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preliminary probe

DRC: Over 130 civilians killed by M23 rebels last month says UN

M23 rebels last month massacred at least 131 civilians in eastern DRC and committed more than two dozen rapes, according to a preliminary probe ... into the killings, the UN mission in the country said.

"core risk"

South Africa: African Bank basks in profit jump and IPO dream, warns of power woes

South Africa’s African Bank, which was on the verge of bankruptcy, is revelling in a 38% jump in annual profit on the back of 87% growth in ... retail loaning after doling out R14bn ($800m) in a year.

Kenya Airways planes at Jomo Kenyatta International Airport, near Nairobi, Kenya, in November 2019.

investment

Kenya: Only best-performing state corporations will be privatised, Treasury boss says

The government of Kenya will only sell financially stable parastatals through the stock market to boost activities at the Nairobi bourse, which ... has been declining for months now on foreign investors’ flights.

Economy booster

Ethiopia: Long way to go before the country can build securities exchange from scratch

Earlier this year, Ethiopia launched Ethiopia Investment Holdings (EIH), a new sovereign wealth fund, in a bid to spur foreign direct investment ... under a wider programme of privatisation and financial liberalisation. EIH has since announced its intention to establish the Ethiopian Securities Exchange (ESX).

MISSING MONEY

Mozambique ‘hidden debt’ scandal: Ex-president’s son and 10 officials found guilty

Ndambi Guebuza, the son of a former president, was sentenced to prison on 7 December alongside 10 public officials who were also implicated in ... the “hidden debt” corruption scandal, which plunged Mozambique into a serious financial crisis.

WAKE-UP CALL

‘Russia using food and energy as weapon against Europe and Africa,’ says vice-chancellor Habeck

German vice-chancellor Robert Habeck has accused Russia of weaponising food and energy against Ukraine and Europe, as well as Africa, prompting ... a need for solutions.

ready to deploy

Africa – US: Investment at centre of development agenda ahead of Africa Leaders Summit

For investors across industries, each of Africa’s 54 countries represents a place of opportunity and challenge. With growing consumer populations, ... increasing urbanisation, and a wealth of untapped natural resources and development capacity, there is significant scope for investment.

South Africa: African Bank basks in profit jump and IPO dream, warns of power woes

investment

Kenya: Only best-performing state corporations will be privatised, Treasury boss says

Economy booster

Ethiopia: Long way to go before the country can build securities exchange from scratch

"core risk"

South Africa: African Bank basks in profit jump and IPO dream, warns of power woes

investment

Kenya: Only best-performing state corporations will be privatised, Treasury boss says

Economy booster

Ethiopia: Long way to go before the country can build securities exchange from scratch

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time is rife

Kenya: Raila and Ruto allies push for return of powerful opposition leader role

Parliamentarians allied to Raila Odinga’s Azimio la Umoja One Kenya Coalition are seeking constitutional amendments to re-introduce the position ... of official opposition leader. It had been abolished following the passing of the 2010 Constitution.

revolution

Nigeria 2023: Peter Obi continues momentum but Labour Party crisis headache remains

The crisis in Nigeria's Labour Party has spread to more states two months before the 2023 election but party members say the bickering will not ... affect the chances of its presidential candidate, Peter Obi, whose popularity had surprised even his critics.

Mineral Arts

DRC: Rawbank considers lending to artisanal miners, denies gold involvement

Rawbank, the largest domestic bank in the Democratic Republic of Congo, is considering lending to artisanal and small-scale miners (ASMs), CEO ... Mustafa Rawji tells The Africa Report.

TOUGH CHOICES

DRC-Rwanda: M23 rebels bow to pressure, agree to leave occupied territories

M23 rebels have announced that they are ready to disengage and withdraw territories they have occupied in eastern DRC after almost a year which ... has led to simmering tension between Rwanda president Paul Kagame and his DRC counterpart Félix Tshiskedi.

Going to Slums

Kenya: APA eyes micro insurance expansion, stricter motor underwriting, says CEO

Nairobi-based APA Insurance is seeking to expand its business to micro insurance, which targets low-income people and has been largely under-penetrated ... in Kenya where two-thirds of its nearly 55 million population is mired in poverty.

Deputy Director General for Management and Reform Amy Pope poses in Geneva, Switzerland, the headquarters of the International Organization for Migration

Changing the game

Amy Pope, US candidate for top IOM job, vows to prioritise Africa

Amy Pope, the US candidate in the running to lead the International Organisation for Migration (IOM), is making African representation and climate ... change cornerstones of her campaign to replace its current leader.

Coupons Clipped

Ghana: Bondholders may push against Ofori-Atta’s debt-exchange plan

The lack of consultation is clouding prospects that Ghana can persuade domestic bondholders to accept a proposed restructuring as the government ... seeks IMF help to repair excessive borrowing.

basic services

Ethiopia – Tigray: Mekele back on national power grid, says operator

The capital of Ethiopia's Tigray region has been reconnected to the national power grid after more than a year of cuts caused by war, the electricity ... operator said on Tuesday.

Conflicting approaches

DRC: Joseph Kabila and Moïse Katumbi hesitate on which strategy to adopt

After coming together a few months ago, the PPRD and "Ensemble pour la République" had each planned to meet separately to determine their course ... of action ahead of the 2023 presidential election. Félix Tshisekedi hopes to be re-elected in this vote.

apocalyptic terms

Pipe Dreams: What the West got wrong on Uganda’s oil plans

In the aftermath of COP27, a $10bn oil extraction project in Northern-Western Uganda is fanning the flames of environmental activism across the ... world. Rather than an opportunity for Uganda to accelerate its development, the project is described in apocalyptic terms by international NGOs and environmental activists.

Darija, Darija

Morocco: ElGrandeToto, 7liwa, Naar… Rap in Darija goes international

A new wave of Moroccan rappers are gaining international influence with their creative, inclusive lyrics that are crossing borders and breaking ... through the language barrier.

TIT FOR TAT

DRC-Rwanda: Tshisekedi and Kagame’s war of words heats up

Paul Kagame had accused Félix Tshisekedi of taking advantage of the crisis caused by the M23 rebellion to postpone DRC’s presidential election. ... The Congolese leader has accused him, in return, of being a “war-monger”.

conservation

EACOP: An endangered Indian Ocean, oil’s way out of Africa

Conservationists in Tanzania's Tanga fear that the construction of the new port in Chongoleani will reduce the habitat of marine biodiversity, ... amongst which are some of the most ancient fish species in the world and Africa’s healthiest mangroves and coral reefs.

Article 6/6 of "EACOP: A boon or curse for East Africa?"

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