Assa North-Ohaji South, is one of seven to boost gas production and infrastructure development in the West African nation, the continent’s biggest producer of crude. ANOH Gas Processing Co., which…