Features

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…

KHARTOUM (Capital Markets in Africa) – Sudan began its first full day in 30 years without Omar al-Bashir in charge, as protesters in the North African nation vowed to keep up the pressure on the military that deposed him to make way for a civilian government. Demonstrators maintained an overnight sit-in outside army headquarters in the capital, Khartoum, in spite of a 10 p.m.-4 a.m. curfew imposed when the military seized power. Defense Minister Ahmed Awad Ibn…

NAIROBI (Capital Markets in Africa) – Kenya Airports Authority expects its land holdings to be worth more than 1 trillion shillings ($9.9 billion) after a revaluation is concluded in a month, Chief Executive Officer Jonny Andersen said. “Since we’ll have a different balance sheet, we can go to the banks and ask for completely different financing because we’ll have so much value,” Andersen said in an interview in the Kenyan capital, Nairobi. “It will completely…

JOHANNESBURG (Capital Markets in Africa) –  Steinhoff International Holdings NV pushed back the dates for the publication of audited earnings for 2017 and 2018 after the findings of a forensic probe by PwC made the process more time consuming and complex. The South African retailer, which almost collapsed amid an accounting scandal in late 2017, is working toward ensuring that all appropriate adjustments are made to valuations and profitability at various subsidiaries, the company said in…