Africa - Nomad Press

26 Jun

IMF Reaches Staff-Level Agreement with Guinea Bissau on Extended Credit Facility

admin0 CommentsAfricaGuinea Bissau, IMF

The IMF and Guinea Bissau have reached staff-level agreement on economic policies that could support the sixth review of the Extended Credit Facility (ECF). Once the review is approved by IMF Management and completed by the IMF Executive Board, Guinea Bissau will have access to about US$ 7.2 million; The authorities’ commitment to a range of difficult policy reforms is starting to show some results. They should persevere with their ambitious structural reform agenda to improve domestic revenue mobilization, strengthen expenditure controls, and improve governance; Economic growth is expected to be around 5 percent in 2024, while inflation should slow…

26 Jun

Afreximbank signs US$80 million for Zimbabwe’s CBZ Bank

admin0 CommentsAfricaAfrexim Bank, Zimbabwe

African Export-Import Bank (Afreximbank) is providing a US$60 million line of credit and a US$20 million Afreximbank Trade Facilitation Programme (AFTRAF) facility to CBZ Bank Limited, Zimbabwe’s largest bank. In two deals signed at the recently concluded Afreximbank Annual Meetings, the line of credit facility will strengthen financial intermediaries’ capacity to support SMEs through financing product and capacity building, indirectly support export-oriented Zimbabwean businesses and enable them to generate much-needed foreign exchange, thus easing the pressure on foreign currency in the country. The AFTRAF facility will enable CBZ Bank to issue letters of credit confirmed by Afreximbank at a time…

25 Jun

Uganda Renews Commitment to Combat Corruption

admin0 CommentsAfricaCorruption, Uganda

The NRM government has announced a renewed commitment to combating corruption within the civil service by emphasizing merit-based appointments and competitive examinations conducted by the Public Service Commission. In a recent address, President Yoweri Museveni highlighted that for a long time, the administration trusted that capable individuals were prudently handling finances, personnel, and procurement. However, it has become evident that many officials have failed in their duties. To address this betrayal, the government plans to collaborate with both victims of corruption and patriotic citizens to eradicate this menace, Museveni said. The government acknowledges that this approach has had mixed results…

24 Jun

USAID Announces $38 Million in Additional Humanitarian Aid for Sudan

admin0 CommentsAfricaSudan

USAID has announced plans to provide an additional $38 million in humanitarian assistance for the people of Sudan. This includes $23 million earmarked for the UN Children’s Fund (UNICEF) to support ongoing aid efforts for Sudanese children. Tyler Beckelman, USAID Deputy Assistant Administrator for Africa, revealed the funding at the "Unite with the Children of Sudan" event in Nairobi, Kenya, which was organized by USAID, UNICEF, and Save the Children. The event aimed to highlight the severe challenges faced by young Sudanese amid 14 months of war. This latest commitment raises the total U.S. government humanitarian assistance to over $1.4…

24 Jun

United Nations Mission in South Sudan (UNMISS) Intensifies Patrols

admin0 CommentsAfricaSouth Sudan, United Nations

The United Nations Mission in South Sudan (UNMISS) has intensified patrols and engagement with local authorities and security services in Unity state and the Ruweng Administrative Area (RAA) after cross-border clashes over the weekend resulted in a number of deaths, destroyed property, and the displacement of civilians. The violence is understood to have begun on 22 June when officials from Rubkona (Unity) travelled to Aliny in the neighbouring Ruweng Administrative Area to retrieve cattle stolen from their communities. During the planned handover of stolen stock, fighting broke out between the groups and an unverified number of people were killed. Following…

24 Jun

Sudan, Children Suffer More As The Conflict Rages

admin0 CommentsAfricaChildren, Save the Children, Sudan, Violence

The number of children killed, injured or facing other grave violations in Sudan soared six-fold in 2023 to a record high as a devastating conflict paralysed the country, highlighting the need for urgent global action to address this escalating crisis, Save the Children said. New UN data shows at least 1,721 grave violations against 1,526 children in 2023 – actions that cause significant harm or threaten children’s well-being and rights – a spike from 306 recorded in 2022. The cases documented in the UN’s Annual Report on Children and Armed Conflict included over 480 children killed, 764 maimed, and over…

24 Jun

New World Bank US$700 million Support to Egypt

admin0 CommentsAfricaEgypt, World Bank

The World Bank has announced US$700 million in Development Policy Financing (DPF) for the Government of Egypt to support the country to shift toward more private sector participation, better macroeconomic and fiscal resilience, and a greener growth trajectory. The “Generating Resilience, Opportunities, And Welfare for a Thriving Egypt” DPF is designed to help Egypt address short-term economic challenges while advancing the next generation of structural reforms to level the playing field to unleash private sector growth; build macroeconomic and fiscal resilience; and facilitate Egypt’s green transition, including by scaling up renewable energy and increasing efficiency in the electricity, water and…

24 Jun

Eritrea: Diaspora Commemorate Martyrs Day

admin0 CommentsAfricaEritrea, Nationals Commemorate Martyrs Day

Eritrean nationals in Kenya, Ethiopia, Zambia, Kuwait, and Norway marked Martyrs Day with fervent patriotic zeal. The commemorative event in Nairobi featured a walkathon, a candle vigil, and cultural and artistic programs, with participation from staff members of the Eritrean Embassy in Kenya and many nationals. During the occasion, Eritrea’s Ambassador to Kenya, Mr. Beyene Russom, delivered a speech focusing on the deep significance Martyrs Day holds for the Eritrean people. Mr. Dawit Hagos, acting chairman of the Eritrean community, commended those who participated in organizing the colorful event. In related news, nationals in Addis Ababa commemorated Martyrs Day with…

23 Jun

Zimbabwe announces flexible tax payments to bolster currency transition

admin0 CommentsAfricaDollar, Zimbabwe

In a move aimed at supporting the transition to the new Zimbabwe Gold (ZIG) currency, Finance and Economic Development Minister Mthuli Ncube has announced more flexible guidelines for the payment of corporate income tax. In a statement, Ncube said companies will now be able to pay their 2024 second quarter corporate income tax obligations on a 50/50 basis using both the local ZIG currency and foreign currency. This represents a departure from the previous requirement for tax payments to align with a company’s currency of trade. “The more stable economic environment ushered in by the new Zimbabwe Gold currency has…

22 Jun

ATMIS airlifts national examination materials to parts of Somalia

admin0 CommentsAfricaATMIS, Somalia

The African Union Transition Mission in Somalia (ATMIS) has successfully airlifted examination materials to over 21 locations, just days before the weeklong National High School Examinations are set to begin this Saturday. This timely operation ensures that all children, even in hard-to-reach areas, can fully participate in the upcoming national exams. At the request of the Ministry of Education, ATMIS Uganda and Burundi utility helicopters transported the exam materials from Mogadishu to four Federal Member States – Galmudug, Hirshabelle, Southwest, and Jubaland – as well as the Banadir region. The SRCC and Head of ATMIS, Ambassador Mohamed El-Amine Souef emphasised…