Features | - Part 200

South Africa Business confidence down sharply in the second quarter

JOHANNESBURG (Capital Markets in Africa) – After hovering in net negative terrain between 32 and 42 index points over the past year, the RMB/BER Business Confidence Index (BCI) collapsed by 11 points to 29 in the second quarter. This means seven out of every 10 respondents are downbeat about prevailing business conditions. We last saw such despondency during the 2009 recession. Striking too is the fact that each of the five sectors covered in the…

Tanzanian Government Accuses Acacia of Mining Gold Illegally

Posted on by The Editorial Team

DAR ES SALAAM (Capital Markets in Africa) – Tanzania’s government accused Acacia Mining Plc of operating illegally in the East African country and said mining companies have been evading taxes. Acacia’s shares slumped. An audit ordered by President John Magufuli in March found that Acacia had been conducting business in Tanzania “contrary to the law,” Nehemiah Osoro, chairman of a committee of academics, lawyers and economists that conducted the probe, said at a briefing Tuesday in the…

With May Under Pressure, Who Could Be New Conservative Leader?

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – A shocking U.K. election result that’s thrown the Conservative Party into turmoil leaves Theresa May’s position looking precarious. If history is any indication, the Tories will waste little time in seeking a new leader. So who can lay claim to the Tory crown? Brexit talks are due to start in 10 days’ time, with the possibility of at least one new face on the other side of the negotiating…

Comey Leaves Trump Under a Crippling `Cloud’ of Investigations

Posted on by The Editorial Team

WASHINGTON (Capital Markets in Africa) – Donald Trump’s White House had feared the worst from former FBI Director James Comey’s testimony – the revelation of what one close associate called a “salacious bomb” that would send the investigations off into entirely new, and entirely unpredictable, directions. It never came, as Comey mostly hewed to previously reported details. But calmly, carefully, Comey actually might have done something just as dangerous. Ex-FBI chief James Comey testifies to Congress. Here’s what…

Britain Votes as Narrowing Polls Indicate These Five Scenarios

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Polls are open and voting is underway in a U.K. election dominated by Brexit, austerity and in the closing phases, security. The first indications of the result will come at 10 p.m. London time, when broadcasters will release an exit poll. While such surveys have generally been accurate in the past, they are not precise and the final result will not be known until Friday morning. Prime Minister Theresa May called the snap election to…

Kenyan Opposition Leader May Consider Tax Cuts to Woo Investors

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenyan opposition leader Raila Odinga said he would consider tax cuts to woo foreign investors and measures to boost manufacturing to drive export-led growth if he wins the country’s presidential elections in August. The National Super Alliance also plans measures to assist small-scale businesses and farmers, and a crackdown on corruption to boost revenue collection if it comes to power, Odinga said in an interview Wednesday in the capital, Nairobi. The…

Kenyan Election Body Denies Awarding Deal to Blocked Company

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s electoral commission said it’s yet to decide which company will print ballot papers for elections being held in two months, after a local newspaper said the deal had been handed to a Dubai-based firm whose contract has been blocked twice. “We are still working on it,” Andrew Limo, spokesman for the Independent Electoral & Boundaries Commission, said by phone on Wednesday from the capital, Nairobi. “Communication will be…

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