Political Risks |

Opposition Fortunes Wane as Tanzania President Rules Supreme

DAR ES SALAAM (Capital Markets in Africa) – Two years into his rule, Tanzanian President John Magufuli has some unexpected new fans: his political opponents. His chief rival in the 2015 vote, Edward Lowassa, has praised his reforms and urged others to support them. Another challenger became one of his regional commissioners, while two opposition lawmakers recently defected to the ruling party and will run as candidates in February by-elections. These could be signs that Magufuli, who’s nicknamed…

Zimbabwean Opposition Party Says Mnangagwa Rule Is Illegitimate

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HARARE (Capital Markets in Africa) – Zimbabwe’s opposition National People’s Party said the country’s new president, Emmerson Mnangagwa, lacks legitimacy and is overseeing military rule ahead of elections he says will take place before July. Mnangagwa should return Zimbabwe to legitimate civilian rule and introduce electoral reforms, Joice Mujuru, head of the NPP, said in an emailed statement late Thursday. He must also undo “oppressive” legislation that undermines press freedom and enables the persecution and arrest of…

Kenyan Opposition Says It Has Evidence Odinga Won Election

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NAIROBI (Capital Markets in Africa) – Kenya’s opposition National Super Alliance said it has evidence that former Prime Minister Raila Odinga won the nation’s Aug. 8 presidential election. The alliance has a document containing “authentic, unpolluted, unadulterated” data that shows Odinga and his running mate, Kalonzo Musyoka, were the legitimate winners of the vote, Nasa Senator James Orengo told reporters Friday in the capital, Nairobi. Odinga garnered 8.1 million ballots in the vote, compared with 7.9 million for incumbent President Uhuru…

Nigeria’s Political Deadlock Threatens Economic Rebound

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LAGOS (Capital Markets in Africa) – Nigeria’s central bank has fallen victim to a battle between President Muhammadu Buhari and his parliament. The Monetary Policy Committee won’t meet as scheduled this week because it lacks a quorum after the Senate refused to approve Buhari’s nominees for the panel, meaning the central bank couldn’t formally set interest rates. That setback adds to the economic fallout from a longstanding political standoff: lawmakers are threatening to delay his budget for a third year…

Farmer-Herder Violence in Central Nigeria Challenges Buhari

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LAGOS (capital Markets in Africa) Already grappling with Islamist militants in the northeast, secessionists in the east and unrest in the oil-rich Niger River delta, Nigerian President Muhammadu Buhari is facing an upsurge in violence between crop farmers and herders that may threaten his party’s election chances next year. Images of bodies hacked with machetes and perforated by bullets shared on social media are galvanizing voices against Buhari. More than 120 people were killed in Benue and…

South Africa Moves to Freeze McKinsey, Gupta-Linked Assets

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JOHANNESBUG (capital Markets in Africa) – South African prosecutors moved to freeze 1.6 billion rand ($130 million) of assets held by McKinsey & Co. and a company linked to the Guptas, the first significant response to corruption allegations against the politically connected family. McKinsey earned about 1 billion rand in consultancy fees from Eskom Holdings SOC Ltd. in 2016, but has since pledged to pay it back after being drawn into allegations the Guptas used their friendship with…

Liberia’s Ruling Party Expels Outgoing President Johnson Sirleaf

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MONROVIA (Capital Markets in Africa) – Liberia’s ruling party expelled outgoing President Ellen Johnson Sirleaf, saying she violated the party’s rules by not supporting its candidate, who was defeated in last month’s presidential election. The Unity Party’s executive committee voted on Saturday to expel Johnson Sirleaf because she campaigned against Vice President Joseph Boakai in the election, according to an emailed statement from the party. Three other party officials were also expelled. “The behaviour of the expelled persons…

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