Browsing: Africa news

South Africa’s Independent Electoral Commission (IEC) has embarked on an unprecedented operation to enable prison inmates across the country to participate in the forthcoming local government elections. Taking the constitutional right to vote to another level, the commission registered eligible voters in 147 correctional facilities in a recent drive.

The African Development Bank (AfDB) has marked a significant milestone in environmental and sustainable finance by unveiling its first-ever USD Global-Sustainable Hybrid Transaction. This unique transaction is comprised of $1 billion in sustainable bonds under both fixed-rate and floating-rate notes. This innovative initiative is particularly significant, being the inaugural 15-year-term transaction performed by any supranational AAA-rated issuer beyond green or social bonds in the Colony Capital markets.

While the economic furor in West Africa continues to unfurl, Burkina Faso’s President, Roch Marc Christian Kabore, has raised a significant query over his country’s affiliation with the West African Economic and Monetary Union (WAEMU). His consideration arises on the heels of neighboring Mali’s recent announcement of its imminent departure from the Union.

Russia has extended a humanitarian hand to the Central African Republic (CAR) by delivering 50,000 metric tonnes of wheat. This sizable consignment comes amidst widespread anxiety about a proposed law that could curtail Russian grain exports.

Landing another significant punch for the Economic Community of West African States (ECOWAS), Niger has pronounced its departure from the bloc, citing the community’s damaging economic sanctions. The president, Mohamed Bazoum, described ECOWAS embargoes as an instigator of economic and social suffering. This follows in the footsteps of Mali and Burkina Faso, two nations that recently broke ties with ECOWAS after facing similar punitive measures following coups.

The United Nations (UN) Under-Secretary-General for Peace Operations was recently in the Central African Republic on an emergency visit amid palpable tension. The visit by such a high-ranking official underscored the UN’s commitment to supporting the people of the Central African Republic during this period of instability.

As the spectre of economic challenges looms large over African economies, Morocco appears to have a considerable edge over South Africa, according to an assessment from the international bond credit rating business, Moody’s Investor Services.

Faith Birol, the Executive Director of the International Energy Agency (IEA), addressed an assembly of global leaders in Rome at the ‘Partnering with Africa’ summit, underscoring Africa’s potential to take the helm as a global nexus for the clean energy revolution.

Burkina Faso, Mali, and Niger, three West African countries, have decided to withdraw their membership from the Economic Community of West African States (ECOWAS) amidst escalating disagreements over the proposed single currency amendment. The proposed amendment seems to insinuate the preservation of the Francophone currency, a decision that the three nations disagree with.

Africa’s second-largest and world’s second-deepest freshwater lake, Lake Tanganyika, is facing grave concerns due to multifaceted ecological threats, primarily climate change, impacting its rich biodiversity and threatening millions of lives that are dependent on this reservoir for their livelihood. Experts warn that the colossal lake, which spans across four nations, including Burundi, the Democratic Republic of the Congo, Tanzania, and Zambia, requires immediate attention.