Namibia Scraps Plan to Force White-Owned Businesses to Sell 25% Stake to Blacks

Namibia Scraps Plan to Force White-Owned Businesses to Sell 25% Stake to Blacks Namibia has scrapped a clause in its economic empowerment framework that would have forced white businesses to sell a 25% stake to previously disadvantaged blacks, President Hage Geingob said on Wednesday. Making the announcement during his state of the nation address, Geingob said a revised…

Foreign Investors Still Not Going to Post-Mugabe Zimbabwe

Investors play the waiting game in post-Mugabe Zimbabwe Tawanda Karombo  With a new government in place in Zimbabwe, foreign investors remain in a wait-and-see mode as international institutions call for reforms. Tawanda Karombo reports. Foreign Direct Investment (FDI) prospects in Zimbabwe may have been enhanced by the exit of Robert Mugabe as leader of the country,…

Zimbabwe to Mines, Farmers: ‘Clear Electricity Bill Arrears in 6 Months or Risk Cut Off and Litigation’

Zimbabwe to Mines, Farmers: ‘Clear Electricity Bill Arrears in 6 Months or Risk Cut Off and Litigation’ Zimbabwe‘s state-owned electricity distributor has given businesses, including mines and large-scale farms, six months to clear their bills or risk being cut off and face litigation, the company said on Monday. The Zimbabwe Electricity Transmission and Distribution Company (ZETDS) is owed more than $1-billion…

South Africa Escaped Recession in 2017. So What? It’s Still in a Pickle.

  Encouraging data give weight to Finance Minister Nhlanhla Nene’s statements on South Africa’s growth forecasts Economic growth accelerated for the first time in four years in 2017, with continued strong recovery in agriculture, giving weight to Finance Minister Nhlanhla Nene’s statements that growth forecasts will probably be revised upwards. Revisions to historical data in…

Bloomberg’s Guide to Key Africa Markets in 2018: From Angola to Zimbabwe

  Bloomberg’s Guide to Key Africa Markets in 2018: From Angola to Zimbabwe African bonds outperformed emerging-market average this year Key challenges lie ahead, with IMF warning of credit risks Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover…

ANC Leadership Race: Cyril Ramaphosa Wins; Jacob Zuma in Trouble!

  ANC Leadership Race: Cyril Ramaphosa Wins; Jacob Zuma in Trouble! Cyril Ramaphosa was elected leader of South Africa’s ruling African National Congress on Monday, threatening President Jacob Zuma’s grip on power after the most divisive vote in the party’s history. Mr Ramaphosa, the deputy president, defeated Nkosazana Dlamini-Zuma, Mr Zuma’s former wife, whom the…

Pay-Back for Zimbabwe’s Military in First Post-Mugabe Cabinet

  Pay-Back for Zimbabwe’s Military in First Post-Mugabe Cabinet When Zimbabwe’s army incarcerated Robert Mugabe in his house last week, presumably to keep him safe from his enemies after people thought it was a coup, many around the world immediately noticed the irony. The same apparatus of the government that helped prop up Mugabe’s dictatorship…

The Crocodile and an Economic Wasteland: What Mnangagwa Must Do to Revive Zimbabwe

    The Crocodile and an Economic Wasteland: What Mnangagwa Must Do to Revive Zimbabwe Emmerson Mnangagwa NAIROBI – When Emmerson Mnangagwa takes over from Robert Mugabe as Zimbabwe’s President on Friday, he’ll inherit an economic wasteland that will take years and a complete reversal of some of the government’s signature policies to set right. Among Mnangagwa’s key challenges will be…