BRICS builds bridges
Hi there ????
All eyes are on South Africa as the leaders of Brazil, India and China descended on Johannesburg for the 15th BRICS summit, which runs from 22-24 August. Russia’s President Putin opted to attend virtually, saving South Africa from a diplomatic quagmire over a pending International Criminal Court arrest warrant. Putin is instead being represented by Russia’s Foreign Minister Sergei Lavrov. Two key issues on the agenda are bloc expansion and economic integration, driven by plans to boost spending and lending in local currencies, in a bid to circumvent the dominance of the US dollar. The BRICS alliance is currently a hot commodity across the Global South, with some 20 countries officially applying to join, and a similar number enquiring informally. While a shared mission to seek alternative diplomatic and trade alliances has unified the BRICS group thus far, the vast differences in the core members’ political and economic priorities are likely to complicate efforts to broaden the membership of this exclusive club. Russia and China are seeking to grow the organisation as a counterweight to US influence, while Brazil, India and South Africa are wary of diluting their influence and overtly opposing America, preferring instead to maintain strategic relationships with all global powers.?
Yours in VIP relationship building,
AP editorial team
???LIBERALISATION LIVE WIRE
Ethiopia’s telecoms sector liberalisation reached a historic milestone with M-Pesa’s launch on 16 August. Associate Consultant Jasmine Okorougo and Associate Director Tewodros Sile?explore ?the hurdles international investors face during market entry in Africa’s fifth-largest economy.
???17 BILLION
At the 43rd SADC Summit on 17 August, the bloc approved a?USD 17 billion ?natural gas infrastructure plan to bolster regional energy security. While Southern Africa has not historically been regarded as a major player in natural gas, Angola is a major exporter and Sasol has long imported gas by pipeline from southern Mozambique. Meanwhile, Tanzania, Mozambique, Namibia and South Africa are all looking to develop major offshore projects, with one eye on regional offtakers.
?????ZIM DECIDES
Zimbabweans head to the polls today in an electoral contest dominated by ZANU-PF incumbent Emmerson Mnangagwa and leader of the opposition Citizens’ Coalition for Change (CCC) Nelson Chamisa. In the 2018 election, Mnangagwa officially secured a narrow win, with 50.8% of the vote, but accusations of rigging saw the army turn on citizens,?killing ?at least six and leaving Zimbabwe’s credibility in tatters. The victor needs to secure over 50%, otherwise a run-off will be held on 2 October. The run-up to this year’s vote has been fraught with court?challenges , opposition?oppression ?and an?erosion ?of?civil society ?space. Watchdogs have also?flagged ?issues undermining electoral transparency, including changes to eligibility of candidates, voter registration and boundary delimitation. Against a backdrop of increasing authoritarianism and soaring?inflation , citizens may have had enough of Mnangagwa and ZANU-PF, but this is unlikely to be reflected in the declared results.
?????D-DAY
The Economic Community of West African States (ECOWAS) has?rejected ?a proposal by Niger’s junta to hold democratic elections within three years. The putschists put forward their transition plan as the effects of economic sanctions continue to be felt in the country, which has?suffered ?from rolling blackouts since Nigeria cut power earlier this month. ECOWAS has remained steadfast in its demands that the junta release President Bazoum and restore constitutional order, revealing that it has set a ‘D-day’ for some form of military intervention. Meanwhile, the juntas of Burkina Faso and Mali have?deployed ?war planes to Niger, with Burkina Faso’s government stating its willingness to leave ECOWAS in the event of a military intervention.
?????WORK PERMITTING
The Cameroonian government has?suspended ?the contracts of thousands of foreign workers previously authorised to mine gold and export timber from the eastern region along the border with the Central African Republic. As a result, close to 10,500 foreign workers lacking work permits must leave or formalise their presence within a month. There is little evidence that expatriates are passing on their skills to locals – an issue that Employment Minister Issa Tchiroma Bakary is keen to address. Bakary is now pushing for increased accountability within firms and tightening the framework that allows expatriates to work in Cameroon in the hope that the local workforce will benefit.?
?????PLEDGE RENEGED
The Kenyan government plans to step back from a fuel-import credit scheme negotiated with Gulf nations after the IMF expressed concerns over currency-related costs. Publicised as a government-to-government deal intended to?reduce ?local demand for dollars, the Treasury is now looking for the private sector to lead transactions, while claiming that previously issued letters of comfort?do not ?amount to government guarantees on private debt. Local oil marketers who?protested ?the deal are left in the fray, simultaneously facing?higher ?fuel prices and?unpaid ?compensation for the government’s fuel subsidy scheme which ended in May. The government’s plans to introduce a?new ?fuel subsidy scheme this month are likely to leave fuel marketers baffled, while upsetting the IMF.
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???FIRE EATER
European audiences are being treated to performances of “Isidlamlilo ” (The Fire Eater), a thought-provoking play delving into the life of a female apartheid-era assassin in South Africa. Crafted by acclaimed playwrights Neil Coppen and Mpume Mthombeni, the play, which debuted in Johannesburg this July, is on tour during August, taking in stops in the Netherlands, Germany and Switzerland. The story unfolds against the backdrop of political turmoil that gripped KwaZulu-Natal in the 1980s and ‘90s. Rooted in real-life stories from a Durban hostel, Isidlamlilo sheds light on female assassins in the ANC-IFP conflict, serving as testament to the power of research-based theatre.
???ZAN-GO FOR GOLD
Burkina Faso’s Hugues Fabrice Zango etched his name in history, securing his nation's inaugural gold medal at the?World Athletics Championships . In a groundbreaking feat, the 30-year-old triumphed in the triple jump with a leap of 17.64 metres during his fifth attempt in Budapest, Hungary. Zango, ranked second globally, had been on the cusp of gold for a while. He clinched bronze at the 2019 World Athletics Championships and followed it up with silver in the 2022 edition. Notably, he also earned bronze at the 2022 Tokyo Olympics. Zango's remarkable achievements extend to the indoor scene, where he set a new world record of 18.07 metres in the men's triple jump in 2021, erasing all prior records.
???BYTE-SIZE TECH: E-GOVERNANCE HURDLES
Last month’s?cyber-attack ?on over 5,000 public services in Kenya highlights the vulnerability of personal data in the context of ambitious digitisation?efforts . While officials?assure ?that no data was compromised, the incident underscores the urgency for substantial investments in cybersecurity infrastructure as African nations?establish ?the foundations for e-governance. Continent-wide efforts to improve access to public services through digitisation brings home the need for a comprehensive approach with supportive frameworks, fortified systems and multistakeholder partnerships as envisioned under the?Malabo Convention . As digital transformation converges with cybersecurity, a careful balance is imperative to ensure progress while protecting critical infrastructure.
????FUJI MUSIC
The Africa Centre in London presents an?exhibition ?showcasing the influential Nigerian fuji music genre from 18-28 August. The exhibition captures the genre's history through untold archival footage, artefacts and audio installations. It explores a subculture narrative spanning six decades, assessing fuji’s roots in Yoruba-Muslim communities. Against the backdrop of Nigerian artists' current global success, the exhibition delves into the origins of a genre that has had a profound impact on today's music industry.
???2024 MANDELA WASHINGTON FELLOWSHIP
The Mandela Washington Fellowship will bring up to 700 young African leaders to the US in the summer of 2024 for a comprehensive executive-style programme designed to build skills and empower Fellows to lead in their respective sectors and communities. Applicants must be between the ages of 25-35.?Deadline ?is 12 September.?
???AND AFTER MANY DAYS – JOWHOR ILE
And After Many Days ?is set in Port Harcourt, Nigeria, during the rainy season of 1995. The story captures how the sudden vanishing of 17-year-old Paul Utu disrupted his family's life. Amidst police brutality, fuel scarcity and student protests, the story moves between past and present, showing how personal and political struggles shape a community and change its inhabitants’ lives.
???MORE VIBES MORE MONEY – MIDAS THE JAGABAN
Masked mystery Midas the Jagaban is back from an extended hiatus, gracing us with a glimpse from her upcoming project just in time for the end of summer in the Northern hemisphere. “More Vibes More Money” expands her signature Afroswing sound, joining the Amapiano craze with an addictive high-tempo drum pattern.
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Head of Finance at Vera Living. Chartered Accountant & Management Consultant
1 年It's been a busy week! ??