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Issue 397 - 25 July 2019

Congo-B defies sceptics to get IMF deal

President Denis Sassou Nguesso’s debt-stressed administration has finally obtained a new International Monetary Fund (IMF) facility, worth nearly $449m, despite criticism that Brazzaville has not provided sufficient detail of parallel rescheduling deals for arrears contracted in...

Issue 397 - 25 July 2019

Central Africa

Issue 397 - 25 July 2019

Zimbabwe: Government introduces foreign currency procurement

Barely a month after banning the use of foreign currencies within the country, the government has declared that mining companies and hotels must pay for their power in US dollars as part of new measures aimed at improving electricity supply. In June, the government banned the...

Issue 397 - 25 July 2019

Zimbabwe

Issue 397 - 25 July 2019

IMF paper highlights extent and cost of Congo-B corruption

Even while the International Monetary Fund (IMF) executive board was praising the Brazzaville authorities’ commitment to reform, a recent IMF working paper underlined the extent of governance problems. Macro-Fiscal Gains from Anti-Corruption Reforms in the Republic of Congo,...

Issue 397 - 25 July 2019

Central Africa

Issue 397 - 25 July 2019

Equatorial Guinea: Protests over NGO closure

The Center for Studies and Initiatives for the Development of Equatorial Guinea (CEID) has protested against an Interior Ministry resolution ordering that the NGO should be dissolved. The decision was dated 11 April but delivered on 3 July. The CEID said the authorities had...

Issue 397 - 25 July 2019

Equatorial Guinea

Issue 397 - 25 July 2019

Kenya: Finance minister arrested

Finance minister Henry Rotich has pleaded not guilty to corruption and fraud charges related to two hydroelectric dam projects. Rotich was arrested on 22 July. The charges relate to the procurement and payment process for the 80MW Arror River and 20MW Kimwarer projects, which...

Issue 397 - 25 July 2019

Kenya

Issue 396 - 11 July 2019

Mozambique: World Bank funding for transmission line

The World Bank Group board of directors on 20 June approved $300m in grants and $120m in guarantees for the Temane Regional Electricity Project (TREP). The project involves the construction of a 563km high-voltage transmission line between Maputo and Vilanculos/Temane and...

Issue 396 - 11 July 2019

Mozambique

Issue 396 - 11 July 2019

Equatorial Guinea: Bonhams to sell Teodorin’s car collection

Twenty-five supercars seized by Switzerland in 2016 from Teodoro Nguema Obiang Mangue, the vice-president of Equatorial Guinea and son of the president, will be auctioned to the public in September. The auction is expected to raise more than €12m ($13.4m), auction handlers,...

Issue 396 - 11 July 2019

Equatorial Guinea

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