Author: Editorial Staff

BURKINA Faso has taken a significant step towards addressing its energy deficit, as the nation signed a memorandum of understanding (MOU) with the Russian state nuclear company Rosatom for the construction of a nuclear power plant. The MOU was signed in Moscow, marking a historic moment for the landlocked Sahel West African state. The Burkina Faso Ministry of Energy said the nuclear power plant would play a pivotal role in fulfilling the country’s energy requirements. According to a statement released by Burkina Faso’s energy ministry, the agreement was officially signed by Simon-Pierre Boussim, the Minister of Energy and Mines, and…

A COURT in Senegalese opposition leader Ousmane Sonko’s stronghold of Ziguinchor has ordered his reinstatement to electoral lists. The decision paves the way for Sonko to be a presidential candidate. The judge of the administrative court cancelled Sonko’s removal from the electoral lists on Thursday evening. It also ordered his reinstatement, making his eligible again. It is a first victory for Sonko in his legal battle against the state. The politician remains under arrest in hospital in Dakar following a 45-day hunger strike that ended early in September for health reasons. Sonko began the hunger strike on July 30 to protest at what he…

MADAGASCAR’S highest court, the High Constitutional Court, announced on Thursday that the upcoming presidential election, originally scheduled for November 9, will be postponed by a week. The decision comes in the wake of protests that erupted in the country, leading to injuries sustained by two prominent opposition candidates, Andry Raobelina and former president Marc Ravalomanana, during confrontations with security forces deploying tear gas grenades. The revised date for the presidential election is now set for November 16, with the potential runoff election remaining scheduled for November 20. Both Raobelina and Ravalomanana, key figures in the country’s political landscape, were harmed…

THE IMF hopes that Ghana will reach a debt restructuring agreement with bilateral creditors within six to eight weeks, an official at the Fund said, as the West African country battles to emerge from an economic crisis. An agreement to rework $5.4bn of debt to China and members of the Paris Club of creditor nations would pave the way for a second disbursement from a $3bn IMF rescue loan. IMF Africa department director Abebe Selassie said he hoped the fund’s Executive Board would be able to consider approving the payment before the end of the year. ‘Bilateral official debt is…

The IMF will do ‘whatever possible’ to support Kenya, its African Department Director Abebe Selassie said on Friday, as Fund staff were due to visit the East African country next week. Kenya’s central bank governor said this week that the country was discussing with the IMF ‘augmentation’ of its loan programme, potentially by asking the Fund for ‘exceptional access.’ Kamau Thugge also said Kenya was planning to buy back up to a quarter of its $2bn 2024 international bond after it secures new loans. If it were granted ‘exceptional access’ Kenya could ask for more than its limit of IMF…

ETHIOPIA has taken a significant step toward debt relief with assistance from China and is actively pursuing similar arrangements with other creditors. Annalisa Fedelino, Deputy Director of the International Monetary Fund’s Africa Department, shared this development in a statement to Reuters on Friday. Fedelino also revealed that the IMF is on the verge of finalising a loan programme agreement with Ethiopia. Once this agreement is in place, it is expected to expedite the process of restructuring the country’s debt under the Common Framework. She stated, ‘Policy discussions will continue, and most likely, we will need another mission. We hope to…

ETHIOPIA has strongly condemned a statement by the UN Under-Secretary-General and Special Adviser on the Prevention of Genocide, Alice Wairimu Nderitu, labelling it ‘irresponsible and reckless.’ In a statement issued by Ethiopia’s Permanent Mission to the United Nations, Addis Ababa expressed deep regret that Nderitu, entrusted with the crucial responsibility of preventing genocide, has made ‘unsubstantiated allegations and inflammatory remarks’ against the country. Ethiopia has emphasised that the UN report, on which the statement was based, lacks a comprehensive on-the-ground investigation and was compiled remotely from unreliable sources. The Ethiopian government is determined to ensure the full implementation of the…

A NEW battle for influence is emerging in Africa as the United States ramps up efforts to secure access to the continent’s critical minerals. These minerals, including cobalt and lithium, are essential for clean energy and electric vehicles, but are currently dominated by China’s processing infrastructure. At the Green Energy Africa Summit held in Cape Town during Africa Oil Week, attendees carefully navigated discussions about this growing competition between the US and China for Africa’s critical minerals. One of the panel’s speakers, Deputy Assistant Secretary Kimberly Harrington from the US State Department’s Bureau of Energy Resources, mentioned that Washington was…

THE African Oil Week conference, which concludes on Friday, has explored the impact of climate change and environmental considerations as African nations explore their natural gas reserves. Delegates from various East African countries emphasised that the gas reserves off the East Coast of Africa have notably lower carbon content compared to the global average, making the region highly attractive for global investors. According to Unni Fijaer, Vice President and Tanzania Country Manager for Equinor, a company currently developing offshore natural gas resources in Tanzania, gas derived from the East Coast of Africa boasts approximately one-third of the global average carbon…

ITALIAN Prime Minister Giorgia Meloni, alongside the head of Italian energy group Eni, expressed the remarkable potential represented by the gas fields discovered offshore Mozambique. Following a meeting with Mozambican President Filipe Nyusi, Meloni emphasised that state-controlled Eni serves as an exemplar of the economic cooperation between Italy and Mozambique. ‘We concur with President Nyusi that the gas fields discovered off Mozambique’s northern coast offer a substantial opportunity for the nation’s development, along with the enhancement of our bilateral relationship,’ stated Prime Minister Meloni. The gas field, known as the Coral field, situated in Mozambique’s offshore Rovuma basin, is estimated…