IMF eyes worrisome trends for sub-Saharan economies

IMF eyes worrisome trends for sub-Saharan economies

The latest International Monetary Fund forecast for sub-Saharan Africa calls for continued slow economic growth through 2022, with similar conditions next year —an outlook that remains highly uncertain, the IMF said. “Late last year, sub-Saharan Africa appeared to be on a strong recovery path out of a long pandemic,” said…

Uganda, Tanzania decry EU resolution on oil and gas development

Uganda, Tanzania decry EU resolution on oil and gas development

The governments of Uganda and Tanzania are pushing back against a resolution, passed by the European Union, that calls for environmental and human rights protections as the two nations develop the East African Crude Oil Pipeline (EACOP). The European Parliament resolution warns that the project threatens wetlands and water resources,…

Ahead of COP27, Gabon hosts Africa Climate Week

A high-level meeting in Gabon has African leaders focused on how the continent can provide solutions to the global climate crisis, with President Ali Bongo Ondimba welcoming ministers and delegates from 42 nations as well as United Nations representatives. “In less than three months, the UN Climate Change conference will…

Ghana makes its case for IMF deal as economy woes drive protests

Ghanaian politicians took to the airwaves on Monday, defending their decision to work toward an International Monetary Fund financing deal in order to pull out a country mired in economic crisis. “Times are hard globally and locally too,” said information minister Kojo Oppong Nkrumah, in one of several media interviews…

Opposition grows to Ghana’s Agyapa gold deal

Civil society organizations in Ghana are stepping up their opposition to the Agyapa Royalties deal advanced by President Nana Akufo-Addo, which would set up an offshore company in the Channel Island tax haven of Jersey. The deal, approved by parliament in 2018, was established by the Minerals Income Investment Fund…

Nigeria’s energy sector eyes European markets at Spain forum

Nigeria is promoting its oil and gas industry during President Buhari’s state visit to Spain, a move that comes as European nations seek to secure resources to replace the now-banned imports of Russian oil. Buhari and representatives of the Nigerian National Petroleum Corporation (NNPC) have highlighted Nigeria’s energy sector during…

Southern Angola’s severe drought drives migration into Namibia

People living in southern Angola are experiencing the worst drought in 40 years, with many crossing the border into Namibia in search of resources and relief after consecutive years of below-average rainfall affecting their crops. The International Federation of the Red Cross (IFRC) says the Angolan provinces of Huila, Cunene…

SA floods claim 259 lives, shut down port of Durban

Catastrophic flooding that followed heavy rains in the South African province of KwaZulu-Natal has claimed at least 259 lives, according to the disaster management agency leading the emergency response. The rains that began late Monday swamped roadways, stressed dams, and brought towering walls of mud and water down on the…