There is fire in Khartoum...

Howdy.

Good morning.

Trust you are good.

Feel good I am keeping my promise.

Thanks to you all for inspiring me loads.

Let’s pray. I can hear Asa’ song at the background,?

There is fire on the mountain. Everybody is running (my version)

There is fire in Khartoum, the capital city of Sudan.

A case of two friends-turned-sworn enemies. Frenemies? Maybe. Tension has been brewing for a bit between Sudan’s Army and the rival paramilitary Rapid Support Forces (RSF). The two had worked together to oust the Islamist autocratic civilian government of Omar al-Bashir in 2021.?

The tension peaked when an internationally-backed plan to form a transition government with political parties. CNN reports that under the new arrangement, both the Army and the RSF were required to cede power. But two issues proved knotty: one was the timetable for the RSF to be integrated into the regular army and two, the timeline for which the army would be placed under the oversight of the civilian government.

The influx of international intermediaries

The war may pave the way for either the US or Russia and China- two countries that have been rivalling the US for influence in the region. That said, the United States is backing the formation of the transition government and had withdrawn financial support following the coup.?

The formation of a transition government is music to the ears of Saudi Arabia and the United Arab Emirates. They see the ouster of Oman as a way of rolling back Ismalist rule and restoring normalcy to the country again.

Russia is proposing a naval base on the Red Sea, while many UAE companies are interested in investing in the project.?

That being said, Sudanese are the ones bearing the consequence, 20,000 have fled to Chad while another 10,000 have made their way to South Sudan. At least 512 people have died and 4,200 injured, reports the BCC.?

You can read more here??

Away from bad news, some good news in Morocco.

Maroc Telecom reported a 1.8% profit in the first quarter of 2023.?

This off-sets its poor performance at home where the company has not faired well.

Maroc Telecom (MT) said shareholder profit stands at USD 151 M (MAD 1.53 B), while the company’s consolidated revenues increased by 3.7 percent to USD 902 M (MAD 9.9 B).? MT operates in Benin Republic, Burkina Faso, Ivory Coast, Gabon, Mali, Mauritania, Niger, Chad, Togo, and the Central African Republic (CAR). The carrier has a customer base of 75 million.?

Please, check here for more.

Crypto? Bad news for Africa?

Africa is not finding cryptocurrency cool at all.

Though aficionados of the digital currency say it would revolutionize the economy in Africa through its decentralized and secure platform and facilitate seamless financial transactions. Plus the potential of boosting financial inclusion and reducing the cost of remittance costs.

As you are aware, Nigeria has banned crypto through its Central Bank. Needless, the #endsars protests grew on the wings of crypto. Kenya’s Central Bank has also issued a stern warning against the currency.

Meanwhile, Zimbabwe is travelling on a parallel street. The country, which is in a make-or-mar situation to rescue its economy, is embracing the prospects of crypto to help jumpstart its ailing economy. The Reserve Bank of Zimbabwe is planning to launch a gold-backed digital currency to be accepted as legal tender. It’s the first of many steps the country is taking to anchor the Zimbabwe dollar.

To read more, please check here.

I think we can chuckle and have some laughs now after a resounding Manchester City’s commanding win over Arsenal. But the Gunners including my big bro Dayo Faleye can’t.

I am a huge Manchester City, with two games in hand we are coasting home.

Up Cityzens,

See you around, next week.

Have a swell weekend.

I’ll see you in the new month.

Oyeniyi Faleye.