UBA and African Guarantee Fund Forge a $50M Alliance to Fuel SME Growth and Women Entrepreneurship Across 20 African Nations Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Mar 12, 2024 ​ The United Bank for Africa bankers and AGF members afterr signing the partnership The United Bank for Africa (UBA) has announced a landmark partnership with the African Guarantee Fund (AGF) aimed at bolstering Small and Medium Enterprises (SMEs) across 20 African nations. This collaboration sees the AGF pledging a substantial $50 million in Portfolio Guarantees, alongside a comprehensive capacity-building program tailored for UBA's SME clientele. The initiative places a particular emphasis on enterprises led by women and those focusing on eco-friendly projects. UBA’s Group Managing Director, Oliver Alawuba, at the signing ceremony in Lagos, highlighted UBA's ongoing commitment to nurturing SMEs on the African continent, with a special focus on female entrepreneurs. "This guarantee acts as a significant boost for our SME-focused initiatives, particularly for businesses led by women and those prioritizing environmental sustainability. The upcoming capacity-building efforts across 20 African countries are in perfect harmony with our goal to empower businesses, spur innovation, and cultivate sustainable economic growth, " Alawuba stated. Alawuba also expressed enthusiasm about the partnership's role in supporting the African Continental Free Trade Area (AfCFTA) agreement, reiterating UBA's $6 billion commitment to African SMEs. This move is part of a broader strategy to bolster economic unity across the continent. The collaboration also aims to address gender disparities in business financing. "In partnership with the Affirmative Finance Action for Women, we're dedicated to offering women-owned SMEs more favorable loan conditions and flexible collateral requirements, addressing the estimated $42 billion financing gap faced by African women in business," Alawuba added. Jules Ngankam, Group CEO of the AGF, underscored the significance of this alliance between two leading pan-African entities. He emphasized the crucial role of SMEs in Africa's economy, noting their predominant presence in the private sector and substantial contribution to employment. "This initiative is set to mitigate the financial risks associated with SMEs, with a keen focus on women-led and green enterprises, thereby fostering economic expansion across the continent ," Ngankam remarked. This strategic partnership aligns with UBA and the AfCFTA Secretariat's earlier announcement in September 2023, aiming to support UBA's extensive commitment to nurturing SMEs across Africa under the AfCFTA framework. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

DR Congo Army Thwarts Attempted Coup, Leader Killed Facebook X (Twitter) WhatsApp Copy link Mbeki edmond May 19, 2024 ​ Christian Malanga on left , a U.S.-based Congolese politician, was identified as the coup leader. Malanga was killed during the attack on the Palais de la Nation In a dramatic turn of events, the Democratic Republic of Congo (DRC) army has successfully thwarted an attempted coup, resulting in the death of the coup leader and the arrest of approximately 50 individuals, including three American citizens. This information was confirmed by an army spokesperson to Reuters. Gunfire erupted around 4 a.m. in Kinshasa, the capital of the DRC, according to a Reuters reporter on the scene. The armed men targeted the presidency in the city center, as reported by army spokesperson Sylvain Ekenge. A simultaneous attack took place at the residence of Vital Kamerhe, a prominent member of parliament and potential speaker. This incident resulted in the deaths of two guards and one attacker. The details were confirmed by Kamerhe's spokesperson, Michel Moto Muhima, and the Japanese ambassador, both posting on social media platform X. In a related incident, a shell fired from Kinshasa struck Brazzaville , the capital of the neighboring Republic of Congo, injuring several individuals. One person has been hospitalized, according to a statement from Brazzaville's government. Christian Malanga, a U.S.-based Congolese politician, was identified as the coup leader. Malanga was killed during the attack on the Palais de la Nation. Another key figure, Aboubacar, was neutralized during the attack on Kamerhe's residence. The remaining suspects, including Malanga's son, are currently under interrogation by the DRC Armed Forces. Christian Malanga, a U.S.-based Congolese politician, was identified as the coup leader. Malanga was killed during the attack on the Palais de la Nation Ekenge noted that Malanga had previously attempted a coup in 2017, which was also unsuccessful. U.S. Ambassador to the DRC, Lucy Tamlyn, expressed her concern over the involvement of American citizens in the coup attempt. She assured full cooperation with DRC authorities to investigate and hold accountable any U.S. citizen involved in criminal activities. The U.S. embassy had earlier issued a security alert regarding the situation. The United Nations' stabilization mission in the DRC, led by Bintou Keita, condemned the coup attempt and offered support to the Congolese authorities. President Félix Tshisekedi, re-elected for a second term in December, has yet to name a government, despite appointing a prime minister six weeks ago. The election for the speaker of parliament, in which Kamerhe is a candidate, was scheduled for Saturday but has been delayed by Tshisekedi. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

South Sudan Seeks Schengen Visas for Olympic Fans Traveling to Paris Amid French Scrutiny Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Jul 2, 2024 South Sudanese basketball team celebrates their victory with joy and unity South Sudan is requesting temporary visas from French authorities for government-nominated Olympic fans attending the Paris Games. This request follows discussions between officials from both nations, with French authorities emphasizing requirements to prevent misuse of visas for immigration. A senior official in South Sudan's Foreign Affairs ministry revealed that talks have focused on ensuring that fans and athletes return home post-games, amid concerns of some using the opportunity to remain in Europe. Assurances were provided by South Sudanese ministers and the French ambassador that all participants will return unless they hold European passports. The Minister of Foreign Affairs, Abdallah Mohammed Goch, confirmed his meeting with the French ambassador on June 28, emphasizing mutual benefits, including visa arrangements for French nationals exploring investment opportunities in South Sudan. South Sudan is also prepared to offer temporary visas to other countries to enhance bilateral relations. The Schengen visa allows non-EU nationals to visit the Schengen area for up to 90 days within a 180-day period. This visa is crucial for South Sudanese fans, athletes, and officials traveling to Paris, given that an airport transit visa is required for non-EU nationals connecting through Schengen countries. Goch highlighted the importance of these discussions, as many nominated individuals have never traveled abroad and need proper documentation to participate in the Olympics. The Schengen Agreement, signed in 1985, abolished internal border checks within member countries, allowing for free movement and harmonized visa policies. South Sudan aims to ensure its citizens can benefit from these provisions during the Paris Olympic Games. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Two British citizens have been arrested in Ghana for Attempting to Smuggle $6.48M Worth of Cocaine Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Jun 12, 2024 ​ Two British citizens have been arrested in Ghana after being accused of attempting to smuggle $6.48 million (£5 million) worth of cocaine from Accra to London. Authorities seized approximately 166 kilograms (366 pounds) of cocaine at Kotoka International Airport in Accra on Monday. The suspects were scheduled to board a British Airways flight to London Gatwick Airport. According to Ghana’s Narcotic Control Commission, the cocaine was concealed in 72 slabs distributed across six suitcases. This operation was conducted jointly by the Ghanaian commission and the UK Crime Agency . Ghana has become a significant transit point for illegal drug trafficking to Europe and the United States. This status has led authorities to intensify surveillance efforts at the country’s ports. In 2022, Ghanaian authorities reported a substantial increase in drug seizures, with a record-breaking total of 59.9 kilograms of illicit drugs found. The recent arrest highlights ongoing efforts to curb the illegal drug trade and enhance security measures at critical transit points. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

A Hero's Betrayal: The Alarming Abduction of Paul Rusesabagina Facebook X (Twitter) WhatsApp Copy link Johnathan Morris Feb 24, 2024 ​ George W Bush awarded the Presidential Medal of Freedom to Paul Rusesabagina at the White House in 2005.(Reuters: Jason Reed) The saga of Paul Rusesabagina , famously known for his heroics during the Rwandan Genocide that inspired the film Hotel Rwanda , took a dark turn in recent years as he became a vocal critic of the Rwandan government. Rusesabagina's ordeal began when he was deceived into boarding a flight he believed was bound for a speaking engagement in Burundi. Instead, the flight, secretly orchestrated by the Rwandan government, took him to Kigali, Rwanda, where he was immediately taken into custody. This act sparked international outrage, with human rights organizations, journalists, and policymakers labeling it as a clear case of enforced disappearance and a gross violation of international law. The Lantos Foundation for Human Rights & Justice, among others, has been vocal in condemning the Rwandan government's actions, highlighting the clear evidence of complicity by Rwandan officials in Rusesabagina's abduction. The Foundation even called for Global Magnitsky sanctions against key Rwandan officials, underscoring the severity of human rights violations involved in this case. The international community, including the European Parliament and the US Congress, has condemned Rusesabagina's detention, pointing to the broader pattern of repression by the Rwandan government against critics and dissenters. Such actions have raised grave concerns about the state of democracy and human rights in Rwanda, suggesting a descent into authoritarian rule under President Paul Kagame's leadership. The case of Rusesabagina serves as a chilling reminder of the lengths to which the Rwandan government might go to silence its critics, further exacerbating fears for the safety and fair treatment of other dissenting voices within and outside the country. This incident not only casts a shadow over Rwanda's human rights record but also calls into question the international community's role and response to such blatant disregard for international norms and standards of justice and human dignity​ More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Dangote's 1Billion-Dollar Investment in Senegal's Phosphate Industry Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Feb 18, 2024 ​ Africa's richest man Aliko Dangote Nigerian billionaire Aliko Dangote has announced a significant investment exceeding $1 billion to develop a phosphate project in Senegal, following discussions with President Macky Sall. This move aims to leverage Senegal's extensive phosphate reserves, crucial for fertilizer production, and signifies a major expansion of Dangote Group's operations in the region. Senegal, with phosphate reserves sufficient for 500 years at the current extraction pace, presents a robust opportunity for sustainable resource exploitation. The Dangote Group, already established in Senegal since 2015 through a cement plant in the Thies region, views this investment as a strategic entry into the country's flourishing phosphate industry. Other local companies currently exploiting this mineral include Société Sénégalaise des Phosphates de Thiès and Industries Chimiques du Sénégal, among others, contributing to exports in various forms including fertilizers and phosphate rock. This investment is not just a business expansion for Dangote but also a move that has earned him high honors from the Republic of Senegal, reflecting the significance of this venture in fostering economic ties and industrial growth. The project is set to kick off upon license approval, promising a substantial boost to Senegal's phosphate industry and its global market presence . More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

African Development Bank Approves $1 Billion Loan for South Africa's Transnet Facebook X (Twitter) WhatsApp Copy link Ayize claire Jul 17, 2024 A Transnet locomotive arrives as people wave South African flags during a ceremony, marking a significant moment for the logistics company. The African Development Bank (AfDB) has approved a $1 billion loan for South Africa's Transnet to support the struggling logistics firm's recovery plan, the bank and company announced on Thursday. State-owned Transnet has faced challenges in providing adequate freight rail and port services due to equipment shortages and maintenance backlogs from years of under-investment. This has affected commodity exports and sectors such as manufacturing and retail, weakening Africa's most advanced economy. The 25-year loan, fully guaranteed by the South African government , will fund the first phase of Transnet's ZAR 152.8 billion ($8.1 billion) five-year capital investment plan. This plan aims to enhance the company's existing capacity before expanding key segments of the transport value chain. Transnet, with debts of 130 billion rand, reported a loss of 1.6 billion rand for the six months ending September 30, driven by declining rail, port, and pipeline volumes and higher costs. Freight volumes have dropped to 150 million metric tons in the 2022/23 financial year from 226 million tons in 2017/18. Transnet's recovery plan, announced in October 2023, aims to restore freight volumes and return the company to profitability within 18 months. The turnaround strategy includes splitting the freight rail subsidiary into an infrastructure management company and an operating unit, reducing port backlogs, and reopening parts of its rail network to private operators after a failed attempt two years ago. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Uganda Set to Inaugurate Premier Tin Refining Facility in Southwestern Region Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Apr 4, 2024 ​ Kampala, Uganda - In a significant stride towards bolstering its mining sector, Uganda is poised to launch its inaugural tin processing plant next month, signaling a major leap in the nation's efforts to enhance its mineral value chain. This strategic move, aimed at augmenting domestic processing capabilities, aligns with President Yoweri Museveni's vision to maximize the East African country's export benefits. Expansion of Mineral Processing Capabilities Uganda, home to multiple gold refineries and a recent beneficiary of Chinese investment through Sunbird Resources' limestone mining for cement production, is now extending its processing repertoire to include tin, a valuable metal widely used in various industrial applications. Irene Bateebe, a senior official at the Ministry of Energy and Mineral Development, confirmed the impending commissioning of the tin refining facility. "This marks the dawn of a new era in Uganda's mineral sector, as we unveil our very first tin processing plant," Woodcross Resources: At the Helm of Innovation The pioneering plant, owned by Woodcross Resources, a distinguished player in Uganda's mining and mineral trading arena, is set to refine tin with over 99% purity, a testament to the advanced technological capabilities being introduced in the region. Although the investment details remain undisclosed, the significance of this venture in enhancing Uganda's mineral value addition cannot be overstated. Woodcross Resources, with a robust presence in the sector, holds a tin mining license covering an expansive 40 square kilometers in Western Uganda. The facility's anticipated annual capacity exceeds 1,000 tonnes, positioning Uganda as a key player in the global tin market. A Future of Enhanced Value Addition This development not only represents a milestone in Uganda's mineral processing journey but also reinforces the country's commitment to adding value to its natural resources. As the nation prepares for this landmark event, the global mining community watches keenly, recognizing Uganda's emerging role in shaping the future of mineral processing in Africa. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Crystal Palace Winger Michael Olise Still Eligible for Nigeria After Euros Snub Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe May 17, 2024 ​ Crystal Palace winger, Michael Olise Crystal Palace star Michael Olise remains eligible to represent Nigeria at the international level following his exclusion from France’s squad for the 2024 European Championships. Despite an impressive season with Palace, Didier Deschamps left Olise out of the French squad. The 24-year-old winger scored 10 goals and provided five assists in just 18 games, showcasing his exceptional talent and consistency. However, this was not enough to secure him a spot in the Euros lineup. Born in London to a Nigerian father and a French-Algerian mother , Olise has the unique opportunity to play for four different national teams. He is eligible to represent Nigeria, France, and Algeria through his parents, and England due to his birthplace. Olise's exclusion from the French squad opens the door for Nigeria, where his skills could significantly bolster the team's attacking options. With his international future still undecided, the Nigerian Football Federation might seize this opportunity to persuade him to join the Super Eagles. Why Olise's International Eligibility Matters Olise’s versatility and attacking prowess make him a valuable asset for any national team. His eligibility for multiple countries keeps fans and football associations eager to see where he will ultimately pledge his allegiance. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Africa dominates list of the world’s 20 fastest-growing economies in 2024 Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Feb 16, 2024 ​ From left to right: Director, Center for Sustainable Development, Columbia University, Prof Jeffrey Sachs; AU Commissioner, Ambassador Albert Muchanga; African Development Bank President Dr Akinwumi Adesina, Vice President Marie-Laure Akin-Olugbade and Chief Economist and Vice President Prof Kevin Urama. In 2024, Africa is poised to emerge as the world's second-fastest-growing major economy, as highlighted by the Economist Intelligence Unit (EIU). This remarkable growth trajectory places the continent ahead of regions such as North America, South America, Europe, and Australia, with only Asia, led by giants China and India, expected to outpace Africa's growth. The continent's robust growth forecast is driven by a combination of factors, including the resilience and dynamism of East African nations like Kenya, Ethiopia, Uganda, Rwanda, and Tanzania, which are anticipated to lead in terms of economic expansion. The EIU's comprehensive analysis in its "Africa Outlook 2024: Strong Growth Amid Heated Elections and Financial Woes" report underscores Africa's ability to navigate through recent global challenges, including the COVID-19 pandemic and geopolitical tensions. The continent's natural resource wealth, alongside significant investments in sectors critical for the global energy transition and digital transformation, is expected to fuel its economic engines. However, the EIU also cautions about the potential risks associated with high levels of external debt, which could pose challenges to achieving the projected growth targets. Africa's economic landscape in 2024 is characterized by a vibrant services sector in East Africa, contributing significantly to the region's growth through sectors such as travel, tourism, and telecommunications. The continent's resource-intensive economies are also expected to benefit from the high demand and prices for African hydrocarbons, minerals, and agricultural produce. Nevertheless, the concern over excessive external debt and the impending financial obligations, such as Kenya's Eurobond redemption , highlight the need for prudent financial management and possibly external debt restructuring to maintain economic stability and growth. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Nigeria Central Bank Delivers Third Big Rate Hike This Year Amid Soaring Inflation Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe May 22, 2024 ​ Nigerian President Bora Tinubu Nigeria's central bank implemented another substantial interest rate hike on Tuesday, responding to a continued rise in inflation, which hit a 28-year high in April. Central Bank of Nigeria (CBN) Governor Olayemi Cardoso stated that the Monetary Policy Committee (MPC) faced a critical decision: either raise or hold rates while assessing the impact of previous hikes. Ultimately, the MPC opted for an increase to ensure price stability. The Monetary Policy Rate was elevated by 150 basis points (bps) to 26.25%, marking the third rate increase this year following hikes of 200 bps in March and 400 bps in February. Governor Cardoso emphasized that the balance of risks indicated a need for further tightening to build on the benefits of previous hikes. Economists had broadly anticipated another hike given the persistent inflation and the highly volatile naira currency. "A bold policy move was required to bring Nigeria's real rates closer to positive territory and halt the naira's decline," commented Danny Greeff, an analyst at ETM Analytics. Inflation soared to 33.69% year-on-year in April, a level unseen since mid-1996. This surge was driven by the government's removal of petrol and electricity subsidies and two devaluations of the naira since President Bola Tinubu assumed office last year. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

UN Report Reveals Secret Deployment of 4,000 Rwandan Troops in Eastern Congo Facebook X (Twitter) WhatsApp Copy link Ayize claire Jun 26, 2024 Drone Footage Revealing New Incursion By Rwanda Defence Force on Congo's soil In Support of M23 A recent United Nations report has disclosed that up to 4,000 Rwandan troops, equipped with advanced weaponry, have covertly crossed into eastern Congo. Their involvement in the conflict, supporting the M23 rebel militia, has exacerbated a severe humanitarian crisis. The fighting has led to the displacement of at least a million people over the past nine months, with many seeking refuge in overcrowded camps around the city of Goma, near the Rwandan border. The report, yet to be officially published, highlights that Rwanda's actions breach Congo's sovereignty and a UN arms embargo. The UN experts estimate that the Rwandan forces might now outnumber the M23 fighters, which stand at about 3,000. The Rwandan Defence Force (RDF) has taken key military positions, including around the strategic town of Sake, playing a pivotal role in encircling Goma and expanding rebel-controlled territory by 70% since November. Despite international calls from Western governments , including the US, France, Belgium, and the EU, for Rwanda to withdraw its troops, the Rwandan government has denied any military presence in Congo. The UN report, however, presents extensive evidence, including video footage and witness testimonies, of Rwandan troop activities in the region. The conflict has caused significant casualties and displacement, with the Rwandan-backed M23 rebels seizing control of vital mining areas, including those rich in coltan, a key component in electronics. This has led to increased mineral smuggling into Rwanda, which saw a 50% rise in coltan exports last year. In response, a multinational force from southern Africa has been deployed to support the Congolese military. However, they have faced challenges against the well-equipped M23 rebels, resulting in casualties among the South African forces. Rwanda's involvement in the mineral trade, including operating a gold refinery in Kigali with dubious tracing practices, further complicates the region's stability. The Congolese government estimates a loss of approximately $1 billion annually due to mineral smuggling, predominantly to Rwanda. The UN's findings underscore the urgent need for international intervention to address the escalating crisis and restore stability in the region. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024