<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/XXRFTEFP65IXHOOVNQYDKAK3A4-820x547.jpg" alt="" class="wp-image-417776" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/XXRFTEFP65IXHOOVNQYDKAK3A4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/XXRFTEFP65IXHOOVNQYDKAK3A4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/XXRFTEFP65IXHOOVNQYDKAK3A4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/XXRFTEFP65IXHOOVNQYDKAK3A4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/XXRFTEFP65IXHOOVNQYDKAK3A4.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Armed Forces of the Democratic Republic of the Congo (FARDC) soldiers take their position following renewed fighting near the Congolese border with Rwanda, outside Goma in the North Kivu province of the Democratic Republic of Congo May 28, 2022. REUTERS/Djaffar Sabiti/File Photo</figcaption></figure>



GOMA, Democratic Republic of Congo, June 12 (Reuters)&nbsp;&#8211;&nbsp;Regional authorities in eastern Democratic Republic of Congo said Rwandan soldiers and artillery had supported attacks by the M23 rebel group on Sunday, accusing Rwanda of seeking to occupy the Congolese border town of Bunagana.



The violence pushed over 25,000 people to flee the area, with thousands escaping to neighbouring Uganda, the United Nations humanitarian agency OCHA said.



Congo&#8217;s accusations&nbsp;are part of an escalating dispute between the neighbours that has revived old animosities. Rwanda denies backing the M23 offensive.



The office of the governor of North Kivu province said Congolese forces had repelled early-morning attacks by M23, backed by Rwandan forces, near Bunagana and elsewhere.



&#8220;The goal pursued by Rwanda is to occupy Bunagana in order not only to asphyxiate the city of Goma but also to put pressure on the Congolese government,&#8221; it said in a statement.



The Rwandan government could not immediately be reached for comment. It denies playing any role in M23&#8217;s recent attacks, but has echoed M23 charges that Congo is cooperating with the Democratic Forces for the Liberation of Rwanda (FDLR), an armed group run by ethnic Hutus who fled Rwanda after taking part in the 1994 genocide.



On Thursday, Congo accused Rwanda of sending 500 commandos in disguise into eastern Congo.



On Friday, the countries accused each other of firing rockets across their shared border. Congo&#8217;s army said one strike killed two Congolese children.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2XY05K&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



(Reporting by Fiston Mahamba and Erikas Mwisi Kambale;Additional reporting by Clement Uwiringiyimana in Kigali;Writing by Alessandra Prentice; Editing by Kevin Liffey and Diane Craft)

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Congo says Rwandan forces supported latest rebel attacks as thousands flee

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="560" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/CACHRUZPGJKAJOLH44U7ZXLQAM-820x560.jpg" alt="" class="wp-image-417772" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/CACHRUZPGJKAJOLH44U7ZXLQAM-820x560.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/CACHRUZPGJKAJOLH44U7ZXLQAM-300x205.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/CACHRUZPGJKAJOLH44U7ZXLQAM-132x90.jpg 132w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/CACHRUZPGJKAJOLH44U7ZXLQAM-768x525.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/CACHRUZPGJKAJOLH44U7ZXLQAM-1536x1050.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/CACHRUZPGJKAJOLH44U7ZXLQAM-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: Demonstrators protest outside of an airport perimeter fence against a planned deportation of asylum seekers from Britain to Rwanda, at Gatwick Airport near Crawley, Britain, June 12, 2022. REUTERS/Toby Melville</figcaption></figure>



LONDON, June 13 (Reuters)&nbsp;&#8211;&nbsp;London&#8217;s courts will hear two last-minute legal challenges on Monday to block the British government&#8217;s controversial policy to deport asylum seekers to Rwanda before the first removal flight scheduled to leave on Tuesday.



Britain has agreed a deal with Rwanda to send some asylum seekers to Rwanda in return for an initial payment of 120 million pounds ($148 million).



The deportation strategy is aimed at undermining people-smuggling networks, and stemming the flow of migrants risking their lives by crossing the English Channel in small boats from Europe.



At least 30 individuals are scheduled to be removed on the first flight to Rwanda. The government has not provided details of those selected for deportation, but charities say they include people fleeing Afghanistan and Syria.



Prime Minister Boris Johnson is determined to press ahead with the policy despite the legal challenges and the alleged opposition from Prince Charles, the heir to the British throne.



The Court of Appeal will hear arguments from two human rights groups and a trade union on Monday after a judge refused their request for an injunction blocking the flight taking off. The judge said last week there was a &#8220;material public interest&#8221; in allowing the government to pursue the policy.



<h3 class="wp-block-heading" id="h-read-more-rwanda-s-kagame-visits-uganda-s-museveni-as-relations-thaw">Read more: <a href="https://www.cnbcafrica.com/2022/rwandas-kagame-visits-ugandas-museveni-as-relations-thaw/">Rwanda’s Kagame visits Uganda’s Museveni as relations thaw</a></h3>



The High Court will separately hear arguments from Asylum Aid, a refugee charity, which launched a second legal challenge to stop the government flying refugees to Rwanda.



The charity said the government&#8217;s plan to give asylum seekers seven days to obtain legal advice and to present their case to avoid deportation is flawed and unfair.



This case will be heard by the same judge who on Friday rejected the first request for an injunction.



Over the weekend, Prince Charles was reported by The Times newspaper to have privately described the government&#8217;s policy as &#8220;appalling&#8221;.



A spokesperson for Charles did not deny he had expressed personal opinions about the policy, but stressed that he remains &#8220;politically neutral&#8221;.



Under Britain&#8217;s unwritten constitution, the royal family are expected to avoid making political comments.



($1 = 0.8121 pounds)



(Reporting by Andrew MacAskill; Editing by Chris Reese)

FILE PHOTO: Protest against planned deportation of asylum seekers from Britain to Rwanda, Crawley

UK courts to hear last-minute appeals to stop first Rwanda deportation flight leaving

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-813141090-820x546.jpg" alt="" class="wp-image-417734" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-813141090-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-813141090-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-813141090-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-813141090-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-813141090-1536x1022.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-813141090-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Cape Town International Airport South Africa a Boeing jet of the low cost airline Kulula fleet on the taxiway. (Photo by: Education Images/Universal Images Group via Getty Images)</figcaption></figure>



JOHANNESBURG, June 9 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s oldest private airline Comair will stop operations permanently after its bankruptcy protection lawyers on Thursday filed an application to liquidate the company which had failed to secure funding to stay airborne&nbsp;after being impacted severely by global pandemic-related travel restrictions.



The end of the company, whose&nbsp;neon green aircraft under the low-cost kulula.com carrier&nbsp;had dotted tarmacs across the country&#8217;s airports,&nbsp;comes after two years of interventions&nbsp;by bankruptcy protection lawyers, investors and employees&nbsp;to save the 75-year old airline.



The carrier, which also ran the British Airways franchise in South Africa, started operations in 1948 as a chartered service between Johannesburg and Durban, and later ferried Anglo American&#8217;s employees between gold mines. It entered commercial service in 1992.



&#8220;We did our utmost to secure the funding, but when we were unable to do so had no option to lodge the application,&#8221; Richard Ferguson, the company&#8217;s business rescue practitioner, a category of lawyer hired as administrators to save a company from liquidation, said in a statement.



<h3 class="wp-block-heading" id="h-read-more-south-africa-s-comair-suspends-flights-until-funding-secured">Read more: <a href="https://www.cnbcafrica.com/2022/south-africas-comair-suspends-flights-until-funding-secured/">South Africa’s Comair suspends flights until funding secured</a></h3>



&#8220;It is an extremely sad day for the company, its employees, its customers and South African aviation.&#8221;



Comair, along with the national carrier South African Airways, were the two hardest hit&nbsp;domestic&nbsp;airlines after the COVID-19 pandemic forced countries to seal international borders.



In November 2020, its former board members and executives agreed to pump in 500 million rand ($32.78 million) of equity as part of a rescue plan.



However, South Africa&#8217;s &#8216;red listing&#8217; by foreign nations due to the Omicron variant of the coronavirus, the suspension of its flights in March due to safety reasons and rising crude prices meant a more immediate infusion of funds to keep it flying, its administrator said.



Comair&#8217;s employees and customers who held bookings or were owed refunds will now become creditors of the company, its administrator said.



($1 = 15.2538 rand)



(Reporting by Promit MukherjeeEditing by Bernadette Baum)

Cape Town International Airport South Africa, Boeing jet of the low cost airline on the taxiway

South Africa’s oldest private airline in liquidation after it fails to get funds

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Y3EXYRV3LRLWFP7EWD3MOXKL3Q-820x547.jpg" alt="" class="wp-image-417730" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Y3EXYRV3LRLWFP7EWD3MOXKL3Q-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Y3EXYRV3LRLWFP7EWD3MOXKL3Q-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Y3EXYRV3LRLWFP7EWD3MOXKL3Q-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Y3EXYRV3LRLWFP7EWD3MOXKL3Q-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Y3EXYRV3LRLWFP7EWD3MOXKL3Q.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Logs of wood float on the Lagos lagoon near the Makoko riverine slum, in Lagos, Nigeria February 27, 2022. Picture taken February 27, 2022. REUTERS/Temilade Adelaja</figcaption></figure>



JOHANNESBURG, June 9 (Reuters)&nbsp;&#8211;&nbsp;The world&#8217;s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits.



With Western markets overcrowded, the continent provides a rare chance to grow.



In the United States, insurance premiums, including life, and general insurance, make up the equivalent of 12% of economic output or gross domestic product, according to Swiss Re. That is roughly four times the level across Africa, based on African Insurance Organisation estimates for 2019.



However, the region faces some of the fastest warming globally.



Temperatures in southern Africa rose at twice the global rate on average in the five years leading up to 2019, according to a report by the Intergovernmental Panel on Climate Change.



Yet insurers are undeterred, with some looking to expand even in vulnerable territories.



Global reinsurer Swiss Re&nbsp;SRENH.S&nbsp;wants to push further into Nigeria, including the major city Lagos, where sea surges already threaten expensive real estate and poor slums. It is in talks with regulators there to change the rules to allow foreign reinsurance firms to write more business.



Peer Scor&nbsp;SCOR.PA&nbsp;wants to build up in agriculture &#8211; a sector highly vulnerable to extreme weather.



Other major African banks and insurers including Standard Bank&nbsp;SBKJ.J, Absa&nbsp;ABGJ.J&nbsp;and Sanlam&nbsp;SLMJ.J&nbsp;have also put expanding into African markets at the core of their strategies.



This will expose their portfolios to ever more climate risk. The companies said there were multiple ways to mitigate this, including working with clients to reduce the risks they face.



<h2 class="wp-block-heading" id="h-peeling-an-onion">PEELING AN ONION</h2>



Low levels of banking and insurance uptake among the continent&#8217;s young, rapidly growing and increasingly wealthy population mean Africa is seen as among the most attractive, untapped financial services markets in the world.



Before COVID-19, Africa&#8217;s insurance market was expected to grow at compound annual growth rates of 7% per year between 2020 and 2025 &#8211; nearly twice as fast as predictions for North America, three times that of Europe and better than Asia&#8217;s predicted 7%, according to McKinsey.



Insurers are already counting the cost of climate change&nbsp;elsewhere.&nbsp;In wildfire hot spots such as California, they have pulled out of providing cover.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2RM0WB&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



But in Africa, the current low levels of penetration mean that massive economic losses from weather-related disasters do not yet reflect in credit and insurance portfolios.



For global reinsurers, building up on the continent is therefore a way to diversify their portfolio, and hedge the climate risks they face elsewhere, Scor and Swiss Re said.



&#8220;A flood in Lagos or drought in Kenya have no correlation with a tsunami in Japan,&#8221; said Swiss Re&#8217;s market executive for Africa and the Middle East, Beat Strebel. This means losses in one territory can be offset with premium income from another.



With the continent accounting for such a small part of its global business, the reinsurer had ample room to grow for decades, he said.



In Nigeria, for instance, where floods caused huge economic losses, property and casualty insurance penetration stands at just 0.3% of gross domestic product, he said.



Strebel pointed to the importance of innovative products such as parametric insurance, which Scor also said would be key.



Parametric products use a single data point to trigger payouts, avoiding costly visits by loss adjusters.



Scor is running several pilot projects on the continent in agricultural parametric insurance which could see it enter new sub-Saharan African markets if successful.



Still,&nbsp;insurers can run into trouble.



The Kenya Livestock Insurance Programme (KLIP) is one of the most prominent parametric schemes, winning praise for paying out to tens of thousands of smallholder farmers when their livestock died from drought.



The government subsidised premiums to make it work. But Swiss Re, its main reinsurance backer, racked up years of losses on the programme when droughts were more severe than it anticipated.



In 2018, it told the Kenyan government it would have to rework the KLIP to make it more sustainable, by reducing how frequently it had to make the maximum overall payout, the scheme&#8217;s top official Richard Kyuma told Reuters.



Getting estimations of climate risk right is not easy, said McKinsey partner Antonio Grimaldi, especially when it comes to its second-order effects on people&#8217;s willingness to live and work in an affected area. African banks and insurers were first to accept it is something they are yet to fully grasp.



&#8220;Climate risk is like peeling an onion, but the layers never end,&#8221; said Wendy Dobson of Standard Bank. &#8220;Just when we think we understand it we realise we don&#8217;t.&#8221;



(Reporting by Emma Rumney; additional reporting by Carolyn Cohn in London and Duncan Miriri in Nairobi; editing by John O&#8217;Donnell and Emelia Sithole-Matarise)

Y3EXYRV3LRLWFP7EWD3MOXKL3Q

Warming Africa threatens insurers’ quest for profit

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/33O253OQHNJXVKGIRQYXFK4M2E-820x547.jpg" alt="" class="wp-image-417712" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/33O253OQHNJXVKGIRQYXFK4M2E-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/33O253OQHNJXVKGIRQYXFK4M2E-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/33O253OQHNJXVKGIRQYXFK4M2E-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/33O253OQHNJXVKGIRQYXFK4M2E-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/33O253OQHNJXVKGIRQYXFK4M2E.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>All Progressives Congress National Leader and Presidential aspirant Bola Tinubu speaks to the press during his visit to St. Francis Catholic Church, following an attack by gunmen on worshippers during a Sunday mass service, in Owo, Ondo, Nigeria June 6, 2022. REUTERS/Temilade Adelaja</figcaption></figure>



ABUJA, June 8 (Reuters)&nbsp;&#8211;&nbsp;Nigeria&#8217;s ruling party on Wednesday picked former Lagos State governor Bola Tinubu as its candidate to run for president in elections scheduled for February 2023.



President Muhammadu Buhari will step down next year after leading Africa&#8217;s most populous country and top oil exporter for the maximum eight years allowed by the constitution.



Unlike many outgoing African heads of state, Buhari had not named a successor, leaving the field wide open.



Tinubu, 70, defeated 13 other candidates&nbsp;in the All Progressives Congress (APC) primaries.&nbsp;He won 1,271 APC delegates&#8217; votes, compared with 316 for his nearest rival, another ex-governor. Buhari&#8217;s deputy, Vice President Yemi Osinbajo, came a surprisingly weak third with just 235 votes.



In his acceptance speech, Tinubu said if elected he would focus on reducing insecurity, a major concern in Nigeria. Other priorities would include boosting local industry and building a large port in the southeastern city of Calabar, he said.



&#8220;I am a thinker and I am a doer. We will create wealth. We will turn Nigeria around. It will be our Eldorado,&#8221; he said.



<h3 class="wp-block-heading" id="h-read-more-nigeria-s-buhari-has-no-preferred-successor-spokesman-says">Read more: <a href="https://www.cnbcafrica.com/2022/nigerias-buhari-has-no-preferred-successor-spokesman-says/">Nigeria’s Buhari has no preferred successor, spokesman says</a></h3>



The ruling party candidate would usually be considered the favourite in Nigeria, which has a long history of electoral fraud and violence. However, in 2015, Buhari was the opposition candidate when he won an election widely considered among the cleanest the country had seen.



Tinubu&#8217;s main opponent will be&nbsp;the People&#8217;s Democratic Party candidate Atiku&nbsp;Abubakar, who was vice president from 1999 to 2007 under former&nbsp;President Olusegun Obasanjo.



&#8220;If he wins, Tinubu&#8217;s presidency will be defined by tackling a lukewarm economy, widespread discontent with the political class, a worsening geopolitical environment in Nigeria&#8217;s near abroad and escalating security challenges,&#8221; said risk analyst Ikemesit Effiong.



&#8220;His programme of action to tackle these challenges remains unclear,&#8221; said Effiong, who is head of research at risk advisory firm SBM Intelligence.



A wily political operator, Tinubu built a strong support base during his eight years as governor of Lagos&nbsp;from 1999 to 2007. Since stepping down, he has remained highly influential, with many of his loyal proteges in powerful positions in government and business.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2XV3J2&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Supporters portray him as an effective administrator with a knack for picking&nbsp;competent technocrats&nbsp;to get jobs done.



Critics denounce him as a godfather figure who doles out lucrative contracts and plum jobs to his friends and is not above sending out street thugs to intimidate opponents if he fails to get his way. He rejects that description.



(Reporting by MacDonald Dzirutwe; Writing by Estelle Shirbon;Editing by James Macharia Chege, Alison Williams and Alex Richardson)

33O253OQHNJXVKGIRQYXFK4M2E

Nigeria ruling party picks ex-governor of Lagos Tinubu to run for president

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="517" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/GNZ4EKIZHBJMHAHGTKTLUHIQ54-820x517.jpg" alt="" class="wp-image-415106" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/02/GNZ4EKIZHBJMHAHGTKTLUHIQ54-820x517.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/GNZ4EKIZHBJMHAHGTKTLUHIQ54-300x189.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/GNZ4EKIZHBJMHAHGTKTLUHIQ54-143x90.jpg 143w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/GNZ4EKIZHBJMHAHGTKTLUHIQ54-768x484.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/02/GNZ4EKIZHBJMHAHGTKTLUHIQ54.jpg 1200w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File Photo</figcaption></figure>



DEAD SEA, Jordan June 8 (Reuters)&nbsp;&#8211;&nbsp;Efforts by OPEC+ oil producers to boost output are &#8220;not encouraging&#8221;, UAE energy minister Suhail al-Mazrouei said on Wednesday, noting the group was currently 2.6 million barrels per day short of its target.



&#8220;According to last month&#8217;s report, we have seen the conformity (to output cuts) of the OPEC+ group and the conformity was more than 200%,&#8221; Mazrouei told an energy conference in Jordan.



Conformity above 100% means a country is producing less than what it is supposed to be as OPEC+ looks to gradually remove its production curbs.



&#8220;The risk is when China is back,&#8221; Mazrouei said in an apparent reference to Chinese demand.



Prospects for demand growth in China, which is relaxing lockdowns, have been buoying crude prices recently.



This is a developing story&#8230;



(Reporting by Suleiman Al-Khalidi and Nadine Awadalla; writing by Maha El Dahan; editing by Toby Chopra and Jason Neely)

GNZ4EKIZHBJMHAHGTKTLUHIQ54

OPEC+ efforts to boost oil output ‘not encouraging’, UAE minister says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-820x547.jpg" alt="" class="wp-image-417697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>euThe seal for the International Monetary Fund is seen near the World Bank headquarters (R) in Washington, DC on January 10, 2022. (Photo by Stefani Reynolds / AFP) (Photo by STEFANI REYNOLDS/AFP via Getty Images)</figcaption></figure>



LONDON, June 7 (Reuters)&nbsp;&#8211;&nbsp;The IMF said on Tuesday governments fighting soaring food and fuel prices should target aid to vulnerable citizens rather than issue across-the-board aid that risked adding to strains on public finances.



Over half of 134 countries surveyed said they had introduced subsidies or tax cuts to soften the blow of soaring price rises triggered by the war in Ukraine, the International Monetary Fund said in a blog.



Russia&#8217;s invasion of Ukraine has led to sharp spikes in food and fuel prices, compounding global economic woes, especially for developing economies that have been struggling more than richer ones to recover from the COVID-19 pandemic.



&#8220;Policymakers should allow high global prices to pass through to the domestic economy while protecting vulnerable households affected by the increases,&#8221; the IMF blog said.



&#8220;That&#8217;s ultimately less costly than keeping prices artificially low for all irrespective of their ability to pay.&#8221;



<h3 class="wp-block-heading" id="h-read-more-imf-says-malawi-requests-four-year-credit-facility">Read more: <a href="https://www.cnbcafrica.com/2022/imf-says-malawi-requests-four-year-credit-facility/">IMF says Malawi requests four-year credit facility</a></h3>



The IMF often makes removing subsidies a condition of giving aid.



Pakistan on June 2 slashed fuel&nbsp;subsidiesfor the second time in a week&nbsp;to secure a bailout from the IMF. Tunisia said on Tuesday it would start cutting energy and food subsidies next year alongside financial transfers to poor families, as it seeks a $4 billion IMF loan.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2XP1PI&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a><a href="https://www.reutersconnect.com/all?search=all%3AL1N2XU0YO&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The IMF blog noted that governments had passed less of the rise in oil prices onto consumers in the first four months of this year than they had in 2021, adding that subsidies encouraged more energy consumption and thus fed the price rises.



Food security concerns may mean that some governments have no option but to introduce subsidies and even hand out basic staples, the blog said, but it advised that &#8220;clear sunset clauses&#8221; for their termination were needed.



(Reporting by Rachel Savage; Editing by Mark Heinrich)

US-ECONOMY-FINANCE-IMF-WORLD BANK

IMF urges countries to support vulnerable, avoid blanket subsidies as food, fuel prices soar

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/6Z3RCKRMPBLJ7M5KPAE3GT42JY-820x547.jpg" alt="" class="wp-image-417693" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/6Z3RCKRMPBLJ7M5KPAE3GT42JY-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/6Z3RCKRMPBLJ7M5KPAE3GT42JY-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/6Z3RCKRMPBLJ7M5KPAE3GT42JY-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/6Z3RCKRMPBLJ7M5KPAE3GT42JY-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/6Z3RCKRMPBLJ7M5KPAE3GT42JY-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/6Z3RCKRMPBLJ7M5KPAE3GT42JY-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: Atlanta Falcons defensive linemen Corey Peters (L) and Osi Umenyiora (R) talk on the sideline during the second half of their NFL pre-season football game against the Baltimore Ravens in Baltimore, Maryland, August 15, 2013. REUTERS/Jonathan Ernst</figcaption></figure>



June 7 (Reuters)&nbsp;&#8211;&nbsp;The National Football League (NFL) will hold its first official events in Africa later this month, as it works to build its international footprint.



The events will take place in Ghana and include a talent identification camp on June 21 and 22, with 40 players from across the continent expected to participate.



&#8220;This camp is not only giving opportunities to great African athletes, it is also highlighting the incredible African athletes already in the NFL,&#8221; said twice Super Bowl champion Osi Umenyiora, who will lead the program.



&#8220;The positive impact of this cannot be overstated.&#8221;



In December, the NFL awarded 18 franchises marketing rights to 26 international regions, as it looks to build fan bases abroad.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2T02NX&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The Philadelphia Eagles, who were paired with Ghana as an &#8220;International Home Marketing Area&#8221;, will feature in events including an NFL Fan Zone on June 26.



(Reporting by Amy Tennery in New YorkEditing by Toby Davis)

Falcons’ Peters and Umenyiora talk on the sideline during the second half of their NFL pre-season football game against the Ravens in Baltimore

NFL-League to hold first official events in Africa, including talent camp

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/GettyImages-1238701244-820x547.jpg" alt="" class="wp-image-416215" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/GettyImages-1238701244-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/GettyImages-1238701244-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/GettyImages-1238701244-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/GettyImages-1238701244-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/GettyImages-1238701244-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/GettyImages-1238701244-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Enoch Godongwana, South Africa&#8217;s finance minister, speaks during a news conference ahead of the budget presentation in Cape Town, South Africa, on Wednesday, Feb. 23, 2022. South Africas rand edged higher against the dollar ahead of the presentation of the nations budget. Photographer: Dwayne Senior/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, June 8 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s Finance Minister, Enoch Godongwana, on Wednesday named experienced National Treasury official Ismail Momoniat as the body&#8217;s acting director-general, after the previous head chose not to extend his contract.



The finance ministry said in April that Dondo Mogajane would leave the post of director-general in June &#8220;to pursue new opportunities outside of the public sector&#8221; after 23 years with the Treasury.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2W50OV&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Momoniat has worked at the Treasury for 27 years, 22 of them as deputy director-general. Recently his focus has been on tax and financial sector policy.



&#8220;I am confident that Mr Momoniat will keep a steady hand on the till of the organisation, steering the department to meet our strategic agenda while ensuring continuity,&#8221; Godongwana said in a statement.



This is a developing story&#8230;



(Reporting by Alexander Winning)

South Africa’s Finance Minister Enoch Godongwana Presents Budget

South Africa’s finance minister names acting Treasury head

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="756" height="426" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/ecowas-3.jpg" alt="" class="wp-image-417686" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/ecowas-3.jpg 756w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/ecowas-3-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/ecowas-3-160x90.jpg 160w" sizes="(max-width: 756px) 100vw, 756px" /><figcaption>Economic Community of West African States (ECOWAS) flag is pictured during an extraordinary summit of ECOWAS to hear reports from recent missions to Mali, Burkina Faso and Guinea following military coups in those countries, in Accra, Ghana March 25, 2022. REUTERS/Francis Kokoroko</figcaption></figure>



BAMAKO, June 7 (Reuters)&nbsp;&#8211;&nbsp;The West African regional bloc ECOWAS said on Tuesday that it regretted a decision by Mali&#8217;s interim government to extend the transition back to civilian rule by 24 months while negotiations between the two sides were ongoing.



Mali&#8217;s ruling junta, which first came to power in an August 2020 coup, issued a decree on Monday fixing the 24-month timetable, to be counted from March 2022.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2XT2D5&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The 15-member Economic Community of West African States has been pushing for a shorter extension of at most 16 months. ECOWAS imposed stiff sanctions in January after the junta said it would not organise democratic elections the following month as initially planned.



<h3 class="wp-block-heading" id="h-read-more-mali-junta-adopts-24-month-transition-to-democratic-rule-from-march">Read more: <a href="https://www.cnbcafrica.com/2022/mali-junta-adopts-24-month-transition-to-democratic-rule-from-march/">Mali junta adopts 24-month transition to democratic rule from March</a></h3>



&#8220;ECOWAS regrets that while negotiations are still ongoing to reach a consensus, the Malian Authorities took this decision on the transition,&#8221; the bloc said in a statement.



It said an ECOWAS negotiator would continue to engage Malian authorities to reach a &#8220;mutually agreed timeline&#8221;.



Heads of state from ECOWAS member countries met over the weekend in Ghana, where they agreed not to lift sanctions against Mali unless the junta proposed a shorter transition. They are expected to hold another summit before July 3.



(Reporting by Fadimata Kontao; Writing by Aaron Ross; Editing by Richard Pullin)

ecowas-3

West African bloc says it regrets Mali’s 24-month transition decision

<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, June 7 (Reuters)&nbsp;&#8211;&nbsp;The International Monetary Fund&nbsp;(IMF)&nbsp;said on Tuesday at the end of a visit to South Africa that its staff were increasingly concerned about the country&#8217;s economic growth outlook and&nbsp;the implications&nbsp;on employment, poverty and inequality.



Africa&#8217;s most industrialised economy has recovered from the COVID-19 pandemic faster than many analysts had predicted, with data on Tuesday showing first-quarter output reached pre-pandemic levels.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2XU20W&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



But the recovery has been uneven across sectors, and the country is one of the most unequal in the world.



In a statement, the IMF pointed to a series of shocks which it said adversely affected South Africa&#8217;s economic trajectory.



&#8220;The flooding in Durban, uncertainty about the war in Ukraine, tightening of global financial conditions, and China&#8217;s slowdown pose challenges to growth and price stability,&#8221; the IMF said.



&#8220;Policy action needs to focus on mitigating the impact of these shocks while addressing longstanding structural economic obstacles to growth.&#8221;



(Reporting by Alexander Winning; Editing by Estelle Shirbon)

BE2FA7DW6VJP3AYQ5S5CUCMQO4

IMF worried about impact of South Africa’s growth outlook on poverty

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-820x546.jpg" alt="" class="wp-image-417633" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-1536x1022.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>GDANSK, POLAND &#8211; 2022/05/19: Ryanair planes are seen at the Lech Walesa Airport in Gdansk. (Photo by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images)</figcaption></figure>



JOHANNESBURG, June 7 (Reuters)&nbsp;&#8211;&nbsp;The South African government said on Tuesday it was taken aback by Ryanair&#8217;s&nbsp;RYA.I&nbsp;decision to force UK-bound travelers holding the country&#8217;s passport to take a test in Afrikaans language to prove nationality, calling the move a &#8220;backward profiling system&#8221;.



The Irish low-cost airline had from last week started forcing UK-bound travelers with a South African passport to take a test in Afrikaans, a language spoken by just 12% of the country&#8217;s population and often associated with the apartheid and white minority rule.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2XT0RY&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Europe&#8217;s largest airline by passenger numbers, which does not operate flights to and from South Africa, had cited that it was doing this to curb high prevalence of fake South African passports.



The Department of Home Affairs in South Africa said the local government had measures that it regularly shares with airlines to curb any instances of fake documents.



<h3 class="wp-block-heading" id="h-read-more-ryanair-forces-south-africans-to-prove-nationality-with-afrikaans-test">Read more: <a href="https://www.cnbcafrica.com/2022/ryanair-forces-south-africans-to-prove-nationality-with-afrikaans-test/">Ryanair forces South Africans to prove nationality with Afrikaans test</a></h3>



&#8220;We are taken aback by the decision of this airline because the Department regularly communicates with all airlines to update them on how to validate South African passports, including the look and feel,&#8221; the department said.



All airlines have access to the &#8216;Advanced Passenger Processing&#8217; system which enables them to screen travelers before they depart and the government also runs a 24-hour service which airlines can use if they want to authenticate South African passports, it said.



&#8220;It is not clear to which extent the airline has used these services before resorting to this backward profiling system.&#8221;



(Reporting by Promit Mukherjee; Editing by James Macharia Chege and Frank Jack Daniel)<a href="https://www.reutersconnect.com/all?categories=NEWS_BUS_SPO&amp;id=tag%3Areuters.com%2C2022%3Anewsml_L4N2XU1T8%3A1786439456&amp;languages=ENG&amp;media-types=T&amp;regions=AFR&amp;sources=RTRS#"></a><a href="mailto:?body=Janet.Maloka%40abn360.com%20shared%20a%20story%20with%20you%20on%20Reuters%20Connect.%0A%0A%0ASouth%20Africa%20%27taken%20aback%27%20by%20Ryanair%27s%20Afrikaans%20test%20to%20prove%20nationality%0A%0A%0Ahttps%3A%2F%2Fwww.reutersconnect.com%2Fall%3Fid%3Dtag%253Areuters.com%252C2022%253Anewsml_L4N2XU1T8%26share%3Dtrue%0A%0A-----------------%0A%0AIf%20you%20are%20unable%20to%20see%20the%20news%20item%20or%20receive%20an%20error%2C%20be%20sure%20that%20the%20appropriate%20feeds%20are%20selected%20in%20your%20account%20settings%3Ahttps%3A%2F%2Fwww.reutersconnect.com%2Fsettings%0A&amp;subject=Reuters%20Story%3A%20South%20Africa%20%27taken%20aback%27%20by%20Ryanair%27s%20Afrikaans%20test%20to%20prove%20nationality"></a><a href="https://www.reutersconnect.com/all?categories=NEWS_BUS_SPO&amp;id=tag%3Areuters.com%2C2022%3Anewsml_L4N2XU1T8%3A1786439456&amp;languages=ENG&amp;media-types=T&amp;regions=AFR&amp;sources=RTRS#"></a><a href="https://www.reutersconnect.com/all?categories=NEWS_BUS_SPO&amp;id=tag%3Areuters.com%2C2022%3Anewsml_L4N2XU1T8%3A1786439456&amp;languages=ENG&amp;media-types=T&amp;regions=AFR&amp;sources=RTRS#"></a>

Ryanair planes are seen at the Lech Walesa Airport in Gdansk

South Africa ‘taken aback’ by Ryanair’s Afrikaans test to prove nationality

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/16628699446_7ea7f90086_k-820x549.jpg" alt="" class="wp-image-404232" width="399" height="266" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/16628699446_7ea7f90086_k-820x549.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/16628699446_7ea7f90086_k-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/16628699446_7ea7f90086_k-768x514.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/16628699446_7ea7f90086_k-1536x1028.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/16628699446_7ea7f90086_k.jpg 2048w" sizes="(max-width: 399px) 100vw, 399px" /><figcaption>Muhammadu Buhari</figcaption></figure>



ABUJA, June 6 (Reuters)&nbsp;&#8211;&nbsp;Nigerian President Muhammadu Buhari has no preferred candidate from the ruling All Progressives Party (APC) to succeed him, his spokesman said on Monday, a day before a convention to pick the party&#8217;s flag bearer for elections early next year.



Vice President Yemi Osinbajo and Bola Tinubu, a powerful former Lagos state governor, are seen as frontrunners to represent the APC during the presidential vote next February.



Buhari, who is constitutionally barred from contesting, will step down next year after eight years in office, leading to intense speculation on whom Buhari will back as his preferred successor.



But the president&#8217;s spokesman Garba Shehu said Buhari told APC governors from northern Nigeria during a meeting on Monday that he has &#8220;no preferred candidate,&#8221; and has &#8220;anointed no one&#8221;.



The governors separately told reporters that they were pushing for a presidential candidate from the mostly Christian south to succeed Buhari, a Muslim from northern Nigeria.



That would be in keeping with an unwritten agreement where power alternates between the largely Muslim north and mostly Christian south.



But the main opposition party chose former vice president and veteran politician Atiku Abubakar, a northern Muslim, as its presidential candidate last week. That would mean another northerner in office if he were to win the presidency.



That has led some APC politicians to push for a ruling party candidate from the north, which had more registered voters during the last election in 2019, according to the electoral agency.



(Reporting by Felix OnuahWriting by MacDonald DzirutweEditing by Leslie Adler)



<a href="https://www.reutersconnect.com/all?categories=NEWS_BUS_SPO&amp;id=tag%3Areuters.com%2C2022%3Anewsml_L8N2XT3DV%3A1603191120&amp;languages=ENG&amp;media-types=T&amp;regions=AFR&amp;sources=RTRS#"></a><a href="mailto:?body=Janet.Maloka%40abn360.com%20shared%20a%20story%20with%20you%20on%20Reuters%20Connect.%0A%0A%0ANigeria%27s%20Buhari%20has%20no%20preferred%20successor%2C%20spokesman%20says%0A%0A%0Ahttps%3A%2F%2Fwww.reutersconnect.com%2Fall%3Fid%3Dtag%253Areuters.com%252C2022%253Anewsml_L8N2XT3DV%26share%3Dtrue%0A%0A-----------------%0A%0AIf%20you%20are%20unable%20to%20see%20the%20news%20item%20or%20receive%20an%20error%2C%20be%20sure%20that%20the%20appropriate%20feeds%20are%20selected%20in%20your%20account%20settings%3Ahttps%3A%2F%2Fwww.reutersconnect.com%2Fsettings%0A&amp;subject=Reuters%20Story%3A%20Nigeria%27s%20Buhari%20has%20no%20preferred%20successor%2C%20spokesman%20says"></a><a href="https://www.reutersconnect.com/all?categories=NEWS_BUS_SPO&amp;id=tag%3Areuters.com%2C2022%3Anewsml_L8N2XT3DV%3A1603191120&amp;languages=ENG&amp;media-types=T&amp;regions=AFR&amp;sources=RTRS#"></a>

16628699446_7ea7f90086_k

Nigeria’s Buhari has no preferred successor, spokesman says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="530" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/01/3ILJCW5F2RJVJFNW275DPBOOJE-820x530.jpg" alt="" class="wp-image-414487" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/01/3ILJCW5F2RJVJFNW275DPBOOJE-820x530.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/3ILJCW5F2RJVJFNW275DPBOOJE-300x194.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/3ILJCW5F2RJVJFNW275DPBOOJE-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/3ILJCW5F2RJVJFNW275DPBOOJE-768x497.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/3ILJCW5F2RJVJFNW275DPBOOJE.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Colonel Assimi Goita, leader of Malian military junta, attends the Economic Community of West African States (ECOWAS) consultative meeting in Accra, Ghana September 15, 2020. REUTERS/ Francis Kokoroko</figcaption></figure>



BAMAKO, June 6 (Reuters) &#8211; Mali&#8217;s military junta will take 24 months from March 2022 to restore civilian rule after an August 2020 coup, its spokesman said on Monday, the latest move in negotiations with regional bloc ECOWAS to lift sanctions crippling the economy



The West African country&#8217;s military leaders have been under pressure to restore democracy since they toppled the government and failed on a promise to hold elections in February, prompting sanctions from the Economic Community of West African States (ECOWAS).&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2TP0CA&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;The duration of the transition is set at 24 months,&#8221; the transitional government spokesman Abdoulaye Maiga said on national television, with a start date of March 26, 2022.



Maiga said the decree followed an &#8220;advanced stage of negotiations with ECOWAS&#8221; and Mali hoped sanctions would be lifted.



&#8220;The adoption of this decree is proof of the willingness of (Malian) authorities to dialogue with ECOWAS,&#8221; he added.



Mali&#8217;s putsch leaders and regional heads of state have been at odds over a proposed five-year election timeline that was then revised to two &#8211; a delay that was previously rejected as too long by ECOWAS.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2VN0NL&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The ECOWAS bloc did not immediately comment on the 24-month decree adopted on Monday.



The length of the transition has also caused a rift with Mali&#8217;s partners including the United States and former colonial power, France.



Maiga said both the ECOWAS mediator on the crisis, former Nigeria President Goodluck Jonathan, and heads of state had been informed of the 24-month decree.



&#8220;We are hopeful&#8230; the sanctions will be lifted imminently,&#8221; he said, adding that an electoral timeline would follow.



West African heads of state met in Ghana&#8217;s capital Accra over the weekend to discuss the situation and agreed not to lift sanctions, which include border closures and restrictions on financial transactions, unless interim leaders proposed a shorter transition.



The leaders are expected to convene for another summit before July 3.



Military governments in neighbouring Burkina Faso and Guinea are also facing similar threats from ECOWAS for dragging their feet on democratic transitions.



(Reporting by Fadimata Kontao and Bate Felix; Writing by Sofia Christensen; Editing by Grant McCool and Richard Pullin)

3ILJCW5F2RJVJFNW275DPBOOJE

Mali junta adopts 24-month transition to democratic rule from March

<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/UDJTUDDMDROBPMUGKGPRYGOQAU-820x547.jpg" alt="" class="wp-image-414276" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/12/UDJTUDDMDROBPMUGKGPRYGOQAU-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/UDJTUDDMDROBPMUGKGPRYGOQAU-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/UDJTUDDMDROBPMUGKGPRYGOQAU-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/UDJTUDDMDROBPMUGKGPRYGOQAU-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/UDJTUDDMDROBPMUGKGPRYGOQAU.jpg 960w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>Former South African President Jacob Zuma speaks with his legal counsel in court during his corruption trial in Pietermaritzburg, South Africa, October 26, 2021. Jerome Delay/Pool via REUTERS</figcaption></figure>



June 7 (Reuters)&nbsp;&#8211;&nbsp;South Africa&nbsp;said&nbsp;on Monday the&nbsp;United Arab Emirates had arrested Rajesh Gupta and Atul Gupta, brothers who face charges of political corruption under former South African president Jacob Zuma.



Confirming South Africa&#8217;s statement on Tuesday, Dubai police said on Twitter that it had coordinated with South African authorities &#8220;regarding the extradition file to complete the legal procedures&#8221;.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AC6N2VW011&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



South Africa&#8217;s Ministry of Justice and Correctional Services&nbsp;said on Monday there were&nbsp;discussions between various law enforcement agencies in the UAE and South Africa &#8220;on the way forward&#8221;.&nbsp;The two nations agreed an extradition treaty last year.



The brothers are accused of using connections with Zuma, who ruled from 2009 to 2018, to win contracts, misappropriate state assets, influence cabinet appointments and siphon off state funds. Zuma and the Guptas deny any wrongdoing.



The Indian-born brothers left South Africa after Zuma was ousted in 2018. An inquiry was established in 2018 to examine allegations of graft during Zuma&#8217;s years in power.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2TK1G5&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a><a href="https://www.reutersconnect.com/all?search=all%3AL2N2WR19L&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The UAE ratified an extradition treaty with South Africa in April 2021, a move that South African President Cyril Ramaphosa&#8217;s government hoped would lead to the return of the Guptas to face charges.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2NR4A9&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



South Africa&#8217;s largest opposition party welcomed the arrests.



&#8220;We hope that this is indeed the beginning of arrests and prosecution of those who have &#8211; locally and abroad &#8211; looted our country for years and are directly responsible for the hardships that millions of South Africans face today,&#8221; the Democratic Alliance said in a statement.



(Reporting by Bhargav Acharya in Bengaluru, James Macharia Chege in Johannesburg and Nadine Awadalla in Dubai; Editing by Gareth Jones)

UDJTUDDMDROBPMUGKGPRYGOQAU

South Africa says UAE arrests Gupta brothers, wanted on corruption charges

<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>



BLANTYRE, June 6 (Reuters)&nbsp;&#8211;&nbsp;Malawi has requested a four-year extended credit facility to help with balance of payments difficulties, the International Monetary Fund (IMF) said on Monday.



The donor-dependent southern African country has been experiencing acute foreign currency shortages. Late last month it allowed its kwacha currency to weaken 25% against the dollar.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL3N2XJ100&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;The authorities have requested an arrangement (on) the back of the protracted balance of payments problem,&#8221; the IMF said in a statement after talks with Malawian government officials and private sector representatives.



<h3 class="wp-block-heading" id="h-read-more-imf-cuts-global-growth-forecasts-on-russia-ukraine-war-says-risks-to-economy-have-risen-sharply">Read more: <a href="https://www.cnbcafrica.com/2022/imf-cuts-global-growth-forecasts-on-russia-ukraine-war-says-risks-to-economy-have-risen-sharply/">IMF cuts global growth forecasts on Russia-Ukraine war, says risks to economy have risen sharply</a></h3>



The fund said restoring debt sustainability and resolving a case involving alleged misreporting of foreign-exchange reserves were pre-requisites for IMF support.



&#8220;While the authorities are addressing these issues, the IMF team conducted a mission to agree on (a) macroeconomic framework, policies and reforms,&#8221; it added.



The IMF said it welcomed the move to normalise the forex market and that Malawi&#8217;s authorities had engaged a debt advisor to suport efforts to address unsustainable public debt.



(Writing by Alexander WinningEditing by James Macharia Chege)

IMF says Malawi requests four-year credit facility

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-820x546.jpg" alt="" class="wp-image-417633" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-1536x1022.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240778474-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>GDANSK, POLAND &#8211; 2022/05/19: Ryanair planes are seen at the Lech Walesa Airport in Gdansk. (Photo by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images)</figcaption></figure>



DUBLIN, June 6 (Reuters)&nbsp;&#8211;&nbsp;Ryanair&nbsp;RYA.I&nbsp;is requiring South African passengers to prove their nationality before travelling by completing a test in Afrikaans, a language used by just by 12% of the population that has long been identified with apartheid and the white minority.



Europe&#8217;s largest airline by passenger numbers, which does not operate flights to and from South Africa, said it required any UK-bound passengers from the country to fill in the &#8220;simple questionnaire&#8221; due to what it described as a high prevalence of fraudulent South African passports.



&#8220;If they are unable to complete this questionnaire, they will be refused travel and issued with a full refund,&#8221; a spokesman for the Irish airline said.



The UK High Commission in South Africa said on Twitter that the test was not a British government requirement to enter the United Kingdom.



<h3 class="wp-block-heading" id="h-read-more-south-africa-s-comair-suspends-flights-until-funding-secured">Read more: <a href="https://www.cnbcafrica.com/2022/south-africas-comair-suspends-flights-until-funding-secured/">South Africa’s Comair suspends flights until funding secured</a></h3>



Ryanair said it would apply to any South African passport holder flying to Britain from another part of Europe on the carrier. The airline did not immediately respond to a query about why it would apply to those routes, given Britain says it is not a requirement.



Afrikaans is the third most spoken of 11 official languages in South Africa, used by 12% of the 58 million people in the country. It was considered the official language until the end of apartheid in 1994.



The language was born of Dutch settlement in South Africa in the 17th century, and has long been identified with racial classification and associated with the ideology of apartheid which was primarily enforced and propagated by the white minority National Party from 1948.



Its dominance under apartheid was seen as a symbol of inequality imposed on previous generations by restrictions on where people could live, work, go to school and own land.



(Reporting by Padraic Halpin in Dublin and Promit Mukherjee in Johannesburg; Editing by Alison Williams)

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Reuters

Congo says Rwandan forces supported latest rebel attacks as thousands flee

UK courts to hear last-minute appeals to stop first Rwanda deportation flight leaving

South Africa’s oldest private airline in liquidation after it fails to get funds

Warming Africa threatens insurers’ quest for profit

Nigeria ruling party picks ex-governor of Lagos Tinubu to run for president

OPEC+ efforts to boost oil output ‘not encouraging’, UAE minister says

IMF urges countries to support vulnerable, avoid blanket subsidies as food, fuel prices soar

NFL-League to hold first official events in Africa, including talent camp

South Africa’s finance minister names acting Treasury head

West African bloc says it regrets Mali’s 24-month transition decision

IMF worried about impact of South Africa’s growth outlook on poverty

South Africa ‘taken aback’ by Ryanair’s Afrikaans test to prove nationality

Nigeria’s Buhari has no preferred successor, spokesman says

Mali junta adopts 24-month transition to democratic rule from March

South Africa says UAE arrests Gupta brothers, wanted on corruption charges

IMF says Malawi requests four-year credit facility

Ryanair forces South Africans to prove nationality with Afrikaans test

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