<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1307" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-scaled.jpg" alt="" class="wp-image-542875" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-300x191.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-820x523.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-768x490.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/HLM3LV46JRI7HOGTAZAZKEDYXM-1536x980.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: A woman walks past an Africa-focused tech startup Jumia Technologies, pickup station in downtown central business district in Nairobi, Kenya November 16, 2021. REUTERS/Monicah Mwangi/File Photo</figcaption></figure>



JOHANNESBURG, Oct 16 (Reuters) &#8211; Africa-focused e-commerce retailer Jumia Technologies will close its South African online fashion retailer Zando and its Tunisian operations by the end of the year to sharpen its focus on its other markets, the CEO told Reuters.



Jumia is aggressively cutting costs to try to turn profitable, including by reducing head count, exiting everyday grocery items and food delivery and cutting delivery services not related to its e-commerce business.



&#8220;The trajectory of the countries did not align with the strategy of the group,&#8221; CEO Francis Dufay said, citing complex macroeconomics, the competitive environment and low medium term potential for growth and profitability.



&#8220;We believe it&#8217;s the right decision,&#8221; he added. &#8220;It enables us to refocus our resources on the other nine markets, where we see more promising trends in terms of scale and profitability.&#8221;



Jumia&#8217;s remaining markets include Egypt, Kenya, Morocco and Nigeria. Dufay said success in any would &#8220;easily enable us to recover&#8221; lost volumes from South Africa and Tunisia.



These two businesses accounted for only 2.7% of total orders and 3% of Gross Merchandise Value in the six months ended June 30, Dufay said.



Zando.co.za was founded in 2012 and since then has grown to become a well-known South African online fashion platform. In Tunisia, the business has been operating under the Jumia brand for a decade, selling general merchandise.



Dufay said he was not planning to sell either operation, which will hold clearance sales before shutting.



The closures mean axing about 110 jobs, Dufay said, but some may be relocated to other parts of the group&#8217;s business.



The exit in South Africa follows shortly after the country&#8217;s biggest online retail group Takealot announced the sale of its online fashion business Superbalist in September, amid increasing competition from fast-fashion Chinese e-commerce retailers Shein and Temu.



Dufay said in South Africa &#8220;growth potential was definitely more difficult&#8221; because of the highly competitive environment.



(Reporting by Nqobile Dludla; Editing Tim Cocks and Barbara Lewis)

FILE PHOTO: A woman walks past a Jumia Technologies, pickup station in downtown Nairobi

African online retailer Jumia to exit South Africa and Tunisia

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1200" height="789" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1.jpg" alt="" class="wp-image-542871" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1.jpg 1200w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1-300x197.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1-820x539.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1-137x90.jpg 137w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/YWWKJYXNFNKNXNNTA7PVQVR7QU-1-768x505.jpg 768w" sizes="auto, (max-width: 1200px) 100vw, 1200px" /><figcaption class="wp-element-caption">A logo of the Bank of Namibia is seen at the company&#8217;s headquarters in Windhoek, Namibia, February 24, 2017. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



WINDHOEK, Oct 16 (Reuters)&nbsp;&#8211;&nbsp;Namibia&#8217;s central bank cut its main interest rate&nbsp;for the second meeting in a row on Wednesday, saying inflation had fallen surprisingly quickly and that the economy needed more support.



Its Monetary Policy Committee (MPC) unanimously decided to cut the repo rate by 25 basis points to 7.25%, the same size of cut as at August&#8217;s meeting.



&#8220;The MPC noted the growing momentum in the international monetary policy easing cycle, the retreat in domestic inflation over the medium term, along with the recent downside surprise in the September 2024 inflation print,&#8221; Bank of Namibia Governor Johannes !Gawaxab said in a statement accompanying the decision.



Annual inflation in the southern African country fell to 3.4% in September, a steep drop from the 4.4% posted in August.



The central bank on Wednesday revised down its average inflation forecast for this year to 4.3%, versus a 4.7% forecast given at its last meeting.



It attributed the revision to a more favourable outlook for international oil prices and a stronger domestic exchange rate.



The bank said private sector credit extension remained subdued, suggesting that further support to the domestic economy was warranted.



&#8220;The domestic economy, while growing at a moderate pace, was operating below full capacity,&#8221; !Gawaxab said.



Growth is projected to slow to 3.1% in 2024, compared to 4.2% in 2023.



On a $750 million Eurobond redemption due in late 2025, the central bank governor said Namibia had already set aside 82% of the $500 million it wants to retire at maturity. The government still hopes to refinance the remaining $250 million, !Gawaxab said.



(Writing by Tannur Anders; Editing by Alexander Winning and Gareth Jones)

YWWKJYXNFNKNXNNTA7PVQVR7QU (1)

Namibia central bank cuts key rate again to help growth

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Employee-working-in-warehouse.jpg" alt="" class="wp-image-542854" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Employee-working-in-warehouse.jpg 640w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Employee-working-in-warehouse-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Employee-working-in-warehouse-135x90.jpg 135w" sizes="auto, (max-width: 640px) 100vw, 640px" /></figure>



The answer is a place which, I believe, will prove vital to world trade and global economic growth in the next 25 years – Africa.



At the United Nations General Assembly this month I met African leaders including the President of Mozambique, Filipe Nyusi, and Nigerian Vice President Kashim Shettima, to discuss how DP World, a long-time friend of the continent with 28,000 employees, can help realize its potential.



The numbers are striking. By 2050 Nigeria will be home to 400m, according to the UN, and is projected one day to eclipse China as the world’s second most populous nation.



The Democratic Republic of Congo – where we have made a $1.2bn investment in the Port of Banana – will experience a remarkable 122% population increase to become home to 218m.



Together with its natural resources and strategic location, Africa has the potential to be one of the engines of the global economy in just a few decades’ time.



A compelling commercial case, as well as a profound moral one, can therefore be made for businesses in the rest of the world to help Africa develop its supply chains now.



That’s why, on top of the $3bn we have already invested, we are committing another $3 billion over the next five years to build new port and logistics infrastructure across the continent. The ambition behind our growing end-to-end logistics capability is nothing less than to connect Africa umbilically to world trade.



The urgency is all the greater because of the current impact of geopolitical shocks. The situation in the Red Sea, where commercial shipping is at risk, is serious and may not improve soon. Conflicts in the Middle East and Europe, too, are a personal tragedy for those affected and another grave risk.



It is therefore no surprise that the Economist Impact’s Trade in Transition 2024 report, supported by DP World, revealed that 36% of respondents had prioritized ‘friendshoring&#8217;. While such strategies can boost resilience, the World Bank notes they may also mean shipping, logistics, and regulatory costs double the prices of internationally traded goods.



Africa can be a key part of the solution.



Firstly, its population is not only rising but also young, with nearly two thirds under the age of 30. That means a growing consumer market and a steady supply of youthful workers.



Secondly, Africa’s natural wealth is well known, from an abundance of precious metals to 20% of the world’s oil and gas reserves, all of which can help to drive trade partnerships in the coming years.



Thirdly, the continent is surrounded by the sea, with 38 of its 54 countries having direct access to open waters. It is also home to key maritime trade routes, giving it the most strategic location of any continent.



But this potential will not be realized until we address Africa’s challenges in connecting with global markets. Poor roads, ports, and rail networks add an alarming 30-40% to intra-continent trade costs.



We expanded our presence last year by adding Tanzania’s Dar es Salaam port to our network. This year we secured an extension to run Mozambique’s Port of Maputo until 2058, where container capacity is projected to quadruple to 1m units a year. And we launched the Berbera Economic Zone in Somaliland, creating a world-class logistics hub to serve the broader Horn of Africa.



To maximise the transformative Africa Continental Free Trade Area (AfCFTA) agreement, public and private stakeholders from across the continent and beyond must work together.



Partnerships like DP World’s with CDC Group, the UK’s development finance institution, are blueprints for the future. Together, we have focused on modernizing, expanding and decarbonizing ports and inland logistics across Africa including in Senegal, Egypt and Somaliland.



Further investment is key. Initiatives are underway to nurture trade corridors, with projects like the Trans-Saharan Highway, Trans-African Railway and the African Integrated High-Speed Railway Network designed to improve connectivity and ultimately expand Africa’s role in global commerce.



By unlocking its economic potential, Africa will not only address its own developmental needs but also drive economic growth for people everywhere. I am optimistic that the role it can play in world trade in the decades ahead can be a hugely consequential one.

Employee working in warehouse

Which is the only region in the world which will add more than 1bn people to its population by the middle of the century?

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg" alt="" class="wp-image-510212" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker at a foreign exchange currency bureau counts 1000 Ugandan shilling banknotes in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda&#8217;s central bank said it stands ready to act if the World Bank&#8217;s decision to halt new funding over the country&#8217;s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images</figcaption></figure>



KAMPALA, Oct 16 (Reuters) &#8211; The Ugandan shilling was broadly stable on Wednesday due to muted demand for dollars from commercial banks and importers, traders said.



At 0722 GMT, commercial banks quoted the shilling at 3,665/3,675, compared with Tuesday&#8217;s closing rate of 3,667/3,677.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan Economy Following Rate Cut

Ugandan shilling stable due to muted dollar demand

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg" alt="" class="wp-image-536645" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/rand2-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Oct 16 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand gained in early trade on Wednesday, ahead of domestic retail sales data that could provide some early hints on the growth prospects of Africa&#8217;s most industrialised economy, analysts said.



At 0652 GMT, the rand traded at 17.5950 against the U.S. dollar, about 0.3% firmer than its previous close.



The dollar last traded about 0.1% stronger against a basket of currencies.



Local investors will turn to South Africa&#8217;s August retail sales data at 1100 GMT.



&#8220;Given the economy&#8217;s dependence on consumption, retail sales are an important &#8216;early indicator&#8217; of South Africa&#8217;s growth prospects,&#8221; said ETM Analytics in a research note.



Lower interest rates, slow inflation and potential continued strength in the rand could help retail sales looking forward, the note added.



South Africa&#8217;s benchmark 2030 government bond was little changed in early deals.



(Reporting by Tannur Anders; Editing by Sumana Nandy)

New South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg

South African rand firms as August retail sales data on tap

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg" alt="" class="wp-image-519304" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/LYEEWJTJKRPK3GJPCKWFP3EK7E.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A teller counts Kenya shilling notes inside the cashier&#8217;s booth at a forex exchange bureau in Kenya&#8217;s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Oct 16 (Reuters) &#8211; The Kenyan shilling was unmoved against the dollar on Wednesday, data from the London Stock Exchange Group showed.



At 0657 GMT, the shilling traded at 128.50/129.50 to the dollar at 0647 GMT, LSEG data showed, the same as Tuesday&#8217;s closing rate.



The East African currency has remained in the same range for several months.



(Reporting by Sonia Rao; Editing by George Obulutsa)

LYEEWJTJKRPK3GJPCKWFP3EK7E

Kenyan shilling steady versus dollar – LSEG data

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-524623" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Oct 16 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency moves may affect South African markets on Wednesday.



ECONOMIC EVENTS



August retail sales data at 1100 GMT



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand was little changed on Tuesday after the release of a local business confidence index and the central bank&#8217;s bi-annual Monetary Policy Review.



In stocks, the Top-40 index closed 0.52% lower.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian equities fell on Wednesday after disappointing earnings from Europe&#8217;s biggest tech firm ASML dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



Wall Street&#8217;s major stock indexes closed lower on Tuesday, with a 1% drop in the technology-heavy Nasdaq leading losses as chip stocks tumbled on demand concerns, while the energy sector fell 3% as oil prices dropped.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold traded in a tight range on Wednesday as market participants awaited more U.S. economic data to determine the number of rate cuts the Federal Reserve is likely to deliver in the near term.



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Inflation now under control even in the downside scenario, Bank models show



(Compiled by Tannur Anders; Editing by Andrew Heavens)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Oct 16

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



NAIROBI, Oct 16 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



*ETHIOPIA &#8211; State-owned Ethio Telecom holds a news conference on the planned share sale of a 10% stake on the country&#8217;s new bourse.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian equities fell on Wednesday after disappointing earnings from Europe&#8217;s biggest tech firm ASML dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices inched higher in early trade on Wednesday on uncertainty over what may happen next in the Middle East conflict, after demand concerns knocked the market to its lowest since early October in the previous session.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



South Africa&#8217;s rand was little changed on Tuesday after the release of a local business confidence index and the central bank&#8217;s bi-annual Monetary Policy Review.



<h2 class="wp-block-heading" id="h-nigeria-inflation">NIGERIA INFLATION</h2>



Nigeria&#8217;s inflation rate rose in September for the first time in three months, advancing to 32.70% in annual terms from 32.15% in August, the statistics agency said on Tuesday.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



The Kenyan shilling was unchanged against the dollar on Tuesday, data from the London Stock Exchange Group showed.



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



Kenya&#8217;s courts on Tuesday declined to stop this week&#8217;s Senate vote on Deputy President Rigathi Gachagua&#8217;s impeachment from going ahead.



<h2 class="wp-block-heading" id="h-jp-morgan-expansion">JP MORGAN EXPANSION</h2>



JPMorgan Chase, the largest U.S. lender, plans to enter Kenya and Ivory Coast this year and grow its footprint in Africa, CEO Jamie Dimon told Reuters.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Oct 16

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="552" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Z5ZCDEUALVJB3FKZTMZRN6CCHI-820x552.jpg" alt="" class="wp-image-542826" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Z5ZCDEUALVJB3FKZTMZRN6CCHI-820x552.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Z5ZCDEUALVJB3FKZTMZRN6CCHI-300x202.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Z5ZCDEUALVJB3FKZTMZRN6CCHI-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Z5ZCDEUALVJB3FKZTMZRN6CCHI-768x517.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Z5ZCDEUALVJB3FKZTMZRN6CCHI-1536x1034.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/Z5ZCDEUALVJB3FKZTMZRN6CCHI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Kenya&#8217;s Deputy President Rigathi Gachagua speaks during a press conference, ahead of lawmakers&#8217; vote over his impeachment motion at his residence in Karen, Nairobi Kenya, October 7, 2024. REUTERS/Monicah Mwangi/File Photo</figcaption></figure>



NAIROBI, Oct 16 (Reuters)&nbsp;&#8211;&nbsp;Impeachment proceedings against Kenya&#8217;s deputy president are constitutional, a court said on Wednesday, clearing the way for the Senate to hold hearings and vote on his dismissal this week.



Kenya&#8217;s National Assembly voted on Tuesday last week to impeach the deputy president, RigathiGachagua, on 11 charges which included corruption, undermining the government and stirring ethnic hatred. Gachagua has denied all charges.



Gachagua has said the impeachment motion, backed by opposition lawmakers and allies of President William Ruto, was based on falsehoods that constituted a political lynching, according to court documents seen by Reuters.



He launched an appeal in the high court, but Judge Erick Ogolla said the process could go ahead.



&#8220;At this stage, the process is a lawful, constitutional process, and the Senate will conduct a trial where all the issues being raised before the court will be raised and determined at the moment,&#8221; the judge said in court.



The deputy president was Ruto&#8217;s running mate in their 2022 election win, helping secure vital votes from the populous central Kenya region. But the men have since fallen out and political alliances have shifted.



Ruto fired most of his cabinet and appointed members of the opposition to what he called a unity government after nationwide protests against tax increases in which more than 50 people were killed.



The Senate is expected to hold hearings on Wednesday and vote on Thursday. A two-thirds majority would be needed to dismiss Gachagua.



(Reporting by Edwin Okoth and Ammu Kannampilly; writing by George Obulutsa; Editing by Andrew Heavens)

FILE PHOTO: Kenya’s Deputy President Rigathi Gachagua speaks during a press conference, ahead of lawmakers’ vote over his impeachment motion at his residence in Karen, Nairobi

Impeachment proceedings against Kenyan deputy president are constitutional, court says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/46QRGHAVVRL57L4K2LGPNJVTVI-820x547.jpg" alt="" class="wp-image-542795" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/46QRGHAVVRL57L4K2LGPNJVTVI-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/46QRGHAVVRL57L4K2LGPNJVTVI-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/46QRGHAVVRL57L4K2LGPNJVTVI-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/46QRGHAVVRL57L4K2LGPNJVTVI-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/46QRGHAVVRL57L4K2LGPNJVTVI-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/46QRGHAVVRL57L4K2LGPNJVTVI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Jamie Dimon, chairman and CEO of JPMorgan Chase, speaks during the ceremony for placement of the final beam for JPMorgan Chase&#8217;s new global headquarters building at 270 Park Avenue in New York City, U.S., November 20, 2023. REUTERS/Brendan McDermid/File Photo</figcaption></figure>



NEW YORK, Oct 16 (Reuters) &#8211; JPMorgan Chase, the largest U.S. lender, plans to enter Kenya and Ivory Coast this year and grow its footprint in Africa, CEO Jamie Dimon told Reuters.



International markets are a growth area for JPMorgan, which has more than $4.2 trillion in assets and operates in over 100 countries. That compares with Citigroup, which does business in almost 180 countries and has the largest global footprint among U.S. banking giants.



&#8220;We want to add a country or two (enter or deepen presence) in Africa, every couple of years or so,&#8221; Dimon said by phone from New York on Friday before departing on a trip to Africa. The countries and pace of expansion have not previously been reported.



Dimon will hold meetings in Kenya, Nigeria and South Africa on the tour, Reuters reported last month.



&#8220;This will allow us to be on the ground in these countries which gives you a lot more local knowledge and relationships,&#8221; Dimon said.



&#8220;And when you do it, you basically will cover the government, maybe some big government enterprises and the multinationals that are going in there with traditional banking services,&#8221; he added.



In Kenya and Ivory Coast, the bank will focus on commercial and investment banking, treasury services, and possibly some lending, Dimon said. In those two countries, it has no immediate plans to offer asset and wealth management (AWM) services, which are already available in South Africa and Nigeria.



&#8220;We are not doing AWM now but that doesn&#8217;t mean it wouldn’t happen in the next few years,&#8221; Dimon said.



JPMorgan&#8217;s earlier aspirations to enter Ghana and Kenya in the last several year were thwarted by regulators, according to media reports.



On Monday, the Central Bank of Kenya said it authorized JPMorgan to establish a representative office there.



In the past, &#8220;the U.S. government was not very keen on banks expanding into different geographies, as this was just after the financial crisis,&#8221; Dimon said noting the U.S. is now more supportive.



It is a positive move if U.S. financial institutions expand abroad, and the government should support such endeavors to compete overseas, he said, citing the broad footprint of Chinese companies and saying that U.S. companies should also be in these places.



Major global lenders have adopted differing strategies for individual sub-Saharan markets, targeting the fastest-growing areas while seeking to distinguish themselves from local and regional competitors.



For instance, Standard Chartered has focused on Kenya. Its assets under management in the East African nation grew by a quarter last year to 185.5 billion Kenyan shillings ($1.4 billion), it said.



The expansion may not have a material impact on JPMorgan&#8217;s business in the near term, but it will be beneficial for the company and future leaders in the long run, Dimon said.



JPMorgan is among the top five international private banks by assets under supervision.



In the last five years, about 700 bankers have been involved in expanding into 27 new locations worldwide, generating $2 billion in revenue for its commercial and investment bank, executives told investors in May.



(Reporting by Nupur Anand in New York, additional reporting by Hereward Holland, David Lewis and Duncan Miriri in Nairobi, editing by Lananh Nguyen and Lincoln Feast.)

FILE PHOTO: Jamie Dimon, chairman and CEO of JPMorgan Chase

Jamie Dimon charts JPMorgan expansion plan into Africa

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="602" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-820x602.jpg" alt="" class="wp-image-542577" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-820x602.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-300x220.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-122x90.jpg 122w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-768x564.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-1536x1129.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LYNXMPEG0F1AI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Victims of Cyclone Idai receive food aid at Siverstream Estates in Chipinge, Zimbabwe March 24 ,2019. REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



GENEVA, Oct 15 (Reuters)&nbsp;&#8211;&nbsp;Millions of people across southern Africa are facing the worst food crisis in decades, the World Food Programme (WFP) said on Tuesday, warning that its ability to provide relief risks being stymied by funding shortfalls.



Amid unprecedented drought conditions, a record five countries &#8211; Lesotho, Malawi, Namibia, Zambia and Zimbabwe &#8211; have declared a state of disaster and called for international humanitarian support, the U.N. agency said. Angola and Mozambique are also badly affected and around 21 million children are malnourished.



&#8220;Unless we receive additional resources, millions of people risk going through the worst lean season in decades without assistance,&#8221; WFP spokesperson Tomson Phiri told a Geneva press briefing.



The agency is planning to provide food and, in some cases, cash assistance to more than 6.5 million people in the seven hardest-hit countries to cover the period until the next harvest in March.



The WFP said, however, that it had only received about a fifth of the $369 million it needed.



&#8220;Crops failed, livestock has perished and children are lucky to receive even one meal per day. The situation is dire, and the need for action has never been clearer,&#8221; said Phiri.



(Reporting by Emma Farge, editing by Ed Osmond)

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According to the African Youth Survey 2024, China and Russia are winning the war for the hearts and minds of Africa’s youth, almost by default.



As the Russia-Ukraine war moves toward its third anniversary with no end in sight, and as Israel and Iran square off, African concerns all too often appear as a mere afterthought in Western strategic planning.



For centuries, Western nations have focused more on extracting Africa’s mineral wealth, often by bribing strongmen, than on forging alliances with the people who inhabit Africa’s 54 nations. As African nations began shaking off the bonds of colonialism after World War II, their people were desperate enough to trust unscrupulous dictators who lined their own pockets while selling off national wealth to the progeny of their former colonial masters.



As all three African Youth Surveys have shown, today’s African youth, who in just six years’ time will constitute a third of the global youth population, are grossly offended by the corruption of their leaders and by those whose money and power fed that corruption. This year’s survey found that nearly 60 percent of the 5,604 Africans aged 18 to 24 interviewed across 16 countries want to leave their countries because of unchecked corruption.



Russia’s influence in Africa has risen since 2020, with 41 percent suggesting Russia is a leading foreign influencer on the continent and 68 percent suggesting that influence is positive. This shift, most notably in Malawi and South Africa, is linked to the Russia-Ukraine war and Russia’s displacement of Ukraine as a major supplier of grain and fertilizer. Two-thirds believe that war could have been avoided, and nearly a third blame NATO, the U.S., and the EU.



A recent Council on Foreign Relations&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://www.cfr.org/backgrounder/russias-growing-footprint-africa">report states</a>&nbsp;that Moscow’s military focus is mostly on weapons trading and new military bases. Diplomatically, Russia works with private military companies and local political allies to tap into lingering anti-colonial sentiment. Russia’s $18 billion in trade with African countries lags far behind that of the U.S. (($64 billion) and China ($254 billion) and is largely focused on gold, diamonds, uranium, and oil.



The CFR report further notesthat longstanding frustration with the failures of Western intervention and a simmering resentment over a lack of African representation in international institutions have fueled Russia’s growing support in Africa. South African philanthropist Ivor Ichikowitz, whose family foundation funds the African Youth Survey, points out that while nearly 30 percent of the votes in the United Nations come from African countries, no African nation holds a permanent seat at the UN Security Council.



China’s growing involvement with African nations poses a much greater threat to the West as well as to unsuspecting African leaders gulled by the red-carpet treatment many receive in China. According to Cobus van Staden, co-founder of the China-Global South Project, Xi Jinping&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://chinaglobalsouth.com/analysis/focac-and-the-africa-plus-one-summit-where-to-next/">signals solidarity</a>&nbsp;with African nations by emphasizing its own status (reaffirmed in the Paris Agreements) as a “developing” nation while avoiding the “dreariness of the U.S. and EU’s ongoing aid forces with its attendant conditionality and preaching.”



The results have been spectacular, as a fifth of Africa’s exports go to China, including metals, mineral products, and fuel. Exports to China have quadrupled since 2001. Meanwhile, China is also the single largest source of imports to African nations of manufactured goods and machinery, according to the International Monetary Fund, with the balance of trade massively favoring the Chinese.



Von Staden says the recent 2024 Forum on China-Africa Cooperation eschewed the traditional focus of aid to operate at a higher level, with successive funding commitments and an expanding scope to respond to African demands. While Western “Africa plus one” summits often fall into the “Africa is a country” trap, the Chinese have been adept at bilateral negotiations. Still, old money is often recycled into “new” projects while the initial projects never came to fruition.



<h2 class="wp-block-heading" id="h-but-how-do-african-youth-view-china">But how do African youth view China?</h2>



According to the 2024 African Youth Survey, 76 percent see China as the most influential global power, and 82 percent call the character of Chinese influence positive. The U.S. comes in second, at 70 percent influential and 79 percent positive. The EU, the United Kingdom, and France have all dropped significantly as African influencers.



In a&nbsp;<a rel="noreferrer noopener" target="_blank" href="https://www.cfr.org/councilofcouncils/global-memos/why-us-presidential-election-matters-africa">just-issued</a>&nbsp;Council on Foreign Relations “global memo” focused on the impact of the 2024 U.S. presidential election on African policy, Michelle Gavin, the CFR’s Ralph Bunche Fellow for Africa Policy Studies, said U.S. Africa policy is hardly a factor in either candidate’s foreign policy platforms or discussions. America’s struggles with election integrity and political violence are undermining faith among Africans that it remains a beacon of light for African democracies.



Gavin suggests that a second Trump Administration would ensure that Africa policy would be largely an afterthought, and that a Harris Administration, while less predictable and more proactive, could still be viewed as “inflexible, ponderous, unresponsive, or just plain absent.”



What U.S. foreign policy in Africa needs, she suggested, is not just the swapping out of personnel but a bigger change in mindset. American policy makers need to wake up to the reality that other major and middle powers have been far more ambitious in their engagements in Africa for years, often to the detriment of U.S. interests.



African nations are moving beyond postcolonialism toward exerting stronger influences in the future of critical supply chains and next-generation international institutions and norms. Gavin urges anyone serious about U.S. foreign policy to seek common ground between the most urgent interests of Africans and those of the United States. &nbsp;



<a rel="noreferrer noopener" target="_blank" href="https://www.cfr.org/councilofcouncils/global-memos/why-us-presidential-election-matters-africa">Likewise</a>, Eghosa E. Osaghae, Director-General, Nigerian Institute of International Affairs, calls for a U.S.-Africa relations reset. While noting the “crucial role” the U.S. plays in the stability and development of the African continent, he adds there is a widespread perception across Africa that its strategic relevance to the U.S. has been waning, leading to neglect and a lack of empathy.



U.S. involvement across Africa, he says, has focused primarily on humanitarian and democratic interventions at the expense of more critical engagements around development goals such as reducing debt problems, mitigating state fragility, and addressing the harms of climate change. This neglect has led to growing discontent and impatience with the U.S. and Europe and is the chief reason that China and Russia have rapidly expanded their influence.



Osaghae warns that a realignment of U.S.-Africa relations is an absolute necessity if the U.S. wants to compete successfully with China and Russia on the African continent, yet no matter the outcome of the U.S. elections he sees the chances of such a fundamental shift as “quite slim.”



Ichikowitz echoes the need that “the world must pay attention to Africa’s emerging force – the youth. As the fastest-growing demographic, they are the heartbeat of the future.” Yet he fears that, unless Western nations take Africa’s youth more seriously, they may be relegated to being “passive spectators” in a world run by the rich and powerful.



Sadly, while Western policymakers continue to demand that Africans conform to Western norms that are often not achievable where there is no electricity, sanitation, or functioning infrastructure, Russia views the continent much as the West did for centuries &#8212; as a source of wealth and an outlet for its power. The Chinese have over five millennia viewed themselves as “culturally superior,” suggesting that equal partnerships between Africans and the Chinese are doomed to failure.



A proper realignment of U.S. Africa policy, therefore, must focus on developing the full potential of Africa’s youth, who, as Ichikowitz points out, are no longer content to be bystanders in global discourse. They are, he says, “ready to rewrite the narrative, and they have every intention of wielding the pen themselves.”



“The West,” he concludes, “can no longer afford to ignore the reality: disengagement and disregard for&nbsp;Africa&#8217;s&nbsp;youth will have far-reaching consequences. This is not a plea for attention; it&#8217;s a demand for action.&#8221;

Duggan_Flanakin

Will The West Cede Africa To China & Russia?

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="524" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-820x524.jpg" alt="" class="wp-image-542491" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-820x524.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-300x192.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-768x491.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-1536x982.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/LSUYGZLQFJNSJMK2KNF3ABV4GM-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A customer compares prices while shopping at a Pick and Pay shop in East London, in the Eastern Cape province, South Africa, March 17, 2023. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, Oct 15 (Reuters)&nbsp;&#8211;&nbsp;South African business confidence dipped in September on lower vehicle and retail sales and a drop in the value of building plans, but the overall trend since May&#8217;s election remains positive, data showed on Tuesday.



The South African Chamber of Commerce and Industry&#8217;s Business Confidence Index (BCI) fell to 110.2 in September, down from 111.5 in August but higher than the 109.1 recorded in July.



The BCI is released every two months.



Business sentiment rose gradually from June, when a broad coalition government was formed after the African National Congress lost its parliamentary majority in the election.



&#8220;The meagre dint of the BCI in September may however be ascribed to understanding the challenges and finding convergence between role players,&#8221; the South African Chamber of Commerce and Industry (SACCI) said in a statement.



Factors supporting sentiment last month included increased numbers of international tourists, higher export volumes and lower inflation.



Annual inflation fell to 4.4% in August, dropping below the midpoint of the central bank&#8217;s target range and encouraging it to cut interest rates for the first time in more than four years in September.



SACCI said it hoped the finance minister&#8217;s mid-term budget statement on Oct. 30 would &#8220;confirm the effort of resolving structural impediments in the economy&#8221;.



(Reporting by Tannur Anders; Editing by Alexander Winning)

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="585" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5Q76XJF7GNO2PA6LYO2BS7QVVU-820x585.jpg" alt="" class="wp-image-542488" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5Q76XJF7GNO2PA6LYO2BS7QVVU-820x585.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5Q76XJF7GNO2PA6LYO2BS7QVVU-300x214.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5Q76XJF7GNO2PA6LYO2BS7QVVU-126x90.jpg 126w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5Q76XJF7GNO2PA6LYO2BS7QVVU-768x548.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5Q76XJF7GNO2PA6LYO2BS7QVVU-1536x1095.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/5Q76XJF7GNO2PA6LYO2BS7QVVU-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A vendor looks on as she awaits customers at her stall in Mile 12 International Market in Lagos, Nigeria May 13, 2022. REUTERS/Temilade Adelaja/File Photo</figcaption></figure>



ABUJA, Oct 15 (Reuters) &#8211; Nigeria&#8217;s inflation rate rose in September for the first time in three months, advancing to 32.70% in annual terms from 32.15% in August, the statistics agency said on Tuesday.



Analysts had said the inflation slowdown in July and August could be short-lived, after three petrol price increases since early September that have roiled citizens already grappling with the worst cost-of-living crisis in a generation.



The renewed rise in inflation raises the prospect the central bank could choose to continue with its rate-hiking cycle, after five hikes so far this year.



The Central Bank of Nigeria&#8217;s next rate decision is due to be announced on Nov. 26.



Nigeria&#8217;s petrol price increases are part of President Bola Tinubu&#8217;s government&#8217;s efforts to exit a costly fuel subsidy programme that has strained the public finances of Africa&#8217;s most populous nation.



Other reforms launched by Tinubu to try to lift economic growth and woo investment include devaluing the country&#8217;s naira currency, another strong contributor to inflationary pressures alongside crop damage caused by floods in food-growing regions.



Data from the National Bureau of Statistics on Tuesday showed food inflation rose to 37.77% year on year in September from 37.52% the previous month.



Economists expect the disinflation process to resume in the coming months, potentially allowing the central bank to switch from a hiking to an easing cycle early next year.



(Reporting by Elisha Bala-Gbogbo in Abuja Additional reporting by Shamsuddin Mohd in Bengaluru; Editing by Alexander Winning and Barbara Lewis)

FILE PHOTO: A vendor looks on as she awaits customers at her stall in Mile 12 International Market in Lagos

Nigeria inflation rises for first time in three months

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="520" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/4SUMNVX4NJLMHGKOGXXS3REQBI-820x520.jpg" alt="" class="wp-image-542390" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/4SUMNVX4NJLMHGKOGXXS3REQBI-820x520.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/4SUMNVX4NJLMHGKOGXXS3REQBI-300x190.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/4SUMNVX4NJLMHGKOGXXS3REQBI-142x90.jpg 142w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/4SUMNVX4NJLMHGKOGXXS3REQBI-768x487.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/4SUMNVX4NJLMHGKOGXXS3REQBI-1536x974.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/4SUMNVX4NJLMHGKOGXXS3REQBI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A man carries bread as he walks towards a grocery store, on a flooded street in Bamako, Mali September 23, 2024.REUTERS/Aboubacar Traore</figcaption></figure>



N&#8217;DJAMENA Oct 15 (Reuters)&nbsp;&#8211;&nbsp;Father-of-seven Dah Toubada Kadapia stood on a stack of homemade sandbags in his backyard in Chad&#8217;s capital N&#8217;Djamena, surrounded by floodwaters that locals say have risen higher than past years, causing more damage than ever.



Over the last few months, heavy rains have flooded every one of Chad&#8217;s 23 provinces, burst a dam in northern Nigeria, damaged ancient buildings in Niger&#8217;s desert town of Agadez, and killed more than 1,460 people in the countries on the fringes of the Sahara, according to U.N. aid agency OCHA.



On one hand they were annual rains flagged up in advance with forecasts of particularly heavy downpours, raising the question, said Kadapia, why officials were not better prepared.



&#8220;If only the authorities could find a solution in advance, so that every year it wasn&#8217;t just water, water, water and floods,&#8221; he said.



On the other, some of the inundations were not so predictable. Rains fell further north than usual, flooding desert areas that usually see little rainfall in Chad and elsewhere, exposing gaping holes in infrastructure and official preparedness plans.



Africa&#8217;s economic losses linked to&nbsp;floods&nbsp;have been rising. A&nbsp;report by&nbsp;the World Meteorological Organization, published in&nbsp;2021, said they jumped to $12.5 billion in 2010-19,&nbsp;more than double&nbsp;the&nbsp;average of the&nbsp;preceding three decades.



And experts say there is worse to come.



The Sahel is increasingly threatened by floods due to changes in natural climate patterns, greater rainfall intensity, poor urban planning and other causes, according to a 2021 study in the Journal of Hydrology, which noted that &#8220;widespread havoc and devastation are becoming commonplace&#8221;.



<h2 class="wp-block-heading" id="h-we-lost-everything">&#8216;WE LOST EVERYTHING&#8217;</h2>



A year after that paper was published, West and Central Africa was swept by one of the worst seasonal flooding disasters on record with more than 8.5 million people affected across 20 countries, according to OCHA.



This season, intense heat over the Sahara and other factors pulled the monsoon belt further north than usual, causing downpours in usually arid desert areas, said Wassila Thiaw, deputy director of the U.S. National Oceanic and Atmospheric Administration&#8217;s Climate Prediction Centre.



Compared with the 1991-2020 rainfall record, this July-September period was among the five wettest years in much of Niger, Chad and parts of western Mali.



Some areas in western Niger and Mali, and the border between Niger and Nigeria, saw more rainfall than in the calamitous 2022 season, Thiaw said.



Social media was awash with videos of roads turned to rivers, half-submerged trucks and&nbsp;displaced people desperately trying to salvage their belongings from flooded homes.



Mali declared a state of national disaster and pushed back the start of the academic year by a month as schools filled with families driven from their homes by the floods.



Grandmother Iya Kobla sought shelter after a river in the Mali&#8217;s capital Bamako burst its banks, swamped her fishing village in ankle-deep water, and destroyed some of its mud-built homes.



&#8220;We lost everything and now my grandchildren are all sick,&#8221; she said, next to makeshift beds on a school floor.



<h2 class="wp-block-heading" id="h-a-critical-moment">A CRITICAL MOMENT</h2>



Some of these events were foreseeable. Climate experts say global warming has increased the frequency and intensity of rain. West Africa is also going through a decades-long natural cycle of wetter&nbsp;monsoons following prolonged drought from the 1970s to 1990s, NOAA&#8217;s Thiaw said.



In 2023, the WMO and other international organisations launched an action plan to improve early warning systems for impending natural disasters in Africa, which has the lowest rate of access to such systems of anywhere in the world.



However, data show that the vulnerable communities most in need of these warnings are often the worst equipped to act on them, Andrew Kruczkiewicz, senior researcher at Columbia University&#8217;s Climate School, said.



In Chad, more than 40% of the population live in poverty. Meagre resources are stretched further by the presence of 2 million refugees, many living in basic camps.



&#8220;It&#8217;s incomplete to say if there were an early warning system, that action would have been taken and impact would be averted &#8230; There are many other elements that must be addressed,&#8221; Kruczkiewicz said, referring to the need for a pre-agreed plan, funding, community buy-in and other essentials.



&#8220;We&#8217;re at a critical moment and the West and Central Africa case exemplifies that, because the (rain) forecasts were there.&#8221;



(Additional reporting by Idrissa Sangare in Bamako; Editing by Andrew Heavens)

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African online retailer Jumia to exit South Africa and Tunisia

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