Business and Finance

The Diplomatic Dance: Zuma’s Controversial Endorsement of Morocco’s Claim Over Western Sahara Former South African President Jacob Zuma’s recent visit to Rabat has ignited fresh debate over the sensitive and long-standing issue of Western Sahara's status. By endorsing Morocco's claim of sovereignty over the region—as an autonomous area—Zuma has taken a surprising turn from his previous position, raising questions about motives and the implications for broader African unity. A Shifting Paradigm Once a staunch advocate for…

The Fragile Fabric of African Trade: AGOA at a Crossroads As the sun rises on the bustling markets of Nairobi and the vibrant streets of Johannesburg, a shadow looms over the economic prospects of sub-Saharan Africa. This unease derives not from the rhythmic dance of local entrepreneurs or the vibrant colors of fresh produce but from an evolving political landscape in Washington, D.C. President Donald Trump’s recent decisions to cut vital aid to Africa and impose new tariffs on exports have raised alarm bells, rekindling…

The head of Ethiopia Electric Power, Asheber Balcha, recently expressed concerns over Egypt's actions regarding the Grand Ethiopian Renaissance Dam (GERD), the largest hydroelectric project in Africa. Balcha accused Egypt of "scrambling to create hurdles" just as the dam nears its operational launch—a project deeply tied to the Nile River, a vital water source for Egypt and its neighbors. This statement comes at a time of escalating diplomatic tensions in the region. While visiting Uganda, the Egyptian foreign minister…

In a bold move, Eskom has put forth a proposal to raise electricity tariffs by a staggering 36%, set to launch in April 2025. This ambitious plan, pending approval from the National Energy Regulator of South Africa (Nersa), includes further hikes: an 11.81% increase for the 2026/27 fiscal year, followed by another 9.10% jump in 2027/28. These proposed increases threaten to significantly tighten the grip on household budgets and overall living expenses. Reactions have been swift and severe. The Democratic Alliance (DA),…

In a groundbreaking move, South Africa has stepped into the G20 presidency, marking a historic milestone as the first African nation to take the helm of this influential assembly of countries. The upcoming term is set to officially kick off on December 1, 2024, and will extend for a full calendar year. President Cyril Ramaphosa expressed his profound gratitude upon receiving the presidency from Brazil during the G20 summit held in the vibrant city of Rio de Janeiro. “I stand here humbled and honored to accept the G20…

Ghana is grappling with the severe repercussions of illegal mining, commonly referred to as Galamsey. This rampant activity, primarily conducted by small-scale miners, is taking place across countless sites, igniting widespread protests and prompting the military to take action against it. As a key player in the global gold and cocoa markets, Ghana is feeling the pinch, as land degradation from these mining operations is significantly affecting agricultural productivity. Despite the apparent environmental hazards and…

António Guterres, the Secretary-General of the United Nations, has called on G20 leaders to tackle the pressing crisis of global hunger, a plight afflicting one out of every eleven individuals around the globe last year. This plea comes amid alarm over rising food insecurity, worsened by a medley of conflicts, climate change, and economic inequalities. South Africa's President Cyril Ramaphosa has also chimed in, pushing global leaders to ramp up efforts to eradicate poverty and hunger. "Achieving gender equality is vital.…

In a significant move, Resolute Mining, an Australian-based company, has agreed to pay a hefty sum of $160 million to the Malian government in a bid to settle an ongoing tax dispute. This decision comes on the heels of a troubling incident where Mali's authorities detained the company’s CEO, Terence Holohan, along with two other staff members during their trip to Bamako for what was supposed to be routine negotiations with the current regime. As tensions rise, the spotlight on foreign mining operations in Mali grows ever…

A collaborative effort among various firms has welcomed the arrival of the initial set of 275 container wagons, designed to boost the transport capabilities of the Lobito Corridor project. This ambitious railway initiative stretches from Angola's Lobito port, reaching into the Democratic Republic of Congo and extending to Zambia. Unveiled in 2023 as part of the G7 Partnership for Global Infrastructure and Investment, this corridor is backed by both the United States and the European Union. Once fully operational, it…

The task force known as Operation Vala Umgodi, part of the South African Police Service operating in the North West province, has reiterated its plea for illegal miners who remain underground to resurface. Currently, law enforcement is engaged in a tense standoff with a significant number of illegal miners who find themselves stuck in an abandoned mining shaft. In response to the situation, police have effectively sealed off the entry points that these miners use to bring in supplies. As a result, these individuals are now…