Africa news in brief

eSwatini king appoints MTN executive as PM

eSwatini’s King Mswati has appointed Ambrose Dlamini, chief executive of the local unit of telecoms group MTN, as new prime minister of the southern African kingdom, local media reported.

Mswati is Africa’s last absolute monarch and has tight political control over the impoverished, land-locked nation formerly known as Swaziland, where political parties are banned. The king chooses the prime minister and government.

The Times of Swaziland reported that Mswati made the announcement to supporters on Saturday at his royal residence.

“The heavens told me that the person I will appoint should have your support and cooperation. You should cooperate with him so that tomorrow you don’t turn around and say the king gave you someone who knows nothing,” the paper quoted Mswati as saying.

The new prime minister replaces Sibusiso Dlamini, who died last month.

Swaziland also recently held legislative elections that are seen as largely symbolic and do not have party lists.

The king, who has several wives, is accused by critics and rights groups of using the public purse to fund his family’s lavish lifestyle, which he denies.

-Nampa/Reuters

Carmakers pledge over US$3 billion to South Africa

South Africa’s association of carmakers said on Friday that its members would invest more than 40 billion rand (US$3 billion) in the country over the next five years.

The announcement by the association, whose members include Nissan, Volkswagen and Isuzu, was made at an investment conference.

-Nampa/Reuters

Benin raises 2018 economic growth forecast

Benin’s government raised its economic growth forecast for this year to 6.5%, up from an earlier estimate of 6%, and said it anticipates 6.5% growth in 2019 too.

Speaking alongside the head of an International Monetary Fund (IMF) mission to the West African country late on Friday, finance minister Romuald Wadagni said this year’s growth would be about 1% higher than last year.

IMF mission head Luc Eyraud said Benin was respecting the terms of its three-year financial assistance programme with the Fund and that the increased growth was due to strong agricultural production and demand from neighbouring Nigeria.

-Nampa/Reuters

Nigeria aims to resolve MTN dispute, soothe investor fears

Nigeria is confident of resolving a US$10.1 billion dispute with telecoms firm MTN and sending a positive signal to foreign investors worried about the country’s demand for the money, its trade and investment minister told Reuters.

Nigeria’s central bank on Aug. 29 ordered the South African firm and its lenders to bring US$8.1 billion back into Nigeria that it alleges the company sent abroad in breach of foreign exchange regulations. MTN also faces a US$2 billion tax demand from the country’s attorney general.

MTN denies any wrongdoing.

Okechukwu Enelamah, a former private equity executive, said the government was talking to all parties involved and aiming to resolve the disputes soon to boost investor confidence.

“We have had discussions in government and we have engaged MTN. I’m sure that the issue would be resolved,” he said in an interview in the capital Abuja.

“We want to deal with it ... in a way that would be responsive to investors.”

Enelamah said investors had welcomed the government’s feedback on the disputes after officials met fund managers on the sidelines of the United Nations summit in New York last month. He declined to give details.

The case involving the central bank is due to be heard in a Lagos court on Oct. 30, while a hearing on the tax bill is scheduled at the same court on Nov. 8.

-Nampa/Reuters