A new government has been born in Africa. One that could re-light hope for one of the most interesting uranium projects that never was.
The place is Madagascar. Which voted in its first democratically elected president in nearly five years on December 20.
The east African nation—the world’s fourth-largest island—has labored under a military government since a 2009 coup that ousted pro-business leader Marc Ravalomanana. But that’s changed with Malagasy voters going to the polls over the last few months—amid mounting pressure from the international community for the nation to get its house in order.
Initial results in October failed to return a leader (which requires a 50% majority vote under Malagasy law). A December run-off was set between leading candidates Jean Louis Robinson and Hery Rajaonarimampianina (yes, that’s the spelling).
Official counting and re-counting has now revealed Rajaonarimampianina as the winner of that vote. Pending a few judicial matters, he will be officially sworn in as national leader.
Some Hope For a Would-Be Resource Giant
This isn’t the ideal outcome as far as investors are concerned. But it’s a big step in the right direction.
Runner-up Jean Louis Robinson was a better bet as a pro-business leader. Being the anointed choice of the country’s last president Marc Ravalomanana—a dairy businessman who opened the country to outside investment during…