The following items from April 18 may emerge to become significant factors impacting geomarket developments in Africa:
Angola: Anti-corruption cases remain ongoing against former Vice President Manuel Vicente and against José Filomeno dos Santos, the former head of the country’s sovereign wealth fund and son of former President José Eduardo dos Santos.
Significance: Sustaining anti-corruption cases against politically exposed persons is undoubtedly a politically controversial move by the João Lourenço administration. But bringing anti-corruption measures to bear on former government elite demonstrates the new Angolan government has quit with the politically expedient and has asserted the means to reform not merely the government but the Angolan state.
Zimbabwe: President Emmerson Mnangagwa visited the country’s Karo Resources platinum mine exploration site.
Significance: The proposed $4.2 billion platinum project may see resource exploration studies completed by the end of the year. The project would be the Mnangagwa administration’s largest foreign investment commitment, should the project continue to proceed. The Zimbabwean president stated the mine could add 25,000 jobs and be fully operational by 2024. Bankable feasibility studies need to be completed first, however.