<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="550" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/PNMN5P5AAJOZRODXA2VOYSBQQY-820x550.jpg" alt="" class="wp-image-415328" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/PNMN5P5AAJOZRODXA2VOYSBQQY-820x550.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/PNMN5P5AAJOZRODXA2VOYSBQQY-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/PNMN5P5AAJOZRODXA2VOYSBQQY-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/PNMN5P5AAJOZRODXA2VOYSBQQY-768x515.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/PNMN5P5AAJOZRODXA2VOYSBQQY-1536x1030.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/PNMN5P5AAJOZRODXA2VOYSBQQY-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: European Commission President Ursula von der Leyen speaks to officials during a tour of the Pasteur Institute vaccination and testing facility, in Dakar, Senegal, February 9, 2022. REUTERS/Edward McAllister/File Photo</figcaption></figure>



BRUSSELS, Feb 17 (Reuters)&nbsp;&#8211;&nbsp;The EU welcomed&nbsp;more than 40 African leaders to Brussels on Thursday in an effort to reassert its influence on a continent where China and Russia have made hefty investment inroads, and where many felt let down by Europe&#8217;s COVID-19 vaccines rollout.



The European Union will offer several packages of support at the summit to bolster health, education and stability in Africa, and will pledge half of a new 300 billion euro ($340.9 billion)investment drive launched to rival China&#8217;s Belt and Road Initiative.



But the meeting also takes place just as France and its allies fighting Islamist militants in Mali said on Thursday they would begin their military withdrawal from the country.<a href="https://www.reutersconnect.com/all?search=all%3AL8N2US2QG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



European and other wealthy nations were heavily criticised for hoarding protective equipment and later vaccines during the pandemic, with some African leaders saying the slow pace of donations could lead to &#8220;vaccine apartheid&#8221;.



<h3 class="wp-block-heading" id="read-more-after-g7-pledge-eu-seeks-to-rival-china-s-belt-and-road-with-own-infrastructure-plan">Read more: <a href="https://www.cnbcafrica.com/2021/after-g7-pledge-eu-seeks-to-rival-chinas-belt-and-road-with-own-infrastructure-plan/">After G7 pledge, EU seeks to rival China’s ‘Belt and Road’ with own infrastructure plan</a></h3>



By the start of February, only 11% of Africans were fully vaccinated against the coronavirus &#8211; far fewer than in richer parts of the world.



Sierra Leone President Julius Maada Bio challenged Europeans to remember there are &#8220;human beings on the other side&#8221; in Africa who have been left behind in the unequal global response to COVID-19, adding this has security implications.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2US63Y&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



There was also dismay over Europe&#8217;s travel bans on South Africa after the Omicron variant was detected there late last year.



South African President Cyril Ramaphosa said he and other African leaders would raise the issue of intellectual property rights for COVID vaccines and treatments. Many developing countries want these rights waived, but face opposition from rich nations, including many in the EU.



<h2 class="wp-block-heading" id="thorny-issues">THORNY ISSUES</h2>



Tensions run deeper on other issues between two continents with colonial ties, including over migration flows and the erosion of democracy in several African countries, some of which have recently seen coups d&#8217;etat including Mali.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2UC5F1&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Frank Mattheis, an expert in regional studies at the United Nations University, said the summit would seek to highlight areas where cooperation is promising and avoid thorny issues.



The European Commission announced this week that the EU and the Gates Foundation would invest&nbsp;more than&nbsp;100 million euros in the next five years to help set up an African medicines regulator to boost the continent&#8217;s drugs and vaccine production.<a href="https://www.reutersconnect.com/all?search=all%3AL1N2UQ1F5&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The race to establish the African Medicines Agency (AMA) comes after the pandemic exposed the region&#8217;s dependence on imported vaccines.



Just over 5% of medicines and 1% of vaccines consumed by Africa&#8217;s population of 1.2 billion people are produced locally. The EU says it will provide support to help Africa produce 60% of the vaccines it needs by 2040.



<h3 class="wp-block-heading" id="read-more-who-warns-new-covid-variants-could-emerge-that-are-fully-resistant-to-vaccines-as-pandemic-drags-on">Read more: <a href="https://www.cnbcafrica.com/2021/who-warns-new-covid-variants-could-emerge-that-are-fully-resistant-to-vaccines-as-pandemic-drags-on/">WHO warns new Covid variants could emerge that are fully resistant to vaccines as pandemic drags on</a></h3>



Part of the funding for the AMA will come from 150 billion euros to be mobilised for Africa over the next seven years under the EU&#8217;s Global Gateway scheme.



Separately, the European Investment Bank announced on Thursday it would make available 500 million euros in cheap loans to African countries to strengthen healthcare systems. That credit line is expected to mobilise a total of 1 billion euros in private and public investments, the bank said.



W. Gyude Moore, a senior policy analyst at the Center for Global Development, welcomed the investment pledge and said he hoped it would start a partnership of true equals.



&#8220;But there is a long history of unfulfilled promises like this when it comes to the EU and Africa, so the African Union, while cautiously optimistic, will remain sceptical until this pledge is converted into projects on the ground.”



($1 = 0.8800 euros)



(Additional reporting by Philip Blenkinsop and Francesco Guarascio in Brussels; Duncan Miriri and Katharine Houreld in NairobiEditing by Gareth Jones, Frances Kerry and Andrew Heavens)

FILE PHOTO: EU Commission President Ursula von der Leyen speaks to officials during a tour of the Pasteur Institute in Dakar

EU launches reset with Africa after pandemic disruption

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="619" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/5RJ4MICTXZOIXCRIPYRS2ZKQDI-820x619.jpg" alt="" class="wp-image-415324" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/5RJ4MICTXZOIXCRIPYRS2ZKQDI-820x619.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/5RJ4MICTXZOIXCRIPYRS2ZKQDI-300x227.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/5RJ4MICTXZOIXCRIPYRS2ZKQDI-119x90.jpg 119w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/5RJ4MICTXZOIXCRIPYRS2ZKQDI-768x580.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/5RJ4MICTXZOIXCRIPYRS2ZKQDI.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Sierra Leone&#8217;s President Julius Maada Bio speaks during an interview with Reuters in Brussels, Belgium, February 17, 2022. REUTERS/Phil Blenkinsop </figcaption></figure>



BRUSSELS, Feb 17 (Reuters)&nbsp;&#8211;&nbsp;Sierra Leone&#8217;s leader challenged Europeans on Thursday to remember there are &#8220;human beings on the other side&#8221; in Africa who have been left behind in the unequal global response to COVID-19.



By the start of February, only 11% of Africans were fully vaccinated against the coronavirus &#8211; far fewer than in richer parts of the world where vast and expensive inoculation campaigns have reached most of their populations.



&#8220;We feel left out,&#8221; President Julius Maada Bio told Reuters while attending the European Union-African Union summit.



<h3 class="wp-block-heading" id="read-more-twitter-sees-record-number-of-govt-demands-to-remove-content-japan-and-russia-lead-pack">Read more: <a href="https://www.cnbcafrica.com/2022/twitter-sees-record-number-of-govt-demands-to-remove-content-japan-and-russia-lead-pack/">Twitter sees record number of govt demands to remove content, Japan and Russia lead pack</a></h3>



&#8220;So at a meeting like this we really want to ask these critical questions. Are we equal partners in this? Do we consider there are human beings on the other side?&#8221;



Many developing countries have called for intellectual property rights for COVID vaccines and treatments to be waived, but face opposition from rich nations, including many in the EU.



Bio said the pandemic was making it harder for already debt-laden African governments to provide for their people&#8217;s social needs and was also undermining security.



<h2 class="wp-block-heading" id="h-security-implications">&#8216;SECURITY IMPLICATIONS&#8217;</h2>



&#8220;It undermines African governments, it makes us look as if we don&#8217;t care for our people and this has security implications,&#8221; he said.



Sierra Leone&#8217;s West and Central African neighbours have seen a series of military coups in recent times.



Bio said there was no uniform cause for that, but he hoped the two-day gathering would address climate change, human rights and migration, as well as the dominant topic of the pandemic.



<h3 class="wp-block-heading" id="read-more-omicron-poses-very-high-global-risk-world-must-prepare-who">Read more: <a href="https://www.cnbcafrica.com/2021/omicron-poses-very-high-global-risk-world-must-prepare-who/">Omicron poses “very high” global risk, world must prepare -WHO</a></h3>



Bio spoke after France and military allies announced they would leave Mali after almost a decade based there fighting Islamist insurgents.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2US2QG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The Sierra Leone president said Mali should not be left as a haven for jihadists and launch-pad for attacks around the world.



The task was beyond the powers of countries in the region, he added. &#8220;We shouldn&#8217;t leave the security situation in the Sahara Desert in the hands of those few states. There should be a global effort, like was done in Afghanistan &#8230; in Syria.&#8221;



(Reporting by Philip BlenkinsopEditing by John Chalmers and Andrew Cawthorne)

5RJ4MICTXZOIXCRIPYRS2ZKQDI

African leader asks Europe of COVID response: ‘Are we equal?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/106868516-1618439730880-mod.jpg" alt="" class="wp-image-412157" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/106868516-1618439730880-mod.jpg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/106868516-1618439730880-mod-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/106868516-1618439730880-mod-160x90.jpg 160w" sizes="(max-width: 740px) 100vw, 740px" /><figcaption>A healthcare worker fills a syringe with Moderna COVID-19 vaccine at the Giorgio Companies site in Blandon, PA where the CATE Mobile Vaccination Unit was onsite to administer Moderna COVID-19 Vaccines to workers Wednesday morning April 14, 2021.
Ben Hasty | MediaNews Group | Reading Eagle via Getty Images</figcaption></figure>



CAPE TOWN/CHICAGO, Feb 17 (Reuters) &#8211; Moderna Inc has applied for patents in South Africa relating to its COVID-19 vaccine, prompting fears the company could eventually seek to prevent a new African vaccine manufacturing hub from making its own version of the mRNA shot.



Moderna spokesperson Colleen Hussey confirmed it had filed for patents &#8220;related to both the COVID-19 vaccine and Moderna&#8217;s platform technology&#8221; in South Africa and elsewhere, after a group of 60 Africa-based charities raised concerns about them, but said the move would not block vaccine distribution in Africa.



She reiterated Moderna&#8217;s October 2020 pledge not to enforce its COVID-19 related patents during the coronavirus pandemic.



But South Africa&#8217;s Afrigen Biologics, which used the publicly available sequence of Moderna&#8217;s vaccine to make its own version of the vaccine, said it had received no communication from the company about the patent filings.



It plans to start making and distributing across Africa in November.



Responding to a query if the company would enforce patents in Africa at the end of the pandemic, Chief Executive Stéphane Bancel told Reuters, &#8220;We have not decided yet for low- and middle-income countries.&#8221;



The charities fear it will enforce them when COVID-19 is declared endemic, Tian Johnson, founder of the African Alliance, said in a joint statement.



<h3 class="wp-block-heading" id="h-read-more-african-union-to-buy-up-to-110-million-moderna-covid-19-vaccines-officials">Read more: <a href="https://www.cnbcafrica.com/2021/african-union-to-buy-up-to-110-million-moderna-covid-19-vaccines-officials/">African Union to buy up to 110 million Moderna COVID-19 vaccines -officials</a></h3>



This &#8220;would effectively derail all work the World Health Organization and African scientists have put into building vaccine manufacturing capacity on the continent,&#8221; he added.



The Africa vaccine hub has WHO backing, as part of a pilot project to give poor and middle-income countries the know-how to make COVID-19 vaccines.



&#8220;Moderna is committed to &#8230; equitable access to vaccines and can confirm that its intellectual property will not create a barrier to COVID vaccine distribution in AMC-92 countries by Afrigen Biologics either now or in the future,&#8221; Hussey said.



But Afrigen Chief Executive Petro Terblanche told Reuters in a text message, &#8220;We have had no communication from Moderna &#8230; We (would) &#8230; truly value their collaboration.&#8221;



&#8220;There are patents filed in South Africa and other low-and-middle income countries by Moderna that, unless those are revoked, or voluntary licenses are awarded or Moderna will waive it, it will impact on our freedom to operate,&#8221; she added.



On Wednesday, BioNTech&#8217;s co-founder and top executive told Reuters the vaccine maker had no plans to enforce its intellectual property rights should groups in Africa seek to make unauthorised versions of its shot.



For much of the pandemic, wealthy countries monopolised most of the global supplies of vaccines, leaving Africa massively under-vaccinated, with just one in ten Africans immunised.



Poor domestic manufacturing capacity forces Africa to import 99% of its vaccine needs. 



(Additional reporting by Francesco Guarascio in Brussels; Writing by Tim Cocks; Editing by Clarence Fernandez)

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Moderna patent application raises fears for Africa COVID vaccine hub

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/LRXBGCQS3NOURH6SRUH42RQOGA-820x547.jpg" alt="" class="wp-image-415312" width="820" height="547" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/LRXBGCQS3NOURH6SRUH42RQOGA-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/LRXBGCQS3NOURH6SRUH42RQOGA-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/LRXBGCQS3NOURH6SRUH42RQOGA-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/LRXBGCQS3NOURH6SRUH42RQOGA-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/LRXBGCQS3NOURH6SRUH42RQOGA.jpg 1200w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Indonesia’s Minister of Finance Sri Mulyani and Indonesia’s Central Bank Governor Perry Warjiyo lead the opening ceremony of the G20 finance ministers and central bank governors meeting in Jakarta, Indonesia, February 17, 2022. Mast Irham/Pool via REUTERS</figcaption></figure>



JOHANNESBURG/LONDON, Feb 17 (Reuters)&nbsp;&#8211;&nbsp;Wealthy nations must improve their floundering flagship debt relief initiative or face a spate of debt crises in the developing world, experts and campaigners say as finance chiefs of G20 major economies prepare for meetings later this week.



As the pandemic battered global economies, the Group of 20 leading economies launched measures, including a temporary debt service suspension for poor countries to provide breathing room, as well as the Common Framework &#8211; a debt restructuring scheme for long-term relief.



The Debt Service Suspension Initiative (DSSI) has now expired. Meanwhile, having signed up for the Common Framework a year ago, Zambia, Ethiopia and Chad have yet to receive relief.



Their uncertain fate, coupled with the fear of being punished by the market, have led other governments to steer clear of the Common Framework.



&#8220;It doesn&#8217;t give them any incentives,&#8221; the Washington-based Center for Global Development&#8217;s Daouda Sembene, a former director at the International Monetary Fund (IMF), told Reuters.



&#8220;Unfortunately, it so far has done some harm and not necessarily good.&#8221;



Alarm bells are ringing for many. According to the&nbsp;IMF, some 60% of low-income countries &#8211; mostly in Africa &#8211; are either in debt distress or at high risk of it, up from less than 30% in 2015.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2U51LA&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



This year, 74 low-income nations must repay $35 billion to bilateral and private lenders &#8211; nearly double from 2020, the World Bank calculated. With the U.S. Federal Reserve on the verge of hiking interest rates, borrowing costs are set to increase for riskier emerging markets.



U.S. Treasury Secretary Janet Yellen has called for action on relief for poorer nations and will urge her G20 counterparts to work towards shoring up developing countries.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2UQ2YD&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



World Bank President David Malpass said last month the slow pace of relief is increasing the risk of sovereign defaults.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2TR18V&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Hung Tran, a former IMF deputy director now with the Atlantic Council think tank, wrote this week that G20 initiatives to deal with debt had &#8220;<a href="https://www.atlanticcouncil.org/blogs/new-atlanticist/the-g20s-unfinished-business-dont-let-debt-do-us-part" target="_blank" rel="noreferrer noopener">largely failed</a>&#8220;.



&#8220;Unless these efforts are strengthened, sovereign debt crises will prevent vulnerable countries from fully bouncing back after the pandemic.&#8221;



<h3 class="wp-block-heading" id="h-revised-relief-plan">REVISED RELIEF PLAN</h3>



Officials in Indonesia, which holds this year&#8217;s G20 presidency, say debt relief is one issue on the agenda when finance ministers meet on Thursday and Friday.



IMF chief Kristalina Georgieva wants the Common Framework beefed up with timelines to speed up decision-making and clear comparability of treatment enforcement, providing creditors comfort that the process is fair.



She also wants debt service standstills during restructuring negotiations and an expansion of the framework&#8217;s remit as many countries holding the bulk of at-risk debt are not poor enough to currently qualify for relief.



Others are pushing for deeper revisions.



The Atlantic Council&#8217;s Tran believes debt service standstill should prevent ratings agencies from downgrading countries seeking relief.



Tim Jones of the UK-based Jubilee Debt Campaign says a plan is needed to deal with private creditors and bondholders,&nbsp;who refused to participate in the now expired DSSI initiative.



&#8220;You need to make clear the alternative is them not being paid anything,&#8221; he said



What action, if any, the G20 delivers this week remains to be seen. Finance ministers might be absorbed by issues closer to home &#8211; geopolitical tensions, rising global inflation and tighter monetary policy.



&#8220;So what happens in 30 low-income countries, even though it&#8217;s 30 countries, is something that could be happening on another planet,&#8221; World Bank Chief Economist Carmen Reinhart told Reuters.



Even a functioning Common Framework will solve only half the problem, experts say. Countries must get help&nbsp;in&nbsp;growing economies, not just traditional austerity measures.



&#8220;It is not solving a growth problem, and you cannot solve a debt problem by killing growth,&#8221; said Vera Songwe, the executive secretary of the U.N. Economic Commission for Africa.



(Reporting by Joe Bavier and Rachel SavageAdditional reporting by Andrea Shalal in Washington D.C., Gayatri Suroyo in Jakarta, Loucoumane Coulibaly in Abidjan, Diadie Ba and Ngouda Dione in DakarEditing by Karin Strohecker and Mark Heinrich)

LRXBGCQS3NOURH6SRUH42RQOGA

G20 must push relief to avoid debt crises – experts, campaigners

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="485" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/WB5PNLPUDFLUPEKLG6FHZNKBXE.jpg" alt="" class="wp-image-415258" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/WB5PNLPUDFLUPEKLG6FHZNKBXE.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/WB5PNLPUDFLUPEKLG6FHZNKBXE-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/WB5PNLPUDFLUPEKLG6FHZNKBXE-135x90.jpg 135w" sizes="(max-width: 728px) 100vw, 728px" /><figcaption>FILE PHOTO: French soldiers from the new Takuba force are pictured during a briefing at their headquarter in Gao, Mali August 20, 2021. Picture taken August 20, 2021. REUTERS/Paul Lorgerie/File Photo</figcaption></figure>



PARIS, Feb 14 (Reuters) &#8211; The conditions are no longer in place to continue the fight against Islamist militants in Mali and President Emmanuel Macron has asked to re-organise French troops in the region, Foreign Minister Jean-Yves Le Drian said on Monday.



&#8220;If the conditions are no longer in place so that we can act in Mali, which is clearly the case, then we will continue to fight terrorism next door with the Sahel countries, who &#8221; Le Drian told France 5.



France is considering withdrawing its troops from Mali, but adapting its strategy to prevent Islamist militancy spreading south may prove complex and contribute to uncertainty in the region.



A French drawdown would mean the European special forces Takuba task force would also leave with diplomats saying that the political, operational and legal conditions to remain becoming increasingly difficult.



Western foreign ministers and senior diplomats held crunch talks on their countries&#8217; future presence fighting Islamist militants in Mali on Monday after three weeks of consultations amid deterioration in relations between Mali and France, the main foreign military power in the Sahel region.



Two European and one African diplomatic source said regional and international leaders would meet Wednesday for dinner in Paris to hold discussions with President Macron ahead of an EU-Africa summit on Thursday. The French presidency did not respond to requests for comment.



&#8220;The president wants us re-organise. We aren&#8217;t going, but we will re-organise to ensure the fight against terrorism continues,&#8221; Le Drian said.



Three diplomatic sources said the announcement on a withdrawal from Mali would be made this week.



A draft document seen by Reuters, distributed to countries involved in Mali that has yet to be approved, says that France and its Takuba partners had agreed to coordinate withdrawal of their military resources from Malian territory.



It is not clear what will happen to troops that withdraw from Mali. France has already cut troops in the Sahel with the aim of reducing numbers from around 5,000 to 2,500-3,000 by 2023. <a href="https://www.reuters.com/world/africa/leaving-mali-would-not-be-easy-french-military-feels-heat-2022-02-10">About half of its forces are based in Mali, so Paris would need to decide where to put them and maintain operational efficiency.</a>



The Takuba mission has about 600-900 troops of which 40% are French and includes medical and logistical teams. It has been more of a symbolic force accompanying local troops.



Few diplomats believe it can survive a withdrawal from Mali, but Paris hopes to convince its allies to support countries in the Gulf of Guinea, notably Ivory Coast, Togo, Benin and Ghana, where there are concerns militancy is spreading due to porous borders. 



(Reporting by John Irish Editing by Chris Reese and Alistair Bell)

FILE PHOTO: French soldiers from the new Takuba force are pictured during a briefing at their headquarter in Gao

Conditions no longer in place to continue Mali fight, France says

Feb 14 (Reuters) &#8211; South African mining company Sibanye-Stillwater on Monday said it will meet unions this week over a looming strike at its gold operations in the country after some workers backed a walkout.



The Commission for Conciliation, Mediation and Arbitration (CCMA), which has been mediating between the two sides, cleared the unions to give strike notice a month ago after declaring a stalemate in wage talks.



A Sibanye spokesperson said a meeting with unions would take place this week, but did not specify a date.



South Africa&#8217;s major unions, the Association of Mineworkers and Construction Union (AMCU), National Union of Mineworkers (NUM), Solidarity and UASA have been negotiating as a united coalition for the first time.



<h3 class="wp-block-heading" id="h-read-more-sibanye-stillwater-ends-1-bln-brazil-mines-purchase-deal">Read more: <a href="https://www.cnbcafrica.com/2022/sibanye-stillwater-ends-1-bln-brazil-mines-purchase-deal/">Sibanye Stillwater ends $1 bln Brazil mines purchase deal</a></h3>



NUM spokesperson Livhuwani Mammburu told Reuters on Monday that a Sunday meeting of NUM, AMCU, and UASA workers had voted to reject Sibanye&#8217;s latest wage offer.



&#8220;They rejected it. The majority voted to embark on a strike,&#8221; Mammburu said.



He added that the coalition of unions would only serve Sibanye with a 48-hour strike notice after meeting the company&#8217;s management if the deadlock remains.



Sibanye&#8217;s final offer, tabled on Feb.4, would increase underground workers&#8217; wages by 800 rand a month ($52.76) in each of the three years under negotiation. Other categories, including artisans and officials, would get 5% increases over the same period.



Mammburu said the unions&#8217; demand of 1,000 rand a month ($65.95) increases for each of the three years remained unchanged. 



($1 = 15.1621 rand) 



(Reporting by Nelson Banya, editing by Jason Neely, Kirsten Donovan)

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Sibanye-Stillwater to meet unions as strike looms at South Africa gold mines

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-820x547.jpg" alt="" class="wp-image-378829" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13-600x400.jpg 600w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/black-coal-1542285036I13.jpg 1920w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



LAUNCESTON, Australia, Feb 14 (Reuters) &#8211; The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing the risks of longer-term pain.



The Newcastle index, as assessed by commodity price reporting agency Argus, climbed to $258.59 a tonne in the week to Feb. 11, up from $246.34 the prior week and close to the all-time high of $261.11 from the week to Jan. 28.



Indonesian coal prices have also recorded strong gains since the country&#8217;s government allowed most of its coal mines to resume exports after a ban in January, ostensibly to ensure sufficient domestic supplies.



The Argus index for lower-energy 4,200 kilocalorie per kilogram Indonesian coal jumped to $76.59 a tonne in the week to Feb. 11, up 32% from its 2022 low of $58.15 on Jan. 14, but still well short of the record $143.14 from October last year.



Australia, the world&#8217;s second-biggest shipper of thermal coal used for power generation behind Indonesia, is seeing strong demand for the polluting fuel from traditional customers in north Asia, such as Japan and South Korea.



It&#8217;s worth noting that the bulk of coal bought by these countries is sold under short- and medium-term contracts, and not at the weekly spot price.



This doesn&#8217;t mean Japanese and South Korean utilities aren&#8217;t paying high prices for their most of their supplies, but it is unlikely they are paying the current extremely high weekly index price.



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To put the current price in context, this time last year the Newcastle Index was at $87.43 a tonne, having recovered strongly from its pandemic-low in 2020 of $46.94.



However, between 2012 and the middle of last year, the price had never exceeded $120 a tonne and had spent much of those years between $50 and $90.



This was a period where even though Asia&#8217;s coal imports were experiencing strong growth, production was rising even faster as miners in Australia, Indonesia and Russia boosted output in the wake of the previous record high of just under $200 a tonne in 2008.



It was the boost to production that led to years of low prices, during which many miners struggled, before strong demand, especially from the world&#8217;s top importers China and India once again created coal shortages.



The key question is how will the industry respond this time to high prices?



As much as the miners themselves may want to bring on new production, the challenges in doing so are far more serious now than they were a decade ago.



<h2 class="wp-block-heading" id="h-supply-to-stay-constrained">SUPPLY TO STAY CONSTRAINED?</h2>



In Australia environmental activism has progressed from small groups chaining themselves to coal-export equipment to sophisticated groups using court challenges and pressuring banks and investors to move away from coal.



Coal miners are finding it harder to raise cash and insure projects, a trend likely to continue as climate change gains a bigger share of the public consciousness.



The Australian government&#8217;s commodity forecaster in a December report on investment intentions in resources said that the value of coal projects dropped 7% between 2020 and 2021, compared with a 25% jump in that for critical minerals and 36% for gold.



Indonesia&#8217;s coal export ban in January will also have rattled potential and current investors, with buyers also likely concerned about just how secure are their imports from the Southeast Asian nation in an era of rising resource nationalism.



Coal&#8217;s mantra for much of the past two decades in Asia has been that it is a fuel of choice because it&#8217;s cheap and reliable.



The current price surge, coupled with falling investment, undermines the cheap messaging, while the fickle nature of Indonesia&#8217;s current government does little to inspire confidence in the reliability argument.



<h3 class="wp-block-heading" id="read-more-work-set-to-start-on-botswana-coal-mine-in-2022-despite-pressure">Read more: <a href="https://www.cnbcafrica.com/2021/work-set-to-start-on-botswana-coal-mine-in-2022-despite-pressure/">Work set to start on Botswana coal mine in 2022 despite pressure</a></h3>



There is also the longer-term response to the current high prices from customers, both existing and potential.



While Japan and South Korea have little choice but to suck up the current high prices, given their energy needs over winter, the question remains as to whether they are likely to try and move away from coal faster.



While liquefied natural gas (LNG) is also expensive currently, largely due to Europe&#8217;s shortage of natural gas, the longer-term view for the super-chilled fuel is more encouraging than for coal.



This is implied because substantial investment and capacity additions are in the works for LNG, as top exporters Qatar, the United States and to a lesser extent Australia all expand production.



Then there is the lure of renewables backed by storage. Not only do these energies such as wind and solar not rely on imported fossil fuels, they offer countries pollution advantages and most likely export advantages assuming carbon border taxes become a reality.



The opinions expressed here are those of the author, a columnist for Reuters.



(Editing by Stephen Coates)

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Thermal coal’s record price run may end up its own worst enemy: Russell

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="536" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/OFNEFWEVLFL2XI5H5YOEN66GZM-820x536.jpg" alt="" class="wp-image-415223" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/OFNEFWEVLFL2XI5H5YOEN66GZM-820x536.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/OFNEFWEVLFL2XI5H5YOEN66GZM-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/OFNEFWEVLFL2XI5H5YOEN66GZM-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/OFNEFWEVLFL2XI5H5YOEN66GZM-768x502.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/OFNEFWEVLFL2XI5H5YOEN66GZM.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>The logo of the Chinese telecommunications giant Huawei Technologies is pictured next to a statue on top of a building in Copenhagen, Denmark, June 23, 2021. REUTERS/Wolfgang Rattay</figcaption></figure>



JOHANNESBURG, Feb 11 (Reuters) &#8211; South Africa&#8217;s labour department said it had filed court papers against telecom equipment group Huawei Technologies&#8217; local business over alleged employment rule breaches.



China&#8217;s Huawei employed approximately 90% foreign nationals against 40% as permitted by regulations, the South African department said in a statement on Friday.



The spokesperson for Huawei&#8217;s South Africa business said the company would respond soon.



<h3 class="wp-block-heading" id="h-read-more-south-africa-seeing-more-cases-of-omicron-sub-variant-monitoring-it">Read more: <a href="https://www.cnbcafrica.com/2022/south-africa-seeing-more-cases-of-omicron-sub-variant-monitoring-it/">South Africa seeing more cases of Omicron sub-variant, monitoring it</a></h3>



The labour department said that Huawei was granted a permit in accordance with the provisions of the Immigration Regulations that required the company to employ 60% South Africans and 40% foreign nationals, but it had been employing far above that number and had plans to further increase it.



&#8220;The Department has determined that its cause of action is clear and that all transgressions have been committed,&#8221; it said.



The move is the first time the South African government has made a legal challenge against the Chinese tech giant.



However, the labour department had previously cracked down on a smaller Chinese firm over charges of poor working conditions and human trafficking at its factory in Johannesburg. That case was still in court. 



(Reporting by Nqobile Dludla and Promit Mukherjee; Editing by Olivia Kumwenda-Mtambo and Alexander Smith)

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South Africa takes Huawei’s local unit to court over employment rule breaches

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-820x547.jpg" alt="" class="wp-image-414305" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo</figcaption></figure>



JOHANNESBURG, Feb 11 (Reuters) &#8211; South Africa&#8217;s economic recovery remains fragile and growth is expected to hold below 2% in the medium term because of policy uncertainty, high public debt and constraints to investment, the International Monetary Fund (IMF) said on Friday.



In a statement issued at the end of discussions with South Africa, the IMF said the country&#8217;s recovery from the COVID-19 pandemic had been faster than expected, but its durability remains uncertain.



Economic growth is projected at 1.9% in 2022 after an estimated 4.6% rebound in 2021, but it is seen easing to 1.4% in the medium term, the IMF said.



<h3 class="wp-block-heading" id="h-read-more-world-bank-slashes-global-growth-forecast-and-warns-about-growing-inequality">Read more: <a href="https://www.cnbcafrica.com/2022/world-bank-slashes-global-growth-forecast-and-warns-about-growing-inequality/">World Bank slashes global growth forecast and warns about growing inequality</a></h3>



&#8220;The economic recovery is deemed fragile, as it was accompanied by worsening unemployment, weak bank lending to the private sector and anaemic private investment. Despite the growth rebound, poverty and inequality did not show signs of improvement,&#8221; it said after a so-called Article IV consultation with South Africa.



IMF directors commended the government for a strong policy response to the pandemic, but outlined a variety of areas requiring improvement.



It said the looming budget on Feb. 23 provides an opportunity for concrete measures to contain public sector wages, rationalise bailouts of state companies, streamline tax expenditure and better target education subsidies. 



(Reporting by Alexander Winning Editing by David Goodman)

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South African economic recovery deemed fragile by IMF

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="530" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/R6LDDZ2JSFOGJF7EFKJVQOZ364-820x530.jpg" alt="" class="wp-image-415206" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/R6LDDZ2JSFOGJF7EFKJVQOZ364-820x530.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/R6LDDZ2JSFOGJF7EFKJVQOZ364-300x194.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/R6LDDZ2JSFOGJF7EFKJVQOZ364-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/R6LDDZ2JSFOGJF7EFKJVQOZ364-768x497.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/R6LDDZ2JSFOGJF7EFKJVQOZ364.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>A general view of the International Court of Justice (ICJ) in The Hague, Netherlands, December 9, 2019. REUTERS/Eva Plevier/File Photo</figcaption></figure>



KAMPALA, Feb 10 (Reuters) &#8211; Uganda said on Thursday it considered as &#8220;unfair and wrong&#8221; an International Court of Justice ruling asking it to pay $325 million in reparations to the Democratic Republic of Congo for its role in conflicts in Congo&#8217;s resource-rich Ituri province.



In Wednesday&#8217;s ruling, the court said Uganda must pay the sum in five yearly instalments of $65 million, starting in September this year.



The total award was far below the more than $11 billion Congo had sought. The court also dismissed several claims including broad compensation for macroeconomic damage, saying a clear link between Uganda&#8217;s actions and alleged economic damage had not been demonstrated.



&#8220;While the amount awarded is far less than that sought by the DRC, Uganda nevertheless considers the judgment unfair and wrong, just as the previous 2005 judgment on liability was unfair and wrong,&#8221; the foreign ministry said in a statement.



The long-running dispute was first brought before the United Nations&#8217; highest court in 1999. Rulings by the ICJ, which deals with disputes between states, are final and without appeal.



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The court ruled in 2005 that Uganda had violated international law by occupying parts of the eastern Congolese province of Ituri with its own troops and supporting other armed groups during a war that raged from 1998 to 2003.



Uganda had said its troops went into Ituri at Congo&#8217;s invitation. The court dismissed that argument in 2005 and said Uganda was an occupying power in the province.



The court ordered the two countries to negotiate reparations but in 2015 Congo returned to the tribunal, saying the talks had stalled.



In Thursday&#8217;s statement, the ministry said Uganda rejected any findings of wrongdoing against its army and that it regretted the ruling had come at a time when the two countries were mending their relations.



&#8220;Uganda continues to discuss the matter with the DRC government for purposes of securing a lasting and mutually acceptable solution,&#8221; it said, calling the judgment &#8220;an undue interference in this process and in African affairs generally&#8221;. 



(Reporting by Elias Biryabarema; Writing by George Obulutsa; Editing by Gareth Jones)

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Uganda says ICJ ruling awarding DR Congo reparations is unfair

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="536" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/RLMIHL2X2BNFJHXI3AKPGZ4KQA-820x536.jpg" alt="" class="wp-image-415202" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/RLMIHL2X2BNFJHXI3AKPGZ4KQA-820x536.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/RLMIHL2X2BNFJHXI3AKPGZ4KQA-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/RLMIHL2X2BNFJHXI3AKPGZ4KQA-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/RLMIHL2X2BNFJHXI3AKPGZ4KQA-768x502.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/RLMIHL2X2BNFJHXI3AKPGZ4KQA-1536x1004.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/RLMIHL2X2BNFJHXI3AKPGZ4KQA-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: Kenya Central Bank Governor Patrick Njoroge in Nairobi, Kenya July 25, 2019. REUTERS/Stringer/File Photo</figcaption></figure>



NAIROBI, Feb 10 (Reuters) &#8211; Kenya&#8217;s central bank has invited the public for views on the potential introduction of a digital currency, in a shift from its original opposition to crypto assets.



The East African country pioneered mobile money payments with Safaricom&#8217;s M-Pesa in 2007, but its central bank has not issued a digital currency due to concerns about the risks.



The risks included commercial banks being constrained by movement of deposits into the digital currency and financial exclusion of those without access to technological infrastructure or knowledge, the bank said on Thursday.



A digital currency could curb the effectiveness of monetary policy and increase risks of money laundering, the bank said.



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But the bank also said a digital currency could offer some benefits especially in reducing cross-border payments costs.



&#8220;The balance of risks and benefits of central bank digital currency will vary from one economy to another,&#8221; the bank said in a statement.



For the digital currency to work, the bank said, all countries in the region needed to participate in order to flatten &#8220;the multi-layered correspondent banking structure&#8221; and shorten the payment chains.



<a href="https://www.reuters.com/technology/tanzania-cbank-says-it-is-working-presidents-cryptocurrency-push-2021-06-25">Tanzanian government officials</a> said last year they were working on a directive from the president to prepare for the introduction of digital currencies.



The central bank and other public bodies in Kenya are required to seek views from the public before taking major decisions.



(Reporting by George Obulutsa and Duncan Miriri. Editing by Jane Merriman)

FILE PHOTO: Kenya Central Bank Governor Patrick Njoroge addresses a news conference at the Central Bank of Kenya headquarters in Nairobi

Kenya’s central bank tests public opinion about digital currencies

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="558" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/JXG4GTGRDVPCPCUFH7ER4YXVWE-820x558.jpg" alt="" class="wp-image-415199" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/JXG4GTGRDVPCPCUFH7ER4YXVWE-820x558.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/JXG4GTGRDVPCPCUFH7ER4YXVWE-300x204.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/JXG4GTGRDVPCPCUFH7ER4YXVWE-132x90.jpg 132w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/JXG4GTGRDVPCPCUFH7ER4YXVWE-768x522.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/JXG4GTGRDVPCPCUFH7ER4YXVWE.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>A medical staff member demonstrates how to activate a respirator as the hospital prepares for the coronavirus disease (COVID-19) outbreak, at the Karen hospital near Nairobi, Kenya, April 6, 2020. REUTERS/Baz Ratner</figcaption></figure>



JOHANNESBURG, Feb 10 (Reuters) &#8211; Africa&#8217;s response to the COVID-19 pandemic has improved over time but the continent needs to accelerate the pace of vaccination to control the pandemic, the head of the World Health Organization&#8217;s Africa division said on Thursday.



&#8220;We are finally able to say that if the current trends hold, there is light at the end of the tunnel. As long as we remain vigilant and we act intensively particularly on vaccination, the continent is on track for controlling the pandemic,&#8221; said Dr Matshidiso Moeti, WHO regional director for Africa.



She said the response had become more effective with each new wave of the virus, noting that the first wave had lasted 29 weeks while the fourth was over in six weeks.



However, Moeti said 85% of Africans had yet to receive a single dose of vaccine, and uptake needed to be significantly accelerated.



&#8220;A steady supply of doses is now reaching our shores, so the focus needs to be on translating those into actual shots in people&#8217;s arms,&#8221; she said.



This is a developing story&#8230;



(Reporting by Alexander Winning and James Macharia Chege; Writing by Estelle Shirbon; Editing by Catherine Evans)

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Africa’s COVID response improving, vaccinations lag, says WHO

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/DFQYJVLPSVKGNFPCTU3U4SY33A-820x547.jpg" alt="" class="wp-image-415195" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/DFQYJVLPSVKGNFPCTU3U4SY33A-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/DFQYJVLPSVKGNFPCTU3U4SY33A-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/DFQYJVLPSVKGNFPCTU3U4SY33A-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/DFQYJVLPSVKGNFPCTU3U4SY33A-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/DFQYJVLPSVKGNFPCTU3U4SY33A.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Aminata Laye Diagne, a nurse gives a dose of coronavirus disease (COVID-19) vaccine to a woman at Philippe Senghor Hospital in Dakar, amid a surge of coronavirus disease (COVID-19) cases in Senegal July 28, 2021. REUTERS/Zohra Bensemra</figcaption></figure>



LYON/DAKAR, Feb 9 (Reuters) &#8211; Top European Union officials said on Wednesday low absorption of COVID-19 vaccines in African countries had become the main problem in the global vaccine rollout following a recent increase in supplies of jabs.



African nations have begun their vaccine campaigns much later than wealthier states which secured the initially limited doses starting in late 2020.



But in recent months supplies have increased exponentially, and many states have trouble absorbing them, with some, such as Congo and Burundi, having used less than 20% of available doses, according to figures from Gavi, a nonprofit global vaccine alliance.



&#8220;The problem seems no longer to be the level of donations,&#8221; France&#8217;s Foreign Minister Jean-Yves Le Drian told a news conference in Lyon.



&#8220;The problem is absorption,&#8221; he added at the end of a meeting of EU health and foreign ministers, which he chaired as France holds the rotating presidency of the EU.



EU diplomats said that vaccines&#8217; short shelf life, limited storage facilities, poor healthcare infrastructure and vaccine hesitancy were among the main reasons that hampered vaccination in Africa.



Separately, European Commission President Ursula von der Leyen said the EU would increase spending to boost vaccinations in African states that were lagging behind.



&#8220;We have to make efforts to accelerate vaccinations, especially in African countries where vaccination rates are the lowest,&#8221; she said at a conference in Dakar, Senegal.



<h3 class="wp-block-heading" id="h-read-more-covid-shots-are-finally-arriving-but-africa-can-t-get-them-all-into-arms">Read more: <a href="https://www.cnbcafrica.com/2021/covid-shots-are-finally-arriving-but-africa-cant-get-them-all-into-arms/">COVID shots are finally arriving, but Africa can’t get them all into arms</a></h3>



She added the EU would spend 125 million euros ($143 million) to help countries train medical staff and administer doses, in addition to 300 million euros already committed for this purpose by the EU and its states.



An EU official said the EU wanted to shift its message to Africa &#8220;from vaccines to vaccination.&#8221;



However, von der Leyen said the EU would keep sending doses to Africa, with the aim of delivering 450 million vaccines by the summer, three times higher than the volume already shared.



Vaccine absorption will be a key issue at a summit of EU and African Union leaders next week in Brussels, Le Drian said.



Gavi, which co-runs the world&#8217;s largest COVID-19 vaccine-sharing programme COVAX, said the usage rate of COVID-19 shots in the 91 poorest nations it supports was 67%.



But some African countries were lagging much behind. Zambia, Chad, Madagascar, Djibouti, Somalia, Burkina Faso and Uganda had used only about one-third of doses that they received, Gavi said, citing data updated to late January.



Only about 10% of Africans have been immunised against COVID-19 so far. 



($1 = 0.8741 euros) 



(Reporting by Francesco Guarascio @fraguarascio and Edward McAllister; Editing by Richard Chang)

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EU pushes for COVID vaccinations in Africa as supply ‘no longer’ a problem

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-484332922-820x547.jpeg" alt="" class="wp-image-397368" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-484332922-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-484332922-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-484332922-768x513.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-484332922-1536x1025.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-484332922-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Customers browse food products on display inside a Shoprite Holdings Ltd. supermarket in Alexandra district of Johannesburg, South Africa, on Monday, Aug. 17, 2015. Shoprite, which operates in 14 African countries outside of its home market, said Feb. 24 that 14 store openings were planned on the continent beyond South Africa in its second half through June. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Feb 9 (Reuters) &#8211; South African business confidence rose in January on increased trade and retail sales, data showed on Wednesday.



The South African Chamber of Commerce and Industry&#8217;s (SACCI) monthly business confidence index (BCI) increased to 94.1 in January from 92.0 in December.



&#8220;This is a reasonable start to 2022,&#8221; SACCI said in a statement, adding that a recovery in vehicle sales and higher share prices on the Johannesburg Stock Exchange had also supported confidence over the past year.



Factors weighing on confidence in January included rising inflation and higher debt-service costs linked to rising interest rates, SACCI said. 



This is a developing story&#8230;



(Reporting by Alexander Winning Editing by Olivia Kumwenda-Mtambo)

Inside A Shoprite Holdings Ltd. Supermarket

South African business confidence stronger in January

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-820x547.jpg" alt="" class="wp-image-414305" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo</figcaption></figure>



LAGOS, Feb 7 (Reuters) &#8211; Nigeria should remove untargeted fuel subsidies and channel resources to the poor, the International Monetary Fund said on Monday, warning that the budget deficit was expected to widen in 2021 despite a recovery in international crude prices.



With an election set for next year, Nigeria&#8217;s government last month rowed back on a promise to end costly subsidies of petrol by the end of June, a decision that has in the past led to violent protests.



The IMF said despite a recovery in oil prices, the fiscal deficit was expected to widen to 5.9% of gross domestic product in 2021, partly due to the subsidy on petrol. That compares with 5.7% in 2020.



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&#8220;Directors also urged the removal of untargeted fuel subsidies, with compensatory measures for the poor and transparent use of saved resources,&#8221; the IMF said.



Nigeria&#8217;s economy was projected to grow by 3% this year, above initial IMF forecasts of 2.6% in November.



The IMF said Africa&#8217;s largest economy should increase its value-added tax, which at 7.5% remains one of the lowest in the world, and improve tax compliance to improve revenue collection.



Nigeria should also move towards a unified market exchange rate, it said, adding that this should be accompanied by policies to contain double-digit inflation and structural reforms to improve transparency. 



(Reporting by MacDonald Dzirutwe; Editing by Alison Williams)

IMF urges Nigeria to scrap fuel subsidies, target poor with support

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="502" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/DEGLWGL3WNLJ3A54Z6STIMXCG4-820x502.jpg" alt="" class="wp-image-404188" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/DEGLWGL3WNLJ3A54Z6STIMXCG4-820x502.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/DEGLWGL3WNLJ3A54Z6STIMXCG4-300x184.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/DEGLWGL3WNLJ3A54Z6STIMXCG4-768x471.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/DEGLWGL3WNLJ3A54Z6STIMXCG4-1536x941.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/DEGLWGL3WNLJ3A54Z6STIMXCG4-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>A Moody&#8217;s sign is displayed on 7 World Trade Center, the company&#8217;s corporate headquarters in New York, February 6, 2013. REUTERS/Brendan McDermid/File Photo</figcaption></figure>



ACCRA, Feb 7 (Reuters) &#8211; Ghana&#8217;s finance ministry said that Moody&#8217;s decision to downgrade its credit rating was made by omitting key information and revealed an institutional bias against African economies.



Rating agency Moody&#8217;s downgraded Ghana from B3 to CAA1 on Friday, citing the &#8220;increasingly difficult task government faces in addressing the intertwined liquidity and debt challenges.&#8221;



Ghana&#8217;s second downgrade in three weeks, after Fitch Ratings adjusted Ghana from B to B- last month, citing concerns for its ability to issue bonds in 2022, sent its dollar bonds tumbling.



&#8220;We are gravely concerned about what appears to be an institutionalized bias against African economies in this aspect&#8230; with little regard for the adverse impact on the cost and access of financing for African Sovereigns,&#8221; Ghana&#8217;s finance ministry said in a statement dated Sunday and posted on its website on Monday.



&#8220;We shall actively continue to support the global outcry against this leviathan,&#8221; it added.



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The finance ministry said that Moody&#8217;s had failed to consider key information in its assessment, which it said was made without giving a new primary credit analyst adequate time to understand Ghana&#8217;s economy.



Ghana formally appealed the new rating, but Moody&#8217;s rejected it and went ahead with the downgrade, the statement said. It was not immediately clear whether Accra would file another appeal.



Moody&#8217;s did not immediately respond to a request for comment.



Economists fear the West African nation could be spiralling toward a debt crisis, as it struggles with a double-digit fiscal deficit and rising inflation.



In hopes of rallying investors and stabilizing bond yields, Ghana last month said it would cap expenditure at 80% of what was approved for the 2022 budget until the deficit outlook improves.



(Reporting by Christian Akorlie and Cooper Inveen; Additional reporting by Karin Strohecker; Editing by Tomasz Janowski)

A Moody’s sign is displayed on 7 World Trade Center, the company’s corporate headquarters in New York

After Moody’s cut, Ghana finance ministry says ratings agencies biased against Africa

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="545" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/6252695003_2f22408e63_o-820x545.jpg" alt="" class="wp-image-415153" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/6252695003_2f22408e63_o-820x545.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/6252695003_2f22408e63_o-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/6252695003_2f22408e63_o-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/6252695003_2f22408e63_o-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/6252695003_2f22408e63_o.jpg 1024w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Pelindaba Nuclear Power Plant, North West Photo: via Flickr</figcaption></figure>



CAPE TOWN, Feb 7 (Reuters) &#8211; South Africa&#8217;s state-owned nuclear energy firm, NECSA, on Monday launched a tender to replace its ageing nuclear research reactor, Safari 1, and help maintain its position as one of the world&#8217;s top producers of Molybdenum-99 used in medical diagnostic imaging.



Molybdenum-99, or Mo-99, is used in millions of diagnostic tests for cancer, heart disease and other illnesses worldwide.



NTP Radioisotopes is a subsidiary of the South African Nuclear Energy Corporation (NECSA) and uses the 20 megawatt Safari 1 research reactor at Pelindaba, in operation since 1965, to produce Mo-99.



The plant had to be shutdown for three months at the beginning of 2018 after a hydrogen leak was detected.



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It is currently in care and maintenance, NECSA said, as it released a request for information (RFI) to the market on Monday, the first step in a tender process to help gauge appetite from a potential preferred supplier to construct a new multi-purpose reactor (MPR).



&#8220;The MPR will continue with the legacy of producing medical radioisotopes, which are used to treat thousands of patients diagnosed with cancer all over the world,&#8221; Loyiso Tyabashe, group chief executive at NECSA, said in a statement.



The NTP is a top four global supplier of medical radioisotopes to the United States, Japan and countries in Europe and the Middle East, NECSA said.



The request for information ends on March 10, the company added. 



(Reporting by Wendell Roelf; editing by Jason Neely)

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Reuters

EU launches reset with Africa after pandemic disruption

African leader asks Europe of COVID response: ‘Are we equal?

Moderna patent application raises fears for Africa COVID vaccine hub

G20 must push relief to avoid debt crises – experts, campaigners

Conditions no longer in place to continue Mali fight, France says

Sibanye-Stillwater to meet unions as strike looms at South Africa gold mines

Thermal coal’s record price run may end up its own worst enemy: Russell

South Africa takes Huawei’s local unit to court over employment rule breaches

South African economic recovery deemed fragile by IMF

Uganda says ICJ ruling awarding DR Congo reparations is unfair

Kenya’s central bank tests public opinion about digital currencies

Africa’s COVID response improving, vaccinations lag, says WHO

EU pushes for COVID vaccinations in Africa as supply ‘no longer’ a problem

South African business confidence stronger in January

IMF urges Nigeria to scrap fuel subsidies, target poor with support

After Moody’s cut, Ghana finance ministry says ratings agencies biased against Africa

South Africa begins search for new reactor to sustain Molybdenum-99 output

News Tips

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