IBOV 183,476.86 ▼ 0.27% IPSA 11,255.90 ▼ 0.39% IPC MEX 64,992.23 ▲ 1.13% MERVAL 2,893,751 ▼ 1.57% COLCAP 2,584.72 ▼ 0.95% BVL PERÚ 59,934.37 ▲ 1.27% USD/BRL5.19▼ 0.12% USD/MXN17.68▼ 0.27% USD/CLP960.63▼ 0.27% USD/COP3,293▲ 0.20% USD/PEN3.39▼ 0.67% USD/ARS1,525▲ 0.30% USD/UYU40.21▲ 3.50% USD/PYG5,870▲ 2.23% USD/BOB12.17▲ 2.05% USD/DOP59.35▲ 0.25% USD/CRC450.87▲ 2.53% USD/GTQ7.64▲ 3.22% USD/HNL26.85▲ 0.31% USD/NIO36.62▲ 2.66% USD/VES853.52▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.77▲ 2.72% EUR/BRL5.91▲ 0.63% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 183,476.86 ▼ 0.27% IPSA 11,255.90 ▼ 0.39% IPC MEX 64,992.23 ▲ 1.13% MERVAL 2,893,751 ▼ 1.57% COLCAP 2,584.72 ▼ 0.95% BVL PERÚ 59,934.37 ▲ 1.27% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Africa Angola

Monday’s Africa Short News Roundup

By · July 8, 2024 · 5 min read

Africa Intelligence

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Stay updated with the latest significant stories from Africa, covering political developments, economic highlights, and more.

EU Allocates €25 Million to Modernize Angola’s Justice System

  • New Funding to Enhance Justice and Governance in Angola
  • The EU Ambassador Announces a Significant Increase in Support

The European Union (EU) has announced a new support program with €25 million in funding to modernize the justice sector in Angola and promote good governance.

According to the EU Ambassador to Angola, Rosário Bento Pais, this funding aims to improve the performance and professionalism of the justice system and its stakeholders in the African nation.

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UN Experts: Rwandan Troops Fighting Alongside M23 Rebels in the DRC

  • Report Reveals Rwandan Influence in the DRC Conflict
  • Kigali is accused of controlling rebel operations

Around 3,000 to 4,000 Rwandan soldiers are fighting alongside M23 rebels in the eastern Democratic Republic of the Congo (DRC), according to a UN experts’ report seen by AFP.

The report indicates that Kigali has “de facto control” over the rebels’ operations.

Since late 2021, the M23 rebellion has dominated North Kivu province. The group has seized vast areas, establishing a parallel regime in territories under its control.

Kinshasa accuses Rwanda of supporting the Tutsi-led M23 group. Kigali initially denied the accusations but has since remained silent.

The UN Security Council-commissioned report states that the “effective control and direction of Rwandan forces over M23 operations” makes Rwanda “responsible for M23 actions.”

NUPRC Partners with an Argentine Tech Firm to Reduce Gas Flaring

  • Innovative Modular Technology to Tackle Gas Flaring
  • Strategic Collaboration to Benefit Nigeria and Investors

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has partnered with Argentine tech company Galileo to reduce gas flaring in Nigeria’s oil and gas industry.

NUPRC Chief Executive, Gbenga Komolafe, stated that the collaboration would use innovative modular technology to support the Nigerian Gas Flare Commercialization Programme (NGFCP).

Komolafe highlighted that the program will benefit the nation and offer significant advantages to investors.

This initiative aligns with the Petroleum Industry Act’s mandate to implement the Gas Flare Act.

President Tinubu is re-elected as ECOWAS Chairman

  • The Nigerian Leader Secures a Second Term
  • ECOWAS Heads of State Support Tinubu’s Leadership

Nigerian President Bola Tinubu has been re-elected as Chairman of the ECOWAS Authority of Heads of State and Government for another year.

Tinubu’s first term ends on July 9, 2024. He was re-elected unanimously by fellow leaders at the 65th Ordinary Session in Abuja.

In his acceptance speech, Tinubu pledged to continue serving and building democratic values with fellow leaders.

Tinubu was initially elected as Chairman at the 63rd Ordinary Session in July last year in Bissau, Guinea-Bissau.

Moroccan Economy Grows by 2.9% in Q2 2024

  • Economic Growth Surpasses Q1 Performance
  • Secondary and Tertiary Sectors Drive Growth

Morocco’s economy grew by 2.9% in the second quarter of 2024, up from 2.5% in the first quarter.

The High Commission for Planning (HCP) reported this increase, attributing it to the secondary and tertiary sectors.

Early 2024 saw a significant slowdown in manufacturing, resulting in moderate growth for non-agricultural activities.

German Soldiers to Leave Niger by the End of August

  • Germany follows the US and France in the Niger withdrawal.
  • Bundeswehr Base in Niamey to Close by August 31

Following the withdrawal of French and American troops, German soldiers will leave Niger by the end of August.

German media, including Deutsche Welle and Der Spiegel, reported that the airbase in Niamey will close by August 31, 2024.

The German government confirmed it would not extend its military presence in Niger. The Bundeswehr plans an orderly withdrawal of its 40 soldiers stationed there.

Mali to Produce Ammunition and Armored Vehicles

  • The Defense Minister Announces Local Military Production
  • Mali Seeks Defense Self-Sufficiency with New Initiatives

Mali’s Defense Minister announced plans to boost defense self-sufficiency by producing military equipment locally.

Colonel Sadio Camara, speaking to the National Transitional Council (CNT), revealed Mali will soon start producing ammunition and assembling armored vehicles.

These projects are part of a broader strategy to modernize and strengthen Mali’s military capabilities.

Camara highlighted Mali’s military cooperation with countries like Russia, emphasizing freedom from external pressures in choosing partnerships.

South Africa and Egypt to Cooperate on the Gaza Conflict

  • Ramaphosa and al-Sisi agree on joint efforts.
  • Strengthening Continental Solidarity Amid the Gaza Crisis

South African President Cyril Ramaphosa and Egyptian President Abdel Fattah al-Sisi have agreed to cooperate on the Gaza crisis.

Presidential spokesperson Vincent Magwenya announced the agreement following a Sunday night phone call between the two leaders.

They committed to deepening fraternal ties and advancing continental solidarity in their efforts to address the situation in Gaza.

AfDB Funds “Transformative Road” in Comoros

  • A New Road to Boost Agriculture and Tourism
  • $30 million project celebrated by thousands

Comoros residents celebrate the completion of a crucial road, enhancing access to agricultural areas and tourist centers.

Thousands attended the inauguration of the $30 million road, funded by the African Development Bank (AfDB).

President Azali Assoumani and AfDB’s Dr. Akinwumi Adesina opened the 49.2-kilometer National Road 2 (RN2) on July 5, before the country’s 49th Independence Day celebrations.

Uganda: The Army’s Role in Private Security Questioned

  • Lawmakers Concerned Over Military-Run Security Services
  • NEC’s Private Security Involvement Sparks Debate

Ugandan legislators question the involvement of a UPDF-owned company in private security services, fearing public confusion.

Last year, the National Enterprise Corporation (NEC), the UPDF’s commercial arm, entered the private security sector, causing concern among MPs.

COSASE members raised the issue in a meeting with NEC’s director, Lt. Gen. James Mugira, on July 5, 2024.

Italy’s Mattei Plan Enhances Mozambique’s Agriculture

  • A New Agro-Food Center to Boost the Local Economy
  • The €38 million project supports food security and inclusion.

Italy signed an agreement to build an Agro-Food Centre (CAAM) in Manica, western Mozambique.

This key Mattei Plan project aims to develop a regional hub for agricultural transformation and distribution.

Funded by Italy’s Ministry of Foreign Affairs, the €38 million CAAM project supports Mozambique’s goals for food security, sustainable agriculture, and economic inclusion for women and youth.

Namibia’s Largest Oil and Gas Conference Returns in August

  • Conference to Attract Key Industry Stakeholders
  • Over 800 delegates are expected in Windhoek.

Following its successful debut, the Namibia Oil and Gas Conference will return to Windhoek from August 20–22, 2024.

The 2023 conference hosted over 800 delegates, fostering knowledge and innovation in the industry.

Siemens and PANA to Modernize Nigeria’s Power Sector

  • Strategic Collaboration to Boost Power Stability
  • Partnership to Create Jobs and Support Growth

Siemens and PANA Infrastructure announce a strategic collaboration to improve Nigeria’s electrical infrastructure.

This initiative aims to enhance power stability and create job opportunities in Nigeria. Combining their expertise, they plan to modernize Nigeria’s power sector.

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