DIRS.INFO The most relevant business & tech news

☆ U.S. Considers Asking Black Americans on Census if They Are Slave Descendants
▼ + stars: | 2023-03-30 | by ( Michelle Hackman | Paul Overberg | ) www.wsj.com time to read: 1 min

The U.S. government is considering asking Black Americans on federal forms, including the census, whether their ancestors were enslaved. In a proposed update to how the government tracks Americans’ race and ethnicity, the Biden administration is asking the public for input on how it might go about differentiating Black people who are descendants of slaves in America from those whose families arrived more recently as immigrants from sub-Saharan Africa, the Caribbean or other countries.

JOHANNESBURG, March 27 (Reuters) - Multilateral development banks (MDBs) reluctant to offer debt relief need to shoulder an "equitable burden" in sovereign debt restructurings, a People's Bank of China official said on Monday. But with countries such as Zambia, Sri Lanka and Ghana having defaulted, China has faced criticism for holding up the debt restructuring processes. Jin also said that removing investments in "productive assets" from debt stock calculations in debt restructuring situations "should be encouraged". He acknowledged diverging opinions within China about debt restructuring, which he attributed partly to a lack of experience. "At most 15 years ago, in the multilateral forums China was always on the side of the borrowing countries," Jin said.

REUTERS/Thomas Suen/File PhotoJOHANNESBURG, March 28 (Reuters) - China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt & Road" infrastructure, according to a study published Tuesday. People's Bank of China (PBOC) swap lines accounted for $170 billion of the rescue financing, including in Suriname, Sri Lanka and Egypt. China's rescue lending is "opaque and uncoordinated," said Brad Parks, one of the report's authors, and director of AidData, a research lab at William & Mary College in the United States. China is negotiating debt restructurings with countries including Zambia, Ghana and Sri Lanka and has been criticised for holding up the processes. In response, it has called on the World Bank and International Monetary Fund to also offer debt relief.

☆ Bitcoin is poised to blow up Africa's $86 billion banking system
▼ + stars: | 2023-03-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Then there's mobile money, which has been around since the early 2000s. Africa's mobile money transactions rose 39% to more than $700 billion in 2021, according to data from the GSM Association, a non-profit representing mobile network operators worldwide. That cash network was extraordinarily difficult and expensive to build, which is why there aren't a lot of direct competitors. Bitnob is SMS-based and piggybacks on the mobile money system, making it easier for people to send money directly into bank accounts and mobile money wallets in African countries. "We're able to settle into bank accounts or mobile money accounts, without the recipients having to interact with bitcoin themselves," Parah tells CNBC.

☆ At least 29 African migrants die when two boats sink off Tunisia
▼ + stars: | 2023-03-26 | by ( Tarek Amara | ) www.reuters.com time to read: +2 min

TUNIS, March 26 (Reuters) - At least 29 migrants from sub-Saharan Africa died when their two boats sank off the coast of Tunisia as they tried to cross the Mediterranean to Italy, the Tunisian coast guard said on Sunday. Houssem Jebabli, a senior official in the national guard told Reuters that the Tunisian coast guard had also rescued 11 people off the coast of Mahdia, further north. The coast guard said it had stopped about 80 boats heading for Italy in the past four days and detained more than 3,000 migrants, mostly from sub-Saharan African countries. According to U.N. data, at least 12,000 migrants who reached Italy this year set sail from Tunisia, compared with 1,300 in the same period of 2022. The Italian coast guard said on Thursday it had rescued about 750 migrants in two operations off the southern Italian coast.

☆ Nineteen African migrants die when another boat sinks off Tunisia
▼ + stars: | 2023-03-26 | by ( Tarek Amara | ) www.reuters.com time to read: +2 min

TUNIS, March 26 (Reuters) - At least 19 migrants from sub-Saharan Africa died when their boat sank off the Tunisia as they tried to cross the Mediterranean to Italy, a human rights group said on Sunday, the latest migrant boat disaster off Tunisia. The coast guard said it had stopped about 80 boats heading for Italy in past four days and detained more than 3,000 migrants, mostly from sub-Saharan African countries. According to U.N. data, at least 12,000 migrants who reached Italy this year set sail from Tunisia, compared with 1,300 in the same period of 2022. The Italian coast guard said on Thursday it had rescued about 750 migrants in two operations off the southern Italian coast. Meloni called on the IMF and some countries to help Tunisia quickly to avoid its collapse.

☆ How this 26-year-old went from running bitcoin trading desks in Taco Bells to creating the largest crypto exchange in Africa
▼ + stars: | 2023-03-25 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +28 min

Yellow Card CEO Chris Maurice just before meeting with the Securities and Exchange Commission in Accra, Ghana. Chris MauriceFrom there, Yellow Card users can send or receive digital cash in eligible markets. Zoom In Icon Arrows pointing outwards Yellow Card CEO Chris Maurice in Accra, Ghana loading cash onto his Mobile Money account, MoMo. Yellow Card has facilitated $1.75 billion in transactions since launching in 2019 and has about 220 employees – mostly in Africa. A resident checks his phone outside a mobile money kiosk in the Kibera district of Nairobi, Kenya, on Monday, Aug. 1, 2022.

☆ Column: Global energy use and emissions hubs set to shift by 2050
▼ + stars: | 2023-03-21 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

LITTLETON, Colorado, March 20 (Reuters) - The Indian subcontinent, Southeast Asia and Sub-Saharan Africa will overtake China, North America and Europe as the key drivers of world energy use through 2050, with implications for global emissions potential and accountability. Combined primary energy use in the Indian subcontinent, Southeast Asia and Sub-Saharan Africa will grow from roughly 115,000 petajoules in 2023 to nearly 194,000 petajoules by 2050, an expansion of more than 78,000 petajoules. South Asia, Southeast Asia & Sub-Saharan Africa to be main drivers of global energy use by 2050This means that global energy consumption will continue to grow from current levels by 2050, despite the efforts of current energy transition leaders to reduce energy use by mid-century, DNV data shows. Downsizing of outdated or uncompetitive capacity is set to reduce Greater China's energy demand from manufacturing by 23% between 2025 and 2050, DNV data shows. If so, the global energy landscape of 2050 will not just have drastically different geographic concentrations of energy use, but also a cleaner emissions profile that may support energy transition efforts.

☆ Streaming boosts recorded music revenue, China market growing
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

Among the trends highlighted by the IFPI, a trade body for the recorded music industry, were China nudging into the top five markets globally for the first time, and income from the use of recorded music in adverts, film, television and games, rising by 22.3%. Subscription audio streaming revenues rose 10.3% to $12.7 billion, IFPI said, adding there were 589 million users of paid subscription accounts by end-2022. Overall, streaming accounted for 67% of total recorded music revenues. Global music revenues enjoyed their eighth consecutive year of growth. Puerto Rican singer and rapper Bad Bunny's "Un Verano Sin Ti" topped the 2022 IFPI Global Albums Chart while Britain's Harry Styles won the IFPI Global Single of the Year Award 2022 for hit "As It Was", the body said last month.

☆ Italy pushing IMF to help Tunisia and avoid instability, minister says
▼ + stars: | 2023-03-19 | by ( Crispian Balmer | ) www.reuters.com time to read: +4 min

However, Tajani has spoken to IMF Managing Director Kristalina Georgieva and urged her to show flexibility to stave off possible financial collapse. Prime Minister Giorgia Meloni is also "working the phones", one official said, warning that Italy faced an "invasion of migrants" in the coming months if Tunisia did not get the money. "Uncontrolled irregular migration can only be reduced by improving the conditions of security and economic stability," Tajani said, adding that Italy was looking to boost training opportunities for Tunisians as an alternative to migration. Of the arrivals this year to Italy, the top country of origin is Ivory Coast (3,223), followed by Guinea (2,906). "The stability and prosperity of Tunisia, with respect for fundamental rights and freedoms, are crucial for the stability of the entire Mediterranean region," Tajani said.

JOHANNESBURG, March 17 (Reuters) - Debt restructuring programmes in Ghana and Zambia are going in "diverging directions" due to Zambia's larger exposure to Chinese lenders and its weaker ability to cope with a large amount of debt, investment bank Citi said on Friday. Ghana was likely to get an International Monetary Fund (IMF)board sign-off for a $3 billion rescue loan in the next few weeks, while Zambia's restructuring had stalled, Citi's analysts said in a note to clients. Ghana defaulted on its external debts in December and has since sealed a domestic debt swap and requested a restructuring of its bilateral debts via the G20's Common Framework vehicle. "Our more positive view (on Ghana) is supported by a strong commitment by the IMF and Paris Club to achieve a quick breakthrough," the Citi note said. "Assuming a 12.5% exit yield... suggests an average price uptick of 10 cents" on bond prices, the note said.

☆ IMF, World Bank Pause Loans to Tunisia Amid Crackdown on Migrants
▼ + stars: | 2023-03-09 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

Migrants at Tunis-Carthage International Airport prepare to leave Tunisia on a repatriation flight. A crackdown on political opponents and Black African migrants in Tunisia is complicating the country’s efforts to secure billions of dollars in critical loans and grants from the International Monetary Fund and World Bank. The IMF reached an agreement last October to lend $1.9 billion to Tunisian authorities but has delayed final approval as President Kais Saied has moved to consolidate power and detained political opponents. After Mr. Saied in February denounced immigration in a speech and said without providing evidence that a “criminal plot” to change Tunisia’s demographic makeup was under way, hundreds of sub-Saharan African migrants in the country were arrested and others were attacked by mobs.

☆ Tunisian President Targets Sub-Saharan African Migrants, Mob Violence Follows
▼ + stars: | 2023-03-05 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

Protests erupted in the Tunisian capital after President Kais Saied ordered security forces to expel all migrants who had entered the country illegally. Tunisian authorities have arrested hundreds of sub-Saharan African migrants after President Kais Saied denounced immigration last month and said there was a “criminal plot” to change Tunisia’s demographic makeup. Following the speech, groups of Tunisian men attacked dark-skinned migrants, assaulting some and chasing many from their homes. More than 100 migrants have fled to the United Nations’ International Organization for Migration building in Tunis, the country’s capital.

☆ African migrants suffer under crackdown in Tunisia
▼ + stars: | 2023-03-01 | by ( Angus Mcdowall | ) www.reuters.com time to read: +5 min

[1/4] Ivory Coast nationals living in Tunisia and seeking repatriation, wait outside the embassy of Ivory Coast in Tunis, Tunisia February 27, 2023. Social media has, meanwhile, filled with accounts by darker-skinned people in Tunisia, including migrants with and without valid visas, African students and Black Tunisians, of ill treatment and fear. Official figures say there are 21,000 migrants from sub-Saharan African countries in Tunisia. Tunisia introduced visa-free travel for many African countries over the past decade. Many migrants in Tunisia aim to cross illegally to Europe but cannot afford the hundreds of dollars to get to Italy - a journey also taken by growing numbers of Tunisians.

☆ Nearly 2 million barrels of Russian diesel are stranded at sea because no one wants to buy them
▼ + stars: | 2023-02-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

As much as 1.9 million barrels of Russian diesel are in storage at sea, according to Kpler data cited by Bloomberg. That's the most since October 2020, when energy markets were still reeling from the COVID-19 pandemic. A record number of Russian diesel cargoes were sailing last week without a destination, Bloomberg reported. On Friday, a tanker named Theseus arrived in Ghana, carrying about 600,000 barrels of Russian crude, according to Bloomberg. The EU similarly banned Russian crude and imposed a price cap in December.

☆ African Union criticises Tunisia over 'racialised hate speech' against migrants
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +1 min

TUNIS, Feb 25 - The African Union (AU) has criticised Tunisia and urged it to avoid "racialised hate speech" after President Kais Saied ordered the expulsion of undocumented migrants and said immigration was a plot aimed at changing his country's demographic make-up . Tunisia's Foreign Ministry said on Saturday it was surprised by the AU statement issued late on Friday, and rejected what it called "baseless accusations" that it said misunderstood the government's position. Saied this week ordered security forces to stop all illegal migration and expel all undocumented migrants, prompting a campaign of arrests that caused widespread fear among sub-Saharan Africans as well as Black Tunisians. In response to criticism from rights groups that his remarks were racist, Saied said he was not racist and that migrants living in Tunisia legally had nothing to fear. Rights groups are holding a demonstration on Saturday to protest against Saied's comments and the clampdown on migrants.

☆ Netflix Cuts Subscription Prices in Over 30 Countries
▼ + stars: | 2023-02-23 | by ( Sarah Krouse | ) www.wsj.com time to read: 1 min

Netflix has cut prices for customers in several countries including Yemen, Kenya and Croatia in recent weeks. Netflix Inc. has reduced the cost of its service in more than three dozen countries in recent weeks, as it tries to appeal to customers around the world who have an ever-growing list of streaming options. The streaming company’s recent price cuts span Middle Eastern countries including Yemen, Jordan, Libya and Iran; sub-Saharan African markets including Kenya; and European countries such as Croatia, Slovenia and Bulgaria.

☆ Netflix cuts prices in some countries to boost subscriptions
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Feb 23 (Reuters) - Netflix Inc (NFLX.O) said on Thursday it had reduced the prices of its subscription plans in some countries, as the streaming giant looks to retain subscriber growth amid stiff competition from rivals. According to the Wall Street Journal, which reported the Netflix news first earlier in the day, the price cuts span across some Middle Eastern countries, sub-Saharan African markets and parts of Latin America and Asia. The cuts apply to certain tiers of Netflix in those markets and in some cases halving the cost of a subscription, the Journal reported. Netflix, which operates in over 190 countries, has been looking to grow share in newer international regions as the U.S. and Canada markets saturate. We can confirm that we are updating the pricing of our plans in certain countries," a spokesperson for the company said.

Methane is the main component of natural gas, so captured emissions can be sold as fuel. The energy sector accounts for about 40% of all methane emissions from human activity, second to agriculture. Dozens of oil companies have also voluntarily committed to reduce emissions through the Oil and Gas Methane Partnership, and the Oil and Gas Climate Initiative. Altogether, the coal industry was responsible for about 40 million tonnes of methane emissions in 2022. Coal-related methane emissions in China are equivalent to total CO2 emissions from the whole of sub-Saharan Africa," Gould said.

ABIDJAN/OUAGADOUGOU, Feb 20 (Reuters) - France's defence minister pledged on Monday to boost military support to Ivory Coast, as Paris adjusts its strategy in West Africa after neighbouring Burkina Faso ordered French troops to leave and vowed to curb a worsening Islamist insurgency solo. The two jihadist groups have taken over swathes of land and displaced millions of people in Burkina, Mali and Niger. Burkina Faso has denied an allegation that Russian mercenaries are in the country, but its prime minister in December said it would welcome Russia's help in its fight against the insurgents. OTHER PARTNERSThe countries' rejection of French military help could allow other states in the region to put themselves forward as more reliable partners to Western powers. "Ivory Coast and Benin have the will to fight against terrorism," the official said, speaking on condition of anonymity.

☆ African countries are charged 'extortionate' rates on debt, U.N. chief says
▼ + stars: | 2023-02-18 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +3 min

"We need a new debt architecture that provides debt relief and restructuring to vulnerable countries," he said. "The global financial system routinely denies (developing countries) debt relief and concessional financing while charging extortionate interest rates." Governments on the continent, including Ethiopia, sought debt restructuring deals under an IMF programme to help them navigate the crisis, but conclusion of the process has been delayed. Others, which have not sought to restructure their debt, like Kenya, have seen their debt sustainability indicators worsen after the pandemic hit their finances. "African countries cannot... climb the development ladder with one hand tied behind their backs," he said.

☆ Debt-laden African countries charged 'extortionate' rates, U.N. chief says
▼ + stars: | 2023-02-18 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +3 min

ADDIS ABABA, Feb 18 (Reuters) - African countries are getting a raw deal from the international financial system which charges them "extortionate" interest rates, the U.N. chief said on Saturday, as he announced $250 million in crisis funding, including for famine risk on the continent. "The global financial system routinely denies (developing countries) debt relief and concessional financing while charging extortionate interest rates," he said. The coronavirus pandemic pushed many poor countries into debt distress as they were expected to continue servicing their obligations in spite of the massive shock to their finances. Public debt ratios in sub-Saharan Africa are at their highest in more than two decades, the International Monetary Fund said last year. "African countries cannot... climb the development ladder with one hand tied behind their backs," Guterres said.

☆ Hope for jobs drives recruitment by militant groups in Africa - report
▼ + stars: | 2023-02-07 | by ( Nellie Peyton | ) www.reuters.com time to read: +3 min

While worldwide deaths from terrorism have declined in the last five years, deaths in sub-Saharan Africa have risen, making it now the global epicentre of attacks, the UNDP report said, citing an annual survey called the Global Terrorism Index. Countries from east to west Africa have seen Islamist militant groups take over large swathes of territory, displacing millions, eroding faith in democratic government and causing widespread hunger. The UNDP report found that 25% of voluntary recruits to such groups cited job opportunities as their primary reason for joining, while 22% cited wanting to join with family and friends and 17% cited religious ideas. An additional year of schooling reduced the likelihood of voluntary recruitment to extremist groups by 13%, it found. The Global Terrorism Index is produced by the Institute for Economics and Peace think-tank, which draws its data from the Terrorism Tracker database of Dragonfly, a private sector security and intelligence service.

[1/6] Pope Francis greets people during the Holy Mass at John Garang Mausoleum, during his apostolic journey, in Juba, South Sudan, February 5, 2023. Two years after independence, South Sudan plunged into a civil war that killed 400,000 people. "I want peace to come to South Sudan. Jesilen Gaba, 42, a widow with four children, said: "The fact that the three Churches united for the sake of South Sudan, this is the turning point for peace. South Sudan has some of the largest crude oil reserves in sub-Saharan Africa but a U.N. report in 2021 said the country's leaders had diverted "staggering amounts of money and other wealth" from public coffers and resources.

Summary Pope received vibrant welcome in KinshasaAddressed DR Congo's struggles with war, exploitationNow heads to predominantly Christian South SudanArchbishop of Canterbury joins for South Sudan legKINSHASA, Feb 3 (Reuters) - Pope Francis wraps up an emotional visit to Democratic Republic of Congo on Friday and heads to neighbouring South Sudan, another nation struggling to overcome decades of conflict and grinding poverty. On Wednesday, he heard harrowing stories from victims of conflict in eastern Congo who had witnessed the killings of close relatives and been subjected to sexual slavery, amputation and forced cannibalism. The pope will be joined for the whole of his visit to South Sudan by Archbishop of Canterbury Justin Welby, leader of the global Anglican Communion, and by the Moderator of the General Assembly of the Church of Scotland, Iain Greenshields. It is the first joint foreign trip by the three Christian leaders, who have called it a "pilgrimage of peace". South Sudan broke away from Sudan to become independent in 2011 after decades of north-south conflict, but civil war erupted in 2013.

Search resuls for: "SAHARAN AFRICA"

25 mentions found