Browsing: Business

A move by Zimbabwe’s Central Bank to raise its benchmark to 60 percent from 40 percent could have some unintended consequences on production sectors. That’s according to some market analysts. Last week the apex bank raised rates in an attempt to curb speculative borrowing that had fuelled a decline in the value of the Zimbabwean Dollar.

The daughter of Angola’s longtime former president accumulated riches through embezzlement and money laundering, an Angolan court claims. To recover what was looted, the government froze her assets. Then Portuguese authorities followed suit.

Eight years ago, Forbes declared Isabel dos Santos the richest woman in Africa, worth an estimated $3.5 billion. The daughter of Angola’s longtime former president grew immensely wealthy in a textbook case of how to loot a country.