Welcome to our African Weekly Roundup, where we bring you the most impactful news, deep-dive analysis and consultancy opportunities from across Africa. Here’s a snapshot of the key events from this week:?
- ???? July 19, 2024 | Kenya president retains 6 former Cabinet ministers in first batch of appointments: Kenyan President William Ruto has appointed the first 11 members of his new Cabinet, retaining six former ministers in key portfolios like defense and interior. This follows a major reshuffle aimed at addressing the issues that led to monthlong protests over new taxes and bad governance. Demonstrators, demanding a fresh start, have accused the former ministers of incompetence and corruption, and criticized the interior ministry for the deadly crackdown on protesters. Read more on AP
- ???? July 18, 2024 | South Africa's calm opening of parliament heralds new era:? South Africa's parliament opened in a calm and orderly manner, marking a new era of political maturity under President Cyril Ramaphosa's coalition government. For the first time since the African National Congress (ANC) failed to secure a majority, the proceedings were free of interruptions and chaos. President Ramaphosa outlined plans for economic growth, job creation, and tackling high living costs, emphasizing unity and cooperation among the coalition's diverse parties. Read more on BBC
- ???? July 17, 2024 | Nigeria's president asks lawmakers to approve extra $4 billion in spending: Nigeria's President Bola Tinubu has requested Senate approval for an additional 6.2 trillion naira ($4 billion) in spending to address budget shortfalls, focusing on capital infrastructure, education, healthcare, and welfare initiatives. The request aligns with the "Accelerated Stabilisation and Advancement Plan" aimed at boosting economic growth despite recent reforms that have led to increased living costs and inflation. Tinubu also proposed a one-off windfall tax on banks' foreign exchange gains and has asked his economic team to prepare a 2 trillion naira stimulus plan to address food supply concerns and support key sectors like energy and health. Read more on Reuters
- ???????? July 17, 2024 | UAE lifts 2022 visa ban on Nigerians : The United Arab Emirates has lifted its 21-month visa ban on Nigerians, which had been in place since October 2022. This decision follows successful negotiations between the two governments, resulting in updated controls and conditions for Nigerian travelers, such as submitting documents for identity verification and travel history. The ban, originally due to allegations of improper conduct and visa rule circumvention, had led to a significant reduction in Emirates Airlines' flights to Nigeria and a suspension of operations. However, with the resumption of diplomatic efforts under Nigeria’s President Bola Tinubu, Emirates has announced plans to restart daily flights between Lagos and Dubai in October 2024. Read more on Africanews
- ???? July 16, 2024 | Rwanda’s Kagame on track for fourth presidential term: Provisional results: Rwanda's President Paul Kagame is on track for a fourth term, with provisional results showing him winning more than 99 percent of the vote, according to the National Electoral Commission. With 79 percent of ballots counted, Kagame's nearest challengers, Frank Habineza of the Democratic Green Party of Rwanda and independent Philippe Mpayimana, received 0.53 percent and 0.32 percent of the vote, respectively. The full provisional results are expected by July 20, and final results by July 27. Kagame, who has been Rwanda's de facto leader for three decades, thanked voters and emphasized the trust reflected in the results. Read more on Aljazeera
- Support for democracy in Africa falls amid military coups and corruption | Support for democracy in Africa has declined amid a wave of military coups and dissatisfaction with corruption and governance issues, according to a report by Afrobarometer. Despite this decline, a strong preference for democratic governance remains, with two-thirds of respondents in 30 African countries favoring democracy, although this is down seven percentage points from a decade ago. The surveys revealed that the discontent is largely due to declining election quality, increasing corruption, and poor socioeconomic performance, with the biggest falls in support observed in South Africa and Mali. Read more on The Guardian
- African countries with the highest foreign direct investment | In 2023, several African countries stood out for attracting substantial foreign direct investment (FDI), despite a global drop in FDI due to economic slowdowns and geopolitical tensions. Despite Egypt experiencing a decrease from $11.4 billion in 2022, it still led the continent in FDI inflows. South Africa also saw a significant drop from $9.2 billion in 2022. The overall trend highlighted that European investors remain the largest holders of FDI stock in Africa, with the United Kingdom, France, and the Netherlands being the top investors. The data underscores the importance of FDI for economic growth in these countries and highlights the varying attractiveness of different African nations to foreign investors based on their unique advantages. Read more on Business Insider Africa
??? Which story do you think will have the biggest impact on the continent in the weeks and months to come? Feel free to share your insights in the comments below. ??
