<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="483" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/RUOSHILXAJKG3G5CGAZV5P4VJQ.avif" alt="" class="wp-image-564824"/><figcaption class="wp-element-caption">Soccer Football &#8211; FIFA World Cup Qatar 2022 &#8211; Final &#8211; Argentina v France &#8211; Lusail Stadium, Lusail, Qatar &#8211; December 18, 2022 General view of Argentina&#8217;s Lionel Messi lifting the trophy as he celebrates winning the World Cup REUTERS/Hannah Mckay/File Photo</figcaption></figure>



Dec 10 (Reuters)&nbsp;&#8211;&nbsp;FIFA is set to confirm the hosts of the 2030 and 2034 men&#8217;s World Cups on Wednesday, with a three-continent, six-nation bid led by Morocco, Spain and Portugal to be awarded the former and the latter going to Saudi Arabia.



In October last year, the global soccer governing body said there were no competing bids for the two tournaments, making Wednesday&#8217;s decision little more than a formality.



A day before the announcement it was still not clear exactly what format a vote on the decision would adopt, with acceptance by &#8220;acclamation&#8221; expected rather than a formal vote.



On Tuesday, the Norwegian Football Federation (NFF) said it would vote against the awarding of hosting rights by acclamation and criticised FIFA&#8217;s bidding process, saying it was &#8220;flawed and inconsistent&#8221;.



BIDS



Morocco, Spain and Portugal&#8217;s combined proposal will see the 2030 World Cup take place across three continents and six countries to mark the tournament&#8217;s centenary, with Uruguay, Argentina and Paraguay hosting celebratory games.



Uruguay hosted the first ever World Cup in 1930.



Argentina, Chile, Uruguay and Paraguay had in 2022 submitted a joint bid to host the 2030 World Cup, but FIFA announced last year that Argentina, Uruguay and Paraguay would instead each host one match during the tournament.



Saudi Arabia will become the second nation from the Middle East to host the quadrennial tournament in 2034, 12 years after neighbours Qatar staged the 2022 edition.



Australia and Indonesia were in talks over a joint bid for the 2034 tournament, but dropped out before Saudi was announced as the sole bidder.



HURDLES



Both bids have already been criticised.



The decision to host the 2030 World Cup across three continents has been panned by climate activists because of the increased emissions from the extra travel required.



FIFA has said it will take measures to &#8220;mitigate the environmental impact&#8221;.



The 2034 bid by Saudi Arabia has been criticised because of the country&#8217;s human rights record and desert climate, much in the same way as the Qatar World Cup.



The Saudi climate will likely force FIFA to hold the tournament in the Northern Hemisphere winter, just like it did in Qatar, where the event took place from late November to mid-December.



That timeframe will coincide with the Muslim holy month of Ramadan, with reports now suggesting the 2034 tournament could be held in January instead, risking a clash with the Winter Olympics in Salt Lake City.



FIFA said the Saudi bid did not stipulate a proposed window and that they would collaborate with stakeholders to &#8220;determine the optimal timing&#8221;.



HUMAN RIGHTS



A World Cup in Saudi Arabia will also spark debate about the Kingdom&#8217;s record on human rights and lead to accusations of &#8216;sportswashing&#8217;.



Amnesty International and the Sport &amp; Rights Alliance (SRA) last month urged FIFA to halt the process to pick Saudi as hosts unless it announces major reforms before the vote.



The Kingdom has invested heavily in sport over the last few years, although critics, including women&#8217;s rights groups and members of the LGBTQ community, allege it is using its Public Investment Fund to sportswash its human rights record.



The country denies accusations of human rights abuses and says it protects its national security through its laws.



Hammad Albalawi, head of Saudi Arabia&#8217;s bid, told Reuters this month that the country has made significant progress in human rights.



(Reporting by Aadi Nair in Bengaluru; Editing by Christian Radnedge)

RUOSHILXAJKG3G5CGAZV5P4VJQ

FIFA to confirm World Cup hosts, Saudi set to stage 2034 tournament

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="469" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/I7JNEWQ4GVLM3NU76F6XVVSAV4.avif" alt="" class="wp-image-564821"/><figcaption class="wp-element-caption">People walk on the street around Kwame Nkrumah circle in Accra, Ghana, December 2, 2016. Picture taken December 2, 2016. REUTERS/Luc Gnago/File Photo</figcaption></figure>



ACCRA, Dec 11 (Reuters)&nbsp;&#8211;&nbsp;Ghana&#8217;s economic growth quickened in the third quarter in a further sign of the west African country&#8217;s ongoing recovery from its worst economic crisis in a generation, statistics agency data showed on Wednesday.



Gross domestic product grew by 7.2% year-on-year in the third quarter of 2024, the most since the second quarter of 2019, the data showed.



The positive economic momentum comes as a new president and government prepare to take office on Jan. 7 after ex-president and main opposition leader John Dramani Mahama won Saturday&#8217;s election.



Growth in the second quarter of 2024 was revised to 7.0% from 6.9%, the agency said.



Ghana&#8217;s industrial sector, largely driven by mining and quarrying, grew by 10.4%, while the services sector expanded by 6.4% and the agricultural sector by 3.2%.



The cocoa sector in the world&#8217;s second biggest producer, however, contracted for the fifth consecutive quarter by 26%, the data showed.



Ghana defaulted on most of its external debt in 2022, leading to a painful restructuring.



Its cedi currency has been strengthening, but high inflation and government debt sustainability remain a concern for investors.



(Reporting by Maxwell Akalaare Adombila and Christian Akorlie; Writing by Anait Miridzhanian; Editing by Alex Richardson and Bernadette Baum)

I7JNEWQ4GVLM3NU76F6XVVSAV4

Ghana’s economy grew 7.2% in third quarter in recovery from crisis

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="471" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/SA-INFLATION.avif" alt="" class="wp-image-524647"/><figcaption class="wp-element-caption">Shoppers look for items as they shop at an outlet of retailer Checkers in Sandton City mall, in Sandton, South Africa, August 28, 2024. REUTERS/Lelethu Madikane </figcaption></figure>



JOHANNESBURG, Dec 11 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s&nbsp;inflation rate&nbsp;rose less than expected in November,&nbsp;staying&nbsp;just below the central bank&#8217;s target range&nbsp;thanks to food inflation slowing&nbsp;to its lowest level in almost 14 years.



Headline consumer inflation was 2.9% year on year in November from 2.8% in October. In month-on-month terms, inflation was at 0.0% in November, compared with -0.1% in October, Statistics South Africa data showed.



Economists polled by Reuters had forecast headline inflation would accelerate to 3.1%&nbsp;in annual terms.&nbsp;The South African Reserve Bank&nbsp;targets inflation of between 3% and 6%, aiming for the midpoint of that band.



&#8220;We expect inflation will continue to edge higher over the coming months. But it is likely to remain contained and stay below the 4.5% target midpoint,&#8221; Jason Tuvey, deputy chief emerging markets economist at Capital Economics,&nbsp;said.



The central bank last month cut its main lending rate by 25 basis points (bps) for the second meeting in a row, after inflation dropped below the target range in October for the first time in years.



Tuvey said a&nbsp;50-bps cut was not out of the question at the central bank&#8217;s next policy meeting&nbsp;in January.



Food and non-alcoholic beverages&nbsp;inflation&nbsp;slowed to 2.3%&nbsp;year on year&nbsp;in November from 3.6% one month earlier, the lowest rate&nbsp;of price increases for that&nbsp;category since December 2010, the statistics agency said.



But&nbsp;a month-on-month increase in fuel prices pushed the November headline inflation figure higher in annual terms.



Annual core inflation, which excludes food and fuel prices, also came in below expectations at 3.7% in November compared with 3.9% one month earlier.



(Reporting by Tannur Anders; Editing by Alexander Winning and Kate Mayberry)

SA INFLATION

South Africa inflation rises less than expected, helped by food

<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-1161864874-820x547.jpg" alt="" class="wp-image-505638" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864874-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Dec 11 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand weakened early on Wednesday ahead of domestic and U.S. inflation readings which could give clues on the future interest rate path of both countries.



At 0711 GMT, the rand traded at 17.85 against the U.S. dollar, about 0.2% softer than its previous close.



Markets will look to November consumer inflation data out of the world&#8217;s biggest economy on Wednesday to challenge or cement bets of an interest rate cut by the Federal Reserve next week. Markets expect a 25-basis-point cut on Dec. 18.



Likewise, South Africa-focussed investors will at 0800 GMT look to the November inflation print for hints on the policy path of its central bank when it meets in January.



Economists polled by Reuters expect South Africa&#8217;s inflation to accelerate to 3.1% year on year in November, up from 2.8% recorded in October.



At 1100 GMT, focus will be on South Africa&#8217;s October retail sales figures.



On the Johannesburg Stock Exchange, the blue-chip Top-40 index was down about 0.5% in early trade.



South Africa&#8217;s benchmark 2030 government bond was flat in early deals, with the yield at 8.97%.



(Reporting by Tannur Anders)

South African Rand Rebound Snaps Streak of Weekly Losses

South African rand weaker before local, US inflation data

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108072174-1733432641152-gettyimages-2186442290-AFP_36ND9GA-820x461.jpeg" alt="" class="wp-image-564731" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108072174-1733432641152-gettyimages-2186442290-AFP_36ND9GA-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108072174-1733432641152-gettyimages-2186442290-AFP_36ND9GA-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108072174-1733432641152-gettyimages-2186442290-AFP_36ND9GA-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108072174-1733432641152-gettyimages-2186442290-AFP_36ND9GA-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108072174-1733432641152-gettyimages-2186442290-AFP_36ND9GA-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/108072174-1733432641152-gettyimages-2186442290-AFP_36ND9GA.jpeg 1858w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A man shops at a Target store in Chicago on November 26, 2024. Kamil Krzaczynski | AFP | Getty Images</figcaption></figure>



A key economic report coming Wednesday is expected to show that progress has stalled in bringing down the inflation rate, though not so much that the Federal Reserve won’t lower interest rates next week.



The consumer price index, a broad measure of goods and services costs across the U.S. economy, is expected to show a 2.7% 12-month inflation rate for November, which would mark a 0.1 percentage point acceleration from the previous month, according to the Dow Jones consensus.



Excluding food and energy, so-called core inflation is forecast at 3.3%, or unchanged from October. Both measures are projected to show 0.3% monthly increases.



With the Fed targeting annual inflation at 2%, the report will provide more evidence that the high cost of living remains very much a fact of life for U.S. households.



“Looking at these measures, there’s nothing in there that says the inflation dragon has been slain,” said Dan North, senior economist at Allianz Trade Americas. “Inflation is still here, and it doesn’t show any convincing moves towards 2%.”



Along with the read Wednesday on consumer prices, the Bureau of Labor Statistics on Thursday will release its producer price index, a gauge of wholesale prices that is projected to show a 0.2% monthly gain.



<h2 class="wp-block-heading" id="h-halting-progress-but-more-cuts"><a></a>Halting progress, but more cuts</h2>



To be sure, inflation has moved down considerably from its CPI cycle peak around 9% in June 2022. However, the cumulative impact of price increases has been a burden to consumers, particularly those at the lower end of the wage scale. Core CPI has been drifting higher since July after showing a steady series of declines.



Still, traders in futures markets are placing huge odds that policymakers again will cut their benchmark short-term borrowing rate by a quarter of a percentage point when the Federal Open Market Committee concludes its meeting Dec. 18. Odds of a cut were near 88% on Tuesday morning, according to the CME Group’s FedWatch measure.



“When the market is locked in like where it is today, the Fed doesn’t want to make a big surprise,” North said. “So unless something has skyrocketed that we haven’t foreseen, I’m pretty sure the Fed is on a lock here.”



The CPI increase for November likely came from a few key areas, according to Goldman Sachs.



Car prices are expected to show a 2% monthly increase, while air fares are seen as 1% higher, the firm’s economists projected in a note. In addition, the nettlesome increase in auto insurance is likely to continue, rising 0.5% in November after posting a 14% increase over the past year, Goldman estimated.



<h2 class="wp-block-heading"><a></a>More trouble ahead</h2>



While the firm sees “further disinflation in the pipeline over the next year” from easing in the autos and housing rental categories, as well as softening in the labor markets, it also worries that President-elect Donald Trump’s planned tariffs could keep inflation elevated in 2025.



Goldman projects core CPI inflation will soften, but just to 2.7% next year, while the Fed’s target inflation gauge, the personal consumption expenditures price index, will move to 2.4% on the core reading from its most recent 2.8% level.



With inflation projected to run well above 2% and macro economic growth still running near 3%, this wouldn’t normally be an environment in which the Fed would be cutting. The Fed uses higher interest rates to curb demand, which theoretically would force businesses to lower prices.



Markets expect the Fed to skip the January meeting then possibly cut again in March. From there, market pricing is for only one or at most two cuts through the rest of 2025.



“Two percent to me doesn’t mean just touching 2% and bouncing along. It means hitting 2% for a continuous, foreseeable future, and none of that is evident in any of those reports,” North said. “You don’t really want to cut in that environment.”

108072174-1733432641152-gettyimages-2186442290-AFP_36ND9GA

The CPI report Wednesday is expected to show that progress on inflation has hit a wall

Lab-grown meat is on the rise — here’s how it is made

Has AI Already Peaked?

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="542" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/MWJNRTIKPBIWTA3IJGUOFSGGVQ-820x542.jpg" alt="" class="wp-image-564438" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/MWJNRTIKPBIWTA3IJGUOFSGGVQ-820x542.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/MWJNRTIKPBIWTA3IJGUOFSGGVQ-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/MWJNRTIKPBIWTA3IJGUOFSGGVQ-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/MWJNRTIKPBIWTA3IJGUOFSGGVQ-768x508.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/MWJNRTIKPBIWTA3IJGUOFSGGVQ-1536x1016.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/MWJNRTIKPBIWTA3IJGUOFSGGVQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Locals walk past barricades that were used by protesters after the ruling Frelimo party was declared the winner of this month&#8217;s disputed election, in Maputo, Mozambique, October 25, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Dec 10 (Reuters) &#8211; South32 has withdrawn its output forecast for its Mozal Aluminium smelter in Mozambique amid post-election civil unrest, the Australian company said on Tuesday.



October&#8217;s disputed election results sparked protests from opposition supporters and there has been escalating violence since.



South32, which has a 63.7% stake in the Mozal Aluminium smelter, said the unrest had led to road blockages that have hampered the delivery of raw materials to the plant.



It had previously estimated output of 360 kilotonnes from the smelter this fiscal year. The project contributed about 28% of South32&#8217;s total aluminium output in fiscal 2024.



South African mining companies that ship minerals including chrome through the port of Maputo in Mozambique have also been hit by the unrest, which has on some days led to the closure of the main border between the neighbouring countries.



South African companies have grown increasingly reliant on routing cargo via the Maputo port as state-owned logistics group Transnet struggles to provide adequate freight rail and port services.



A spokesperson for miner Tharisa, which ships chrome via Maputo, told Reuters that the company had been affected by the latest border closure.



&#8220;It&#8217;s a significant amount of trucks that we have on the road,&#8221; said Ilja Graulich, adding that Tharisa may consider declaring a force majeure to its customers if the latest border closure is prolonged.



(Reporting by Felix Njini in Johannesburg and Sherin Sunny in Bengaluru. Editing by Savio D&#8217;Souza and Mark Potter)

Mozambique’s ruling party retains power in contested election

Mozambique’s post-election protests hit South32 plant, chrome exports

<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, Dec 10 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand softened early on Tuesday, at the start of a day packed with local economic data releases.



At 0626 GMT, the rand traded at 17.81 against the U.S. dollar, about 0.2% weaker than Monday&#8217;s close.



South Africa-focussed investors will look to October&#8217;s mining production data at 0930 GMT and the manufacturing output figures for the same month at 1100 GMT.



Although the releases will not be market-moving individually, together they are important indicators of economic performance, analysts said.



Also on the investors&#8217; radars will be November&#8217;s Business Confidence Index, due at 0930 GMT, for signs of private sector sentiment towards Africa&#8217;s most industrialised economy.



South Africa&#8217;s benchmark 2030 government bond was little changed in early deals, with the yield at 8.895%.



(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 softens at start of data-filled day

<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, Dec 10 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.



EVENTS:



*Rwanda&#8217;s and Tanzania&#8217;s statistics offices release their respective consumer inflation data for November.



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



China stocks surged and commodities and the Australian dollar found support on Tuesday on Beijing&#8217;s new promises of rate cuts and a boost to consumption, while global stocks were wobbly ahead of a crucial U.S. inflation reading.



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



Oil prices eased only slightly on Tuesday, holding on to most of their gains from the prior session as mounting geopolitical risk after the fall of Syrian President Bashar al-Assad and China&#8217;s vow to ramp up policy stimulus kept a floor under prices.



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



South Africa&#8217;s rand jumped on Monday at the start of a week packed with economic data releases, as gold prices climbed after China&#8217;s central bank resumed purchases of the bullion.



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



Equinor has closed the planned sale of its assets in Nigeria and Azerbaijan for a total consideration of up to $2 billion, completing exits from the two countries after some 30 years, the Norwegian oil and gas firm said on Monday.



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



The Kenyan shilling was stable on Monday, but traders expected the currency to post gains, driven by inflows from non-governmental organizations and remittances.



<h2 class="wp-block-heading" id="h-kenya-economy">KENYA ECONOMY</h2>



The World Bank downgraded Kenya&#8217;s economic growth estimate for this year to 4.7% on Tuesday, from an initial 5.0%, citing the impact of floods, anti-government protests and flailing fiscal consolidation efforts.



<h2 class="wp-block-heading" id="h-mauritius-economy">MAURITIUS ECONOMY</h2>



The state of Mauritius&#8217; economy is &#8220;much worse than we imagined&#8221;, its new prime minister said, as an audit he launched into the Indian Ocean archipelago&#8217;s public finances neared completion.



<h2 class="wp-block-heading" id="h-ghana-election">GHANA ELECTION</h2>



Ghana&#8217;s electoral commission on Monday declared ex-president and main opposition leader John Dramani Mahama winner of Saturday&#8217;s presidential election with 56.55% of the vote, according to provisional results.



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



Cocoa arrivals at ports in top grower Ivory Coast had reached 820,000 metric tons by December 8 since the start of the season on Oct. 1, up from 612,000 tons the same period last season, exporters estimated on Monday.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Dec 10

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-820x547.jpg" alt="" class="wp-image-564339" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The World Bank Group headquarters during the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Thursday, April 13, 2023. The IMF trimmed its global-growth projections, warning of high uncertainty and risks as financial-sector stress adds to pressures emanating from tighter monetary policy. Photographer: Samuel Corum/Bloomberg via Getty Images</figcaption></figure>



NAIROBI, Dec 10 (Reuters)&nbsp;&#8211;&nbsp;The World Bank downgraded Kenya&#8217;s economic growth estimate for this year to 4.7% on Tuesday, from an initial 5.0%, citing the impact of floods, anti-government protests and flailing fiscal consolidation efforts.



The East African nation has managed to stabilise its foreign exchange rate, boost hard currency reserves held by the central bank and lower inflation this year, but it still faces a high risk of debt distress, the World Bank said in a new report.



&#8220;Debt vulnerabilities including elevated debt servicing costs, accumulated pending bills, and missing revenue targets remain key challenges,&#8221; the bank said in the Kenya Economic Update report, which is usually published twice a year.



Although the growth estimate for this year is lower than last year&#8217;s rate of 5.6%, it will still be higher than the sub-Saharan Africa average of 3.0%, the bank said.



Kenya&#8217;s growth will, however, inch up to 5.1% in the medium term, it said, if the government successfully deals with the fiscal challenges.



&#8220;Revenue shortfalls resulted in additional spending cuts, and rising financing needs resulted in increased domestic borrowing,&#8221; the World Bank said.



Apart from the problems caused by a high debt load, the attendant servicing costs and flagging government revenues, the economy faces social unrest and financial risks, the report found.



Deadly protests in June forced President William Ruto to abandon tax hikes meant to raise more than $2 billion in additional revenue, which dampened investor sentiment.



The protests came hot on the heels of widespread flooding in April and May, which also caused disruptions.



Non-performing loans in the banking sector have also been growing, the report said, as borrowers struggle to service their loans amid high interest rates and a slowdown in economic activity.



The bank urged the government to tackle &#8220;structural imbalances&#8221; that &#8220;hinder Kenya&#8217;s goal of sustained and inclusive growth&#8221; that creates higher quality jobs for the people.



(Reporting by Duncan Miriri; Editing by Ros Russell)

Spring Meetings Of The International Monetary Fund And World Bank

World Bank cuts Kenya’s 2024 growth estimate to 4.7% on fiscal challenges

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3288" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/DCHRVBQRQ5MELH6UNHHLJO57MY.avif" alt="" class="wp-image-564051"/><figcaption class="wp-element-caption">National Democratic Congress (NDC) presidential candidate and former Ghanaian President John Dramani Mahama salutes supporters during his final election campaign rally in Accra, Ghana December 5, 2024. REUTERS/Zohra Bensemra/File Photo</figcaption></figure>



ACCRA, Dec 9 (Reuters)&nbsp;&#8211;&nbsp;John Dramani Mahama, who is returning as Ghana&#8217;s president eight years after losing power, achieved his political comeback on a promise to mend the West African country&#8217;s economy.



His main rival conceded defeat on Sunday after partial results showed Mahama, 66, was on course to win Saturday&#8217;s presidential election and that his National Democratic Congress would win a parliamentary election held the same day.



The eldest son of a wealthy rice trader turned politician, Mahama became Ghana&#8217;s interim leader in 2012 after the sudden death of President John Atta Mills, under whom Mahama served as vice president.



Mahama defeated his main challenger, Akufo-Addo, in an election a few months later &#8211; the first in a series of votes that pitted the two against each other.



During his four-year term, Mahama invested heavily in infrastructure but drew criticism over prolonged power shortages, macroeconomic instability and allegations of political corruption although he was not personally tainted.



Polls before Saturday&#8217;s election had forecast Mahama to win after a spiralling economic and cost-of-living crisis in cocoa, gold and oil-producing Ghana hit the popularity of Akufo-Addo&#8217;s government and increased momentum for a change in leadership.



In an interview with Reuters before the election, Mahama said he would seek to renegotiate terms of a $3 billion International Monetary Fund bailout secured last year to restructure the country&#8217;s debt.



He has also promised to ease business regulations, introduce a 24-hour triple-shift work system, enact tax reforms and invest $10 billion in modernising infrastructure.



&#8220;This election is not just another election. It&#8217;s a defining moment for our nation,&#8221; he told his final campaign rally, urging voters to &#8220;reset the country&#8221;.



<h2 class="wp-block-heading" id="h-thank-you-ghana">&#8216;THANK YOU, GHANA&#8217;</h2>



Mahama went to a private boarding school in Accra and also studied communications in the capital at the University of Ghana in the 1980s before moving to Moscow to study psychology.



He was first elected to parliament in 1996 and served as communications minister from 1998 to 2001. Atta Mills appointed him vice president in 2009.



Mahama failed to secure a second term as president in 2016, when Akufo-Addo defeated him on the back of falling gold, oil and cocoa export prices. Akufo-Addo defeated Mahama again in 2020 on a promise to restore growth.



Celebrating what he called an emphatic win in Saturday&#8217;s election Mahama wrote on X: &#8220;Thank you, Ghana.&#8221;



Mahama was born and raised as a Christian, like the majority of Ghanaians. He is married with five children.



An avid reader and writer, he has published columns in Ghanaian and international newspapers, including an opinion piece on the death of South Africa&#8217;s first black president Nelson Mandela for the New York Times.



In 2012, he wrote a memoir in which he recalled the military coup that ousted Ghana&#8217;s founding president, Kwame Nkrumah, in 1966. Mahama was seven at the time.



(Writing by Sofia Christensen, Editing by Timothy Heritage)

DCHRVBQRQ5MELH6UNHHLJO57MY

John Dramani Mahama returning as Ghana president on pledge to mend economy

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-169658566-820x547.jpg" alt="" class="wp-image-564033" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-169658566-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-169658566-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-169658566-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-169658566-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-169658566-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-169658566-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">PORT LOUIS, MAURITIUS &#8211; MAY 30: Prime Minister Navin Ramgoolam of Mauritius speaks during the opening ceremony of the 63th FIFA Congress at Swami Vivekananda International Convention Centre on May 30, 2013 in Port Louis, Mauritius. (Photo by Alexander Hassenstein &#8211; FIFA/FIFA via Getty Images)</figcaption></figure>



PORT LOUIS, Dec 9 (Reuters)&nbsp;&#8211;&nbsp;The state of Mauritius&#8217; economy is &#8220;much worse than we imagined&#8221;, its new prime minister said, as an audit he launched into the Indian Ocean archipelago&#8217;s public finances neared completion.



Navin Ramgoolam announced the audit days after his coalition won a resounding election victory in November, alleging the previous government had manipulated data to put a positive spin on the country&#8217;s economic prospects.



The former finance minister, Renganaden Padayachy, has not responded to requests for comment about Ramgoolam&#8217;s allegations since the launch of the audit. Padayachy did not respond to further calls and a message seeking comment on Monday.



&#8220;We are almost completing our audit of the economy. It&#8217;s shocking what we have seen. It&#8217;s much worse than we imagined. Mauritians will soon discover the exact situation of the economy,&#8221; Ramgoolam said in comments broadcast on Mauritian television and radio stations on Saturday.



Ramgoolam, who is also the&nbsp;new&nbsp;finance minister, did not provide any figures to back up his weekend comments.



The country of about 1.3 million people is seen as one of Africa&#8217;s most stable democracies.



Mauritius&nbsp;markets itself as a link between Africa and Asia, deriving most of its revenue from a flourishing offshore financial sector, tourism and textiles.



Economic growth was 7% last year, but the rising cost of living was a key issue in the election, colouring voters&#8217; views on the previous government led by Pravind Jugnauth.



(Reporting by Villen Anganan; Writing by George Obulutsa; Editing by Alexander Winning and Kate Mayberry)

63rd FIFA Congress – Opening Ceremony

Mauritius economy ‘much worse than we imagined’, new prime minister says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="596" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/Esha-Mansingh_landscape-820x596.jpg" alt="" class="wp-image-563982" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/Esha-Mansingh_landscape-820x596.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/Esha-Mansingh_landscape-300x218.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/Esha-Mansingh_landscape-124x90.jpg 124w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/Esha-Mansingh_landscape-768x559.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/Esha-Mansingh_landscape-1536x1117.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/Esha-Mansingh_landscape.jpg 1815w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Esha Mansingh, Head: Corporate Affairs &amp; Sustainability for sub-Saharan Africa at DP World</figcaption></figure>



Sub-Saharan Africa is a rapidly growing market with vast potential to reshape the global trade landscape and drive holistic, positive change for communities that rely on trade as the lifeblood of access to quality products and services. Its pivotal impact makes everyday life better for millions of people in the region.



In June, DP World released the findings of its independently commissioned Socio-Economic Impact Assessment (SEIA) reports, prepared by Accenture, which reveal that the company created direct and indirect value of USD 6,75 billion (₦3,46 trillion) in Nigeria and USD 6,24 billion (R111,9 billion) in South Africa during its 2022 and 2023 financial years.



The SEIA report provides a comprehensive analysis of how DP World’s logistics, trade and infrastructure projects have impacted economic drivers such as job creation, economic growth, healthcare, resource efficiency and community development. The report highlights the substantial direct and indirect socio-economic benefits of DP World’s operations in Nigeria and South Africa despite macro-economic challenges such as the COVID-19 pandemic, ensuring that the organisation leaves a lasting impact for good on the communities in which it operates.



&#8220;In these challenging times, our commitment to sustainable development and community well-being is more critical than ever,” said Esha Mansingh, Head: Corporate Affairs &amp; Sustainability for sub-Saharan Africa at DP World. “Our efforts in Nigeria and South Africa have not only supported direct and indirect jobs and improved healthcare access but have also strengthened supply chains and facilitated trade, laying the foundation for long-term economic stability and growth. We believe that our resilience and innovation are key to transforming the regions and communities in which we operate.”



In sub-Saharan Africa, DP World employs more than 28,000 people and operates across 48 markets. Its presence in the region, through its significant logistics, market access, and ports and terminals capabilities, is marked by DP World’s commitment to developing the continent and improving people’s lives through access to quality food, medicine, fuel, and many other necessities.



DP World plays a key role in connecting Africa to the world. The company invests in infrastructure, technology and talent to empower businesses, drive sustainable growth and shape the continent&#8217;s trade narrative.



Despite a challenging macroeconomic environment impacted by volatile commodity prices, high inflation, and geo-political tensions, DP World showed good progress over the reported period through the innovation and resilience of its people, and embedding sustainability throughout operations in both countries.



Mansingh stated, “We are proud to have sustained 19,000 direct jobs across the two countries and have solidified our market presence through strategic acquisitions that widen our business reach. We acknowledge the interconnectedness of the region and are intentional about widening connectivity throughout the continent for our customers.”



The organisation’s impact on communities transcends job creation and access to goods and services; it encompasses a commitment to catalysing positive transformation and effecting tangible social change in the markets in which it operates. This includes initiatives ranging from providing accessible healthcare solutions in underserved communities to leading efforts aimed at enhancing infrastructure and stimulating development.



In Nigeria, the company operates road freight, logistics warehousing, and Market Access Consumer and Healthcare businesses, managing over 17,000 sqm of healthcare warehousing, 28,000 healthcare outlets, and 240,000 distribution points.



In South Africa, DP World provides freight forwarding, bulk transport, contract logistics, and 4PL services, with a fleet of 4,250 vehicles, and over 719,250 sqm of managed warehouse space.



In South Africa alone, DP World’s initiatives have improved access to healthcare solutions in underserved communities, driving savings of USD 11 million for patients.



The trade landscape cannot thrive without a conducive and sustainable environment – which has been made all the more urgent as the world acknowledges the impact of climate change. Natural resources have become increasingly strained, placing an obligation on the shoulders of businesses to lower their carbon emissions and create sustainable practices in their operations.



DP World globally is advancing its decarbonisation strategy, targeting a 42% reduction in Scope 1 and 2 carbon emissions and 28% reduction in Scope 3 carbon emissions by 2030, and net-zero across all scopes by 2050.



Greenhouse gas emissions are grouped into three scopes, the first being emissions that are owned by the company such as from the burning of fuel in fleet. Scope 2 emissions arise from electricity use and Scope 3 emissions are indirect emissions incurred in the value chain because of the company’s activities.



By actively pursuing opportunities to minimise its environmental impact and promote efficient use of natural resources, DP World continuously embraces innovation across various fronts, including fleet management, alternative fuels, and water and waste recycling initiatives.



In South Africa, over the reporting period, this included achieving a 4,911-tonne reduction in emissions by recycling and using solar energy; a 4,911 MWh reduction in grid electricity using solar energy; and 2,2 million litres reduction in water usage through re-use initiatives. Fuel efficiency improvements for the commercial fleet continues to be a priority focus area.



In Nigeria, DP World demonstrated its resource efficiency through adding 150 new Euro 3 specification trucks, realising an 8% fuel efficiency improvement against Euro 2 equivalents.



Mansingh added, “In the broader trade ecosystem, our suppliers have the unique opportunity to harness the strength of DP World’s globally recognised brand and expansive international presence to fuel their own business growth. Through our procurement activities, we have not only reinforced their financial stability but also empowered them to scale and thrive within a highly competitive market.”



DP World has invested c. USD 3 billion in ports and logistics in Africa to date, including the acquisition of JSE listed Imperial Logistics in 2022 &#8211; a testament to the&nbsp;organisation’s&nbsp;long-term commitment to the region. Looking ahead, DP World remains&nbsp;committed to furthering&nbsp;its&nbsp;impact in Africa, with an additional c. USD&nbsp;3 billion investment in ports infrastructure and logistics development planned over the next 3&nbsp;to&nbsp;5 years. These investments will not only enhance&nbsp;DP World’s&nbsp;operational capabilities but also contribute to economic development across the continent.



DP World operates within a complex business ecosystem of external stakeholders, including governments, regulatory bodies, industry associations, shareholders, and financial institutions. By maintaining strict compliance with local regulations and fostering collaborative relationships with regulatory authorities, the company mitigates risks while building trust and transparency across its markets.



Mansingh concluded: “Recognising the deeply interconnected nature of regional economies, DP World understands that its influence extends beyond national borders, shaping the economic landscape of neighbouring countries. With a strategic focus on enhancing connectivity across Africa, we are committed to driving seamless trade flows and unlocking transformative opportunities for all stakeholders involved, creating a more integrated and prosperous future for the continent.”

Esha Mansingh_landscape

Changing what’s possible, and creating positive impact in sub-Saharan Africa’s trade environment

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="720" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GZ42FNCPGRK2ZE3SBHPBDHACCI.avif" alt="" class="wp-image-563964"/><figcaption class="wp-element-caption">Supporters of Ghana&#8217;s main opposition National Democratic Congress (NDC) party candidate and former President John Dramani Mahama celebrate after his rival Vice President Mahamudu Bawumia conceded defeat day after the presidential and parliamentary election in Ghana, December 8, 2024. REUTERS/Zohra Bensemra</figcaption></figure>



ACCRA, (Reuters) &#8211; Ghana&#8217;s former President John Dramani Mahama has staged a political comeback by winning the West African nation&#8217;s presidential election after his rival Vice President Mahamudu Bawumia conceded defeat on Sunday.



The result of Ghana&#8217;s general election is another blow to a ruling party in a region where voters, hit by economic hardship, high inflation and local currency depreciation, have caused upsets as they seek changes in leadership.



Mahama, 66, who served as Ghana&#8217;s president from 2012 to 2016, framed Bawumia as representing a continuation of the policies that led to Ghana&#8217;s worst economic crisis in a generation.



The world&#8217;s second biggest cocoa grower, and major gold-producing nation, reached a deal with the International Monetary Fund last year for a $3 billion bailout after it defaulted on most of its international debt.



&#8220;I have, this morning, received a congratulatory call from my brother Dr. Bawumia, following my emphatic victory in Saturday’s election. Thank you, Ghana,&#8221; Mahama said in a post on X social media.



Addressing a press conference from his residence, Bawumia said he called Mahama to congratulate him, adding that Mahama&#8217;s National Democratic Congress (NDC) also won the parliamentary election.



&#8220;The data from our own internal collation of the election results indicate that former President John Dramani Mahama has won the presidential election decisively,&#8221; Bawumia said, adding that NDC also won the parliamentary election.



Bawumia said he conceded before the official result to ease tensions.



Before his concession, scuffles had been reported in several local constituency centres where results were still arriving from polling stations.



&#8220;I am making this concession speech before the official announcement by the Electoral Commission to avoid further tension and preserve the peace of our country,&#8221; Bawumia said.



&#8220;It is important that the world investor community continues to believe in the peaceful and democratic character of Ghana,&#8221; he added.



Hundreds of NDC supporters took to the streets of the capital Accra on Sunday to celebrate after Bawumia conceded defeat.



Early results had shown Mahama and the NDC party with a commanding lead. Joy News reported that Mahama was leading with over 53% of the vote to Bawumia&#8217;s 45.16% after provisional results from 68 out of a total 276 constituencies were counted.



In a news conference on Sunday before Bawumia conceded, Sammy Gyamfi, national spokesperson for the NDC, said provisional internally collated results by party agents from 38,896 out of the total 40,976 polling stations showed Mahama was leading with around 56%.



He said the party appeared on track to win around 185 out of 276 seats in Parliament.



(Reporting by Maxwell Akalaare Adombila, Christian Akorlie and Bate Felix Writing by Bate Felix; Editing by Kirsten Donovan and Christina Fincher)

GZ42FNCPGRK2ZE3SBHPBDHACCI

Ghana’s former President Mahama wins election

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2188369249-820x547.jpg" alt="" class="wp-image-563928" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2188369249-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2188369249-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2188369249-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2188369249-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2188369249-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-2188369249-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">ABU DHABI, UNITED ARAB EMIRATES &#8211; DECEMBER 05: Max Verstappen of the Netherlands and Oracle Red Bull Racing looks on in the Paddock during previews ahead of the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit on December 05, 2024 in Abu Dhabi, United Arab Emirates. (Photo by Mark Thompson/Getty Images)</figcaption></figure>



ABU DHABI, Dec 8 (Reuters)&nbsp;&#8211;&nbsp;Formula One world champion Max Verstappen will serve a penalty for swearing when he visits Rwanda next week to collect his winner&#8217;s trophy, the governing FIA said on Sunday.



Verstappen, who secured his fourth successive championship in Las Vegas last month, was ordered to do &#8220;work of public interest&#8217; after swearing during a Singapore Grand Prix press conference in September.



The FIA&#8217;s prize-giving gala is in Kigali next week, a first for the governing body.



It said after the season-ending Abu Dhabi Grand Prix that the Red Bull driver &#8220;would undertake some work with junior competitors as part of the grassroots development programme organised by the Rwanda Automobile Club&#8221;.



The activity will involve an FIA Affordable Cross Car built locally from blueprints provided by the governing body.



The Dutch driver collected a 10-second penalty in Sunday&#8217;s season-ending Abu Dhabi Grand Prix after a first-lap collision with McLaren&#8217;s Oscar Piastri.



While Verstappen apologised to Piastri, he was less complimentary about the stewards who gave him the time penalty and two penalty points on his licence.



The 27-year-old now has a total of eight points for the 12-month period, with 12 triggering an automatic one-race ban.



&#8220;Could we ask for 20 seconds, stupid idiots,&#8221; he said over the radio, a reference to the two 10-second penalties he received in Mexico in October.



The&nbsp;Piastri collision&nbsp;could have been disastrous for McLaren, who were fighting Ferrari for the constructors&#8217; title and emerged on top thanks to Lando Norris winning from pole position.



&#8220;I apologised to Oscar. I never want to crash with anyone, especially not Oscar who is a great guy,&#8221; Verstappen told Sky Sports television.



&#8220;I went up the inside because we had a really good launch but then I realised that it was going to be tight at the apex.



&#8220;I tried to stay on the kerb but unfortunately we clipped with the tyres, hooked each other and both spun. It&#8217;s not great, as simple as that.&#8221;



Piastri fought back to 10th and McLaren&nbsp;became&nbsp;champions for the first time in 26 years,&nbsp;by 14 points.



(Reporting by Alan Baldwin, editing by Toby Davis and Clare Fallon)

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Ghana’s former President Mahama wins election

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FIFA to confirm World Cup hosts, Saudi set to stage 2034 tournament

Ghana’s economy grew 7.2% in third quarter in recovery from crisis

South Africa inflation rises less than expected, helped by food

South African rand weaker before local, US inflation data

The CPI report Wednesday is expected to show that progress on inflation has hit a wall

Lab-grown meat is on the rise — here’s how it is made

Has AI Already Peaked?

Mozambique’s post-election protests hit South32 plant, chrome exports

South African rand softens at start of data-filled day

African Markets – Factors to watch on Dec 10

World Bank cuts Kenya’s 2024 growth estimate to 4.7% on fiscal challenges

John Dramani Mahama returning as Ghana president on pledge to mend economy

Mauritius economy ‘much worse than we imagined’, new prime minister says

Changing what’s possible, and creating positive impact in sub-Saharan Africa’s trade environment

Ghana’s former President Mahama wins election

Motor racing-Verstappen to serve swearing penalty in Rwanda

Why Facebook-Parent Meta Is Willing To Lose Billions On The Metaverse

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