IBOV 173,714.08 ▼ 0.06% IPSA 10,886.14 ▼ 0.56% IPC MEX 66,615.43 ▲ 0.39% MERVAL 3,199,934 ▲ 0.46% COLCAP 2,298.34 ▲ 0.58% BVL PERÚ 57,220.16 — — USD/BRL5.11▼ 0.03% USD/MXN17.52▼ 0.11% USD/CLP931.20▲ 0.67% USD/COP3,256▲ 0.14% USD/PEN3.39▼ 0.03% USD/ARS1,478▼ 0.03% USD/UYU40.23▲ 1.49% USD/PYG6,032▲ 1.38% USD/BOB10.65▲ 0.95% USD/DOP58.36▲ 0.10% USD/CRC446.12▲ 0.89% USD/GTQ7.62▲ 2.27% USD/HNL26.73▲ 0.32% USD/NIO 36.62 — 0.00% USD/VES735.09▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.36% USD/TTD6.74▲ 1.17% EUR/BRL5.84▼ 0.15% BRENT 90.33 ▲ 2.53% WTI 83.69 ▲ 1.45% IRON ORE 161.91 — — COPPER 6.26 ▲ 0.71% GOLD 4,003 ▼ 0.23% SILVER 56.70 ▲ 1.17% SOY 1,211 ▲ 0.52% CORN 471.25 ▲ 5.96% WHEAT 683.50 ▲ 0.11% COFFEE 304.70 ▼ 5.17% SUGAR 14.82 ▲ 2.63% ORANGE JUICE 139.35 ▲ 4.15% COTTON 78.93 ▲ 1.60% COCOA 5,753 ▲ 10.30% BEEF 220.70 ▼ 2.81% CATTLE 339.35 ▼ 2.09% LITHIUM 68.38 ▼ 0.70% PETR4 40.90 ▲ 2.53% VALE3 72.94 ▼ 0.05% ITUB4 41.96 ▼ 1.39% BBDC4 18.29 ▼ 0.65% ABEV3 15.63 ▲ 0.19% BBAS3 20.49 ▼ 1.30% B3SA3 15.20 ▼ 1.23% WEGE3 43.63 ▲ 0.32% PRIO3 57.85 ▲ 1.87% SUZB3 41.93 ▲ 0.55% RENT3 38.23 ▼ 1.62% AZZA3 18.59 ▲ 0.32% CSAN3 3.84 ▼ 1.03% RAIZ4 0.29 — 0.00% PCAR3 2.60 ▲ 0.39% GMAT3 3.88 ▼ 1.02% PSSA3 55.14 ▼ 0.14% CVCB3 1.22 ▼ 9.63% POSI3 3.80 ▼ 2.06% SLCE3 13.53 ▼ 0.59% NATU3 8.55 ▼ 0.12% BRKM5 6.19 ▲ 1.48% RANI3 7.95 ▼ 1.61% CSNA3 5.05 ▼ 0.98% CMIN3 5.33 ▼ 2.20% USIM5 8.23 ▲ 4.18% GGBR4 24.04 ▲ 0.54% ENEV3 25.68 ▼ 1.04% CPFE3 46.87 ▼ 0.68% CMIG4 11.12 ▲ 0.27% EQTL3 39.50 ▼ 0.88% LREN3 13.42 ▼ 1.69% VIVT3 35.52 ▲ 0.14% RAIL3 13.70 ▼ 1.65% KLABIN 17.58 ▲ 1.27% RAIA DROGASIL 18.55 ▲ 0.16% RDOR3 35.78 ▼ 0.25% HAPV3 11.38 ▲ 3.93% FLRY3 16.59 ▲ 1.04% SMTO3 15.45 ▼ 1.72% UGPA3 32.07 ▲ 0.25% VBBR3 34.92 ▲ 1.60% BBSE3 41.12 ▼ 0.15% BPAC11 56.18 ▼ 0.72% CURY3 30.67 ▼ 1.98% AERI3 2.02 — 0.00% VIVARA 22.44 ▼ 3.90% COMPASS 24.88 ▼ 0.12% VAMOS 3.17 ▲ 0.32% SANB11 26.65 ▼ 0.67% ASAI3 8.50 ▼ 0.70% SBSP3 29.22 ▼ 0.27% WALMEX 49.52 ▼ 0.08% GMEXICO 200.05 ▲ 0.41% FEMSA 225.68 ▲ 0.28% CEMEX 22.69 ▼ 0.40% GFNORTE 181.34 ▲ 0.53% BIMBO 58.00 ▲ 0.14% TELEVISA 9.57 ▲ 0.63% AMX 23.00 ▲ 0.97% GAP 386.00 ▼ 1.47% ASUR 279.71 ▼ 0.44% OMA 230.06 ▼ 1.30% KOF 181.10 ▲ 1.20% GRUMA 287.32 ▲ 0.34% KIMBER 38.67 ▼ 0.28% SQM-B 65,450 ▼ 0.91% COPEC 6,250 ▲ 2.02% BSANTANDER 77.00 ▼ 1.48% FALABELLA 5,835 ▼ 0.31% ENELAM 84.04 ▼ 0.90% CENCOSUD 1,995 ▼ 0.50% CMPC 1,070 ▼ 0.37% BANCO CHILE 188.50 ▼ 0.20% LATAM AIR 24.76 ▼ 2.52% YPF 77,900 ▲ 2.40% GGAL 7,860 ▼ 0.06% PAMPA 5,170 ▲ 1.17% TXAR 665.00 ▲ 0.45% ALUAR 949.50 ▲ 1.01% TGS 9,370 ▼ 0.16% CEPU 2,264 ▲ 0.18% MIRGOR 16,875 ▲ 0.75% COME 43.84 ▼ 1.39% LOMA NEGRA 3,535 ▼ 0.63% BYMA 299.00 ▼ 0.83% TELECOM ARG 4,150 ▼ 0.72% ECOPETROL 16.09 ▲ 1.84% BANCOLOMBIA 80.41 ▲ 1.18% GRUPO AVAL 4.92 ▼ 1.01% CREDICORP 390.70 ▲ 0.84% SOUTHERN COPPER 172.48 ▼ 1.81% BUENAVENTURA 30.24 ▲ 0.23% MERCADOLIBRE 1,814 ▼ 2.34% NUBANK 13.59 ▼ 1.45% XP 16.67 ▼ 0.06% PAGSEGURO 9.04 ▼ 1.20% STONE 11.15 ▼ 0.45% GLOBANT 32.23 ▲ 0.09% TECNOGLASS 46.48 ▼ 0.75% GAP AIRPORT 220.91 ▼ 1.94% ASUR 279.71 ▼ 0.44% OMA AIRPORT 105.31 ▼ 1.77% AMX ADR 26.27 ▲ 0.50% FEMSA ADR 129.02 ▼ 0.36% CEMEX ADR 12.98 ▼ 0.92% PETROBRAS ADR 17.97 ▲ 2.86% VALE ADR 14.19 ▼ 0.21% ITAU ADR 8.21 ▼ 1.14% SANTANDER BR 5.24 ▼ 1.04% AMBEV ADR 3.03 ▼ 0.66% CSN 0.99 ▼ 0.89% GERDAU 4.73 ▲ 0.11% LATAM ADR 52.56 ▼ 1.17% BTC 64,877 ▲ 0.12% ETH 1,879 ▲ 0.97% SOL 76.88 ▲ 1.88% XRP 1.10 ▲ 0.91% BNB 570.80 ▲ 0.09% ADA 0.17 ▼ 0.25% DOGE 0.07 ▲ 0.26% AVAX 6.57 ▼ 0.03% LINK 8.47 ▲ 1.52% DOT 0.81 ▼ 2.63% LTC 47.27 ▲ 0.57% BCH 212.89 ▼ 3.28% TRX 0.33 ▲ 0.31% XLM 0.19 ▲ 0.44% HBAR 0.07 ▼ 1.32% NEAR 1.92 ▼ 0.65% ATOM 1.47 ▼ 2.17% AAVE 89.37 ▼ 0.59% SELIC 14.25% EMBRAER 81.75 ▼ 0.02% EMBRAER ADR 64.09 ▼ 0.44% JBS 11.91 ▼ 1.00% JBS BDR 60.20 ▼ 2.11% MBRF3 15.03 ▼ 1.70% MBRFY 2.90 ▼ 1.02% INTER 5.37 ▼ 3.07% EGX 52,560 — 0.00% USD/ZAR16.53▲ 0.23% USD/NGN 1,378 — 0.00% NIKKEI 64,141 ▼ 4.03% CSI300 4,608 ▲ 1.75% HSI 25,029 ▲ 1.90% NIFTY 24,334 ▲ 1.09% KOSPI 6,631 ▼ 2.78% JCI 6,176 ▲ 1.10% USD/JPY 162.36 — 0.00% USD/CNY6.77▼ 0.06% DAX 24,831 ▼ 0.34% CAC 8,339 ▼ 0.47% FTSE 10,600 ▲ 0.27% MIB 51,882 ▼ 0.94% IBEX 19,217 ▼ 0.45% STOXX 641.53 ▼ 0.34% EUR/USD1.14— 0.00% GBP/USD1.35▲ 0.03% SPX 7,458 ▼ 1.01% DJI 52,146 ▼ 0.77% NDX 28,593 ▼ 1.49% RUT 2,962 ▼ 0.42% TSX 35,264 ▼ 0.22% VIX 18.77 ▲ 12.19% USD/CAD1.40▼ 0.11% US10Y 4.5410 ▼ 0.61% IBOV 173,714.08 ▼ 0.06% IPSA 10,886.14 ▼ 0.56% IPC MEX 66,615.43 ▲ 0.39% MERVAL 3,199,934 ▲ 0.46% COLCAP 2,298.34 ▲ 0.58% BVL PERÚ 57,220.16 — — USD/BRL 5.11 ▼ 0.03% USD/MXN 17.52 ▼ 0.11% USD/CLP 931.20 ▲ 0.67% USD/COP 3,256 ▲ 0.14% USD/PEN 3.39 ▼ 0.03% USD/ARS 1,478 ▼ 0.03% USD/UYU 40.23 ▲ 1.49% USD/PYG 6,032 ▲ 1.38% USD/BOB 10.65 ▲ 0.95% USD/DOP 58.36 ▲ 0.10% USD/CRC 446.12 ▲ 0.89% USD/GTQ 7.62 ▲ 2.27% USD/HNL 26.73 ▲ 0.32% USD/NIO 36.62 — 0.00% USD/VES 735.09 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.36% USD/TTD 6.74 ▲ 1.17% EUR/BRL 5.84 ▼ 0.15% BRENT 90.33 ▲ 2.53% WTI 83.69 ▲ 1.45% IRON ORE 161.91 — — COPPER 6.26 ▲ 0.71% GOLD 4,003 ▼ 0.23% SILVER 56.70 ▲ 1.17% SOY 1,211 ▲ 0.52% CORN 471.25 ▲ 5.96% WHEAT 683.50 ▲ 0.11% COFFEE 304.70 ▼ 5.17% SUGAR 14.82 ▲ 2.63% ORANGE JUICE 139.35 ▲ 4.15% COTTON 78.93 ▲ 1.60% COCOA 5,753 ▲ 10.30% BEEF 220.70 ▼ 2.81% CATTLE 339.35 ▼ 2.09% LITHIUM 68.38 ▼ 0.70% PETR4 40.90 ▲ 2.53% VALE3 72.94 ▼ 0.05% ITUB4 41.96 ▼ 1.39% BBDC4 18.29 ▼ 0.65% ABEV3 15.63 ▲ 0.19% BBAS3 20.49 ▼ 1.30% B3SA3 15.20 ▼ 1.23% WEGE3 43.63 ▲ 0.32% PRIO3 57.85 ▲ 1.87% SUZB3 41.93 ▲ 0.55% RENT3 38.23 ▼ 1.62% AZZA3 18.59 ▲ 0.32% CSAN3 3.84 ▼ 1.03% RAIZ4 0.29 — 0.00% PCAR3 2.60 ▲ 0.39% GMAT3 3.88 ▼ 1.02% PSSA3 55.14 ▼ 0.14% CVCB3 1.22 ▼ 9.63% POSI3 3.80 ▼ 2.06% SLCE3 13.53 ▼ 0.59% NATU3 8.55 ▼ 0.12% BRKM5 6.19 ▲ 1.48% RANI3 7.95 ▼ 1.61% CSNA3 5.05 ▼ 0.98% CMIN3 5.33 ▼ 2.20% USIM5 8.23 ▲ 4.18% GGBR4 24.04 ▲ 0.54% ENEV3 25.68 ▼ 1.04% CPFE3 46.87 ▼ 0.68% CMIG4 11.12 ▲ 0.27% EQTL3 39.50 ▼ 0.88% LREN3 13.42 ▼ 1.69% VIVT3 35.52 ▲ 0.14% RAIL3 13.70 ▼ 1.65% KLABIN 17.58 ▲ 1.27% RAIA DROGASIL 18.55 ▲ 0.16% RDOR3 35.78 ▼ 0.25% HAPV3 11.38 ▲ 3.93% FLRY3 16.59 ▲ 1.04% SMTO3 15.45 ▼ 1.72% UGPA3 32.07 ▲ 0.25% VBBR3 34.92 ▲ 1.60% BBSE3 41.12 ▼ 0.15% BPAC11 56.18 ▼ 0.72% CURY3 30.67 ▼ 1.98% AERI3 2.02 — 0.00% VIVARA 22.44 ▼ 3.90% COMPASS 24.88 ▼ 0.12% VAMOS 3.17 ▲ 0.32% SANB11 26.65 ▼ 0.67% ASAI3 8.50 ▼ 0.70% SBSP3 29.22 ▼ 0.27% WALMEX 49.52 ▼ 0.08% GMEXICO 200.05 ▲ 0.41% FEMSA 225.68 ▲ 0.28% CEMEX 22.69 ▼ 0.40% GFNORTE 181.34 ▲ 0.53% BIMBO 58.00 ▲ 0.14% TELEVISA 9.57 ▲ 0.63% AMX 23.00 ▲ 0.97% GAP 386.00 ▼ 1.47% ASUR 279.71 ▼ 0.44% OMA 230.06 ▼ 1.30% KOF 181.10 ▲ 1.20% GRUMA 287.32 ▲ 0.34% KIMBER 38.67 ▼ 0.28% SQM-B 65,450 ▼ 0.91% COPEC 6,250 ▲ 2.02% BSANTANDER 77.00 ▼ 1.48% FALABELLA 5,835 ▼ 0.31% ENELAM 84.04 ▼ 0.90% CENCOSUD 1,995 ▼ 0.50% CMPC 1,070 ▼ 0.37% BANCO CHILE 188.50 ▼ 0.20% LATAM AIR 24.76 ▼ 2.52% YPF 77,900 ▲ 2.40% GGAL 7,860 ▼ 0.06% PAMPA 5,170 ▲ 1.17% TXAR 665.00 ▲ 0.45% ALUAR 949.50 ▲ 1.01% TGS 9,370 ▼ 0.16% CEPU 2,264 ▲ 0.18% MIRGOR 16,875 ▲ 0.75% COME 43.84 ▼ 1.39% LOMA NEGRA 3,535 ▼ 0.63% BYMA 299.00 ▼ 0.83% TELECOM ARG 4,150 ▼ 0.72% ECOPETROL 16.09 ▲ 1.84% BANCOLOMBIA 80.41 ▲ 1.18% GRUPO AVAL 4.92 ▼ 1.01% CREDICORP 390.70 ▲ 0.84% SOUTHERN COPPER 172.48 ▼ 1.81% BUENAVENTURA 30.24 ▲ 0.23% MERCADOLIBRE 1,814 ▼ 2.34% NUBANK 13.59 ▼ 1.45% XP 16.67 ▼ 0.06% PAGSEGURO 9.04 ▼ 1.20% STONE 11.15 ▼ 0.45% GLOBANT 32.23 ▲ 0.09% TECNOGLASS 46.48 ▼ 0.75% GAP AIRPORT 220.91 ▼ 1.94% ASUR 279.71 ▼ 0.44% OMA AIRPORT 105.31 ▼ 1.77% AMX ADR 26.27 ▲ 0.50% FEMSA ADR 129.02 ▼ 0.36% CEMEX ADR 12.98 ▼ 0.92% PETROBRAS ADR 17.97 ▲ 2.86% VALE ADR 14.19 ▼ 0.21% ITAU ADR 8.21 ▼ 1.14% SANTANDER BR 5.24 ▼ 1.04% AMBEV ADR 3.03 ▼ 0.66% CSN 0.99 ▼ 0.89% GERDAU 4.73 ▲ 0.11% LATAM ADR 52.56 ▼ 1.17% BTC 64,877 ▲ 0.12% ETH 1,879 ▲ 0.97% SOL 76.88 ▲ 1.88% XRP 1.10 ▲ 0.91% BNB 570.80 ▲ 0.09% ADA 0.17 ▼ 0.25% DOGE 0.07 ▲ 0.26% AVAX 6.57 ▼ 0.03% LINK 8.47 ▲ 1.52% DOT 0.81 ▼ 2.63% LTC 47.27 ▲ 0.57% BCH 212.89 ▼ 3.28% TRX 0.33 ▲ 0.31% XLM 0.19 ▲ 0.44% HBAR 0.07 ▼ 1.32% NEAR 1.92 ▼ 0.65% ATOM 1.47 ▼ 2.17% AAVE 89.37 ▼ 0.59% SELIC 14.25% EMBRAER 81.75 ▼ 0.02% EMBRAER ADR 64.09 ▼ 0.44% JBS 11.91 ▼ 1.00% JBS BDR 60.20 ▼ 2.11% MBRF3 15.03 ▼ 1.70% MBRFY 2.90 ▼ 1.02% INTER 5.37 ▼ 3.07% EGX 52,560 — 0.00% USD/ZAR 16.53 ▲ 0.02% USD/NGN 1,378 — 0.00% NIKKEI 64,141 ▼ 4.03% CSI300 4,608 ▲ 1.75% HSI 25,029 ▲ 1.90% NIFTY 24,334 ▲ 1.09% KOSPI 6,631 ▼ 2.78% JCI 6,176 ▲ 1.10% USD/JPY 162.36 — 0.00% USD/CNY 6.7731 ▲ 0.08% DAX 24,831 ▼ 0.34% CAC 8,339 ▼ 0.47% FTSE 10,600 ▲ 0.27% MIB 51,882 ▼ 0.94% IBEX 19,217 ▼ 0.45% STOXX 641.53 ▼ 0.34% EUR/USD 1.1439 ▼ 0.06% GBP/USD 1.3454 ▲ 0.01% SPX 7,458 ▼ 1.01% DJI 52,146 ▼ 0.77% NDX 28,593 ▼ 1.49% RUT 2,962 ▼ 0.42% TSX 35,264 ▼ 0.22% VIX 18.77 ▲ 12.19% USD/CAD 1.4007 ▼ 0.08% US10Y 4.5410 ▼ 0.61%
since 2009
Monday, July 20, 2026

Monday’s African Short News Roundup

By · July 15, 2024 · 6 min read

Africa Intelligence

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Welcome to The Rio Times’ daily African news roundup. We bring you the latest and most significant stories to keep you informed about the continent’s current events.

From political updates to cultural highlights, we ensure you stay updated on Africa’s dynamic landscape. Here are today’s top headlines.

Niger: New Sabotage of an Oil Pipeline Marks a Major Blow for Niamey

Niger has experienced another sabotage of the Agadem pipeline, severely impacting its economy and energy security.

On the night of July 13–14, 2024, the pipeline connecting the Agadem oil field to the port of Cotonou in Benin was sabotaged for the third time in less than a month.

This latest attack, near Muntseka village, about 335 km from Niamey, caused a significant oil spill and raised concerns about the security of this crucial infrastructure.

Corruption in Nigeria: A Report Reveals the Persistent Reality

Despite a notable decline, corruption remains deeply entrenched in Nigeria, according to a joint report with the United Nations. The report revealed that over €1.2 billion in bribes were paid in 2023.

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While this is a slight decrease from 2019, indicating growing awareness among Nigerians, bribery remains widespread, especially in the public sector.

The study found that one in four Nigerians could not afford to pay bribes in 2023, contributing to the decline. The average bribe amount was 8,200 naira (approximately $6).

Ethiopia, Sudan Inch Closer to Face Common Problem: Paramilitary RSF

Ethiopia and Sudan are enhancing cooperation as they face the mutual challenge of the Rapid Support Forces (RSF).

Ethiopian Prime Minister Abiy Ahmed visited Port Sudan, the military junta’s provisional capital, to show solidarity with the Sudanese people.

Abiy and Gen. Abdel-Fattah al-Burhan discussed tackling common challenges, indicating a shift towards stronger ties between the two nations amidst ongoing conflicts.

Rwandans Vote ‘Smoothly’ in Election Expected to Extend Kagame’s Rule

Rwandans lined up to vote on Monday to elect their president, with incumbent Paul Kagame, 66, expected to secure another term.

Kagame, who has ruled Rwanda for nearly 25 years, previously won over 93% of votes in past elections.

Eight candidates applied to run against him, but only two were allowed by the electoral commission.

Voters expressed support for Kagame, citing his role in rebuilding the country after the 1994 genocide.

UAE Lifts Its 21-Month Visa Ban on Nigerians

The UAE has lifted a 21-month visa ban on Nigerians, introducing new rules requiring digital verification for Nigerian passport holders.

Nigeria’s information minister, Mohammed Idris, announced that the ban, in place since October 2022, was lifted after negotiations between the two governments.

Applicants must now provide identity documents and travel history for visa applications, except for those under 13 years old.

Mozambique: Electricity Production at Cahora Bassa Increases by Nearly 5% Until June

Electricity production at Mozambique’s Cahora Bassa Hydroelectric Plant (HCB) increased by nearly 5% in the first half of 2024 compared to the same period in 2023, reaching 8,396.38 GWh.

The HCB noted low storage levels, with the dam at 316.98 meters, equivalent to 59.2% of its usable capacity as of June 30, 2024. The production exceeded the planned amount by 3.44%.

Mali: Government Announces Mining Reforms

Mali’s government, led by President of the Transition, Colonel Assimi Gota, announced several decrees on July 10 to strengthen the mining sector’s legislative framework.

The reforms include procedures for applying mining laws and standard agreements for research and exploitation phases.

Additionally, Mali has signed a strategic agreement with Uranium One Group, a subsidiary of Russia’s Rosatom.

The agreement aims to develop the Bougoula lithium permit, with plans to transform lithium concentrate into batteries on-site.

Morocco: Strengthening Military Cooperation with the USA

The U.S. Department of Defense announced that Lockheed Martin secured a $227 million contract.

Additionally, the contract is for supplying Morocco with ATACMS long-range guided missiles, compatible with the HIMARS launcher.

This contract, part of the Foreign Military Sales program for 2024, is expected to be completed by 2028.

However, this deal enhances Morocco’s military capabilities, reflecting a long-standing strategic partnership between Rabat and Washington on defense and security.

Dangote Refinery to Be Listed on the Nigerian Stock Exchange in 2025

Alhaji Aliko Dangote, CEO of Dangote Industries Limited, announced that the Dangote oil refinery would be listed on the Nigerian Stock Exchange in March 2025.

After resolving crude oil supply issues with the Nigerian National Petroleum Company Limited (NNPCL) and the government, the refinery is set to start oil production in August 2024.

The Nigerian government holds 7.2% of the refinery’s shares, contrary to the previously announced 20%.

Somalia’s Financial System Accomplishes 10-Year Milestone (PM)

Prime Minister Hamsa Abdi Barre celebrated Somalia’s financial system’s achievements over the past decade, noting its role in debt forgiveness and economic development.

Speaking at an event, PM Barre highlighted the system’s maturation, which led to the lifting of the arms ban and joining regional markets.

He thanked the Ministry of Finance and experts for their efforts and urged continued progress towards future milestones.

Tanzania Asks Tourists to Pay Using Local Currency

Tanzania’s Ministry of Tourism and Natural Resources mandated that all tourism sector fees be paid in local currency, the Tanzanian shilling.

This directive, covering business license fees, filming permits, and visiting fees, follows a government order for all transactions to be in local currency.

Payments previously made in dollars will be converted based on the Bank of Tanzania’s exchange rate, with the new system fully in place by August 1, 2024.

Botswana Economy to Grow by One Percent in 2024: IMF

The International Monetary Fund (IMF) forecasted Botswana’s economy to grow by one percent in 2024, continuing its slowdown due to challenges in the diamond sector.

IMF Africa Division chief Luc Eyraud noted that Botswana’s economy contracted to 2.7% in 2023 from 5.5% in 2022.

The slowdown is attributed to decreased diamond production, partially offset by construction projects. Growth is expected to stabilize at around 4% as diamond mining recovers.

Kenya to Cut Spending by Nearly 2% in Revised Budget

Kenya plans to reduce its 2024–25 spending by 1.9% and increase the fiscal deficit to 3.6% of GDP, following the rollback of tax hikes due to protests.

President William Ruto, responding to calls for his resignation, dismissed most of his cabinet and proposed spending cuts and additional borrowing to address a $2.7 billion budget gap.

Lawmakers will debate the revised budget, which includes reduced recurrent and development expenditures.

Guinea-Bissau: Journalists’ Union Calls for Boycott of Presidential Activities

The Sindicato dos Jornalistas e Técnicos de Comunicação Social da Guiné-Bissau (Sinjotecs) called for a boycott of presidential activities.

This follows President Umaro Sissoco Embaló’s insults and threats against journalists on July 13. The Guinea-Bissau Human Rights Defenders Network also condemned Embaló’s behavior.

Sinjotecs issued a statement on July 14, criticizing the president’s use of offensive language at a press conference upon his return from China.

Chad: Launch of Modernization Works at the N’Guéli Dry Port

On July 11, 2024, the Société de Manutention du Tchad (SMT) commenced the first phase of modernization at the N’Guéli dry port in N’Djamena, Chad.

The project includes constructing a three-story customs services building, a two-story building for freight forwarders, facilities for bank agencies, a mosque, a restaurant, and public toilets.

The second phase will focus on paving and developing utility networks. The modernization, expected to take 12 months, addresses growing logistical demands.

The Mozambican economy grew by 3.2% in real terms in Q1.

The National Statistics Institute (INE) reported that Mozambique’s economy grew by 3.2% in the first quarter of 2024, a decrease from the 6.55% growth in the same period in 2023.

The government’s 2024 projections include 5.5% economic growth, maintaining 7% annual inflation, and reaching $9.7 billion in exports.

The Economic and Social Plan and State Budget (PESOE-2024) also aims for $2 billion in net international reserves, covering three months of imports.

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