South Africa is the most exposed sub-Saharan African state to market volatility and a potential shift in investors’ risk perceptions linked to Britain’s decision to leave the European Union, ratings agency Moody’s said on Friday.“South Africa’s current account deficit leaves it vulnerable to short-term capital outflows amid changes in investors’ risk perceptions and appetite,” Moody’s…
Election-planning disagreements, backroom dealings and insecurity are among the threats to peaceful national polls planned for August.As election season approaches, Mogadishu is a hot, fortified city, subject to frequent Al-Shabaab attacks and clan and business disputes that end violently. Armoured trucks carrying African Union (AU) troops roll around town as squads of heavily armed men…
A minibus belches black smoke; the lorry behind it in the traffic jam billows white fumes. Eyes smart in the smog as diesel gases from thousands of 10 and 15-year-old vehicles fill Nairobi’s hazy evening air, adding to pollution levels that are “beyond imagination”, according to one resident. This jam could last for one, three,…
Rwanda’s capital Kigali was nicknamed ‘Little Europe’ by Europeans and Asians for its ambitious plans and neatness. And Kigali city has scored another first. The city has announced a regular car free days. According to the city mayor, particular streets will be closed off for car use to allow people walk to work. Last Sunday…
A lack of financing is holding back Kenya’s potential as a tech hub. But with more venture capital and private-equity firms moving in, that could soon change.Every day, a fleet of motorcycle couriers whisks tubs of pad thai, business contracts and laptop chargers forgotten in the office through Nairobi’s notoriously congested streets.Smartphone users across the…
While commodity exporters will feel the pinch from China’s recent economic slowdown, the price collapse may help with the continent’s much-needed economic transformation.It has no precedent in human history: the emergence of hundreds of millions of people into industrial-era jobs and living standards. It was the result of 40 years of 10% growth since the…
Nkosazana Clarice Dlamini-Zuma, African Union Commission Chairperson. Photo©Salvatore Di Nolfi/AP/SIPANKOSAZANA CLARICE DLAMINI-ZUMA, AFRICAN UNION COMMISSION CHAIRPERSON. PHOTO©SALVATORE DI NOLFI/AP/SIPAAfrican leaders are set to elect the next chairperson of the African Union Commission during their meeting in Kigali, Rwanda from July 10 to 18.Incumbent, Nkosazana Dlamini-Zuma is due to end her four-year term next week, having…
Nigerian President Muhammadu Buhari has replaced Oil Minister Emmanuel Ibe Kachikwu as group managing director of state oil company NNPC as part of a wider board overhaul.Oil accounts for about 70 percent of Nigeria’ revenue, but the OPEC member has been hit hard by a prolonged drop in crude prices that has caused the deepest…
The explanation for our national turgidity lies in the early withdrawal method. Our collective intention as a country is to make a great fuss and then peel off to make another great fuss, with predictably low returns, writes Nana Yaa Ofori-Atta.Ghanaian children of a certain type are strongly encouraged to learn to read with phonetics.…