Features | - Part 215

IMF says plans to meet new Ghana government over aid programme

ACCRA (Capital Markets in Africa) – The International Monetary Fund (IMF) plans to visit Ghana to hear the new government’s plans for implementing the country’s $918 million aid deal, the Fund said on Thursday. President Nana Akufo-Addo was sworn in on Saturday pledging to cut taxes, spend on development and boost annual growth to double digits as he seeks to return Ghana to its place as one of Africa’s most dynamic economies. He also inherits a…

Hate Speech in Social Media Targeted by Kenya Before August Vote

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s communication authority said it increased monitoring of social media in a bid to combat hate speech before the East African nation holds presidential elections in August. Authorities have spent 1.1 billion shillings ($10.6 million) since 2015 to monitor broadcasters and last year paid an additional 1 billion to examine social-media output, Chairman Ngene Gituku told reporters Thursday in the capital, Nairobi. “We are working with other government agencies…

Ugandan Leader Seen Preparing Successor as Son Named Adviser

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KAMPALA (Capital Markets in Africa) – Ugandan President Yoweri Museveni’s appointment of his son as a senior adviser may be a move to stem dissent in the governing party and prepare a successor to his 30-year rule. Museveni, who secured a fifth term in a 2016 vote, named Muhoozi Kainerugaba, the 42-year-old head of an elite military group, as his adviser for special operations. The chief of Uganda’s defense forces was also replaced, army spokesman Paddy Ankunda…

Ghana President Picks Investment Banker as Finance Minister

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana appointed investment banker Ken Ofori-Atta as finance minister following elections last month that saw the return to power of the New Patriotic Party. The announcement was made by President Nana Akufo-Addo on Tuesday in comments on Citi FM radio. Ofori-Atta, 57, held the post of executive chairman of the Accra-based investment bank Databank Financial Services Ltd. for 12 years until 2012 and served as director of fundraising during the NPP’s campaign for the…

West African Leaders Meet on Gambia Standoff as Deadline Looms

Posted on by The Editorial Team

BANJUL (Capital Markets in Africa) – The Economic Community of West African States meets in the Nigerian capital Monday to discuss how to get Gambian President Yahya Jammeh to step down next week without the bloc having to resort to force. Nigerian President Muhammadu Buhari hosts his Senegalese and Liberian counterparts in Abuja on Monday, according to a statement e-mailed by the Nigerian presidency. Sierra Leone Vice President Victor Bockarie Foh and former Ghanaian President John Mahama will also attend, it said….

Nigerian Militants Threaten to Widen Attacks on Oil Industry

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The Niger Delta Avengers, a militant group whose attacks on infrastructure curbed Nigerian oil output last year, threatened to widen its campaign after becoming frustrated with government talks. “The Nigerian state is not ready for any form of dialogue and negotiation with our people to addressing the issues sustaining the unending sufferings and deprivation,” the Avengers said in a Jan. 6 posting on its website. The militants said the Jan. 3 award by…

Shell Pipeline Fire Threatens to Deepen Nigerian Oil Output Drop

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Royal Dutch Shell Plc shut the Trans Niger oil pipeline after a fire, threatening to worsen a drop in Nigerian output due to unplanned disruptions. The line can transport about 180,000 barrels a day to the Bonny Export Terminal in the Niger Delta was halted Tuesday due to a blaze at Kpor in Ogoniland, Precious Okolobo, a company spokesman in Lagos, said Thursday by phone. Shell declined to comment on the…

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