Politics: Latest News
Dana Sanchez, 11:28 am
Newly elected Tshwane Mayor Solly Msimanga went to Taiwan for trade opportunities. The ruling ANC is furious, crying treason, conspiracy against BRICS and disrespect for the One China policy. The mayor said he considered SA-China ties but the need to create business opportunities should transcend party politics. Msimanga was elected mayor after the Democratic Alliance’s victory in Tshwane in the Aug. 3 municipal election. His office spent the first 100 days undoing “financial disaster” left behind by the ANC.
Dana Sanchez, 10:40 am
Women must get a husband’s permission to obtain identity cards in at least two African countries. However there are many African countries where women have unequal access to property, land and tenure rights. This hinders women from contributing to their countries’ economic growth, the African Development Bank says. The finance institution was established in 1963 to contribute to African economic development and social progress. It provides financing to African governments and private companies. So how much money are we talking about? In 2015 alone, AfDB disbursed $8.8 billion US.
Staff, 8:50 am
Longtime Gambian ruler Yahya Jammeh took power in a coup 22 years ago. He lost the country’s Dec. 1 election, and initially conceded defeat, congratulating opposition leader Adama Barrow for his “clear victory.”Jammeh said, “I will help him work towards the transition. Then Jammeh changed his mind. The 15-country Economic Community of West African States (ECOWAS) is threatening military intervention with troops led by Senegal.
Kurt Davis Jr., 4:29 pm AFKI Original
A sense of what Zimbabwe can expect post-Mugabe. Partnership in the fight against terror for Tunisia. Better strategies combating poverty and HIV in Swaziland. These are just a few of the wishes that a U.S. investment banker visualizes for African countries as the old year winds down and 2016 gives way to 2017.
It’s Back: South Africa Invites Foreign Financing ‘Solutions’ On Nuclear Fleet, Cites Koeberg SuccessBy Dana Sanchez, 12:46 pm
Nuclear fleet South Africa – it’s back. After many delays, SA has invited foreign financing solutions, formally jumpstarting its stalled nuclear build program. It put out a request for information from potential foreign contractors. Despite public protests, the government wants to build a new fleet of nuclear power stations. A RFP was delayed following reports that Russia had already secured the deal. France, U.S., China and South Korea are interested too. One thing SA has on its side is experience.
Kurt Davis Jr., 10:11 am AFKI Original
It is the end of the year, a time when companies close the books and forecast 2017. As African governments roll out 2017 budgets or budget adjustments, it’s an ideal time to take an early look at the two gigantic problem countries — sub-Saharan Africa’s second- and third-largest economies. A sustained low oil price could all but doom these African budgets and burden their economies. Will debt markets be willing to service Nigeria? President dos Santos said he is prepared to step down — not bad timing. Angola may be the giant taking the hardest punches.
Dana Sanchez, 1:29 pm
Steinmetz’s attorney says his client is determined to prove his innocence. He says Guinean President Alpha Conde is trying to cover his own corruption by confiscating Steinmetz’s mining rights. The investigation is being conducted in the U.S., Switzerland and Guinea, part of a global push led by the OECD to address official corruption in member states, an Israeli newspaper reported. Guinea is not an OECD member. There are no African member countries in the Paris-based Organisation for Economic Co-operation and Development.
Dana Sanchez, 8:34 am
Paystack, one of Nigeria’s most hotly anticipated tech start-ups, has secured $1.3M seed funding from investors including Tencent and Comcast Ventures. China’s Tencent is 46% owned by South African media company Naspers. Comcast is the largest broadcasting and cable TV company in the world. Donald Trump said he intends to keep business ties to Comcast, staying on as executive producer for the spin-off of Comcast affiliate NBC’s “Celebrity Apprentice” series.
Dana Sanchez, 2:09 pm
Grace bought a $1.4 million diamond ring from a Dubai dealer and paid for it from her Zimbabwe account at the Commercial Bank of Zimbabwe. She changed her mind and demanded a refund to her bank in Dubai. The country’s economy is crippled by cash shortages and a forex crisis. President Robert Mugabe is immune from prosecution while in office. Grace is not immune. Many Zimbabwean lawyers won’t risk taking on Grace, but the diamond ring case is the second time Beatrice Mtetwa has gone head-to-head with the first lady.
Staff, 4:53 pm
Ethiopia’s controversial Gibe III dam got an official inauguration Saturday. UNESCO has condemned it. Human rights groups say it has displaced people in the Omo Valley and will decrease water downstream all the way to Kenya’s Lake Turkana. A far more controversial Ethiopian dam, Africa’s largest ever, is scheduled for completion in 2017. The Grand Renaissance Dam will produce the equivalent electricity of six nuclear reactors.
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