🇦🇴💰 Angola should let currency float, IMF officials say on visit
Angola should let its currency float, International Monetary Fund officials said on Tuesday during a visit to the southern African country, where authorities have kept the kwanza in a tight range for months.
The government let the kwanza drop by more than one-third over May and June, with analysts linking the move to lower oil revenues and a resumption in external debt payments making it harder for it to prop up the currency. But since early July the kwanza has traded in a narrow range around 830 against the U.S. dollar.
"Our recommendation is for the country to keep up with the floating exchange rate. This is extremely important for Angola, since the floating rate works like a shock absorber for relevant external events," the IMF's resident representative for Angola told.
#Angole #IMF
@africaintel
Angola should let its currency float, International Monetary Fund officials said on Tuesday during a visit to the southern African country, where authorities have kept the kwanza in a tight range for months.
The government let the kwanza drop by more than one-third over May and June, with analysts linking the move to lower oil revenues and a resumption in external debt payments making it harder for it to prop up the currency. But since early July the kwanza has traded in a narrow range around 830 against the U.S. dollar.
"Our recommendation is for the country to keep up with the floating exchange rate. This is extremely important for Angola, since the floating rate works like a shock absorber for relevant external events," the IMF's resident representative for Angola told.
#Angole #IMF
@africaintel
🤮27👎5🤬4👍2🖕2
Africa Intel
🇲🇿 Mozambique settles macroeconomic loss claim over "tuna bonds" Mozambique has stripped an undisclosed chunk from its claim against Emirati-Lebanese shipbuilder Privinvest over the "tuna bonds" scandal, just days after settling its case against Credit Suisse…
🇲🇿 Mozambique's Nyusi to blame over "tuna bond" scandal, shipbuilder's owner says
Mozambican President Filipe Nyusi was ultimately responsible for the failure of the projects at the centre of the "tuna bond" scandal, the owner of Emirati-Lebanese shipbuilder Privinvest told London's High Court.
Privinvest and its owner French shipping magnate Iskandar Safa are facing a $3.1-billion lawsuit from Mozambique for allegedly paying millions in bribes to Mozambican officials and Credit Suisse bankers.
Mozambique alleges more than $136 million was paid to secure favourable terms in relation to three projects in 2013 and 2014, including one designed to exploit the republic's tuna-rich coastal waters.
Privinvest and Safa deny any wrongdoing and say any payments made were lawful. They say the case is a politically motivated attack to deflect blame from Nyusi and other senior officials, who they argue squandered the potential of the projects.
#Mozambique
@africaintel
Mozambican President Filipe Nyusi was ultimately responsible for the failure of the projects at the centre of the "tuna bond" scandal, the owner of Emirati-Lebanese shipbuilder Privinvest told London's High Court.
Privinvest and its owner French shipping magnate Iskandar Safa are facing a $3.1-billion lawsuit from Mozambique for allegedly paying millions in bribes to Mozambican officials and Credit Suisse bankers.
Mozambique alleges more than $136 million was paid to secure favourable terms in relation to three projects in 2013 and 2014, including one designed to exploit the republic's tuna-rich coastal waters.
Privinvest and Safa deny any wrongdoing and say any payments made were lawful. They say the case is a politically motivated attack to deflect blame from Nyusi and other senior officials, who they argue squandered the potential of the projects.
#Mozambique
@africaintel
👎8🤔7😁2👍1
🇳🇬 Nigeria's Lagos gets $1.35 bln deal with Afrexim, Access on investments
Nigeria's Lagos state has secured a partnership with African Export-Import Bank and Access Bank for an investment of $1.35 billion for infrastructure projects, its governor Babajide Sanwo-Olu said on Tuesday.
Sanwo-Olu said the investment will be used to develop a bridge project, a creek project, and expand its light rail project in Lagos, the largest city in sub-Saharan Africa.
Lagos state last year shortlisted a consortium led by Portugal's builder Mota-Engil and two Chinese ventures to build a $2.5 billion bridge that is expected to relieve severe congestion in the mega-city.
The Fourth Mainland Bridge will be built under a public-private partnership.
The state also plans to build an international airport at its Lekki-Epe corridor, with a logistics hub. The Lekki Airport project was originally proposed to open in 2012 but is yet to open as a result of funding difficulties.
#Nigeria
@africaintel
Nigeria's Lagos state has secured a partnership with African Export-Import Bank and Access Bank for an investment of $1.35 billion for infrastructure projects, its governor Babajide Sanwo-Olu said on Tuesday.
Sanwo-Olu said the investment will be used to develop a bridge project, a creek project, and expand its light rail project in Lagos, the largest city in sub-Saharan Africa.
Lagos state last year shortlisted a consortium led by Portugal's builder Mota-Engil and two Chinese ventures to build a $2.5 billion bridge that is expected to relieve severe congestion in the mega-city.
The Fourth Mainland Bridge will be built under a public-private partnership.
The state also plans to build an international airport at its Lekki-Epe corridor, with a logistics hub. The Lekki Airport project was originally proposed to open in 2012 but is yet to open as a result of funding difficulties.
#Nigeria
@africaintel
🤔16👍7👎2
🇨🇩🇺🇳 Conflict uproots record 6.9 million people in DR Congo reported the International Organization for Migration
Conflict and escalating violence have uprooted a record 6.9 million people in the DR Congo, mostly in the east of the country, the International Organization for Migration (IOM) said.
Most of those forced to flee their homes live in the eastern provinces of North Kivu, South Kivu, Ituri and Tanganyika, according to the data collected by the United Nations.
In North Kivu alone, up to one million people have been displaced due the ongoing conflict with a Tutsi-led rebel group M23, IOM said.
IOM said since June it had built 3,347 emergency shelters and distributed 7,715 kits with non-food supplies but warned that operations remain underfunded.
#DRC #UN
@africaintel
Conflict and escalating violence have uprooted a record 6.9 million people in the DR Congo, mostly in the east of the country, the International Organization for Migration (IOM) said.
Most of those forced to flee their homes live in the eastern provinces of North Kivu, South Kivu, Ituri and Tanganyika, according to the data collected by the United Nations.
In North Kivu alone, up to one million people have been displaced due the ongoing conflict with a Tutsi-led rebel group M23, IOM said.
IOM said since June it had built 3,347 emergency shelters and distributed 7,715 kits with non-food supplies but warned that operations remain underfunded.
#DRC #UN
@africaintel
🔥14👍4🤬2😢2❤1
🇺🇬🇺🇸 Ugandan court fines US couple for torturing foster child
A Ugandan court has ordered a US couple charged with torturing their foster child to pay him $26,000 as compensation.
The compensation resulted from a plea deal, which also led to the court dropping the charges of aggravated trafficking and torture against the couple, which could have seen them receive life imprisonment or death penalty.
The couple, Nicholas and Mackenzie Spencer were arrested last year and charged with torturing the 10-year-old boy over two years.
On Tuesday, they pleaded guilty to the charges of cruel, inhumane or degrading treatment, working without permits and staying in Uganda unlawfully, for which they were fined 4.86m Ugandan shillings.
But the Tuesday ruling has angered child rights activists who termed it "a mockery of justice".
#Uganda #USA
@africaintel
A Ugandan court has ordered a US couple charged with torturing their foster child to pay him $26,000 as compensation.
The compensation resulted from a plea deal, which also led to the court dropping the charges of aggravated trafficking and torture against the couple, which could have seen them receive life imprisonment or death penalty.
The couple, Nicholas and Mackenzie Spencer were arrested last year and charged with torturing the 10-year-old boy over two years.
On Tuesday, they pleaded guilty to the charges of cruel, inhumane or degrading treatment, working without permits and staying in Uganda unlawfully, for which they were fined 4.86m Ugandan shillings.
But the Tuesday ruling has angered child rights activists who termed it "a mockery of justice".
#Uganda #USA
@africaintel
🤬60👍14❤4🍌4🤨3
ENTRE GUERRAS
🇲🇱🇺🇳Ahora la misión de las NNUU en el norte de Mali ha iniciado la retirada de su base en Kidal, norte del país, la cual habría sido ocupada por los rebeldes Tuaregs del CSP-CSD. 📍Los rebeldes de la CSP-PSD y el ejército de Bamako se están disputando por…
🇲🇱🇺🇳 Mali rebels claim control of Kidal base after UN exit
Mali's Tuareg rebels say they have taken over a base in the northern city of Kidal vacated by the UN peacekeepers on Tuesday.
The UN mission in Mali, Minusma, said it ended its presence in Kidal in a hurry after its last convoy of peacekeepers suffered two IED attacks on the way to Gao.
MINUSMA also reports that they have been forced to destroy sensitive equipment owned by the countries participating in the peacekeeping mission that they have not been able to take with them.
A local official told that the rebels occupied the camp immediately after it was vacated by the UN mission.
#Mali #UN
@africaintel
Mali's Tuareg rebels say they have taken over a base in the northern city of Kidal vacated by the UN peacekeepers on Tuesday.
The UN mission in Mali, Minusma, said it ended its presence in Kidal in a hurry after its last convoy of peacekeepers suffered two IED attacks on the way to Gao.
MINUSMA also reports that they have been forced to destroy sensitive equipment owned by the countries participating in the peacekeeping mission that they have not been able to take with them.
A local official told that the rebels occupied the camp immediately after it was vacated by the UN mission.
#Mali #UN
@africaintel
🤬22👍4🤨4👎2❤1
Forwarded from JOIN @MEDMANNEWS
⚡️🇵🇸🇪🇬 Egyptian ambulances are entering the Gaza Strip through the Rafah crossing to transfer critically wounded Palestinians to Egypt for treatment.
Subscribe to @themediterraneanman
Subscribe to @themediterraneanman
❤32👍8🤔4
Africa Intel
🇺🇸🇬🇦🇳🇪🇨🇫🇺🇬 US to evict Gabon, Niger, Uganda and Central African Republic from trade program U.S. President Joe Biden said that he intends to end the participation of Gabon, Niger, Uganda and the Central African Republic in the African Growth and Opportunity…
🇺🇸🇲🇷 US to restore Mauritania’s Agoa trade benefits
The US says it will reinstate Mauritania’s benefits under the African Growth and Opportunity Act (Agoa) programme following an eligibility review.
The reinstatement will be done in January next year after the northwest African country made "substantial and measurable progress on worker rights and eliminating forced labour", the US Trade office says.
The trade benefits were suspended in 2019 following concerns over workers' rights violations in Mauritania.
#USA #Mauritania
@africaintel
The US says it will reinstate Mauritania’s benefits under the African Growth and Opportunity Act (Agoa) programme following an eligibility review.
The reinstatement will be done in January next year after the northwest African country made "substantial and measurable progress on worker rights and eliminating forced labour", the US Trade office says.
The trade benefits were suspended in 2019 following concerns over workers' rights violations in Mauritania.
#USA #Mauritania
@africaintel
😁18🖕8🤮5❤1👍1
🏴🇳🇪 Jihadists ambushed a Nigerien army convoy
Radical islamists from IS-Sahel attacked a Nigerien army convoy near the cityt of Dougoua in the west of the country.
As a result militants killed 13 soldiers and captured at least two.
Later they published photos with huge "trophies" on social media.
The main tactic for rebels in Sahel region remains "hit-and-run" (most of the time with the use of motorcycles), when they try to ambush military personnel and retreat back to desert as soon as possible in an attempt to avoid retaliation from the army and exhaust it.
#Niger
@africaintel
Radical islamists from IS-Sahel attacked a Nigerien army convoy near the cityt of Dougoua in the west of the country.
As a result militants killed 13 soldiers and captured at least two.
Later they published photos with huge "trophies" on social media.
The main tactic for rebels in Sahel region remains "hit-and-run" (most of the time with the use of motorcycles), when they try to ambush military personnel and retreat back to desert as soon as possible in an attempt to avoid retaliation from the army and exhaust it.
#Niger
@africaintel
🤔23😢17🤬12😁4❤2
Africa Intel
🇺🇬 Tourists killed in Uganda park attack Ugandan police are pursuing Allied Defence Force (ADF) militants who are suspected to have shot dead two tourists and a guide at the Queen Elizabeth National Park. The three – a British citizen, a South African and…
🇺🇬 Uganda army says it killed rebels that murdered honeymooning tourists
Uganda's military said on Wednesday it had killed a number of fighters from an Islamic State-linked group who shot dead a honeymooning couple and their guide in a national park last month.
Gunmen from the Allied Democratic Forces (ADF) rebel group ambushed David and Celia Barlow and their Ugandan guide Eric Ayai in Queen Elizabeth National Park near the border with Democratic Republic of Congo on October 17.
"ADF terrorists whom we have been tracking down since the attack on tourists were finally got and a number of them were killed last night on Lake Edward," Ugandan military deputy spokesman said.
"The operation is still on to finish all the splinter groups of ADF," he added.
#Uganda
@africaintel
Uganda's military said on Wednesday it had killed a number of fighters from an Islamic State-linked group who shot dead a honeymooning couple and their guide in a national park last month.
Gunmen from the Allied Democratic Forces (ADF) rebel group ambushed David and Celia Barlow and their Ugandan guide Eric Ayai in Queen Elizabeth National Park near the border with Democratic Republic of Congo on October 17.
"ADF terrorists whom we have been tracking down since the attack on tourists were finally got and a number of them were killed last night on Lake Edward," Ugandan military deputy spokesman said.
"The operation is still on to finish all the splinter groups of ADF," he added.
#Uganda
@africaintel
👍25🔥8👏3😁1
Africa Intel
🇸🇳 Senegal opposition leader Sonko regains consciousness Ousmane Sonko, a detained Senegalese opposition figure who has been on hunger strike, has regained consciousness after falling into a coma on Monday, according to one of his lawyers Juan Bronco. But…
🇸🇳 Senegal opposition leader will not be able to re-register on the electoral rolls
A department of the Senegalese interior ministry on Tuesday refused to accept the electoral commission's request to reinstate opposition politician Ousmane Sonko on the electoral roll for 2024 elections.
In a response to a letter from the Autonomous National Electoral Commission (Cena), the Directorate General of Elections said that it "has no jurisdiction to take any action on the electoral roll".
The DGE does not specify who has this authority.
In its letter to the DGE, the Cena had written that Sonko should "enjoy his status as a voter registered on the electoral roll with all the rights (that are) attached".
#Senegal
@africaintel
A department of the Senegalese interior ministry on Tuesday refused to accept the electoral commission's request to reinstate opposition politician Ousmane Sonko on the electoral roll for 2024 elections.
In a response to a letter from the Autonomous National Electoral Commission (Cena), the Directorate General of Elections said that it "has no jurisdiction to take any action on the electoral roll".
The DGE does not specify who has this authority.
In its letter to the DGE, the Cena had written that Sonko should "enjoy his status as a voter registered on the electoral roll with all the rights (that are) attached".
#Senegal
@africaintel
👎23❤3🌭2👏1
Forwarded from ASIANOMICS
🇰🇵 North Korea closes multiple embassies around the world
North Korea is poised to close as many as a dozen embassies including in Spain, Hong Kong, and multiple countries in Africa in a move that could see nearly 25% of Pyongyang's missions close worldwide.
North Korea's recent closing of its diplomatic missions was a sign that the country is struggling to make money overseas because of international sanctions, South Korea's unification ministry said.
North Korean state media outlet KCNA said the country's ambassadors paid "farewell" visits to Angolan and Ugandan leaders last week, and local media in both African countries reported the shutdown of the North's embassies there.
#NorthKorea
@asianomics
North Korea is poised to close as many as a dozen embassies including in Spain, Hong Kong, and multiple countries in Africa in a move that could see nearly 25% of Pyongyang's missions close worldwide.
North Korea's recent closing of its diplomatic missions was a sign that the country is struggling to make money overseas because of international sanctions, South Korea's unification ministry said.
North Korean state media outlet KCNA said the country's ambassadors paid "farewell" visits to Angolan and Ugandan leaders last week, and local media in both African countries reported the shutdown of the North's embassies there.
#NorthKorea
@asianomics
Telegram
Africa Intel
🇰🇵🇺🇬 North Korea to close embassy in Uganda
North Korea is to close its embassy in Uganda, ending half a century of diplomatic presence in one of its longest-standing African allies.
The move was announced on Monday, after a meeting between Ugandan President…
North Korea is to close its embassy in Uganda, ending half a century of diplomatic presence in one of its longest-standing African allies.
The move was announced on Monday, after a meeting between Ugandan President…
😢30👍20🤔15❤4🥰1
🇳🇬 Suspected Boko Haram kills at least 40 in Nigeria's Yobe state
At least 40 people were killed in Nigeria's Yobe state between Monday and Tuesday after suspected Boko Haram militants shot at villagers and set off a land mine, in the first major attack on the northern eastern state in 18 months, the police said on Wednesday.
The attack happened at about 8:30 p.m. on Monday, at Gurokayeya village, Gaidam local government in Yobe State, the state's police spokesperson Abdulkarim Dungus said.
He said gunmen opened fire on villagers, killing at least 17 people and that on Tuesday a land mine exploded, killing at least 20 villagers who were returning from burying victims of the previous attack.
#Nigeria
@africaintel
At least 40 people were killed in Nigeria's Yobe state between Monday and Tuesday after suspected Boko Haram militants shot at villagers and set off a land mine, in the first major attack on the northern eastern state in 18 months, the police said on Wednesday.
The attack happened at about 8:30 p.m. on Monday, at Gurokayeya village, Gaidam local government in Yobe State, the state's police spokesperson Abdulkarim Dungus said.
He said gunmen opened fire on villagers, killing at least 17 people and that on Tuesday a land mine exploded, killing at least 20 villagers who were returning from burying victims of the previous attack.
#Nigeria
@africaintel
😢22🤬8👍5👏2🤯1