Hope and relief spread across Zambia on Friday after foreign lenders agreed to restructure part of the country’s debt, a win for president Hakainde Hichilema who was elected on a promise to strengthen a buckling economy.Zambia, whose total debt amounts to $32.8 billion, defaulted on its $18.6-billion foreign debt in 2020 at the height of …
Cheers in Zambia after landmark debt dealFri, 23 Jun 2023 14:51:13 GMT Read More »
A global climate summit wrapped up Friday with a “consensus” that the international financial system was woefully inadequate in an era of global warming, after taking small steps to helping debt-burdened developing nations.While host country France pitched the conference as a consensus-building exercise, leaders were under pressure to produce clear outcomes from the two-day meeting as …
Big ideas but small steps at climate finance summitFri, 23 Jun 2023 11:43:41 GMT Read More »
Camps for people fleeing jihadist conflict in northeast Nigeria have become overwhelmed after the authorities closed a dozen of the sites over the past year to try to prompt families to return home. For Aisha Usman, who is among those displaced by violence, the situation has made it harder and harder to feed her large family.For …
Nigeria’s displacement camps overwhelmed amid closuresFri, 23 Jun 2023 10:25:10 GMT Read More »
Jubilant lawmakers in Lusaka sang Zambia’s national anthem on Friday after foreign lenders agreed to restructure part of the country’s debt, a move that entrepreneurs said brought hope for the crippled economy.Zambia defaulted on its $18.6-billion foreign debt in 2020 at the height of the Covid pandemic.The restructuring deal, covering around a third of the …
Cheers in Zambia after landmark debt dealFri, 23 Jun 2023 09:45:14 GMT Read More »
Kenyan President William Ruto does not hold back when describing the global lending system: it is “unfair, it’s punitive, it doesn’t give everybody a fair chance”.Ruto made his blunt assessment in an interview with AFP on the sidelines of a two-day summit in Paris seeking to revamp the international financial order to better help developing …
Kenyan president slams ‘unfair’ global lending systemFri, 23 Jun 2023 09:21:13 GMT Read More »
A global summit seeking to overhaul the international financial system wraps up Friday after taking small steps towards easing the debt burden of developing nations weighed down by climate and economic crises.While host country France pitched the conference as a consensus-building exercise, leaders are under pressure to produce clear outcomes from the two-day meeting as …
Climate finance summit wraps up eyeing bigger progressFri, 23 Jun 2023 07:34:17 GMT Read More »
It is shortly after sunrise, and Peter Mudenda looks for elephant tracks on a dirt road surrounded by mopane trees.Once a farmer, the 49-year-old gave up the plough several years ago when a massive forest protection project was launched in Binga, a remote semi-arid district in northern Zimbabwe.He now makes a living digging fireguards, taking …
Zimbabwe’s carbon credit takeover spooks locals, investorsFri, 23 Jun 2023 07:29:06 GMT Read More »
An outbreak of violence in Senegal is having a ricochet effect on the country’s sheep herders ahead of a Muslim festival which is a peak time for business.The deadliest clashes in years broke out in the capital Dakar on June 1 after opposition leader Ousmane Sonko was sentenced to two years’ jail, casting a pall …
Senegal unrest stokes instability for sheep farmersFri, 23 Jun 2023 06:36:39 GMT Read More »
Her nephew shared the harrowing tale of how she died.The 45-year-old mother of five had not eaten in days and begged for a sip of water as she lay dying in a hospital in Ethiopia’s war-scarred Tigray region.She struggled to swallow, her muscles weakened from prolonged starvation, as droplets dribbled down her chin, he said.She …
Hunger devastates Ethiopia’s Tigray as food aid haltedFri, 23 Jun 2023 06:13:54 GMT Read More »
A Dutch court has ruled that Isabel dos Santos, the daughter of Angola’s late former president, illegally diverted 52 million euros from the southwestern African nation’s state oil company.Dos Santos funnelled the cash into a firm she owned with her husband, said the finding by the Amsterdam-based Enterprise Chamber, which was dated June 15 but …
Dutch court says Angola’s dos Santos diverted millionsThu, 22 Jun 2023 19:33:38 GMT Read More »
