Sudan: Ceasefire Takes Effect But Fighting Erupts
The most recent attempt at peace in Sudan has been put in jeopardy as fighting erupted in parts of the capital, Khartoum, just one week into a ceasefire. According to residents, artillery fire could be heard, and armoured vehicles and warplanes were seen patrolling the area. The ceasefire brought hope that the warring factions in Sudan might finally halt their fighting. However, the latest outbreak of violence has increased tensions once again.
Ethiopia: Protesters in Tigray Demand Withdrawal of Outside Forces
Protesters in Ethiopia’s Tigray region are demanding the removal of outside military forces. The area has been a hotbed of conflict since November 2020 when fighting broke out between the regional government forces and the Ethiopian military. The protesters are calling for the removal of Eritrean, Amhara, and Ethiopian troops, which they say are responsible for human rights abuses and violence against civilians.
South Africa: Rand Steady After Mini-Recovery
The South African rand has stabilized after a recent mini-recovery. The currency has been volatile due to political and economic uncertainty, including the upcoming local elections in October and ongoing concerns about the country’s debt levels. The rand has been steadily losing value against the US dollar, prompting many investors to look for safer investments elsewhere.
Mali: War Crimes Perpetrator on Trial at ICC
The International Criminal Court (ICC) in The Hague has heard that rebels in Mali’s Azawad region committed war crimes, including mass murder, looting, and rape. Rebel leader Al Hassan Ag Abdoul Aziz Ag Mohamed Ag Mahmoud is on trial at the ICC, where prosecutors allege that he was an enthusiastic perpetrator of these crimes. The case is significant for Mali and for the ICC, which is aiming to bring justice to victims of crimes committed during the ongoing conflict in the country.
Mozambique: TotalEnergies Prepares for LNG Restart
Energy company TotalEnergies is preparing to restart production at its liquid natural gas (LNG) facility in Mozambique after a two-year delay. The country’s LNG industry has struggled with militant attacks and COVID-19-related disruptions. However, TotalEnergies is optimistic about the facility’s restart, which could bring much-needed investment and jobs to the region.
World: World Bank Seeks Grants and New Capital to Fight Global Crises
The World Bank is seeking new grants and capital to fight global crises, including climate change and the COVID-19 pandemic. The organization aims to raise $60 billion to address urgent global challenges, including water scarcity and food insecurity. Additionally, the World Bank wants to encourage countries to transition to a low-carbon economy, helping to prevent irreversible damage to the planet.
Ghana: Ashmore and GMO Join Ghana Bondholder Group Steering Committee
Asset managers Ashmore and GMO have joined the steering committee of Ghana’s international bondholders as the West African country’s debt restructuring efforts gather pace. Ghana has been struggling with mounting debt levels, and the management of its bond repayments is a key issue. The country is currently trying to restructure its international bonds to ease its financial burden and avoid default.
Kenya: Tullow Oil’s Partners Withdraw from Lokichar Oilfield
Tullow Oil’s partners in Kenya’s Lokichar oilfield have withdrawn from the project. The move is a significant setback for Tullow, which has been working to develop the field for more than a decade. The withdrawal of the project’s partners is due to increased financial pressure and challenging market conditions. The oilfield had been seen as a significant source of potential revenue for Kenya.
Ukraine: Peace Plans Proliferate as Country Courts Africa
As Ukraine attempts to settle the ongoing conflict in its eastern regions, the country is looking to Africa for peace deals and negotiations. Ukraine has been courting African governments for support in its fight against Russia, which has been accused of supporting separatist groups in Ukraine. Meanwhile, peace plans are proliferating, with various initiatives aimed at ending the violence in Ukraine’s Donbass region.
Russia: Fighting Continues in Belgorod Region
Russia is maintaining a counter-terrorism operation in the Belgorod region after a raid by Ukrainians. The raid sparked a fierce firefight, leaving several people dead. The region has been the site of frequent clashes and insurgency activity, as well as a key transit route for arms smuggling and other illegal activities. The situation in the region remains tense, with both sides accusing the other of aggression and provocation.
Global: Watchdog Proposes First Set of Global Rules for Crypto Sector
A financial watchdog has proposed the first set of global rules for the crypto sector. The move is aimed at increasing transparency and accountability in the rapidly expanding digital asset market. The rules would require crypto exchanges and other businesses to comply with anti-money laundering and counterterrorism financing requirements. The proposed regulations will be open to public consultation before being finalized.
Global: Markets Nervous on Fed Ceiling Uncertainty
The global markets are nervous about uncertainty surrounding the US federal debt ceiling. Concerns about whether the US government will be able to pay its debts have caused jitters among investors, resulting in rising bond yields and a stronger US dollar. Analysts warn that failure to raise the debt ceiling could have significant consequences for the global economy, including a potential recession.
Global: Oil Prices Rise on Outlook for Higher Gasoline Demand and Tighter Supply
Oil prices have risen due to increased demand for gasoline and a tighter supply in the global market. The rise in prices is due to an ongoing decline in crude oil inventories and rising tensions in the Middle East. The situation is causing concerns about energy security, particularly in Europe, which depends heavily on imported oil. Analysts warn that the
African Boulevard News – (2023-05-23)
