Zimbabwe Launches Gold Coins To Combat Inflation

Zimbabwe has launched gold coins to be sold to the public in a bid to control the soaring inflation that has considerably weakened the local currency. The unprecedented move was announced on Monday by the country’s central bank, the Reserve Bank of Zimbabwe (RBZ). RBZ announced on Monday, 4 July 2022 that it plans to sell gold coins to the public from July 25 as a store of value to stabilise the nation’s tumbling currency...

Paul Kagame ‘Considers’ Ruling Rwanda For Another 20 Years

Paul Kagame, the president of Rwanda, has said he would consider remaining in office for another 20 years. Kagame, who modified the Rwandan constitution in 2015, allowing him to remain in office till 2034, made this known in a recent interview with France 24. “I would consider running for another 20 years. I have no problem with that. Elections are about people choosing,” he responded when asked if he would seek re-election in 2024. His decision...

Mozambique’s Reversal of Fortune

Mozambique is at a moment of peak international leverage, but faces significant domestic challenges. Just a year ago, the news from Mozambique was rather glum. The security crisis in the northern region of Cabo Delgado had displaced hundreds of thousands of people, created a humanitarian crisis, prompted regional alarm about the potential for extremists to export insecurity to Mozambique’s neighbors, and even led French oil giant Total to declare force majeure on its massive natural gas investment...

African Development Bank Secures Additional €3.5 million For The Abidjan- Lagos Highway Project

Chief Transport Economist, African Development Bank (AfDB), Lydie Ehouman has said that the bank has been able to secure an agreement for additional €3.5 million for the Abidjan- Lagos highway project. The Economic Community of West African States, ECOWAS project is aimed at creating a corridor of road linking five countries in the region. The countries are Nigeria, Benin Repulic, Cote d’Ivore, Togo and Ghana. The road when completed is expected to benefit 40 million...

Trouble Ahead in Zimbabwe

Zimbabwe’s worsening social, political, and economic landscape means trouble for the Southern Africa subregion. Conditions for the people of Zimbabwe continue to go from bad to worse. Triple-digit inflation shows no signs of slowing.  Over half of the country lives in poverty.  Its corrupt government lurches from disinterest in the population’s pain to rosy projections for growth based on pure fantasy to clumsy interventions like the recent short-lived edict banning banks from lending. Politically, the merger...

Africa Will Feed Itself with Pride – Akinwumi Adesina

The African Development Bank (AfDB) has announced the approval of a $1.5 billion emergency programme to alleviate the effect of worsening food insecurity as a result of the Russia/Ukraine War, this was revealed by its director on Monday. About 20 million farmers on the continent will benefit from the fund as Africa faces a shortage of at least 30 million metric tonnes of food, especially wheat, maize, and soybeans imported from Russia and Ukraine. “The US$1.5...

OPINION: The Horn of Africa’s Dubious Dialogues

The dialogues in the Horn of Africa inspire little confidence to resolve the region’s crises while U.S. diplomatic efforts seem insufficient in an area of strategic interest. It’s a matter of conventional wisdom that the crises gripping the Horn of Africa are fundamentally political, and that viable, sustainable solutions can be found only through inclusive political dialogue. But in both Sudan and Ethiopia, current dialogues—one internationally-backed and one a domestic project—inspire little confidence. The United...

OPINION: A Stronger U.S.-Tanzania Relationship Would Be Mutually Beneficial

President Hassan’s emphasis on economic growth and political liberalization in Tanzania are especially compelling to the United States in the context of a generally troubled East Africa. Tanzania’s President Samia Suluhu Hassan made the most of her recent trip to the United States, signaling a desire for an improved relationship and deeper bilateral economic ties. Given U.S. interests in a peaceful, prosperous, and democratic East Africa, and the worrying trends in the region, her charm offensive should...

OPINION: Africa Must Be Wary of Cutting Its Nose to Spite Its Face

African countries’ justifiable disaffection with the West should not override their commitment to Ukraine and liberal values. There is nothing quite like a war when it comes to resurrecting old grudges, and in this regard, the Russia-Ukraine conflict has hardly disappointed. Invoking historical rough justice and persistent infantilization by the West, African countries have, to widespread astonishment, refused to give full-throated backing to Western sanctions against Russia. Seventeen of the thirty-five abstainers from the United...

OPINION: The EAC’s Challenges in Eastern Congo

As the DRC becomes the newest member of the East African Community,  the regional organization confronts multiple challenges in its effort to tackle insecurity in eastern Congo. The East African Community (EAC) wasted no time in wading into the complex and murky security issues bedeviling its newest member, the Democratic Republic of the Congo (DRC). The DRC, which is also a member of the Southern African Development Community (SADC) and the Common Market for Eastern...

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