Here's what you need to know about emerging markets this week, from the WSJ
News and analysis on the frontier markets
Angolans headed to the polls on Wednesday to vote for their first new president in almost four decades and, as expected, chose João Lourenço, the candidate of the ruling People’s Movement for the Liberation of Angola, Neanda Salvaterra reports. Lourenço won 64.6% of the vote, sharply down from the 72% of the vote the MPLA received in 2012’s election. The 63-year-old former general now faces the challenge of guiding Africa’s No. 2 crude producer and its 29 million citizens out of the country’s gravest economic crisis in more than a decade, Gabriele Steinhauser writes. The economy has been crippled by the fall in oil prices—the Southern African country’s main export—and allegations of corruption by top officials. Lourenço has promised to increase transparency, but how he tackles the issue will go a long way toward determining whether Angola, which Transparency International has rated one of the world’s most corrupt nations, can clean up its act. Nigerian President Muhammadu Buhari ret...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.