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 »

Explosions rocked Khartoum on Thursday, more than two months after fighting broke out between rival Sudanese generals, with each side accusing the other of attacks on civilians.Witnesses in the east of the capital reported artillery fire, while others in the northern suburbs said the force of heavy shelling from an army barracks shook the walls …

Sudan warring parties trade blame as fighting ragesThu, 22 Jun 2023 18:28:47 GMT Read More »

Copper-rich Zambia, the first African country to default on its debt during the Covid pandemic, on Thursday secured a deal from creditors to restructure its debt at a global finance summit in Paris.Here are five things to know about the southern African nation of 19.6 million inhabitants, which is a key target of China’s massive …

Five things to know about ZambiaThu, 22 Jun 2023 18:10:47 GMT Read More »

A group of wealthy nations and multilateral development banks have promised to mobilise 2.5 billion euros to help Senegal reduce its dependence on fossil fuels, President Macky Sall said Thursday.”Senegal has committed to increasing the share of electricity generated by renewable energy to 40 percent by 2030 with financing to the order of 2.5 billion …

Rich countries pledge $2.7 bn to decarbonise Senegal economyThu, 22 Jun 2023 15:42:06 GMT Read More »