Never AGOA-nna give you up!
Hello readers ????
The great and the good of the continent were in Washington DC last week for the African Growth and Opportunity Act (AGOA) annual forum. Alas, the meeting failed to generate any firm commitments concerning the renewal of the trade agreement, which is set to expire in September 2025. The forum was of crucial importance to South Africa, with the US-South Africa Bilateral Relations Review Act pending a vote in the Senate. New Trade Minister Parks Tau, accompanied by his deputy Andrew Whitfield, sought to reassure US counterparts of the country’s commitment to strengthening commercial ties. The duo hoped to reset US-SA relations after a period of tensions driven by Pretoria’s proximity to its BRICS allies, including ambiguity over Russia’s war in Ukraine. American interlocutors may be hoping that South Africa’s Government of National Unity will help to temper public opposition to US allies such as Israel, resulting in more moderate trade and foreign policy positions. Despite assurances from President Joe Biden that he seeks a speedy reauthorisation of AGOA, and similar commitments from US Secretary of State Antony Blinken, the reality is that America is already preoccupied with the presidential race, ahead of elections in November.?
Yours in preferential terms of trade,
AP editorial team
?? 2.3 billion
Mozambique won its case against the Emirati-Lebanese shipbuilder Privinvest relating to bribery in the “tuna bond” scandal. The High Court in London ruled "substantially in favour" of Mozambique, holding Privinvest liable for USD 2.3 billion worth of payments and indemnities. Of this sum, Mozambique will receive USD 825 million in damages from Privinvest and a USD 1.5 billion indemnity for the debts it contracted.
?? Sahelian strongmen have C?te d’Ivoire in their sights
Once a pivotal player in West Africa, C?te d’Ivoire is having to confront emerging challenges in its neighbourhood, driven by shifts in governance across the hinterland. Consultant Wendyam Lankoandé examines changing relations between C?te d’Ivoire and the military-led juntas of Burkina Faso, Mali and Niger.
???? Birr-ighter days?
On 29 July the National Bank of Ethiopia (NBE) announced a major overhaul of the country’s foreign exchange system. The central bank’s reforms aim to introduce a competitive, market-based exchange rate, addressing long-standing distortions, and reducing reliance on the black market amid dwindling forex reserves. The NBE will relinquish its control over the exchange rate, allowing market forces to determine the value of the Ethiopian birr. Ethiopia has faced severe challenges in recent years, including internal conflicts, infrastructure destruction, and humanitarian crises. Fiscal constraints have worsened, highlighted by dwindling forex reserves (around USD 1 billion – less than a month of import cover) and a thriving black market. The country also defaulted on its external debt in December 2023. However, the new exchange rate policy unlocked a USD 3.4 billion four-year IMF package, as well as support for debt restructuring under the G20’s Common Framework.?
???? Partied out
The African National Congress (ANC) confirmed the expulsion of former president Jacob Zuma from the party on 29 July. He had initially been suspended in January 2024, on the grounds of backing another political party while still a member of the ANC. Zuma had begun campaigning for the newly formed party uMkhonto weSizwe (MK) ahead of the May 2024 elections, claiming he could no longer support an ANC led by Cyril Ramaphosa. In its official statement, the ANC accused Zuma of actively impugning the ANC’s integrity, running on a “dangerous platform” and delivering “anti-revolutionary” outbursts. News of his suspension was broadly welcomed, including by the ANC Veterans and Youth Leagues, and alliance partners COSATU, SANCO and the SA Communist Party. Zuma now has 21 days to appeal the decision.?
???? Poll opposition
The Central African Republic’s main opposition leader, Anicet-Georges Dologuélé, who served as Prime Minister from 1999 to 2001, has threatened to disrupt the country’s first local elections in 36 years unless electoral laws allegedly favouring incumbent President Faustin-Archange Touadéra’s party are revised. Dologuélé’s party, the Union for Central African Republic Renewal (URCA), plans to boycott the October 2024 polls. It has criticised President Touadéra’s appointment of six out of eleven members of the National Elections Authority (ANE), claiming this undermines the body’s credibility. URCA also opposes rules barring individuals with dual nationality from running for office, which may invalidate Dologuélé’s candidacy in any future ballot. While Dologuélé did not specify how his party would disrupt the vote, several rebel groups and CSOs have also threatened to interfere, citing similar concerns of bias towards the ruling party.
???? Sandstorm
The Malian army and the Russian paramilitary Wagner Group were inflicted with heavy losses after five days of intense fighting in the Tinzaouatene district, near the Algerian border. Accounts from Wagner, supported by the Malian army, suggest they were engaged in fighting against the rebel group Permanent Strategic Framework for Peace, Security and Development before being ambushed by an al-Qaeda affiliate, Jamaat Nusrat al-Islam wal-Muslimin (JNIM), while awaiting reinforcements. While the death toll has not been confirmed by Wagner or its Africa Corps, losses are estimated to range from 20 to up to 80 fighters, making it the group’s worst known loss on the continent. The desert encounter has since evolved into the latest theatre for geopolitical proxy warfare, after Ukraine’s GUR military intelligence agency claimed it was involved in supplying intelligence to the rebels to facilitate a “successful operation” against the Wagner Group.
??Golden moments
The Olympics have kicked-off, under the wrong anthem. A faux-pas in Paris saw the South Sudanese men’s basketball team have to listen to Sudan’s national anthem ahead of their impressive debut win, defeating Puerto Rico 90-79. South Sudan is set to face Team USA today in a highly anticipated rematch of a thrilling London exhibition where they nearly upset the favourites for the men’s basketball gold medal. In the basketball women’s event, Nigeria surprised Australia to win their first game in the event since 2004, easing some pain after they weren’t allowed on the country’s procession boat during the opening ceremony. South Africa is the only African nation to have secured a gold medal so far, with Tatjana Smith winning the 100m breaststroke on 29 July.
???On Site
Berni Searle, South-African multimedia artist, is the sixth resident of the Zeitz-MOCAA Atelier programme in Cape Town, currently undertaking an eight-month residency titled “On Site”. The residency, which ends in March 2025, showcases a variety of Searle’s past works, sketches, objects, and publications while she develops new projects in situ. Searle emphasised that Cape Town's experiences, histories, and narratives are central to her work, reflecting her own life as a city inhabitant.?
?? AI for transformation in Africa
Africa Practice has partnered with Sand Technologies and The FutureList for a groundbreaking study supported by Google, looking into how AI is reshaping African businesses. If you are an entrepreneur and are leveraging AI to tackle pressing challenges and drive innovation in your business, we’re inviting you to fill out a 5-minute survey. Deadline is 9 August.
??A Nose and Three Eyes – Ihsan Abdel Kouddous
First serialised in 1963-64, the completion of the novel resulted in Kouddos becoming the first author to be brought before the Egyptian parliament under charges of harming public morality. Published in English for the first time in 2024, A Nose and Three Eyes has been described as a classic tale of love, desire, and family breakdown, critiquing the restrictions put upon women by conservative social norms and expectations.
?? Umva – Elsy Wameyo
On her debut album "Saint Sinner," Elsy Wameyo, the Kenyan-born, Australian-raised rapper, delivers a standout performance with the track "Umva." Elsy doesn't hold back, embodying a new era in her music with a confident delivery that grows stronger with each bar. The track is a powerful statement of her evolution as an artist, as she boldly claims the respect and space she rightfully deserves.
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