Zambia’s president extended a commanding lead in the nation’s election, though a shootout at the home of the main opposition leader raised tensions in Africa’s second-largest copper producer.

Zambian security forces raided the home of the main opposition leader on the day of the presidential election, arresting 11 people after a shootout in what the authorities described as an investigation into an alleged plot involving foreigners.

Zambia’s president widened his lead among voters with over half of electoral constituencies counted, moving closer to extending his rule over the copper-rich southern African nation for a second term.

Zambia’s electoral commission resumed counting ballots in the country’s presidential election, after it said a security threat to the process was contained.

Zambia’s electoral commission cited reports of violence as it halted vote counting in the southern African nation’s general election, while the leading opposition candidate warned that delaying the results could mask foul play.

At the University of Zambia, students who’d queued since 2 a.m. shouted a countdown to the start of Thursday’s general elections and rushed through the door to decide whether to give President Hakainde Hichilema a second term.

South African authorities are focused on hitting budget targets rather than pleasing credit-rating firms, according to the government’s top finance official — and the reward is a bond market that’s already pricing the country’s debt as investment grade.

South African authorities are focused on hitting budget targets rather than pleasing credit-rating firms, according to the government’s top finance official — and the reward is a bond market that’s already pricing the country’s debt as investment grade.

South Africa will hire advisers in the coming weeks to begin negotiations with lenders on a plan to spin off state-owned power utility Eskom Holdings SOC Ltd.’s transmission subsidiary, according to the head of the National Treasury.

A South African app that links households with domestic workers is reeling, delivery drivers are fleeing, and a key textile hub has lost workers as anti-migrant protests push tens of thousands of people to leave the country, sending tremors through a strained economy.

Mozambique is making progress toward a debt-restructuring deal with China similar to the one it reached with Brazil and is seeking a new International Monetary Fund program this year, President Daniel Chapo said.

China called for global measures to curb what it described as “malicious litigation” by bondholders in debt relief cases, saying such action is needed to protect a Group of 20 restructuring mechanism for poor countries struggling to repay their loans.

Vitol Group is supplying diesel to Zambia via exclusive access to a pipeline that lasts through September, in an emergency arrangement the International Monetary Fund has urged authorities to end.

Zambia has received enough support from bondholders to buy back its 2053 dollar debt in full, after offering an extra $65 million to pull in a group of holdout creditors that resisted the transaction.

Zambia’s government is heading to the negotiating table after a group of bondholders moved to block its bid to buy back a $1.36 billion bond before a potentially costly coupon increase.

A group of holders of Ethiopia’s defaulted $1 billion eurobond will continue the process of suing the government after the latest round of restructuring negotiations fell through, according to a committee representing the investors.

A group of holders of Zambia’s dollar bonds maturing 2053 is opposing the government’s tender to buy back the securities, saying it was conducted without negotiation and would harm investors’ interests.

A London arbitration tribunal ordered Zambia’s majority state-owned investment company, ZCCM Investments Holdings Plc, to pay Trafigura about $92 million in a long-running dispute over a prepayment agreement between the commodity trader and Konkola Copper Mines.

Zambia started a cash tender offer to buy back its $1.36 billion bond due in 2053, becoming the latest African nation to repurchase outstanding debt as governments seek to reduce their servicing costs.

Ethiopia’s finance ministry said restructuring talks with some bondholders fell through after they rebuffed its latest proposal for them to take a 12% loss, drawing out a default that dates back to December 2023.