DIRS.INFO The most relevant business & tech news

☆ China has poured billions into Africa’s infrastructure. Is it now tightening the tap?
▼ + stars: | 2023-09-26 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +11 min

The impact of those funds is felt across Africa, where residents in major cities like Lagos, Nairobi and Addis Ababa now transit daily via railways, highways and airports built in recent years with Chinese loans and often by Chinese construction firms. But understanding how much money is flowing out of China into global development is notoriously tricky as Beijing doesn’t share this data openly and a wide range of financial entities play roles. How all this plays out could have a significant impact on developing countries’ access to much-needed infrastructure funding. China is also navigating the second decade of the Belt and Road amid stark economic challenges at home. China in 2017 released guidance on promoting a “green” Belt and Road, which called for sustainable development and strengthening environmental protection.

Persons: laud, Xi, Roberto Matchissa, Oyintarelado Moses, ”, Moses, Ammar A, Malik, “, Austin Strange, Yasuyoshi Chiba, AidData’s Malik, HKU’s Organizations: Hong Kong CNN, Initiative, Boston University Global Development, Center, Getty, CNN, Global China Initiative, Global Development Policy, William, Mary’s Global Research Institute, University of Hong, Global Development Locations: China, Hong Kong, Africa, Beijing, Lagos, Nairobi, Addis Ababa, Ukraine, Maputo, Katembe, Mozambique, AFP, Kazakhstan, Zambia, Ghana, University of Hong Kong, Kenya, United States, China’s

There are signs that the country has now slipped into another era of brutal oppression, even as newly reelected President Emmerson Mnangagwa speaks publicly of “peace, love, harmony and tolerance." “It is the beginning of a new term and we are seeing people being abducted and tortured, people’s homes being burnt down, and lawyers arrested for simply doing their job,” said Doug Coltart, one of Nhende’s lawyers, who was himself arrested. The sight of an elected representative showing injuries from a beating isn't uncommon in Zimbabwe. The CCC and analysts say there is a clear post-election clampdown now that the international observers have left. “It was a sham election, a disputed election, a flawed election.

Persons: Womberaiishe, truncheons, Emmerson Mnangagwa, —, ”, Doug Coltart, Robert Mugabe, Mnangagwa, Tapiwa Muchineripi, Coltart, bode, “, ” Mnangagwa's, Nhende, ” Nhende, Morgan Tsvangirai, Mugabe, Mkwananzi, Siziba, clampdown, Rashweat Mukundu, Nelson Chamisa, Chamisa Organizations: Citizens Coalition, ZANU, CCC, Coltart, Amnesty, Human Rights, PF, Police, AP Locations: HARARE, Zimbabwe, Harare, Africa, Zimbabwean, africa

☆ Zimbabwe: Outrage as Mnangagwa appoints son second-in-command over treasury after disputed polls
▼ + stars: | 2023-09-13 | by ( Nimi Princewill | ) edition.cnn.com time to read: +3 min

CNN —Zimbabwe’s recently re-elected President Emmerson Mnangagwa is facing outrage after appointing his son as deputy minister to the country’s finance ministry. Mnangagwa’s 34-year-old son, David, was among 26 officials sworn in as cabinet ministers Tuesday despite public anger when the list of the nominees was made public on Monday. In his expanded cabinet, Mnangagwa’s son is to deputize finance minister Mthuli Ncube while his nephew, Tongai, would serve as deputy minister in the country’s tourism ministry. Some Zimbabweans have accused Mnangagwa of running the impoverished southern African country as “a family business.”“Slowly Zimbabwe is becoming a family business. The opposition CCC party, which placed second in last month’s disputed polls, also criticized the ministerial list which included a couple, Christopher and Monica Mutsvangwa, both associates of President Mnangagwa, as ministers.

Persons: CNN — Zimbabwe’s, Emmerson Mnangagwa, David, Mnangagwa’s, Mthuli Ncube, Tongai, ”, Mugano, “ It’s, Ncube, ” Mugano, David Mnangagwa, Nick Mangwana, “, ” Mangwana, Christopher, Monica Mutsvangwa, Mnangagwa Organizations: CNN, University of Zimbabwe, Business Administration, Drake University, CCC Locations: Zimbabwe, Harare, doldrums, United States

☆ Taiwan president arrives in Eswatini to visit last African ally
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

TAIPEI/MBABANE, Sept 5 (Reuters) - Taiwan President Tsai Ing-wen arrived on Tuesday in Eswatini, Taipei's last African ally, saying the island will continue to confidently engage with the world and show it is a force for good. The Taiwanese delegation signed three memoranda of understanding with the southern African country after it met with Eswatini's King Mswati III. Eswatini is almost entirely surrounded by South Africa, which Chinese President Xi Jinping visited last month. Tsai last visited Eswatini in 2018, and this time is being accompanied by Economy Minister Wang Mei-hua. Taiwan has provided large amounts of aid to the small southern African country ruled by an absolute monarchy, including in 2021 antiviral medication to help King Mswati III recover from COVID.

Persons: Tsai Ing, Taipei's, Eswatini's King Mswati III, Tsai, Eswatini, Xi Jinping, Economy Minister Wang Mei, King Mswati III, Ben Blanchard, Anait Miridzhanian, Michael Perry, Josie Kao, William Maclean Organizations: Eswatini's Ministry of Foreign Affairs, Economy Minister, COVID, Thomson Locations: TAIPEI, MBABANE, Taiwan, Eswatini, China, Latin America, Caribbean, Belize, Nauru, Honduras, Swaziland, South Africa, America, United States, Lunga

[1/4] Ostallos Siziba, the Deputy Spokesperson for Zimbabwe's main opposition party The Citizens Coalition for Change (CCC) speaks to media in Harare, August 29, 2023. REUTERS/Philimon Bulawayo Acquire Licensing RightsHARARE, Aug 29 (Reuters) - Zimbabwe's main opposition party on Tuesday called for last week's elections to be re-run, saying the polls were riddled with flaws and calling on other African countries to help mediate in its impasse with the ruling party. The elections commission said Mnangagwa received roughly 53% of the vote against 44% for the CCC's Nelson Chamisa. Christopher Vandome from policy institute Chatham House's Africa programme said he was unsure the opposition would go the legal route at all. Zimbabwe's foreign ministry summoned European ambassadors to Zimbabwe on Monday and told them their mission's report was "full of misrepresentations and allegations".

Persons: Siziba, Emmerson Mnangagwa, Mnangagwa, Nelson Chamisa, Chris Maroleng, Christopher Vandome, Carien du Plessis, Bhargav, Alexander Winning, Sharon Singleton Organizations: Citizens Coalition, REUTERS, Philimon, Rights, Citizens ' Coalition, CCC, PF, ZANU, Good Governance, Southern African, SADC, Thomson Locations: Harare, Philimon Bulawayo, Rights HARARE, Zimbabwe, Good, Chatham, Africa, European

The presidential election in Zimbabwe last week that kept the governing party in power and was widely criticized as dubious is likely to isolate the country further from the United States and other Western nations. But it has also exposed Zimbabwe to increased scrutiny and pressure from a surprising place: its neighbors in southern Africa. Before President Emmerson Mnangagwa was declared the winner of a second term on Saturday, the Southern African Development Community and the African Union publicly questioned the legitimacy of Zimbabwe’s elections for the first time. While Zimbabwe has chalked up criticism from the West as colonial gripes, condemnation from other leaders on the continent may not be so easily brushed off, analysts say, particularly when it comes from countries that have to absorb the effects of Zimbabwe’s economic and social turmoil. On Sunday, speaking for the first time since his victory, Mr. Mnangagwa dismissed his African critics.

Persons: Emmerson Mnangagwa, Mnangagwa Organizations: Southern African Development Community, African Union Locations: Zimbabwe, United States, Africa

[1/4] Zimbabwe's President Elect Emmerson Mnangagwa speaks to the media at State House in Harare, August 27, 2023. REUTERS/Philimon Bulawayo Acquire Licensing RightsHARARE, Aug 27 (Reuters) - Zimbabwe's re-elected President Emmerson Mnangagwa suggested on Sunday that those people questioning the results of last week's election, which an opposition leader dismissed as a "gigantic fraud", take their case to court. The election commission said on Saturday that Mnangagwa, 80, had won the election with 52.6% of the vote while the opposition Citizens' Coalition for Change (CCC) leader Nelson Chamisa got 44%. Chamisa, speaking on social media platform X, formerly Twitter, said of the election: "It's a blatant and gigantic fraud." It was unclear whether the opposition would use the courts to dispute the election results, as Zimbabwe's judges have historically sided with the governing party.

Persons: Elect Emmerson Mnangagwa, Emmerson Mnangagwa, Nelson Chamisa, Mnangagwa, Robert Mugabe, Christopher Mutswangwa, ”, Munjodzi Mutandiri, Mkwananzi, Nyasha Chingono, Carien du Plessis, Bhargav Acharya, Nick Macfie, Kirsten Donovan Organizations: State House, REUTERS, Philimon, Rights, Citizens ' Coalition, ZANU, Southern, Liaison, Southern African Development Community, Thomson Locations: Harare, Philimon Bulawayo, Rights HARARE

☆ Incumbent Claims Victory in Zimbabwe Election Amid Fraud Accusations
▼ + stars: | 2023-08-26 | by ( John Eligon | More About John Eligon | ) www.nytimes.com time to read: +1 min

“We reject any result hastily assembled without proper verification,” Promise Mkwananzi, the party spokesman, wrote on Twitter shortly after the results were announced. Mr. Mugabe was removed in a coup in 2017 by Mr. Mnangagwa and his allies. The following year, Mr. Mnangagwa eked out a victory over Mr. Chamisa in an election, winning just over 50 percent of the vote. The Zimbabwean police drew global condemnation for arresting dozens of members of one of the country’s most respected election watchdogs on election night, accusing them of plotting to sow discord by releasing projected election results. The night after the raid, ZANU-PF officials offered their own election projections at a news conference, and drew no ire from the police.

Persons: “, Mnangagwa, Robert Mugabe, autocrat, Mugabe, Chamisa Organizations: Twitter, Mr, Zimbabwean, ZANU Locations: Zimbabwe, African

REUTERS/Siphiwe Sibeko Acquire Licensing RightsHARARE, Aug 26 (Reuters) - Zimbabwe's elections commission said late on Saturday that incumbent Emmerson Mnangagwa had won this week's presidential election with roughly 53% of the vote, but the opposition and analysts immediately questioned the result. ZANU-PF supporters started singing and cheering at the results centre after the elections commission said Mnangagwa had won. Mnangagwa also narrowly defeated Chamisa at the last presidential election in 2018. The opposition alleges that election was rigged but the constitutional court upheld the result. While the run-up to the election has been largely free from violence, the police routinely ban opposition rallies and arrest opposition supporters using Zimbabwe's tough public order laws.

Persons: Emmerson Mnangagwa's, Siphiwe, Emmerson Mnangagwa, Mnangagwa, Robert Mugabe, Mnangagwa's, Nelson Chamisa, Chamisa, Nicole Beardsworth, ZEC, Nyasha Chingono, Nelson Banya, Carien du Plessis, Bhargav, Alexander Winning, Daniel Wallis Organizations: REUTERS, Rights, ZANU, Zimbabwe Electoral Commission, Citizens ' Coalition, PF, University of, SADC, Thomson Locations: Shurugwi, Midlands Province of Zimbabwe, Rights HARARE, Zimbabwe, Southern, Witwatersrand, Johannesburg

Police sealed off roads around the election results centre on Friday morning, and members of the public were being stopped for questioning, a Reuters reporter in the capital Harare said. However, results announced so far by the Zimbabwe Electoral Commission showed ZANU-PF winning 38 parliamentary constituencies and the main opposition party Citizens Coalition for Change (CCC) winning 32, out of a total of 210 single-member constituencies. The early results showed ZANU-PF retaining its rural base, while the CCC captured the urban vote, as has been the case in previous elections. In the highest-profile loss yet for the ruling party, the electoral commission said on Friday that Finance Minister Mthuli Ncube had lost his parliamentary contest to a CCC challenger. Mnangagwa took over from longtime strongman Robert Mugabe after a 2017 coup and won a disputed election in 2018.

Persons: Emmerson Mnangagwa's, Nelson Chamisa, Patrick Chinamasa, Mthuli Ncube, PF's Chinamasa, Mnangagwa, Robert Mugabe, Nelson Banya, Bhargav Acharya, Nellie Peyton, Alexander Winning Organizations: REUTERS, Philimon, Rights, Emmerson Mnangagwa's ZANU, World Bank, International Monetary Fund, Police, ZANU, National Assembly, Commission, Coalition, PF, CCC, Thomson Locations: Harare, Zimbabwe, Philimon Bulawayo, Rights HARARE

A tally by state broadcaster ZBC showed ZANU-PF winning 101 parliamentary constituencies and the main opposition party Citizens Coalition for Change (CCC) winning 59, out of a total of 210. The result of the presidential vote has not been announced yet. The ERC later posted on X, formerly known as Twitter, that 16 of its staff together with Zimbabwe Election Support Network members had been released on $200 bail each by a magistrate. Mnangagwa last week told state media that if he got a second term, it would be his last. As in previous elections, the parliamentary results appeared to show ZANU-PF retaining its rural base, while the CCC captured the urban vote.

Persons: Emmerson Mnangagwa's, Nelson Chamisa, Fabio Massimo Castaldo, Castaldo, Nevers Mumba, Patrick Chinamasa, Mnangagwa, Eldred Masunungure, Robert Mugabe, Nelson Banya, Bhargav Acharya, Nellie Peyton, Alexander Winning, Devika Syamnath, Andrew Heavens Organizations: Emmerson Mnangagwa's ZANU, ZBC, ZANU, Coalition, World Bank, International Monetary Fund, REUTERS, Philimon, Rights Police, Zimbabwe Election, Election, Centre, ERC, Zimbabwe Election Support, Southern African Development Community, National Assembly, University of Zimbabwe, PF, CCC, Thomson Locations: EU, HARARE, Harare, Zimbabwe, Philimon Bulawayo, SADC

The hospital where Warren George worked as a nurse in Zimbabwe was so short of basic supplies, like plaster, that he could not make casts to treat people with broken bones. He soon sought to join the exodus of more than 4,000 nurses who have fled the southern African nation in the past two years. But the government has refused to give him and many others the documents they would need to work in, say, Britain or Canada. He says that he now earns only about $500 a month as a traveling nurse and has to pick up extra shifts on his days off to ensure his family has enough to eat. Zimbabweans are scheduled to go to the polls on Wednesday in only the second election since Robert Mugabe, the liberation leader turned strongman president, was ousted in a coup.

Persons: Warren George, Robert Mugabe Locations: Zimbabwe, Britain, Canada

☆ Larry Rudolph, dentist who killed wife on safari, sentenced to life in prison
▼ + stars: | 2023-08-22 | by ( Jamiel Lynch | ) edition.cnn.com time to read: +3 min

A jury last year found Lawrence Rudolph guilty of murdering his wife, Bianca, while they were on a hunting trip in the southern African country. Rudolph then filed over $4 million in fraudulent life insurance claims after returning to the US, the release said. I would not murder my wife,” Rudolph told jurors when he took the stand in his own defense. The Phoenix couple shared a passion for big-game hunting and had traveled to Zambia in September 2016 so Bianca Rudolph could add a leopard to her collection of animal trophies. Rudolph killed his wife for insurance money and to be with his girlfriend, Lori Milliron, prosecutors argued.

Persons: Lawrence Rudolph, Bianca, Rudolph, “, Bianca Rudolph, ”, Mark Michalek, ” Rudolph, “ Larry, David Oscar Markus, Margot Moss, Lauren Doyle, Lori Milliron, Milliron, John Dill, ” Dill, “ Lori Milliron, ” Markus Organizations: CNN, US, Office, District of, FBI, DOJ, Denver FBI, Department of Justice Locations: American, Zambia, District of Colorado, Denver, Pittsburgh

Russia remained the top supplier to China, with pipeline and seaborne arrivals of 2.04 million bpd in July, which was down from June's 2.56 million bpd. However, it was still enough to exceed imports from Saudi Arabia, which Refinitiv estimated at 1.82 million bpd in July, down from 1.94 million bpd in June. It's also worth noting that much of the strength in China's crude imports is because of massive inflows into commercial or strategic storages. India's refiners continue to gorge on discounted Russian crude, with arrivals in July estimated at an all-time high of 2.08 million bpd. Japan's July oil imports are estimated at 2.49 million bpd, up from June's 2.11 million bpd, while South Korea's are put at 2.76 million bpd, up from 2.53 million bpd in June.

Persons: Amit Dave LAUNCESTON, It's, China doesn't, India's refiners, Brent, Clyde Russell, Christopher Cushing Organizations: REUTERS, Refinitiv Oil Research, Brent, OPEC, Reuters, Thomson Locations: Vadinar, Gujarat, India, Australia, China, Asia, Russia, June's, Saudi Arabia, OPEC, Angola, Oman, East, Iraq, Moscow, South, North Asia

☆ Why Won’t Simon Ateba Stop Shouting?
▼ + stars: | 2023-07-26 | by ( Joseph Bernstein | ) www.nytimes.com time to read: +2 min

(Mr. Ateba currently has a “hard pass,” which confers regular access to White House grounds. After the meeting, which Mr. Ateba recalled as being cordial, Ms. Psaki did call on him during a briefing, on Sept. 1, 2021. Mr. Ateba asked a friendly question about whether Mr. Biden’s detractors should apologize for calling him “sleepy.”What followed, Mr. Ateba said, were several amicable months. Ms. Psaki and Mr. Ateba met privately again. As their briefing room exchange made the rounds on Twitter, Fox News invited Mr. Ateba to appear on “Tucker Carlson Tonight.”“I wondered, is it in my best interest?” Mr. Ateba recalled.

Persons: Ateba, don’t, Biden, Psaki, Biden’s, Dr, Anthony Fauci, Mr, Ms, “ It’s, “ Tucker Carlson, “, Jesse Watters, Trump Organizations: White House, Twitter, Fox News Locations: United States, Africa, Asia, Europe, South Africa

☆ Roger Federer: What the 20-time grand slam champion did next - Swiss star reflects on coaching his children, the impact of his charity work and that emotional retirement
▼ + stars: | 2023-07-04 | by ( Matias Grez | Christina Macfarlane | ) edition.cnn.com time to read: +6 min

CNN —The chance to be coached by Roger Federer would surely be a dream come true for any young tennis player. Federer’s foundation focuses on providing parents, teachers and communities the tools to be able to give children a strong education. This year marks the 20th anniversary of the launch of the Roger Federer Foundation. The tearful farewellOn September 23, 2022, Federer took to the court as a professional tennis player for the last time. Roger Federer and Rafael Nadal played together in the final match of the Swiss star's career.

Persons: Roger Federer, CNN’s Christina Macfarlane, “ I’m, Federer, you’ve, you’re, “, ” Federer, Myla, Charlene, didn’t, ’ ” Federer, ”, –, Lenny, Leo, it’s, Elena Rybakina’s, Rafa Nadal, Nadal, Jack Sock, Frances Tiafoe, Rafael Nadal, Clive Brunskill, Rafa, Novak, Djokovic, Andy, Murray, Borg, John, McEnroe, Rod, Laver, Stefan, Edberg Organizations: CNN, Wimbledon, ‘, Roger Federer Foundation, Court, All England, Laver, O2 Locations: Swiss, Africa, Switzerland, Lesotho, London

It also defies protests from a minority of activist investors who want oil companies to be more closely aligned with global efforts to mitigate climate change. An oil and gas price rally driven by energy producer Russia's invasion of Ukraine translated into record profits for the energy majors. That has increased confidence in the most costly, high-risk offshore exploration that can also deliver the highest rewards. Wood Mackenzie analysts predict a continued increase in activity, forecasting offshore exploration and drilling activity to grow by 20% by 2025. Wood Mackenzie meanwhile predicts the commitment of up to $185 billion to develop 27 billion barrels of oil reserves, with international oil companies focused on the higher-cost, higher-return deepwater developments.

Persons: Olivier Le Peuch, Baker Hughes, Wood Mackenzie, Leslie Cook, TotalEnergies, Yujnovich, QatarEnergy, Shell, Graff, La Rona, Ron Bousso, Barbara Lewis Organizations: Shell, BP, SLB, Reuters, International Energy Agency, Barclays, West Africa –, Nambia's Petroleum, Thomson Locations: Namibia, Ukraine, Gulf of Mexico, South America, West Africa, NAMIBIA, Canada

☆ Zimbabwe president pledges economic revival as election campaign kicks off
▼ + stars: | 2023-06-25 | by ( Nyasha Chingono | ) www.reuters.com time to read: +2 min

The election comes amid a raging economic crisis, with high inflation and a currency that plunged more than 50% this month against the U.S. dollar. In remarks aimed mostly at his rural support base at the weekend, Mnangagwa pledged infrastructure developments. Mnangagwa toppled independent Zimbabwe's first president, Robert Mugabe, in a coup in 2017, eding his 37-year rule. The opposition CCC party enjoys considerable support in towns and cities, while ZANU-PF's supporters are mainly in rural areas. Zimbabwe has endured over two decades of economic failure following land seizures by Mugabe, plunging the southern African country into an economic crisis.

Persons: Emmerson Mnangagwa, Nelson Chamisa, Mnangagwa, Robert Mugabe, eding, Mugabe, Nyasha Chingono, Carien du Plessis, Emelia Organizations: ZANU, Citizens Coalition, U.S ., CCC, Thomson Locations: Zimbabwe, Chipinge, Harare, Chamisa

☆ Zambia seals $6.3 billion debt restructuring deal
▼ + stars: | 2023-06-22 | by ( Leigh Thomas | ) www.reuters.com time to read: +3 min

"We have reached an agreement on the outline of a debt treatment, we've reached the end of the negotiation," the French official, who did not wish to be identified, told journalists. Zambia's public sector creditors agreed to reschedule $6.3 billion, including $1.3 billion in arrears, and private sector creditors are expected to do the same on the $6.8 billion owed to them, the official said. The restructuring agreement with official creditors paves the way for Zambia to receive another $188 million tranche of money from the International Monetary Fund, part of a $1.3 billion package approved in August 2022. The scale of the debt relief Zambia requires has been a concern for some of the country's main creditors. Of the $6.3 billion in debt owed to government bodies, $4.1 billion was owed specifically to Export-Import Bank of China, the French official said.

Persons: we've, Hakainde Hichilema, Emmanuel Macron's, Leigh Thomas, Susan Fenton Organizations: International Monetary Fund, Import Bank of China, Zambian, Group, Thomson Locations: Zambia, China, Beijing, France

WHAT IS THE COMMON FRAMEWORK? The Common Framework requires debtor countries to secure restructuring assurances from any bilateral lenders first and commercial and multilateral lenders second - to Beijing's dismay. "We call on multilateral financial institutions and commercial lenders, who are the main creditors for developing countries, to participate in developing countries' debt relief efforts," Mao said. In Paris, analysts expect China to continue to voice support for the Common Framework but for debt relief to be dispensed "case-by-case". The last time global policymakers met to discuss the Common Framework in Washington, China proposed the IMF should speed up and improve information sharing on debt sustainability analyses.

Persons: Li Qiang, acceding, Yi Gang, Mao Ning, Mao, Qin Gang, Sri, Wang Wenbin, Joe Cash, Ryan Woo, Shri Navaratnam Organizations: Paris Club, International Monetary Fund, Bank, IMF, World Bank, Foreign Ministry, China's, France, Thomson Locations: Paris, China, Zambia, Chad, Ethiopia, Ghana, United States, U.S, Beijing, Washington, CHINA, Addis Ababa, Japan, India, France, Sri Lanka's

WASHINGTON, April 13 (Reuters) - Angola's next sovereign debt issuance will be an ESG bond of up to $1 billion, its finance minister told Reuters on Thursday, but she added that the southern African oil producer's government would not tap the market this year. "We are open to get funding from whoever is interested to participate," she said. But any ESG issuance will be the first one for us, so we want to start with the hard work." "We are very cautious about the moment to step into the markets because we want to stabilise our debt," she said, noting the current challenging market conditions. Reporting by Leika Kihara; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

LUSAKA, April 12 (Reuters) - Zambia is planning to finish tests that simulate real-world cryptocurrency usage by the end of June to help it create regulations that balance citizens' safety with innovation, science and technology minister Felix Mutati told Reuters. The southern African country also needs digital infrastructure, including digital identities, before cryptocurrencies can be introduced, Mutati said in an interview on Wednesday. "Our main goal in the area of cryptocurrency is to strike a balance between innovation in terms of digital payments ... against citizens' safety, particularly given that cryptocurrency is very volatile," Mutati said. "What we are seeing is increased appetite to invest in Zambia," Mutati said, when asked whether any investments under his purview had been delayed, suspended or cancelled due to Zambia's long-delayed debt restructuring. Mutati said the way Chinese loans were contracted during his tenure as finance minister between 2016 and 2018 depended on the project.

☆ Factbox: The developing countries facing a debt crisis
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +7 min

The cocoa, gold and oil producer has already reached a deal to write down domestic debt and last week kicked off formal debt talks with international bondholders. A $1.9 billion IMF loan has been stalled for months as Tunisia's president has shown little sign of action on key reforms. SRI LANKASri Lanka defaulted on its international debt last year after economic mismanagement, exacerbated by the COVID-19 pandemic, sparked a political crisis and left it without dollars for even essential imports. UKRAINEUkraine just received the first $2.7 billion tranche under a four-year, $15.6 billion IMF loan program. Zambia's currency, the kwacha , has fallen more than 10% against the U.S. dollar this year, which the central bank has said is adding to inflation.

[1/5] Locals in the Chiradzulu district look at the damage on a road after mudslides and rockfalls in the area caused by the aftermath of Cyclone Freddy in Blantyre, Malawi, March 15, 2023. Most people heeded the warnings, knowing from bitter experience the damage such storms could inflict: 600 people had died in Cyclone Idai in 2019. The storm was far more deadly in neighbouring Malawi, where at least 447 were killed as Freddy tore through the country's southern tip and inundated the main commercial hub of Blantyre. Mozambique and Malawi are among the poorest 8% of countries in the world, according to United Nations data. In the case of Freddy, this extra energy allowed the storm to pick up strength again and circle back to strike again.

☆ Malawians search for relatives buried under the mud as death toll jumps
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +3 min

While the storm had dissipated, rain continued to hamper rescue efforts as vehicles struggled on flooded roads. Lieutenant Colonel Dickens Kamisa, who participated in the search, said local authorities identified about eight areas where dead bodies should be buried and were using sniffer dogs to find trapped Malawians. Chifundo Chilimba, a local resident, told Reuters he could not find his family members as the depth of the mud was too deep. The United Nations World Food Programme (WFP) said it was providing food assistance by distributing partially pre-cooked food called corn-soya blend to displaced people. The storm had already killed about 27 people in Madagascar and Mozambique before it lashed Mozambique a second time.

Search resuls for: "Southern African"

25 mentions found