Features

Key Congo Opposition Leaders Join Forces for Presidency Bid

Posted on by The Editorial Team
Key Congo Opposition Leaders Join Forces for Presidency Bid

KINSHASA (Capital Markets in Africa) – Two of the Democratic Republic of Congo’s most popular opposition politicians joined forces to compete in next month’s presidential election. The joint ticket splits the opposition vote and raises the likelihood that President Joseph Kabila’s chosen successor, Emmanuel Ramazani Shadary, will win the Dec. 23 vote to lead the world’s largest cobalt producer. Felix Tshisekedi, the head of Congo’s biggest opposition party, will run for president backed by Vital Kamerhe, who came…

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State Funds Seen at Risk in Congo Presidential Vote Campaign

Posted on by The Editorial Team
State Funds Seen at Risk in Congo Presidential Vote Campaign

KINSHASA (Capital Markets in Africa) – Democratic Republic of Congo presidential-hopeful Emmanuel Ramazani Shadary’s appointments to his campaign-finance team raises the risk state funds will be used to finance his election bid, two anti-graft groups said. Shadary, the ruling-coalition candidate chosen by President Joseph Kabila to succeed him, is seeking to become the leader of the world’s biggest cobalt producer in a vote scheduled for Dec. 23. The 57-year-old former interior minister has been sanctioned by the European…

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South Africa Report Urges Eskom, Transnet Criminal Probes

Posted on by The Editorial Team
South Africa Report Urges Eskom, Transnet Criminal Probes

JOHANNESBURG (Capital Markets in Africa) – A forensic report into South Africa’s state-owned electricity utility and ports and rail operator found some executives and board members failed to act in the companies’ best interests and recommended criminal investigations against them. The findings are contained in a report by Fundudzi Forensic Services, which the National Treasury contracted to investigate the following: The acquisition of locomotives at Transnet SOC Ltd. The appointment of U.S. consultancy McKinsey &…

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Cigarette Makers Altria, BAT Drop as FDA Considers Menthol Ban

Posted on by The Editorial Team
Cigarette Makers Altria, BAT Drop as FDA Considers Menthol Ban

LAGOS (Capital Markets in Africa) – Altria Group Inc., the maker of Marlboro, fell on news of a possible ban on menthol cigarettes in the U.S., which account for about 20 percent on the company’s profit. A senior U.S. Food and Drug Administration official said last week that the agency is looking at restricting menthol in traditional cigarettes. Doing so would be a step toward eliminating or tightly limiting use of the popular cigarette flavor,…

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Former Exxon Manager Leads Congo Opposition Presidency Bid

Posted on by The Editorial Team
Former Exxon Manager Leads Congo Opposition Presidency Bid

KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo’s main opposition leaders chose Martin Fayulu as their candidate for next month’s presidential election. The opposition had been expected to select from two better-known politicians: Felix Tshisekedi, head of the biggest opposition party, or Vital Kamerhe, who finished third in the last vote in 2011. Fayulu will face President Joseph Kabila’s anointed successor, Emmanuel Ramazani Shadary, in the Dec. 23 race to lead the world’s largest cobalt…

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Africa’s Biggest Democracy Fights Enduring Problem: Rigging

Posted on by The Editorial Team
Africa’s Biggest Democracy Fights Enduring Problem: Rigging

LAGOS (Capital Markets in Africa) – As Nigeria heads toward general elections in February, it’s in a race to stamp out the bane of the voting system in Africa’s biggest democracy: rigging. Ballot snatching and buying, underage and multiple voting, falsifying results and the suppression of turnout in opposition areas are among the abuses the National Assembly is trying to tackle with new legislation. The bill, passed last month, emerged from talks among the presidency,…

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Crypto 2.0 May Be Digital Cash You Can Actually Use to Buy Stuff

Posted on by The Editorial Team
Crypto 2.0 May Be Digital Cash You Can Actually Use to Buy Stuff

LAGOS (Capital Markets in Africa) – The London clubhouse built for activists who helped redesign Britain’s electoral system nearly two centuries ago offered a fitting setting for the crowd of technology entrepreneurs hoping to reinvent money. Those gathered in the Reform Club near Buckingham Palace late last month were just a small part of a fast-growing cohort of idealists and profit-seekers working feverishly on a new breed of digital currencies. Call them crypto 2.0. These coins should, as…

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