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FAILED: Rogue Gabon Officers Fail to Seize Power to Oust President Ali Bongo

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The story has been updated to reflect new information. UPDATE: Later in the day the Gabon government gave an update. The government of Gabon has put down an attempted coup. Gabon President Ali Bongo’s government remains in control.

Oil-rich Gabon was under a brief coup d’Etat attempt as a few rogue junior military officers had seized control of a national radio station at 4:30 AM Ghana time. Some military officers are saying they are launching a coup to “restore democracy”. Local media is reporting tanks and armored vehicles on the streets of Libreville.

The tenuous situation ended when Gabon authorities regained control of the state broadcasting offices. The authorities also seized back a major thoroughfare in Libreville. The Gabon government commented these were the only areas taken by the plotters who have been arrested.

Gabon is home to some sovereign wealth capital and rejoined OPEC in 2016.

Starting in 1967, Omar Bongo was President of Ghana until his death in 2009. In 2009, Omar’s son Ali Bongo became President of Ghana. Ali Bongo narrowly won re-election in 2016. However, Ali Bongo has been in Morocco at a hospital after reportedly having a stroke during the Future Investment Initiative (FII) conference in Riyadh in October 24, 2018.

Biogen and Eisai Battered by Markets Over Alzheimer’s Trial Fail

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Cambridge, Massachusetts-based Biogen Inc. (BIIB) took a tumble of 28% in the morning of March 21st after it announced that it would cease its Phase 3 trials of Aducanumab. The therapy was intended to slow cognitive decline in patients with early onset Alzheimer’s. Biogen continued falling on March 22, 2019. Biogen and its Japanese development partner Eisai Co., Ltd. (ESALY) shared that the decision was based on results from an analysis conducted by an independent committee. The analysis determined that the trials were not going to demonstrate that Aducanumab could slow cognitive impairment. Eisai also fell 28% on the day, though it staged a relatively modest recovery on March 22nd. Some large institutional holders of Biogen include APG Asset Management (manager of Stichting Pensioenfonds ABP), Norges Bank Investment Management (manager of Norway Government Pension Fund Global), and Swiss National Bank.

The last time a treatment for Alzheimer’s made it to market was in 2003. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Italy’s CDP Inks Deals with Silk Road Fund and Bank of China

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China is building out its Belt Road Initiative (BRI) to continental Europe. On March 23, 2019, in Rome, Cassa depositi e prestiti Spa (CDP), Snam Spa (Snam) and Silk Road Fund Co., Ltd signed a Memorandum of Understanding (MoU) aiming at exploring and evaluating common business opportunities. Under the MoU, CDP and the Silk Road Fund will facilitate cooperation by focusing on the potential investment opportunities in the following sectors: financial services, agriculture, food, technology, manufacturing, infrastructure and transportation, energy and white economy (healthcare and personal care assistance).

Originally part of ENI, Snam S.p.A. is an Italian natural gas infrastructure company. The Silk Road Fund and Snam will analyze possible collaboration initiatives in the area of natural gas infrastructure (pipelines, storage facilities, LNG infrastructure and biomethane plants) in support of the growth of the natural gas and biomethane sectors in China from a decarbonisation perspective. In its capacity of a national promotion institutions, CDP will look at co-financing initiatives that are consistent with its mission also in the fields of energy and sustainability.

Bank of China

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Angolan Government Recovers Assets from Quantum Global Investment Management

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The State Prosecutor’s Office of Angola said that the country has control of all financial and non-financial assets. The Angolan government claims it recovered US$ 3.35 billion of assets that were under the management of Swiss-based Quantum Global Investment Management AG. Quantum Global Investment Management was essentially the sole manager of assets for the Fundo Soberano de Angola (FSDEA).[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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