Namibia Scraps Plan to Force White-Owned Businesses to Sell 25% Stake to Blacks

Namibia Scraps Plan to Force White-Owned Businesses to Sell 25% Stake to Blacks Namibia has scrapped a clause in its economic empowerment framework that would have forced white businesses to sell a 25% stake to previously disadvantaged blacks, President Hage Geingob said on Wednesday. Making the announcement during his state of the nation address, Geingob said a revised…

$500 Million Belonging to World Airlines Trapped in Angola

Angola still owes more than $500 million to international airlines including Emirates, Deutsche Lufthansa AG and Air France-KLM, one of many items in the in-tray of new President Joao Lourenco as he tries to revive the economy. Africa’s second-biggest oil producer is withholding repatriation of the funds amid a persistent shortage of foreign-currency reserves, according to the International…

Nigeria Verges on Genocide Amid a New Wave of Brazen Attacks by Fulani Herdsmen

Since the start of the year, Nigerians have been served bloody reminders that Boko Haram is no longer the country’s biggest internal security threat. States in Nigeria’s middle belt have been rocked by attacks from suspected Fulani herdsmen in a new wave of violence which primarily stems from disputes over grazing areas for cattle. Attacks in villages…

World Cocoa Supply Suffers as Cameroonian Farmers Abandon Plantations Amid Dictator’s Crackdown

 Thousands of cocoa farmers have fled violence between separatists and security forces in Cameroon’s Southwest Region, which grows more than 100,000 tonnes of beans, nearly half of the country’s output, farmers and buyers told Reuters. They said the clashes could put a dent in output from the world’s fifth largest cocoa producer, which is already…

Zambia: Corruption, Creeping Authoritarianism and a Foreign Minister’s Resignation

Zambia’s foreign minister has announced his resignation in a scathing Facebook post, denouncing the country’s “path of insatiable greed and shame”. Henry Kalaba said his decision was prompted by the “swelling” levels of corruption “perpetrated by those who are expected to be the solution”. Analysts suspect the move is an attempt to pressure President Edgar…

Political Risks of Sudan’s 18% Devaluation its Pound Currency in January

Sudan is to devalue its currency to 18 Sudanese pounds per dollar in January from the current exchange rate of 6.7, the finance minister said on Tuesday. The International Monetary Fund (IMF) urged Sudan earlier this month to float its currency to boost growth and investment, but the government has ruled out a market-determined exchange…