Features

DAR ES SALAM (Capital Markets in Africa) — Tanzanian President John Magufuli, who drew widespread criticism for his denialism of the coronavirus pandemic, has died only five months after he won a second term in a disputed election. He was 61. “We have lost our courageous leader, President John Magufuli, who has died from a heart illness,” Vice President Samia Suluhu Hassan said on state television on Wednesday. Magufuli fell ill on March 14 and had been…

LAGOS (Capital Markets in Africa) — A dozen years into its fight with the Islamic insurgent group Boko Haram, Nigeria is getting some new weapons: a pair of Wing Loong II drones from China. The deal is one of a growing number of sales by state-owned Aviation Industry Corp. of China (AVIC), which has exported scores of the aircraft. The United Arab Emirates has used AVIC drones in Libya’s civil war, Egypt has attacked rebels…

LAGOS (Capital Markets in Africa) – Policymakers in China are bringing technology firms into alignment with national priorities to ensure that policy intent is met, fostering innovation that serves the real economy and improves wellbeing, whilst preventing financial risks though prudent regulation. The implication is that central government has made a value judgement: only innovation that serves the real economy, and doesn’t compromise financial stability, will be provided pathways to flourish. However, given a choice…

LAGOS (Capital Markets in Africa) – The onset of Covid-19 had organisations across the globe scrambling to find solutions to the sudden and widespread shift to remote work. More than a year later, it is clear that the pandemic has permanently influenced perceptions and the employee experience of workplace culture, says Reynhardt Uys, Chief Experience Officer, Immersion Group, a global team of experience design experts. According to Uys, organisations are looking for long-term solutions to…

LAGOS (Capital Markets in Africa) — Some chief executive officers are so eager for their employees to get vaccinated against Covid-19 that they’re granting workers time off or cash incentives to get shots. In the U.S., retailer Lidl is giving its staff $200, while Aldi, Dollar General Corp.and Trader Joe’s Co. are offering extra hours of pay. Online grocery delivery firm Instacart Inc. is providing a $25 stipend for workers and contractors. Yogurt makers Chobani LLC and Danone SA are offering as much as six hours of…

LAGOS (Capital Markets in Africa) — The Senate Banking Committee is questioning whether Goldman Sachs Group Inc. paid dividends at the expense of lending to businesses and households during the pandemic as lawmakers take a broad look at the support big banks offered clients to get through the economic slump. Committee Chairman Sherrod Brown and fellow Democrat Elizabeth Warren sent Goldman Chief Executive Officer David Solomon a letter late last week, asking how its banking…

LAGOS(Capital Markets in Africa) — A West African court ordered Cape Verde’s government to free Alex Saab, a Colombian businessman close to Venezuelan President Nicolas Maduro, and halt plans to have him extradited to the U.S. The Economic Community of West African States Court of Justice found the authorities on the Atlantic Ocean island nation carried out Saab’s arrest before a so-called Red Notice had been issued by Interpol. “We found his arrest by the…