Features

LONDON (Capital Markets in Africa) – Britain’s vote to leave the European Union has already come at a cost regardless of where Brexit goes from here. Some of the damage is tangible, such as jobs, investment and capital; some of it less so, like international clout and talent.   Prime Minister Theresa May is aiming to renegotiate the most contentious part of her separation deal with the European Union after it was rejected by Parliament. Officials in Brussels have already warned they won’t even consider her demands….

DAR ES SALAAM (Capital Markets in Africa) – Tanzanian legislators adopted controversial amendments to a new law that rights groups and the opposition warn will criminalize dissent and give the registrar of political parties unmerited powers to supervise the activities of political parties. “Parliament has passed the amendments to the Political Parties Act that will bring more openness to political parties and strengthen the country’s democracy,” the government’s spokesman, Hassan Abbasi, said on Twitter. The…

JOHANNESBURG (Capital Markets in Africa) – Just when South Africa’s ruling party thought it was on the way to rebuilding its image before this year’s election, along came Angelo Agrizzi. A former executive at services company Bosasa, Agrizzi has captivated the nation with televised testimony at a judicial panel probing graft during Jacob Zuma’s presidency about how the firm won state contracts worth billions of rand by bribing top African National Congress officials. He also said the…

DAKAR (Capital Markets in Africa)  – Senegal’s National Assembly approved a new oil code as a string of major discoveries off its coast are expected to make the West African nation an oil exporter in coming years. The code increases the stake of state-run oil company Petrosen to as much 30 percent in new projects, Oil Ministry spokesman Barthelemy Sene said by text message in response to questions Monday. It will apply fixed percentages for…

LAGOS (Capital Markets in Africa)  – Nigeria’s main opposition figure, Atiku Abubakar, said President Muhammadu Buhari breached the constitution by suspending the nation’s top judge just weeks before a general election in Africa’s biggest oil producer. The president’s move on Jan. 25 to temporarily replace Chief Justice Walter Onnoghen, citing allegations of a false asset declaration, has triggered a political crisis because the Supreme Court would probably have to rule on any challenges to the fairness of the vote….