Features | - Part 191

Zuma Faces Fresh Attacks From South African Opposition Parties

JOHANNESBURG (Capital Markets in Africa) – South African opposition parties resumed their offensive against President Jacob Zuma after failing to remove him through a motion of no confidence in parliament, urging the nation’s top court to force the legislature to discipline him for failing to uphold the constitution. The Constitutional Court on Tuesday began hearing a lawsuit brought by the main opposition parties to order the parliamentary speaker to convene a committee to investigate whether Zuma’s refusal…

Bell Pottinger Booted From PR Body Over South Africa Conduct

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Bell Pottinger LLP, the public-relations firm started by an adviser to Margaret Thatcher, has been thrown out of the U.K. industry body in an unprecedented ruling after an investigation found its work on behalf of the Gupta family in South Africa had stoked racial tensions. Bell Pottinger ran a potentially divisive social-media campaign aimed at highlighting economic inequality in South Africa along racial grounds and targeted wealthy white individuals…

Zuma Has Broken Businesses’ Trust, South African Lobby Says

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – President Jacob Zuma and his ruling African National Congress have broken the business community’s trust after he recalled a finance minister from an investment roadshow in the U.K. and then fired him in a cabinet shuffle, the head of Business Leadership South Africa said. The exit of Pravin Gordhan as finance minister prompted two of the three main credit ratings agencies to cut the assessment on South Africa’s foreign-currency debt to junk, thwarting…

Ramaphosa Targeted as S. Africa’s Succession Race Turns Ugly

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The race to lead South Africa’s ruling party is turning increasingly nasty. Allegations that Deputy President Cyril Ramaphosa, a front-runner for the post, had extra-marital affairs with at least eight women and paid expenses for some of them were splashed across the front page of the Sunday Independent, which cited Ramaphosa’s private emails to back up the story. It didn’t say how it obtained them. Ramaphosa called the report part…

Nigeria Immigration Service bans cash payment at passport offices

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Nigeria Immigration Service (NIS), on Monday, 28 August 2017, announced the ban of cash payment for processing of Nigerian passports in all passport offices across the country. The ban is part of the efforts by NIS to eliminate perceived corruption associated with processing of Nigerian passports. This directive was made following an investigative report revealing that immigration officials engage ‘agents’ also known as touts to request for more…

Somalia Confirms Capture, Deportation of Ethiopian Rebel Leader

Posted on by The Editorial Team

MOGADISHU (Capital Markets in Africa) – Somali agents captured a senior Ethiopian rebel leader and handed him over to the authorities of his home country, the head of Somali intelligence said. Abdikarim Sheikh Muse, a member of the Ogaden National Liberation Front’s executive committee, was detained in the central town of Adado, 500 kilometres (311 miles) north of the Somali capital, Mogadishu, on Aug. 25, National Intelligence & Security Agency Director Abdullahi Mohamed Ali told…

Cash-Burning Activist Sets West Africa’s Social Media Alight

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – A West African activist who burned a bank note to demonstrate his hatred of the regional CFA franc has reignited a decades-old debate and prompted thousands of supporters in former French colonies to turn to social media and demand that the currency be scrapped. The French-Beninese national, Kemi Seba, appeared in court in Senegal in connection with a video that showed him setting a bank note of 5,000 CFA francs…

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