Features | - Part 167

Zimbabwe Leader Sets 90-Day Deadline to Return Stolen Cash

HARARE (Capital Markets in Africa) – Zimbabwean President Emmerson Mnangagwa ordered anyone who had illegally moved cash and assets out of the southern African nation to return them within three months or face arrest. “Huge sums of money and other assets” have been taken by “certain individuals and corporates,” Mnangagwa said in a statement Tuesday without naming them. He urged those responsible for “a very serious economic crime against the people of Zimbabwe” to act before the end…

Kenya President Vows Unity as He Begins Disputed Second Term

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenyan President Uhuru Kenyatta vowed to unite his country as he was sworn in for a second term amid opposition protests, capping months of electoral uncertainty that unnerved investors in East Africa’s biggest economy. Opposition leader Raila Odinga, who has vowed not to recognize Kenyatta’s victory in an October election rerun, boycotted Tuesday’s ceremony in the capital, Nairobi and said he’ll be sworn-in as Kenya’s leader by supporters next month. Police fired…

Mercedes Plans More Drone Deliveries After 100 Perfect Flights

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Mercedes-Benz, conducting the biggest test using drones to ship everyday items like ground coffee and cellphones, said the mini aircraft completed 100 drop-offs to strategically placed vans in Zurich with a perfect safety record and more deliveries are planned for next year. About 50 individual customers placed orders with Swiss online shopping platform Siroop, choosing “airmail deals” from selected items from retailer Black & Blaze Coffee Roasting Co. for same-day delivery. The drones…

Namibian Ruling Party Elects Geingob as Leader Before 2019 Vote

Posted on by The Editorial Team

WINDHOEK (Capital Markets in Africa) – Namibian President Hage Geingob was elected leader of the southwestern African nation’s ruling party, positioning him to seek a second term in 2019 elections. The South West African People’s Organization also elected Deputy Prime Minister Netumbo Nandi-Ndaitwah as vice president at its congress that ended Monday, the state-owned Namibia Broadcasting Corp. said on Twitter. The Swapo party has been in power since 1990 when the country, which also borders Angola, Zambia and…

Blockchain Secondary Market Planned Amid Explosion of Interest

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – A new way for accredited investors to put money into blockchain startups is opening up. A firm called BnkToTheFuture plans to open a market in the second quarter that will let investors trade equity stakes in companies involved with the blockchain, the transaction-tracking technology that underpins digital currencies like bitcoin. BnkToTheFuture will use a blockchain ledger to keep record of those investments for clients. Its impending market will join a…

Macron Tells African Crowd He Aims to Leave Colonial Past Behind

Posted on by The Editorial Team

OUAGADOUGOU (Capital Markets in Africa) – French President Emmanuel Macron used a speech to African students to put economic development, culture and education on the same level of importance as the terrorism and migration challenges that dominated his predecessors’ relations with the continent. In a speech of almost two hours to a boisterous crowd of students at Ouagadougou University in Burkina Faso, the 39-year-old president laid out his African policy, insisting that France’s colonial past should no…

Dispute at Congo Cobalt Mine Heads to Court, Halts Supply

Posted on by The Editorial Team

DR CONGO (Capital Markets in Africa) – An attempt by Congo’s Gecamines to profit from the boom in battery metals has backfired, leaving the state-owned miner facing two international court actions and halting cobalt production at a key mine. Gecamines blocked its 16-year partner GTL’s access to the cobalt site in the south eastern Congolese town of Lubumbashi in March to make way for a new investor, as prices for the metal soared. The attempt to switch…

« 1 … 165 166 167 168 169 … 259 »