Corporate Council on Africa’s latest news

(Posted 07th July 2022)

U.S.-AFRICA RELATIONS
U.S. endorses regional action to end conflict in DRC
The East African
The US government has hailed Kenya’s President Uhuru Kenyatta for getting DR Congo and Rwanda to a meeting last week, saying it could ease tensions between the two neighbors…. Read more>>

AGRIBUSINESS
Lean times for Ghana’s yam traders as cost-of-living crisis bites
The Guardian
People are buying less, costs are up, and profits are dwindling for traders at Kaneshi market in Accra…. Read more>>

Worst drought in 40 years risks new conflicts, Uhuru tell Igad
The Star
More than 18 million people are food insecure due to drought, and more than seven million children face acute malnutrition…. Read more>>

ENERGY
British buyers seek Zimbabwean coal to plug energy supply gaps
The Africa Report
The European Union (EU) has stated that it would be prioritizing Nigeria, Mozambique, Angola, and Senegal in its bid to fast-tracking energy transition into renewables on the continent… Read more>>

Fuel prices in Tanzania rise despite subsidies
The East African
Tanzanians are bracing for tougher times ahead as fuel prices across the country rose with effect from Wednesday, despite government subsidies…. Read more>>

Powering Africa: Solar set to overtake hydo in 7 years
Nation
Photovoltaic (PV) solar is forecast to overtake hydropower as the biggest source of renewables in Africa by 2030, driving the continent’s pivot to a climate-neutral economy…. Read more>>

How the world depends on small cobalt miners
The Economist
The metal is key to the global energy transition. But its artisanal market is broken… Read more>>

HEALTH
Monkeypox cases triple in Europe, WHO says, Africa concerned
AP News
The World Health Organization’s Europe chief warned Friday that monkeypox cases in the region have tripled in the last two weeks and urged countries to do more to ensure the previously rare disease does not become entrenched on the continent….. Read more>>

DR Congo Drug Manufacturing Plan Sparks Safety Concerns
Barrons
 government plan to require hospitals and NGOs to buy more locally produced drugs could soon boost the fledgling pharmaceutical industry — despite fears in some quarters that safety standards are far below international norms….. Read more>>


INFRASTRUCTURE
IMF Sending Team to Ghana to Start Aid Talks
Barons
The IMF will send a team to Ghana this week to begin talks on a possible loan program for the West African nation, the fund announced Tuesday…. Read more>>

Ghana Says it may seek as much as $1.5 Billion from IMF
Bloomberg
Ghana may seek as much as $1.5 billion from the International Monetary Fund to shore up its finances and win back access to the global capital markets…. Read more>>

Neglect Africa now and we will face labor shortages globally, IMF warns
The Guardian
The international community would be “playing with fire” if it failed to help Africa recover from Covid and the impact of the Ukraine war, the International Monetary Fund’s director for the continent has said…. Read more>>


ICT
Are Africans ready for WhatsApp banking?
QuartzAfrica
A handful of banks are growing the use of WhatsApp banking in African countries—but progress is slow, in part because people find mobile money and internet banking more convenient and secure…. Read more>>

Crypto is key to financial inclusion
Reuters
Cryptocurrencies are the solution to tackling financial exclusion in the Central African Republic, its President Faustin-Archange Touadera said on Sunday, citing the cost of opening bank accounts….. Read more>>


TOURISM
Gambia signs $68 million World Bank grant to revive tourism
Reuters
Gambia and the World Bank signed a $68 million grant on Tuesday to revive the ocean-facing West African country’s tourism sector, representatives of both parties announced at a ceremony….. Read more>>

South Africa’s Travel & Tourism’s growth to outpace the national economy for the next 10 years
Hospitality Net
The World Travel & Tourism Council has revealed the South African Travel & Tourism’s GDP will drive the national economic recovery over the next decade…. Read more>>

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