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Chad's President Idriss Déby dies on battlefield after clashes with rebels

20 April 2021 9:02 PM
Tags:
Africa
The Money Show
Bruce Whitfield
Chad
Idriss Deby
sub-Saharan Africa
rmb
Lwandile Nene

Provisional election results show 68-year-old President Idriss Déby had been on track to win a sixth term in office.

Chad's President Idriss Déby has died of his injuries after clashes with rebel groups in the north of the country, the army has announced.

It's reported that he'd travelled to the front line over the weekend to meet soldiers fighting a rebel group called Fact (Front for Change and Concord in Chad).

Déby (68) was on track to win a sixth term in office, according to provisional election results.

He'd been in power for more than three decades.

The army said Déby's son, who is a general, will lead a military council to govern Chad for the next 18 months.

Elections will follow.

© Anton Medvedev/123rf.com

Bruce Whitfield interviews Lwandile Nene, Debt Capital Markets Transactor at Rand Merchant Bank (RMB).

I'm guessing we don't talk about Chad that very often because it's not that much on the investment radar?

Bruce Whitfield, The Money Show host

Chad obviously don't have any instruments out there in the capital markets and the offshore space that give them the opportunity for us to access the credit.

Lwandile Nene, Transactor - Rand Merchant Bank

I think one of the most pertinent things that might have come out of this (as bad as the news itself is), is the fact that we have seen positive growth...

Lwandile Nene, Transactor - Rand Merchant Bank

... and the fact that the African capital markets are no longer seen as homogenous in that the negative news that has impacted Chad doesn't have the same level of contagion that it previously would have, in terms of affecting surrounding countries and their credit spreads...

Lwandile Nene, Transactor - Rand Merchant Bank

How much appetite for risk is there in any case in a low-vaccination environment like sub-Saharan Africa, asks Whitfield.

You have to look at where developed market players are actually currently situated... What we've seen of late is that Africa has been a growing player in the capital markets space...

Lwandile Nene, Transactor - Rand Merchant Bank

Listen to Nene's update on the Africa Business Report:




20 April 2021 9:02 PM
Tags:
Africa
The Money Show
Bruce Whitfield
Chad
Idriss Deby
sub-Saharan Africa
rmb
Lwandile Nene

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