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Western Monitors’ Return Kindles Hope for Free Zimbabwe Vote

HARARE (Capital Markets in Africa) – An influx of Western observers is giving Zimbabweans some hope that this month’s elections won’t be a repeat of the tainted contests held during former President Robert Mugabe’s 37-year rule. While Zimbabwe’s past three elections were marred by allegations of rigging, violence and intimidation, new President Emmerson Mnangagwa has welcomed the return of monitors from Western nations whose governments were more critical of Mugabe than teams from African countries. He’s vowed that the…

Squabbling Within Zimbabwe’s Opposition May Weaken Election Bid

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HARARE (Capital Markets in Africa) – Bickering within Zimbabwe’s opposition alliance is weakening its chances of ousting the ruling party in this month’s elections, the southern African nation’s first since Robert Mugabe ended his 37-year rule in November. The High Court is hearing a case brought by Thokozani Khupe, former vice president of the main opposition group, the Movement for Democratic Change, that she and not its president Nelson Chamisa should campaign under its name. In four parliamentary races, members…

Zimbabwe Massacre `Unresolved National Question,’ Biti Says

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HARARE (Capital Markets in Africa) – Zimbabwe needs to establish a system of national reconciliation to heal the wounds left by the 1980s massacre that killed 20,000 people and other violent incidents since independence if it’s to unify the southern African nation, prominent opposition leader Tendai Biti said. No one has been held to account for the massacre of members of the Ndebele minority by a North Korean-trained Zimbabwean military unit in a program known in the…

Zimbabwe’s Ousted Vice President Flees After Death Threats

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HARARE (Capital Markets in Africa) – Former Zimbabwean Vice President Emmerson Mnangagwa fled the southern African nation because of “incessant threats” against him and his family two days after he was fired by President Robert Mugabe. Mnangagwa, 75, said Wednesday in a statement that he never planned to harm Mugabe, who he’s been supporting for more than four decades, and pledged to work to establish a “new and progressive leadership” in the ruling Zimbabwe African National Union-Patriotic Front….

Zimbabwe says to slash budget deficit despite looming elections

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HARARE (Capital Markets in Africa) – Zimbabwe plans to cut its budget deficit by half next year to 4 percent of GDP, the national Treasury said, an ambitious goal at a time when the country is expected to hold a presidential vote that veteran President Robert Mugabe is set to contest. The southern African country has over the last four years failed to cut its deficit despite promises to do so, mainly due to high…

Zimbabwe Dollar Dearth Causes Shortages, Return of Inflation

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HARARE (Capital Markets in Africa) – Zimbabwe’s money shortage has seen card and mobile-money payments eclipse cash sales at the nation’s retailers, throttling suppliers’ stock of hard currency needed to put goods on shelves and forcing up food prices. Cash transactions have shrunk to about 2 percent of daily takings across the 33-store Spar Zimbabwe chain, from 60 percent a year ago, Managing Director Terence Yeatman said. Consumer prices as measured by the statistics agency rose 0.1…

How African Equities and Currencies feared in 2016

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) -African equity markets settled in the South Pole 2016 was a difficult year for African markets, each in varying degrees. Most of the African equity index ended in negative zone at the end of 2016, with six positive growths and twelve negative returns on a local currency basis. The performance was more disheartening on a US-dollar adjusted basis, with just four equity markets produced a positive return and average return across markets…

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