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Africa in the news: Audit reveals depth of Mozambique’s debt, Nigeria launches tax amnesty program, and Ethiopian Airlines grows its fleet

Africa in the news: Audit reveals depth of Mozambique’s debt, Nigeria launches tax amnesty program, and Ethiopian Airlines grows its fleet
Written by Chester Green on 2017-07-01


Kroll, an independent auditing firm hired to investigate Mozambique’s state loans, presented a report on Saturday, June 24, detailing the extent and nature of the country’s debt. It found that more than a quarter of the $2 billion in secret loans the government took out in 2013 and 2014 with lenders Credit Suisse and Russian investment bank VBT Capital—ostensibly to set up a state-sponsored...(Read More)

Africa in the news: Nigeria introduces new foreign exchange window, U.S. Defense Secretary visits Djibouti, and Burundi denies access to WFP convoy

Africa in the news: Nigeria introduces new foreign exchange window, U.S. Defense Secretary visits Djibouti, and Burundi denies access to WFP convoy
Written by Chester Green on 2017-04-30


On Monday, the Central Bank of Nigeria introduced a new window for investors and exporters to engage in foreign exchange trading. The platform—called the Investors’ and Exporters’ FX Window—aims to boost the availability of U.S. dollars in the economy. The window allows sellers and buyers to conduct currency trades via phone at rates determined by the market, falling between the official...(Read More)

Africa in the News: IMF and the World Bank revise Africa’s economic outlook, U.S. Senators Corker and Coons visit Uganda, and Kenya implements polit

Africa in the News: IMF and the World Bank revise Africa’s economic outlook, U.S. Senators Corker and Coons visit Uganda, and Kenya implements polit
Written by Chester Green on 2017-04-21


Tuesday morning, the International Monetary Fund released its flagship report, World Economic Outlook, April 2017: Gaining Momentum?. The report forecasts an increase in global economic growth from 3.1 percent to 3.5 percent in 2017 and 3.6 percent in 2018. The report attributes the upsurge in economic activity to an increase in trade and manufacturing, and buoyant financial markets. Developing nations...(Read More)

Africa in the news: Guterres visits East Africa while South Sudan increases NGO fees, Lesotho parliament dissolved, Somalia to print new banknotes

Africa in the news: Guterres visits East Africa while South Sudan increases NGO fees, Lesotho parliament dissolved, Somalia to print new banknotes
Written by Chester Green on 2017-03-10


This week, United Nations Secretary-General António Guterres visited East Africa, his first trip to the continent since taking office in January. Mogadishu was the first stop on the trip, where he met with Somalia’s recently elected President Mohamed Abdullahi Mohamed. During the visit, the U.N. chief appealed for the sum of $825 million in order help alleviate the country’s humanitarian crisis—a...(Read More)

Africa in the news: Nigeria sells eurobond, Kenyan doctors continue to strike, and Trump contacts Nigeria and South Africa

Africa in the news: Nigeria sells eurobond, Kenyan doctors continue to strike, and Trump contacts Nigeria and South Africa
Written by Chester Green on 2017-02-19


Last Thursday marked Nigeria’s return to the eurobond market after a four-year hiatus. The 15-year $1 billion eurobond, rated B by Standard & Poor’s and B+ by Fitch, was priced at 7.875 percent, above the government target of 7.5 percent. The bond was nearly eight times oversubscribed, receiving bids of $7.8 billion. The oversubscription shows the high interest in Nigeria’s debt, despite...(Read More)

Foresight Africa 2017: Election spotlight on Kenya

Foresight Africa 2017: Election spotlight on Kenya
Written by Chester Green on 2017-02-02


Recent peaceful post-election regime changes in Sub-Saharan Africa augur well for the deepening and institutionalization of democracy in the continent. However, that has not been true everywhere: For example, Gabon’s 2016 closely fought (and somewhat suspicious) presidential election in which the opposition candidate lost by only 6,000 votes produced massive post-election violence. In 2017, two...(Read More)

Does climate change cause conflict?

Does climate change cause conflict?
Written by Chester Green on 2017-01-20


A research paper, “Warming increases the risk of civil war in Africa,” presented to the U.S. National Academy of Sciences claims that temperature rises in Africa have coincided with significant increases in the likelihood of war.[1] U.N. Secretary-General Ban Ki-moon has described the conflict in Darfur as the world’s first climate change conflict.[2] The assumption is that water scarcity...(Read More)

Africa in the news: Jammeh withdraws concession, OPEC exempts Nigeria, and Zambia weighs eurobond refinancing

Africa in the news: Jammeh withdraws concession, OPEC exempts Nigeria, and Zambia weighs eurobond refinancing
Written by Chester Green on 2016-12-16


Late Friday, December 9, President Yahya Jammeh of The Gambia withdrew his concession of the presidential elections held just the week before. Refusing to step down from his now 22 years in power, Jammeh claimed there were “serious and unacceptable abnormalities” in the election and called for “fresh and transparent elections.” Already, the capital Banjul—in particular the electoral commission...(Read More)

Figures of the week: Africa Industrialization Day

Figures of the week: Africa Industrialization Day
Written by Chester Green on 2016-11-25


Sunday, November 20, marked the United Nations’ “Africa Industrialization Day,” a day created to “mobilize the commitment of the international community to the industrialization of Africa.” This week, we take a look at the state of industrialization in sub-Saharan Africa, the lagged growth of the sector, the relative importance of industry for African development, and the solutions in place...(Read More)





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