Politics | - Part 17

Kenya’s Odinga Backs Call for Single Opposition Vote Candidate

NAIROBI, Capital Markets in Africa: Kenyan opposition leader Raila Odinga backed a call by former Vice President Kalonzo Musyoka for a single candidate to compete in next year’s presidential elections. The nominee should be fielded under banner of the Coalition for Reforms and Democracy, Odinga said in a statement e-mailed Tuesday from the capital, Nairobi. Musyoka has proposed that CORD be registered as a political party and that its three constituents each nominate a candidate, from whom one will…

Namibian President Says $5 Billion Funding Hinges on S. Africa

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WINDHOEK, Capital Markets in Africa: Namibia will seek to raise about $5 billion in loans and bonds over the next decade to help diversify and industrialize its economy with any debt sales to take place in South Africa, according to the country’s president. The southwest African nation plans to issue rand-denominated bonds and get funding from countries including the U.S., China, India and Japan, according to President Hage Geingob. “We’re looking at the South African bond market…

South Africa’s Top Gold Miner Says President Zuma Must Quit

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JOHANNESBURG, Capital Markets in Africa: South African President Jacob Zuma “has to go,” with poor governance deterring prospective investors, according to the head of Sibanye Gold Ltd., the biggest producer of bullion in the country. “Any solid investor, any solid company is founded on good governance and what we have in South Africa at the moment is very poor governance, from a government point of view,” Sibanye Chief Executive Officer Neal Froneman said in an interview on Monday from the Denver Gold…

Violence in Congo as Thousands Urge President to Step Down

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CONGO, Capital Markets in Africa: Protesters clashed with security forces across the Democratic Republic of Congo’s capital, Kinshasa, throwing rocks and burning tires as opposition parties marched to call on President Joseph Kabila to step down. Hundreds of armed police, military and presidential guard took up positions around the city center to prevent the protesters from reaching the government district. Agence France-Presse reported that two police officers were killed in clashes with protesters, citing government spokesman Lambert Mende. The…

Nigerian Police Rescue Oil Workers Seized Near Southern Oil Hub

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LAGOS, Capital Markets in Africa: Nigerian police rescued 14 oil workers kidnapped near the southern oil hub of Port Harcourt following a gun fight with the abductors, an official said. “The oil workers were rescued unhurt” after the gunmen abandoned them and fled during the gun battle with the police, Nnamdi Omoni, a police spokesman, said by phone from Port Harcourt on Monday. The 14 employees of Nestoil Ltd., a Nigerian company, were seized on Sept….

Currencies to Politics Bedevil African Central Banks’ Task

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LAGOS, Capital Markets in Africa: Africa’s major economies are taking diverging approaches to monetary policy as they struggle to cope with volatile currencies, slumping growth and political meddling. Ghana, Kenya, Nigeria and South Africa are set to announce interest-rate decisions this week in an environment marked by accelerating price growth and an economic slump in some countries and attempts by politicians to prescribe policy in others. While Nigeria’s central bank will probably take more aggressive action, South Africa,…

South Africa’s corruption watchdog interviews finance ministers in Zuma, Gupta inquiry -paper

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JOHANNESBURG, Capital Markets in Africa: South Africa’s anti-corruption watchdog has interviewed Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas as part of an investigation into whether President Jacob Zuma was influenced by the wealthy Gupta family in making government appointments, the Sunday Times newspaper reported. The paper said Public Protector Thuli Madonsela had written to Zuma informing him of her investigation into whether he breached the executive code of conduct. Madonsela has already interviewed…

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