Politic |

Ghana Leader Favors Constitutional Change to Boost Finances

ACCRA (Capital Markets in Africa) – Ghana’s President Nana Akufo-Addo said he is in favor of changes to the West African country’s constitution that will allow lawmakers better oversight over public finances. Akufo-Addo, whose National Patriotic Party came into power in January in the world’s second-biggest cocoa producer, is battling rising public debt following a discovery of about 7 billion cedis ($1.6 billion) in unplanned spending by the previous administration of President John Mahama. The new government is…

South Africa’s ANC Leans to ‘Fiscal Populism’ After Vote Setback

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: South Africa’s ruling African National Congress is leaning toward more populist economic policies to win back support after its worst performance in an election since Nelson Mandela led the party to victory in a vote that ended apartheid in 1994. The ANC will press the government to prioritize creating jobs and alleviating poverty in the national budget at the four-day cabinet meeting that started Tuesday, Secretary General Gwede Mantashe said after the party’s top…

Mugabe’s Purged Ally Appears With Tsvangirai in Opposition Boost

Posted on by The Editorial Team

HARARE, Capital Markets in Africa: Zimbabwe’s former Vice President Joice Mujuru appeared at rallies with his political foe Morgan Tsvangirai in the central city of Gweru, boosting opposition against President Robert Mugabe. Mujuru, who served in Mugabe’s first cabinet in 1980 and rose to become the 92-year-old leader’s deputy, formed Zimbabwe People First after being expelled from the ruling Zimbabwe African National Union – Patriotic Front in 2014 after she was accused of plotting Mugabe’s…

Lungu Wins Zambia Presidential Vote Rival Says Was Rigged

Posted on by The Editorial Team

LUSAKA, Zambia, Capital Markets in Africa: Zambian President Edgar Lungu was declared the winner of an Aug. 11 election that the main opposition said was stolen by the electoral commission and ruling party officials who colluded to rig the outcome — an allegation the authorities deny. Lungu, 59, secured a five-year term with 1.86 million of the about 3.7 million valid votes cast, surpassing the 50 percent mark needed to avoid a runoff, Esau Chulu, chairman of…

Ethiopia Key U.S. Africa Ally Faces More Unrest After Scores Killed

Posted on by The Editorial Team

Addis Ababa, Ethiopia, Capital Markets in Africa: Ethiopia, a key U.S. ally in the fight against Islamist militants in East Africa, faces the prospect of further unrest after a crackdown on anti-government demonstrations held by its two largest communities over the weekend that Amnesty International said left 97 people dead. Security forces opened fire on protesters in the country’s Amhara region, with the worst bloodshed in the northern city of Bahir Dar where at least 30 people…