Browsing: africa

The 30th edition of the illustrious Pan African Film Festival commenced on February 28, 2022, in Beverly Hills, Los Angeles. As one of the largest and most prestigious black film festivals globally, the festival is set to feature more than 150 films from over 40 countries, including Nigeria, Sudan, and Somalia.

In an exciting development for the energy sector, Swire Energy Services has successfully finalized the acquisition of South African offshore support services provider, Manifold Offshore. Although the financial details of the transaction remain undisclosed, the move is expected to greatly consolidate Swire’s service offerings in the oil and gas maintenance industry across Africa.

The Director of the International Monetary Fund’s (IMF) African Department, Abebe Aemro Selassie, expressed significant optimism about Africa’s economic recovery from the fallout of the COVID-19 pandemic during a recent media roundtable discussion.

A global nature conservation group, African Parks, has committed to investigating allegations of human rights abuses at one of its parks in the Congo. The accusations were held by The Rainforest Foundation UK and Resource Matters, which presented strong claims of unlawful evictions, intimidation, harassing incidents, and misuse of force against park residents.

The United Nations Children’s Fund (UNICEF) has sounded a desperate warning over the escalating education crisis in East Africa, resulting from a harrowing combination of climate-related disasters and the ongoing impact of the COVID-19 pandemic.

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.

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 African Union (AU) is pressing for dialogue between the Economic Community of West African States (ECOWAS) and regions in West Africa plagued by military coups, with specific emphasis on Guinea and Mali. This comes in the wake of military authorities in Mali showing intent to delay anticipated elections until 2026, contradicting ECOWAS’ calls for a swift return to constitutional rule.

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.