IBOV 188,268.59 ▲ 1.42% IPSA 11,238.63 ▼ 1.16% IPC MEX 64,499.43 ▼ 0.49% MERVAL 3,157,852 ▲ 1.53% COLCAP 2,626.71 ▲ 1.65% BVL PERÚ 60,702.89 ▼ 2.19% USD/BRL5.10▼ 0.10% USD/MXN16.98▲ 0.51% USD/CLP940.47▲ 1.38% USD/COP3,081▼ 1.14% USD/PEN3.36▲ 0.06% USD/ARS1,513▼ 0.08% USD/UYU40.24▲ 3.05% USD/PYG5,868▲ 2.26% USD/BOB12.36▲ 1.91% USD/DOP58.63▲ 0.22% USD/CRC447.58▲ 1.69% USD/GTQ7.63▲ 3.04% USD/HNL26.85▲ 0.57% USD/NIO36.62▲ 0.34% USD/VES830.41▲ 0.45% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.73▲ 2.40% EUR/BRL5.92▲ 0.29% 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 188,268.59 ▲ 1.42% IPSA 11,238.63 ▼ 1.16% IPC MEX 64,499.43 ▼ 0.49% MERVAL 3,157,852 ▲ 1.53% COLCAP 2,626.71 ▲ 1.65% BVL PERÚ 60,702.89 ▼ 2.19% 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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Thursday, September 10, 2026

Tuesday’s African Short News Roundup

By · August 27, 2024 · 5 min read

Africa Intelligence

One email, every weekday morning. African markets, politics and business — filed from our newsroom in Rio.

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In this series of news summaries, we explore a range of global and regional issues reflecting significant political, economic, and social dynamics.

From São Tomé and Príncipe’s decision to compensate a former minister wrongfully detained to the stark decline of Mozambique’s tobacco industry, each summary provides insights into the challenges and developments affecting these regions.

Other topics include Angola’s strategic privatization of UNITEL, persistent conflict in eastern DR Congo, and agricultural advancements in Angola with increased sorghum production.

We also cover Mozambique’s economic growth, South Africa’s housing affordability crisis, Raila Odinga’s candidacy for the African Union Commission Chair, political shifts in Tunisia with Abdellatif Mekki’s presidential candidacy,

Mali’s diplomatic engagement with China and Morocco’s leadership in energy transition. These summaries provide a concise look at complex issues, offering a snapshot of each situation’s unique aspects and broader implications.

Compensation for Former São Tomé Minister

The São Toméan government has resolved to pay 400,000 euros to Américo Ramos, the former Finance Minister, for wrongful detention in 2019.

Tuesday's African Short News Roundup
Tuesday’s African Short News Roundup.
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Ramos, who held his position under Prime Minister Patrice Trovoada from 2014 to 2018, was accused of embezzling $17 million from the Kuwaiti Fund. However, his detention was later adjudged illegal, and he sought compensation.

The payout follows a judicial directive that acknowledges the procedural missteps and undue hardship suffered by Ramos during his three-month pre-trial detention.

This decision underscores a commitment to justice and legal integrity within the nation’s governance.

Decline in Mozambique’s Tobacco Industry

Mozambique’s tobacco industry experienced a drastic decline, witnessing a 71.7% drop in production in the first half of the year compared to the same period last year, totaling only 2.8 million euros.

This stark decrease represents a mere 2.7% of the annual production target for 2024, reflecting severe operational challenges.

Historically a significant contributor to Mozambique‘s industrial sector, the tobacco industry’s downturn has had a major impact on economic outputs.

From January to June, it constituted just 1% of national industrial production. The decline points to broader issues in agricultural planning and market demand.

Angola’s UNITEL Partial Privatization

Angola is set to privatize 15% of UNITEL, the country’s foremost telecom operator. This strategic move, part of the 2023-2026 ProPriv program, aims to reduce state involvement and enhance sector efficiency.

Of this, 2% of shares will be reserved for employees and company executives. This decision follows the state’s nationalization of significant shares previously held by prominent figures.

UNITEL’s partial privatization through an Initial Public Offering (IPO) managed by the Angola Debt and Securities Exchange (BODIVA) marks a critical step.

However, this move is aimed at broadening economic reforms and fostering a competitive telecom market.

Persistent Conflict in Eastern DR Congo

Ongoing conflict in eastern Congo continues despite a formal ceasefire, with the Congolese government forces clashing with M23 rebels.

The M23, reportedly supported by Rwanda, has captured significant territories, exacerbating regional instability.

Civilians remain caught in the crossfire, suffering amidst the escalating violence that threatens densely populated areas.

International efforts to mediate have been ineffective in stopping the violence. This situation highlights the complex geopolitical dynamics and the deep-rooted nature of the conflict in the region.

This protracted unrest underscores the challenges of achieving peace and security in resource-rich but volatile regions.

Increase in Sorghum Production in Angola

Sorghum production in Angola’s Cunene province saw a substantial increase to 115,033 tons in the 2023/2024 agricultural season, up from 68,000 tons in the previous cycle.

This growth is credited largely to the efforts of family farmers, who contribute significantly to the region’s agricultural output.

Despite facing challenges such as irregular rainfall, which affected overall yield, the increase in production is a positive indicator. It reflects the resilience and adaptability of local agricultural practices.

The region’s focus remains on optimizing crop production to secure food supplies and support local economies.

Economic Growth in Mozambique

Mozambique’s economy has shown significant growth, with a 3.2% increase in GDP in the first quarter of the year.

President Filipe Nyusi attributed this growth to effective monetary policies that have fostered low inflation and stable economic conditions.

These policies, along with strategic investments in various sectors and favorable international trade conditions, have bolstered the economy.

Nyusi’s administration has implemented measures such as visa exemptions and VAT reductions to stimulate further growth.

These steps emphasize the importance of economic diversification and enhanced competitiveness on the global stage.

Housing Affordability Crisis in South Africa

South Africa is grappling with a severe housing affordability crisis, highlighted by a high rate of mortgage and loan application rejections.

Human Settlements Minister Mmamoloko Kubayi expressed concern over the disproportionate impact on historically disadvantaged populations.

The government is actively pursuing reforms to address these challenges. This includes collaborations with building material suppliers and financial institutions to alleviate the housing burden for first-time homeowners.

These efforts are part of a broader strategy to ensure fair access to affordable housing and to support economic stability across different income groups.

Raila Odinga’s Candidacy for AUC Chair

Kenya has formally nominated former Prime Minister Raila Odinga for the African Union Commission Chair, with support from several East African leaders.

Odinga’s candidacy is based on his longstanding commitment to African unity and his vision for the continent’s economic and infrastructure development.

His campaign, endorsed by President William Ruto and other regional leaders, focuses on removing barriers to intra-African travel and trade. It also aims to promote peace and foster economic integration.

Odinga’s leadership qualities and his pan-Africanist approach make him a strong candidate to drive the African Union’s Agenda 2063.

Abdellatif Mekki’s Presidential Candidacy in Tunisia

Abdellatif Mekki has been officially approved to run in Tunisia’s presidential election on October 6, following a successful appeal against his initial candidacy rejection.

Mekki, a former Health Minister and a prominent figure in the Ennahdha movement has distanced himself from the party. He is now focusing on a campaign centered on anti-corruption and economic reform.

His entry into the race introduces a significant shift in the electoral landscape, promising a campaign focused on social justice and economic improvement.

Mekki’s candidacy offers the Tunisian electorate an alternative that underscores a desire for change and reform in governance.

Mali’s Diplomatic Engagement with China

Colonel Assimi Gota of Mali is set to deepen diplomatic and economic ties with China during the upcoming Forum on China-Africa Cooperation in Beijing.

This visit marks a significant effort by Mali to strengthen international relationships and explore new economic partnerships amid ongoing national transitions.

Discussions will focus on economic cooperation and strategic partnerships, which are crucial for Mali’s development strategy.

Goïta’s engagement with China signifies Mali’s intention to diversify its international alliances and enhance its economic and security stability.

Morocco’s Leadership in Energy Transition

Morocco showcased its leadership in sustainable energy during the ONS Energy Forum in Norway, emphasizing its innovative approaches to energy transition.

Minister Leila Benali presented Morocco’s strategies and achievements in renewable energy. She highlighted the country’s commitment to sustainable development and international collaboration.

The forum provided a platform for global leaders to discuss energy challenges and the need for a coordinated approach to achieve a sustainable energy future.

Morocco’s active participation underscores its role as a significant player in global energy transition efforts. The country is promoting a collaborative and forward-thinking approach to environmental and energy issues.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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