Hopes rose this year that a large initial public offering would rejuvenate one of Africa’s oldest bourses, but lack of reform is constraining trading By Celeste Hicks Hopes rose earlier this year of a spurt of investor and business confidence in the Casablanca Stock Exchange (CSE) when the local subsidiary of the French petroleum giant Total launched an initial public offering (IPO) on the Morocco-based bourse. Expectations were high that the size of the Total offering, and the financial muscle of the company involved, would rejuvenate one of Africa’s oldest exchanges. By choosing to offer its shares on the CSE,…
Celeste Hicks
The trial of Hissène Habré, Chad’s former tyrannical ruler, has raised hopes that new systems of so-called hybrid justice can be developed. The Extraordinary African Chambers (EAC), a new body established by the African Union (AU) within the Senegalese court system, is hearing the Habré trial. It marks the first time that the courts of one African nation have tried the former leader of another African country, and the first time a universal jurisdiction case has proceeded in Africa. After an initial adjournment, Mr Habré’s trial recommenced in September. Mr Habré, who ruled Chad from 1982 to 1990, is accused…
Morocco: recognising Tamazigh The five-year-old constitution seeks to restore the language, culture and traditions of a marginalised group By Celeste Hicks Although Morocco largely avoided the turmoil seen in other North African countries during the Arab Spring protests five years ago, it did not escape unscathed. A popular protest movement known as the “February 20th movement” saw widespread demonstrations in urban areas, inspired by events in Tunisia and Egypt. After months of unrest, Morocco’s King Mohammed VI promised to extend democracy and ushered in the passing of a new constitution in 2011. As well as promises to hold new elections…
Horn of Africa: polio strikes again Somalia, crippled by years without a functioning government, is struggling with its latest outbreak by Celeste Hicks Eight years after the last outbreak in 2005, polio is once again ravaging the Horn of Africa. Since May health authorities have reported 191 cases: 174 in Somalia, 14 in north-eastern Kenya and three in Ethiopia. The outbreak appears to have been made worse by the years of war and government failure in Somalia, where large numbers of children have never been vaccinated against the disease. “Already we’ve had more than 170 children suffering, which is 170…
