| Welcome to Next Africa, a twice-weekly newsletter on where the continent stands now — and where it's headed. Sign up here to have it delivered to your email. Mauritius joins a growing list of African nations buffeted by political change. Prime Minister Pravind Kumar Jugnauth's five-party Alliance Lepep took a hammering in Sunday's elections, with almost all its lawmakers set to lose their seats.  Alliance du Changement supporters at a campaign rally in Port Louis.
Photographer: Laura Morosoli/AFP/Getty Images While the economy is booming, voters were angered by a spike in living costs and allegations of state corruption. Navinchandra Ramgoolam, who served for three terms as the Indian Ocean island nation's prime minister before being voted out a decade ago, will be back in charge. He'll largely have carte blanche over government policy, given his Alliance du Changement's outright control over parliament. Ramgoolam has pledged to cut fuel, food and medicine prices, scrap value-added tax on necessities and increase old-age pensions — all of which will need funding. The election outcome has rattled investors, with the rupee dipping against the dollar. To his credit, Jugnauth quickly conceded defeat, reinforcing Mauritius' image as a bastion of democracy in a region where leaders all too often stand accused of trying to cling to power without a popular mandate. Mozambique is a case in point — the opposition alleges that last month's elections were rigged in favor of the incumbents and international observers said the process was marred by irregularities. Demonstrations against the outcome remain ongoing. In Botswana, there was a smooth transfer of power after voters booted out the party that ruled for almost six decades. And in South Africa, a 10-party coalition took office in June after the African National Congress lost its parliamentary majority for the first time since apartheid ended in 1994. The battering that ruling parties across Africa have taken in recent elections sends a clear signal that voters won't simply accept the political status quo. — Kamlesh Bhuckory Key stories and opinion:
Three-Term Mauritian Leader is Back After a Decade in Opposition
Mauritius Hit by Post-election Unrest as Focus Turns to Count
Mozambique Ports At Risk as Opposition Chief Urges More Protests
Shock Vote Outcome Ends Botswana Ruling Party's 58-Year Rule
South African Bonds Prove Democracy Invaluable: Matthew Winkler South African retailer Pick n Pay is seeking to raise 8 billion rand ($443 million) through an initial public offering in discount chain Boxer in what is set to be the continent's biggest listing this year. The deal size could increase to 8.5 billion rand through an allocation of additional shares. The IPO forms part of a turnaround plan by Pick n Pay Chief Executive Officer Sean Summers to recapitalize the supermarket chain and stem years of market-share declines.  A Boxer retail outlet. Source: Pick n Pay Senegal is likely to recommit to a $2.67 billion program to reduce its reliance on fossil fuels in coming weeks, according to a key funder. Negotiations over the pact with some of the world's richest nations had been slowed by a change of government in the West African nation this year. An undertaking to stick to the deal is expected in the form of an investment plan, said Remy Rioux, the CEO of France's state development bank. World Trade Organization Director-General Ngozi Okonjo-Iweala will run for a second term unopposed, the organization said. The month-long period for nominations closed on Friday with the incumbent, a former Nigerian finance minister and the first woman to hold the job, emerging as the only candidate, said Ambassador Petter Ølberg of Norway, chair of the WTO's General Council. Questions remain about whether she'll receive support from a new US administration under Donald Trump.  Ngozi Okonjo-Iweala. Photographer: Stefan Wermuth/Bloomberg Resolute Mining finds itself at the center of a shakeup of regulatory regimes across West Africa, where cash-strapped governments are trying to generate more revenue from their natural resources. That follows the detention of the Australian gold producer's CEO Terry Holohan in Mali. The nation's military junta — crippled by sanctions and cut off from Western aid — has also aggressively pursued Canadian giant Barrick Gold, detaining some of its employees. Neighboring Niger, Burkina Faso, Senegal and Ivory Coast are meanwhile updating their mining codes, revoking permits or initiating industry audits. Botswana's new leader Duma Boko announced six appointments to his cabinet, including economist and Deputy President Ndaba Gaolathe as his finance minister. Further names will be announced in due course. Boko succeeded Mokgweetsi Masisi as president of the diamond-rich southern African nation after his surprise win in last month's elections. He picked Phenyo Butale as international relations minister and Micus Chimbombi as land and agriculture minister.  Boko Duma.
Photographer: Monirul Bhuiyan/AFP/Getty Images The premium on African sovereign debt over US Treasuries has dropped to a five-year low, signaling investor confidence in certain high-yield bonds even as concerns linger about how Trump's second presidency will impact the continent. The move was largely driven by country-specific developments, including debt revamps, according to JPMorgan Chase. Thank you for your responses to our weekly Next Africa Quiz and congratulations to Njideka Nwosu, who was first to name South Africa as the country that had a major November snowfall, just ahead of its summer. South Africa's unemployment rate fell as the community and social services and construction sectors boosted hiring. The improvement takes place against the backdrop of better business confidence and signs that the economy is recovering. The jobless rate dropped to 32.1%, national statistics agency data showed. Thanks for reading. We'll be back in your inbox with the next edition on Friday. Send any feedback to mcohen21@bloomberg.net | 
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