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☆ Central African Republic says Wagner troop movement is rotation not departure
▼ + stars: | 2023-07-08 | by ( Judicael Yongo | ) www.reuters.com time to read: +1 min

BANGUI, July 8 (Reuters) - The departure of hundreds of Russian Wagner troops from Central African Republic is part of a rotation of forces rather a withdrawal, a spokesperson for the CAR presidency said on Saturday. But CAR presidential spokesperson Albert Yaloke Mokpem said "it is not a definitive departure but a rotation." Several hundred Wagner troops have recently left the country, a military source told Reuters, speaking on condition of anonymity and without giving further details. Any restructuring of Wagner operations in CAR could have substantial commercial ramifications. Analysts have said Wagner received logging rights and control of a gold mine in CAR.

Persons: Russian Wagner, Wagner, Yevgeny Prigozhin, insurgencies, Albert Yaloke Mokpem, Alessandra Prentice, Daniel Wallis Organizations: Central African, CAR, Thomson Locations: BANGUI, Russian, Central African Republic, Russia, Africa, Bangui, States, UAE

☆ Sierra Leone ruling party wins 60% of parliamentary seats in contested vote
▼ + stars: | 2023-07-01 | by ( Umaru Fofana | ) www.reuters.com time to read: +1 min

FREETOWN, July 1 (Reuters) - The ruling Sierra Leone People’s Party has won 60% of the seats in a parliamentary election, the election commission said on Saturday, as the main opposition party demanded a rerun of the vote that also saw President Julius Maada Bio win a second term. The SLPP won 81 seats while the opposition All People’s Congress won 54, according to the results read by the commission's chairman Mohamed Kenewui Konneh. The results showed the ruling party made significant gains in the bellwether diamond-rich district of Kono, winning seven of the 10 seats where they had none previously. They also made gains in the opposition heartland of the north and west, especially in the capital Freetown. The APC also said it would refuse to participate in any form of governance as a result of the alleged election irregularities.

Persons: Julius Maada, SLPP, Mohamed Kenewui Konneh, Alessandra Prentice, Louise Heavens Organizations: Sierra Leone People’s Party, People’s, Thomson Locations: FREETOWN, Sierra, Kono, Freetown

☆ Sierra Leone's main opposition party demands rerun of general election
▼ + stars: | 2023-07-01 | by ( Umaru Fofana | ) www.reuters.com time to read: +2 min

FREETOWN, July 1 (Reuters) - Sierra Leone's main opposition party said it had decided to formally reject the results of the national election won by President Julius Maada Bio, citing "glaring irregularities", and called for a rerun of the June 24 poll. Bio was re-elected for a second term with 56% of the vote, narrowly avoiding a run-off against main rival Samura Kamara of the opposition All People's Congress (APC). But Kamara has questioned the official tally, while European election observers noted statistical inconsistencies. In its first official statement on the full results, the APC said on Friday it rejected the outcome "given the glaring irregularities and violations of established electoral procedures." "A rerun after an official declaration of results and a swearing-in ceremony is unconstitutional," he said by phone to Reuters.

Persons: Julius Maada, Samura Kamara, Kamara, Mohamed Rahman Swaray, Swaray, Alessandra Prentice, David Holmes Organizations: People's Congress, Reuters, EU, Thomson Locations: FREETOWN, Sierra Leone, United States, Britain, Ireland, Germany, France

Mali, where military authorities seized power in coups in 2020 and 2021, is battling a years-long Islamist insurgency. It has said Russian forces there are not Wagner mercenaries but trainers helping local troops with equipment bought from Russia. In February, French President Emmanuel Macron described the deployment of Wagner Group troops in Africa as the "life insurance of failing regimes in Africa" that will only sow misery. A suspension of Wagner operations in Africa could impact the group's finances. The group has cemented strong ties with several African governments over the past decade with operations in at least eight African nations, according to leaked U.S. documents, including Mali, Central African Republic, and Libya.

Persons: Wagner, Stringer, Bassirou Doumbia, Wagner's, Vladimir, Putin, Yvan Guichaoua, insurgencies, Emmanuel Macron, Edward McAllister, Bate Felix, Alessandra Prentice, Helen Popper Our Organizations: Southern Military District, REUTERS, Central African Republic, Kremlin, United Nations, Brussels School of International Studies, Central African, Wagner Group, West, United, Thomson Locations: Rostov, Don, Russia, Mali, Central, Africa, BAMAKO, BANGUI, Moscow, Malian, Russian, Central African Republic, Francophone Africa, France, United States, Ukraine, Libya

[1/6] Ballots are displayed at a polling station, after polls closed, on the day of the national election, in Freetown, Sierra Leone, June 24, 2023. The race is expected to be close between the incumbent and the All People's Congress' (APC) Samura Kamara, who narrowly lost to Bio in the last election in 2018. The main opposition APC also said their election representatives were attacked and intimidated in three districts, highlighting the tense backdrop to the vote. Inflation soared to its highest level in over 20 years in 2022, while the national Leone currency slumped 60% in value. Bio and Kamara reported small-scale attacks on their supporters ahead of election day, while the APC's recent questioning of the independence of election officials has raised tensions.

Persons: Cooper Inveen, Sierra Leone, Julius Maada Bio's, Samura Kamara, Abu Koroma, We've, Kandeh Yumkella, Mohamed Rahman Swaray, Kamara, Alessandra Prentice, Angus MacSwan, Ros Russell, Marguerita Choy Organizations: REUTERS, Reuters, Provisional, APC, World Bank, Thomson Locations: Freetown, Sierra Leone, FREETOWN, Sierra, Leone, Ukraine

Violations were found in 25-50% of audits reviewed, depending on the audit standard at issue, the SEC said. "Marcum neglected its essential gatekeeper function in service to its own growth," said SEC Chair Gary Gensler in a statement. The SEC found the deficiencies were not limited to Marcum's SPAC clients. In addition to the civil penalty, settlement requires Marcum undertake remedial actions including hiring an independent consultant to review its policies procedures and to abide by certain restrictions when taking on new clients. Reporting by Chris Prentice; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Marcum, Nikola, Gary Gensler, Chris Prentice, Conor Humphries Organizations: Nikola, U.S . Securities, Exchange Commission, SEC, SPACs, Marcum, DraftKings Inc, Thomson

BAMAKO, June 18 (Reuters) - Malians will vote on Sunday in a referendum on changing the constitution that the ruling military junta and regional powers have said will pave the way to elections and a return to civilian rule. "Now is the time to confirm our commitment to the new Mali," he added, wearing his trademark beret and military fatigues. They also say the proposed constitution hands excessive authority to the president including over the legislative process. "I am for a revision of the constitution but not this referendum. Writing by Alessandra Prentice; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Assimi Goita, Fousseini Ag Yehia, Alessandra Prentice, Andrew Heavens Organizations: West African, ECOWAS, Nations, West African Economic, Monetary Union, Thomson Locations: BAMAKO, Mali, Bamako, Saturday

☆ SEC enforcement chief rejects criticism of crypto crackdown
▼ + stars: | 2023-06-16 | by ( Chris Prentice | ) www.reuters.com time to read: +2 min

The regulator's heightened scrutiny of crypto firms comes in response to the industry's failure to comply with the agency's regulations, SEC enforcement director Gurbir Grewal said at a Rutgers University and Lowenstein Sandler LLP event in New York. "We have worked thoughtfully and incrementally in this space," Grewal said on Friday. The SEC began targeting initial coin sales as unregistered securities offerings, but has increasingly focused on crypto firms acting as unregistered exchanges and broker-dealers. The SEC last week sued Binance and Coinbase, two of the world's largest crypto exchanges, for allegedly breaking its rules. Coinbase has said the agency hardened its stance and became less willing to work with crypto firms in the wake of the FTX scandal in late 2022.

Persons: Gurbir Grewal, Lowenstein Sandler, Grewal, you'd, Binance, Coinbase, Chris Prentice, Nick Macfie Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Rutgers University, Lowenstein, Capitol, Democratic, Thomson Locations: New York, noncompliance

☆ Fed, SEC probing Goldman Sachs' role in Silicon Valley Bank's final days - WSJ
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

Silicon Valley Bank had booked a $1.8 billion loss on the sale of a bond portfolio to Goldman. "SVB engaged Goldman Sachs to assist with a proposed capital raise and sold the firm a portfolio of securities. Goldman had disclosed last month it was cooperating with government probes into its dealings with Silicon Valley Bank. In March, Reuters reported U.S. prosecutors were investigating the collapse of Silicon Valley Bank. Silicon Valley Bank's demise sent shockwaves through the industry and brought on the worst crisis for the sector in 15 years.

Persons: Goldman Sachs Group's, SVB, Goldman Sachs, Goldman, shockwaves, Niket, Saeed Azhar, Chris Prentice, Krishna Chandra Eluri, Maju Samuel Organizations: U.S . Federal Reserve, Securities and Exchange Commission, Silicon Valley Bank, Wall Street, Bank, Goldman, Reuters, Fed, SEC, Thomson Locations: Silicon, Bengaluru, New York

REUTERS/David SwansonJune 7 (Reuters) - Coinbase (COIN.O) Chief Executive Brian Armstrong on Wednesday hit back at the U.S Securities and Exchange Commission (SEC) Chair over the agency's lawsuit against the crypto exchange, calling him an "outlier," while also reassuring customers that their funds were safe. Crypto companies, including Coinbase, dispute that crypto tokens are securities and have repeatedly called for the SEC to create clear rules. SETTLEMENT BREAKDOWNLast July, Coinbase disclosed an SEC probe into its asset listing processes, staking programs and yield-generating products. Grewal said despite the lawsuit, Coinbase would still be interested in a dialogue with the SEC about how to bring cryptocurrency into the regulatory perimeter. "If there were an opportunity for a real conversation, of course we would take it up, but I want to be very clear: Coinbase is absolutely committed to defending itself in court," he said.

Persons: Brian Armstrong, David Swanson, Coinbase, Armstrong, Gary Gensler, Gensler, ” Armstrong, Binance, hasn’t, haven’t, Paul Grewal, Grewal, Hannah Lang, Manya Saini, Niket, Chris Prentice, Shounak Dasgupta, Michelle Price Organizations: Milken, Global Conference, REUTERS, U.S Securities and Exchange Commission, SEC, Bloomberg, Monday, CNBC, Reuters, U.S ., Appeals, Circuit, Thomson Locations: Beverly Hills , California, U.S, Solana, Cardano, Washington, Bengaluru

☆ Slump in global cashew demand pushes Ivory Coast industry to verge of collapse
▼ + stars: | 2023-06-05 | by ( Ange Aboa | ) www.reuters.com time to read: +3 min

Global demand for cashew nuts, eaten as snacks or used for cooking and desserts, has tumbled since the end of the coronavirus pandemic, driven by multiple factors, including consumer inflation and increased production. "No one wants to buy cashew, even if I ask for 150 CFA francs per kilogram ($0.24) instead of the farmgate price of 315 CFA francs. Dembele lost 20 million CFA francs ($33,000) during the 2022 season after buying nuts he could not resell to wholesale processors. Output rose from 400,000 tonnes in 2011 to 1 million tonnes in 2022, and is expected at the same level in 2023. In Bouake, the heart of the country's cashew processing industry, work has come to a near standstill as employers struggle to pay salaries.

Persons: Ange Aboa, Dembele, Ibrahim Coulibaly, Ivory Coast, Ganesh, Rajaraman, It's, Alessandra Prentice, Bate Felix, Ed Osmond Organizations: REUTERS, Ivory, Farmers, Global, CFA, Factories, Thomson Locations: Katiola, Ivory Coast, Korhogo, Bouake, Dakar

[1/5] A view of a ransacked supermarket Auchan, after Senegal opposition leader Ousmane Sonko was sentenced to prison in Dakar, Senegal June 3, 2023. REUTERS/Zohra BensemraDAKAR, June 3 (Reuters) - Streets filled with rubble and ransacked shops greeted residents of some Dakar neighbourhoods on Saturday - fallout from clashes between anti-government protesters and police that have gripped Senegal in recent days. Mobs smashed windows and looted at least two gas station shops overnight in Dakar's Ouakam and Ngor districts, while an Auchan supermarket in densely populated Grand Yoff was torched and ransacked. The unrest is the latest in a string of protests in Senegal, long considered one of West Africa's most stable democracies. The opposition is also concerned that President Macky Sall will try to bypass the two-term limit and run again in February elections.

Persons: Ousmane Sonko, Khadija, Ndiaye, Macky Sall, Edward McAllister, Bate Felix, Alessandra Prentice, Mark Potter Organizations: REUTERS, Thomson Locations: Senegal, Dakar, DAKAR, Dakar's, Ouakam, West

DAKAR, June 1 (Reuters) - Nine people were killed in Senegal on Thursday in clashes between riot police and supporters of opposition leader Ousmane Sonko after a court sentenced him to two years in jail, casting serious doubt on his chances of running for president next year. The justice ministry said the opposition leader could now be taken to prison at any time. Police remained stationed around his home Dakar as unrest flared in the capital and elsewhere after the verdict. But Sall's second term has been particularly turbulent for a country usually viewed as one of West Africa's strongest democracies. Separately, Sonko is appealing against a six-month suspended prison sentence for libel - an offence he also denies.

Persons: Ousmane Sonko, Sonko, Bamba Ciss, Sonko's, Antoine Felix Abdoulaye Diome, Abdou Karim Fofana, Ndiack Fall, Macky Sall, Sall, Ngouda Dione, Bate Felix, Diadie Ba, Edward McAllister, Sofia Christensen, Alessandra Prentice, Matthew Lewis, Andrew Heavens, Daniel Wallis Organizations: Police, REUTERS, University, Thomson Locations: DAKAR, Senegal, Dakar, Dakar Senegal, West, Lincoln

ACCRA, June 1 (Reuters) - Ghanaian labour unions have asked the government for time to assess a proposal presented on Thursday to restructure pension funds worth around 30 billion Ghanaian cedis ($2.7 billion). The majority of eligible holders of Ghana's local bonds participated in a domestic debt exchange in February. The pension funds were exempted after unions threatened to strike, but have now been offered their own deal. Thomas Kwesi Esso, executive secretary of the lobby group for the pension funds, told Reuters that the offer was an improvement and addresses liquidity concerns with the old bonds. Editing by Alessandra Prentice, Rachel Savage and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Abraham Koomson, ”, Thomas Kwesi, ” Anthony Yaw Baah, Alessandra Prentice, Rachel Savage, Leslie Adler Organizations: International Monetary Fund, Finance Ministry, Reuters, International Monetary, Thomson Locations: ACCRA

☆ Former SEC chief Harvey Pitt passes away at 78
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

May 31 (Reuters) - Harvey Pitt, a former chairman of the U.S. Securities and Exchange Commission, passed away on Tuesday, according to a statement from the director of the SEC Historical Society shared with Reuters. At the time, fellow SEC Commissioner Roel Campos said: "There has certainly never been anyone who loved this agency more than Chairman Pitt." Pitt was a graduate of St. John's University School of Law and the City University of New York, according to the SEC's website. He passed away on Tuesday, according to the statement from Jane Cobb, executive director of the SEC Historical Society. "Over the years, Harvey has been extremely generous with his time and sage advice," said Michael Piwowar, a former SEC commissioner.

Persons: Harvey Pitt, Pitt, George W, Bush, Roel Campos, Jane Cobb, Harvey, Michael Piwowar, Chris Prentice, Douglas Gillison, Niket, Shinjini Ganguli, Paul Simao Organizations: U.S . Securities, Exchange Commission, SEC Historical Society, Reuters, SEC, FBI, Enron, San Francisco Chronicle, Oxley, St, John's University School of Law, City University of New, Georgetown University, University of Pennsylvania, Kalorama Partners, Thomson Locations: City University of New York, Washington, New York, Bengaluru

☆ Senegal president promises fair election as tensions simmer
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

Sporadic violent protests have broken out across Senegal since opposition leader Ousmane Sonko was detained for alleged rape in 2021. Sonko's supporters say this is a tactic to bar him from the February presidential poll, which the government denies. Sall on Wednesday welcomed members of various parties, religious leaders and civil society to a multi-day national dialogue aimed at easing tensions and fostering dialogue. As a result, neither was able to run for president in 2019. Khalifa Sall attended Wednesday's dialogue and said he hoped the president's potential third term bid was up for discussion.

Persons: Macky Sall, Ousmane Sonko, Sonko's, Sall, Sonko, Anger, Khalifa Sall, Karim Wade, Abdoulaye Wade, Sofia Christensen, Alessandra Prentice, Ngouda Dione, Bate Felix, William Maclean Organizations: Dakar, Khalifa, Thomson Locations: DAKAR, Senegal, Sonko's, Dakar, Sall

Companies Coinbase Global Inc FollowMay 30 (Reuters) - A former product manager for Coinbase Global Inc (COIN.O) and his brother have agreed to settle U.S. Securities and Exchange Commission (SEC) charges related to insider trading of crypto asset securities. A lawyer for Ishan Wahi declined to comment on the settlement. Ishan Wahi was sentenced to two years in prison earlier this month. In January, Nikhil Wahi was sentenced to 10 months in prison. In pleading guilty to the criminal charges, Ishan Wahi said he did not believe any of the relevant tokens were securities.

Persons: Ishan Wahi, Nikhil Wahi, Gurbir Grewal, Nikhil, ”, Kanishka Singh, Chris Prentice, Hannah Lang, Bill Berkrot, Cynthia Osterman Organizations: Coinbase, Coinbase Global Inc, U.S, Securities, Exchange Commission, SEC, Thomson

They are among 90,000 people who have escaped to Chad since fighting broke out in Sudan in mid-April - a major extra burden on one of the world's poorest countries. Even before this emergency, Chad was hosting 600,000 refugees from its war-torn neighbours and grappling with a fourth consecutive year of acute food shortages. Overall, around 2.3 million people are in urgent need of food aid, the World Food Programme warned earlier in May. Squeezed into the open-air compound, the women cook together over small braziers in the sand as children play around them. Hamit said she tried to help "even the refugees who have set up shelters nearby .... they come to us for water".

☆ Former tennis pro helps children shine on court in Cameroon
▼ + stars: | 2023-05-22 | by ( Amindeh Blaise Atabong | ) www.reuters.com time to read: +2 min

Now she wakes up at 5 a.m. every day to start a round of workouts, practice sessions, and school classes alongside nine other girls and 22 boys boarding at the Oyebog Tennis Academy in the town of Souza. She caught the eye of former national champion Joseph Oyebog when she was in tears after losing a practice match, aged just eight. Since graduating from the academy, some beneficiaries have won scholarships for further training abroad, while more than 20 academy trainees have International Tennis Federation rankings. He won national tournaments and competed in the Davis Cup international men's team competition. It offers tennis training at little or no cost.

☆ World Bank suspends $1 bln worth of project funding in Congo
▼ + stars: | 2023-05-16 | by ( Sonia Rolley | ) www.reuters.com time to read: +3 min

The suspension will affect more than 600,000 beneficiaries, including victims of sexual violence, the World Bank told Congo's finance minister last week in a letter seen by Reuters. A World Bank spokesperson confirmed its authenticity. On May 4, Congolese President Felix Tshisekedi dissolved the structure, the "Social Fund of the Democratic Republic of Congo", by presidential order and created another public fund. A spokesperson for Congo's finance ministry said he was waiting for the go-ahead from the presidency before he could comment. Four of Congo's main opposition politicians wrote to the leaders of the International Monetary Fund, the World Bank and the African Development Bank last week asking them to conduct an audit of their funds in Congo, saying they suspected misuse.

ACCRA, May 14 (Reuters) - Ghana expects the International Monetary Fund to approve a first loan tranche of $600 million as soon as Wednesday, paving the way for disbursement within a week, Minister of State in the Finance Ministry Mohammed Amin Adam told Reuters on Sunday. Ghana is seeking $3 billion from the Fund to shore up its battered economy. On Friday, IMF Managing Director Kristalina Georgieva said Ghana's official creditors had provided the necessary financing assurances for the IMF Executive Board to look at signing off on the loan. Adam said he expected negotiations with both sets of creditors to go well once the IMF signs off on the loan. Adam said the government was also in talks with the African Development Bank for over $100 million for the stability fund.

☆ Mali rejects UN report on alleged execution of 500 villagers by troops
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +2 min

BAMAKO, May 14 (Reuters) - Mali's interim military government has rejected a United Nations human rights office report on the alleged execution of at least 500 people by Malian soldiers and unidentified foreign fighters during an operation last year. The report said Malian soldiers and foreign personnel descended in helicopters on the village of Moura on March 27 last year and opened fire on fleeing residents. Maiga said a state investigation into possible human rights violations during the operation was still ongoing, but repeated previous comments that Islamist fighters were killed rather than civilians. The U.N. report was based on interviews with victims and witnesses in the West African country, as well as forensic and satellite imagery. Malian authorities denied requests by the U.N. fact-finding team to access the village of Moura itself, it said.

☆ Ghana's main opposition party picks Mahama as 2024 presidential candidate
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +1 min

ACCRA, May 14 (Reuters) - Ghana’s main opposition party, the National Democratic Congress, voted overwhelmingly on Saturday to retain former president, John Mahama, as its leader for the 2024 presidential election. This is the third time Mahama will run for the top job in Ghana, one of Africa's most stable democracies. The upcoming presidential vote is expected to be keenly contested. Mahama, 64, secured 297,603 votes, representing 98.9% of votes cast, the electoral commission said early on Sunday. "I am humbled by the overwhelming vote of confidence reposed in me by the party," Mahama said shortly after the declaration.

WASHINGTON, May 10 (Reuters) - A U.S. accounting watchdog found unacceptable deficiencies in audits of U.S.-listed Chinese companies performed by KPMG in China and PricewaterhouseCoopers in Hong Kong, the government agency said on Wednesday. The deficiencies were so great that auditors failed to obtain enough evidence to substantiate companies' financial statements, PCAOB Chair Erica Williams told reporters on Wednesday. KPMG Huazhen in China said in a statement it has taken steps to address the issues the PCAOB had found. With its 2023 work, the PCAOB expects it will have inspected auditors representing 99% of the work in the region. The agency will continue to demand full access to do its work, Williams said.

WASHINGTON, May 10 (Reuters) - The U.S. Public Company Accounting Oversight Board (PCAOB) found unacceptable deficiencies in audits of U.S.-listed Chinese companies performed by KPMG in China and PriceWaterhouseCoopers in Hong Kong, the government agency said on Wednesday. The U.S. audit watchdog published the findings of its inspections after gaining access to Chinese company auditors' records for the first time last year following more than a decade of negotiations with Chinese authorities. The deficiencies were so great that auditors failed to obtain sufficient evidence to substantiate companies' financial statements, PCAOB Chair Erica Williams told reporters on Wednesday. The two firms represented 40% of the market share of U.S.-listed companies audited by Hong Kong and mainland China firms, she said. While the findings are consistent with what the agency usually discovers when gaining access to a foreign country's audit records for the first time, they will likely raise worries among global investors over the accuracy of U.S.-listed Chinese companies' public financial statements.

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