Politics | - Part 16

South African Union to Oppose DA Plan to Fire Workers in Capital

JOHANNESBURG (Capital Markets in Africa) – South Africa’s biggest union for municipal workers will oppose plans by the Democratic Alliance to fire 900 employees in Tshwane, the city council that includes the capital, Pretoria, and that the main opposition party won control of in August local elections. “As the largest trade union in local government we will oppose this move by the municipality,” Mpho Tladinyane, South African Municipal Workers Union regional secretary in Tshwane, said…

Congo Election Body Proposes Two-Year Wait for Presidential Vote

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KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo’s electoral authority said presidential elections will be delayed until 2018, angering opposition leaders who are demanding President Joseph Kabila step down this year. The commission “hasn’t called elections in 2016 because the number of voters isn’t known,” Norbert Basengezi Katintima, vice president of the Independent National Electoral Commission, known by its French acronym CENI, told reporters Thursday in South Africa’s capital, Pretoria. Voter registration has started…

Nigeria Can Sue Chevron, Total Over Illegal Exports, Judge Says

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LAGOS (Capital Markets in Africa) Nigeria’s government can take the local units of Chevron Corporation and Total SA to trial for illegally exporting oil, a judge said. Justice Cecilia Olatoregun dismissed claims from the companies that they had no cases to answer at a hearing in the Federal High Court in Lagos, Nigeria’s commercial capital, on Friday. The trials will begin on Oct. 26, she said. “The government is seeking revenues that it lost due to under-declarations” of…

S&P Says Political Tension in South Africa ‘Must Be Watched’

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JOHANNESBURG (Capital Markets in Africa) – Political tension in South Africa is making economic reforms more challenging and must be watched, according to S&P Global Ratings. “We clearly stated that there is a concern that political tension stifles the reform effort, so that must be watched,” S&P Managing Director for sub-Saharan Africa Konrad Reuss said in an interview in Johannesburg on Thursday. “In the current climate of political tension and turmoil it’s certainly more challenging now to achieve all…

Nigerian Lawmakers to Probe Claim $17 Billion of Oil Stolen

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LAGOS, Capital Markets in Africa: Nigeria’s lower house of parliament ordered an investigation into whether $17 billion of fuel exports were stolen. Most of the oil and liquefied natural gas ended up in the U.S. and some went to China and Norway between 2011 and 2014, Johnson Agbonayinma, a lawmaker, told the House of Representatives in the capital, Abuja, on Thursday. The missing products include about 58 million barrels of oil and 727,000 metric tons…

Libyan oil port takeover gives edge to eastern commander

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TRIPOLI, Capital Markets in Africa: Less than a fortnight after forces loyal to Khalifa Haftar swept into four of Libya’s oil ports, tankers are loading, production has jumped, and momentum has shifted firmly in the divisive former general’s favour. For Haftar’s opponents, and for Western powers, the move on the ports was alarming. Haftar and his backers in eastern Libya have been in a stand-off for months with a unity government in Tripoli, blocking any…

‘Timebomb’ Road Is Economy Lifeline in World’s Newest Nation

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SOUTH SUDAN, Capital Markets in Africa: When trucker James Okumu slams his pedal to the floor for the three-hour drive between South Sudan’s capital and the Ugandan border, he feels like he’s sitting on a timebomb. “You don’t know when it will explode,” said the 37-year-old Ugandan, who regularly plies the 195-kilometer (121-mile) route to transport vegetables and rice to Juba from his home country. Unidentified gunmen have ambushed buses and fuel-tankers on the winding road this month,…

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