<figure class="wp-block-image"><img decoding="async" src="https://cloudfront-us-east-2.images.arcpublishing.com/reuters/MZRRFP7THBIUVAC2PF3TRCVGD4.jpg" alt="World Health Organization (WHO) Director General Tedros Adhanom Ghebreyesus waits for the arrival of Swiss Interior and Health Minister Alain Berset before a bilateral meeting on the sidelines of the opening of the 74th World Health Assembly at the WHO headquarters, in Geneva, Switzerland May 24, 2021. Laurent Gillieron/Pool via REUTERS"/><figcaption>World Health Organization (WHO) Director General Tedros Adhanom Ghebreyesus waits for the arrival of Swiss Interior and Health Minister Alain Berset before a bilateral meeting on the sidelines of the opening of the 74th World Health Assembly at the WHO headquarters, in Geneva, Switzerland May 24, 2021. Laurent Gillieron/Pool via REUTERS</figcaption></figure>



Tedros Adhanom Ghebreyesus, who has steered the global response to the COVID-19 pandemic, is on course to serve a second five-year term as head of the World Health Organization (WHO) after being the only candidate nominated by 28 countries.



Tedros, a former health and foreign minister of Ethiopia, was the first African elected WHO director-general in May 2017.



The clean slate for the May election comes even as the European Commission suspending funding to WHO programmes in the Democratic Republic of Congo over a major sexual abuse scandal, as reported exclusively by Reuters on Thursday.&nbsp;<a href="https://www.reuters.com/world/africa/exclusive-eu-suspends-funding-who-programmes-congo-after-sex-scandal-2021-10-28/">read more</a>



Some 83 aid workers, a quarter of them employed by the WHO, were involved in sexual exploitation and abuse during Congo&#8217;s 2018-2020 Ebola epidemic, an independent probe said last month.



Health ministers from the WHO&#8217;s 194 member states are also due to hold an exceptional assembly in November amid mounting pressure for reform pursuant to the organisation&#8217;s handling of the pandemic.



Tedros drew support from France and Germany, among other European Union members, and three African countries &#8211; Botswana, Kenya and Rwanda &#8211; the official nomination list showed. Britain, China, Russia and the United States were not among them.



&#8220;WHO can announce that a single candidate was proposed by member states by the 23 September 2021 deadline: Dr Tedros Adhanom Ghebreyesus, who is the incumbent director-general,&#8221; the agency said in a statement. The nominations were kept secret to limit lengthy campaigning.



Earlier, the agency sent a letter to member states informing them of the confidential nominations contained in the sealed envelopes submitted by the deadline&nbsp;<a href="https://www.reuters.com/world/tedros-sole-nominee-who-chief-western-diplomats-tell-reuters-2021-10-29/">read more</a>



Ethiopia declined to nominate Tedros for a second term due to friction over the conflict in the Tigray region of northern Ethiopia, making it necessary for other countries to step in and do so.



The issue is so sensitive that the African Union has not even discussed the appointment, including at its latest summit this month, African diplomats said.



Tedros has led the global response to COVID-19, the worst public health crisis in a century, which broke out in the central Chinese city of Wuhan in late 2019 and has killed 5.2 million people.



The United States, under former President Donald Trump, accused him of being &#8220;China-centric&#8221;, a charge he denies.



Relations have warmed since Joe Biden&#8217;s administration took office in January.



But he annoyed China with public calls in July for it to share Wuhan lab audits and provide more data on early COVID-19 cases. WHO investigators have yet to regain access to the country to probe the origins of coronavirus.



&#8220;STAYING POWER&#8221;



The United States and Germany have led major donors in demanding fundamental reforms to the WHO&#8217;s structure, financing and capacity to deal with outbreaks.



The European Commission informed the WHO on Oct. 7 that it was immediately suspending funding to its Congo programmes due to concerns over its handling of the sexual abuse scandal. Tedros went to Congo 14 times during the epidemic but says that he was unaware of the allegations.<a href="https://www.reuters.com/world/africa/exclusive-eu-suspends-funding-who-programmes-congo-after-sex-scandal-2021-10-28/">&nbsp;read more</a>



&#8220;We have received the (EU) letter and we are now considering a response,&#8221; WHO spokesperson Margaret Harris told a briefing on Friday.



A European source, asked whether the Congo scandal could have an impact on Tedros&#8217; re-election, said: &#8220;Nope. He personally is taking the right steps and measures. As long as there is not a direct link to him. Which I don’t see.&#8221;



An African ambassador in Geneva, declining to be identified, said: “Dr. Tedros has done a very good job dealing with a severe pandemic with severe repercussions. He has tried to contribute within the capacity and the resources of WHO and to realize a more equitable distribution of vaccines at the global level.&#8221;



“He is a friend of Africa, he has done a lot of work and deserves a lot of support,&#8221; the ambassador said.



Norwegian Prime Minister Jonas Gahr Stoere, speaking at a news briefing with Tedros on Thursday, where the WHO launched a $23.4 billion plan to bring COVID-19 vaccines and drugs to poorer countries, told him:



&#8220;I wish you all luck in your endeavour and I salute your staying power and your ability to keep focus on this agenda, servicing your broad membership and the whole world.&#8221;

Bilateral meeting on the sidelines of annual World Health Assembly in Geneva

Tedros sole nominee as WHO chief, U.N. agency says

World leaders are under huge pressure to outline how they plan to reduce emissions and mitigate climate change at one of the most important diplomatic summits in history.



The major climate event,&nbsp;<a href="https://www.cnbc.com/the-road-to-cop26/">known as COP26</a>, will take place in Glasgow, Scotland from Sunday through to Nov. 12. It was initially scheduled to be held last year but was delayed due to the coronavirus pandemic.



Diplomats and world leaders have sought to&nbsp;<a href="https://www.reuters.com/business/cop/uk-pm-johnson-cop26-outcome-is-balance-2021-10-27/" target="_blank" rel="noreferrer noopener">downplay expectations</a>&nbsp;of success in the run-up to the summit, although&nbsp;<a href="https://drive.google.com/file/d/1LfeLF7hOkecQDdD9FKYu_Y00LVzeiTX6/view" target="_blank" rel="noreferrer noopener">a position paper</a>&nbsp;of more than 100 developing countries representing more than half of the world has insisted there can be “no more excuses for unfulfilled promises.”



To have any chance of capping global heating to 1.5 degrees Celsius above pre-industrial levels, the aspirational goal of the&nbsp;<a href="https://www.cnbc.com/2015/12/13/paris-climate-agreement-all-you-need-to-know.html">2015 Paris Agreement</a>, the world needs to almost halve greenhouse gas emissions in the next 8 years and reach net-zero emissions by 2050.



Climate scientists have repeatedly stressed that the best weapon to tackle rising global temperatures is to cut greenhouse gas emissions —&nbsp;<a href="https://www.cnbc.com/2021/08/09/ipcc-report-un-climate-report-delivers-starkest-warning-yet.html">fast</a>.



Johan Rockstrom, director of the Potsdam Institute for Climate Impact Research and one of the world’s most influential Earth scientists, told CNBC that he believes the success of COP26 will come down to negotiations on five make-or-break issues.



These are mitigation, climate finance, carbon pricing, nature solutions and the phasing out of fossil fuels.



<h2 class="wp-block-heading" id="h-mitigation"><a></a>Mitigation</h2>



“We must, at a minimum, have 195 countries aligning with science in their plans — not even delivering, but just in their plans — and that requires net zero targets by 2050 at the latest,” Rockstrom said.



“We only have a small number of countries that have done that so far,” he added, noting that countries such as Indonesia, Russia and Brazil were all yet to publicly declare net-zero targets by the middle of the century.



A U.N. report&nbsp;<a href="https://news.un.org/en/story/2021/10/1104012" target="_blank" rel="noreferrer noopener">published earlier this week</a>&nbsp;found new and updated Nationally Determined Contributions put the world on track for a dangerous global temperature rise of at least 2.7 degrees Celsius by the end of the century — even if plans were fully met.



NDCs are the efforts of each country to reduce national emissions. At present, the U.N. says updated NDCs would only lead to an additional 7.5% reduction in annual greenhouse gas emissions compared to previous commitments.



<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/106967581-1635497924269-gettyimages-1236179743-63368575.jpeg?v=1635498023&amp;w=929&amp;h=523" alt="Climate activists &quot;set fire&quot; to George Square, Glasgow, with an art installation of faux flames, smoke, and banners, and giant fire extinguishers, creating a field of climate fire to welcome world leaders to Glasgow for the Cop26 conference."/><figcaption>Climate activists “set fire” to George Square, Glasgow, with an art installation of faux flames, smoke, and banners, and giant fire extinguishers, creating a field of climate fire to welcome world leaders to Glasgow for the Cop26 conference. Andrew Milligan | PA Images | Getty Images </figcaption></figure>



Farhana Yamin, a climate lawyer and advisor to the Climate Vulnerable Forum, told CNBC via telephone that COP26 must trigger a profound “justice reset” if it is to be considered a successful summit. “Success can only come from grasping hard truths, speaking honestly and recognizing the situation of vulnerable countries.”



It is not good enough, she added, for those at COP26 to continue talking about their optimism for the future when countries are nowhere close to meeting the demands of the climate emergency.



“Beating the drum and calling it optimism isn’t cutting the mustard with anybody. Optimism isn’t solving the lives of developing countries or vulnerable groups right now who are facing the consequences of failure,” Yamin said.



“It’s like a further insult. What is optimism for a country that is now facing complete devastation?”



<h3 class="wp-block-heading"><a></a>Finance</h3>



High-income countries promised in 2009 to deliver $100 billion a year for five years from 2020 to help low-income countries pivot away from fossil fuels and protect against climate breakdown. This Paris Agreement target&nbsp;<a href="https://unfccc.int/news/un-climate-chief-urges-countries-to-deliver-on-usd-100-billion-pledge" target="_blank" rel="noreferrer noopener">has still not been fulfilled</a>&nbsp;and is not expected to be met until at least 2023.



“In all honesty, this is really just small money,” Rockstrom said, noting the trillions of dollars in bailouts spent by global governments in an effort to recover from the coronavirus pandemic.



“We are talking about the trillions that are needed to have a full 100% transition of investments from fossil-fuel-based infrastructure to renewable infrastructure so that we can really see decisive change and direction. There must be a finance discussion.”



Climate finance is widely regarded as a critically important issue, particularly when it comes to repairing global trust.



“Success would be for countries to stop playing games with the issue of loss and damage and actually fund it,” Yamin said. “Stop pretending loss and damage isn’t happening and find a way to fund it.”



<h3 class="wp-block-heading"><a></a>Carbon pricing</h3>



To its proponents, carbon pricing is seen as an important way to incentivize emissions reductions and help low-carbon technologies compete with established, heavily polluting alternatives.



To its critics, however, Article 6 of the Paris Agreement risks&nbsp;<a href="https://www.carbonbrief.org/in-depth-q-and-a-how-article-6-carbon-markets-could-make-or-break-the-paris-agreement" target="_blank" rel="noreferrer noopener">undermining the ambition of the accord</a>&nbsp;at a time when there is overwhelming evidence of the need to go further and faster to avoid climate tipping points. This is because&nbsp;<a href="https://www.oecd-ilibrary.org/environment/markets-negotiations-under-the-paris-agreement_99d9e615-en;jsessionid=cDBkltfA0a_zAefv_EzqATa3.ip-10-240-5-69" target="_blank" rel="noreferrer noopener">some fear</a>&nbsp;carbon trading arrangements could allow countries to hit already-weak targets without cutting additional emissions.



“The third part which, whether we like it or not, has to be on the table is a price on carbon. That has to be discussed globally,” Rockstrom said.



<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/106867533-1618326244036-gettyimages-1230798297-AFP_8ZK6LP.jpeg?v=1634096170&amp;w=929&amp;h=523" alt="Electricity pylons are seen in front of the cooling towers of the coal-fired power station of German energy giant RWE in Weisweiler, western Germany, on January 26, 2021."/><figcaption>Electricity pylons are seen in front of the cooling towers of the coal-fired power station of German energy giant RWE in Weisweiler, western Germany, on January 26, 2021. Ina Fassbender | AFP | Getty Images</figcaption></figure>



He argued that COP26 represented a “completely new situation” when it came to carbon pricing because, for the first time, Europe’s Emissions Trading System was “starting to bite” polluting industries.



The EU’s benchmark carbon price was last seen trading at around 60 euros per metric ton, having stood at around 20 euros before the coronavirus pandemic. The price rise has resulted in some coal-fired power plants being shut down, Rockstrom said. “I think we will start seeing carbon pricing spreading and so that has to be on the table at a global level,” he added.



<h3 class="wp-block-heading"><a></a>Nature</h3>



“The fourth part and perhaps the most important one for Glasgow is to make this the first COP meeting that is really a nature COP,” Rockstrom said. “It has to be the climate negotiating moment where we recognize that the only way to land the Paris Agreement, I mean the only way, is to secure the carbon sinks in nature — on land and in oceans. There is no carbon budget remaining unless we secure those sinks.”



Carbon sinks are natural areas, such as oceans and forests, that absorb more carbon than they emit.



Rockstrom suggested pricing carbon in biomass, in soils and in all ecosystems should be taken into account in the coming weeks.



The U.K. COP26 presidency has&nbsp;<a href="https://ukcop26.org/nature/" target="_blank" rel="noreferrer noopener">recognized</a>&nbsp;the twin threats of climate change and biodiversity loss cannot be solved without addressing the other. Sustainable agriculture and land use and action on restoring forests and other critical ecosystems are set to be discussed in Scotland.



In an article&nbsp;<a href="https://www.chathamhouse.org/publications/the-world-today/2021-10/manifesto-justice-cop26-and-beyond" target="_blank" rel="noreferrer noopener">published online</a>&nbsp;for London-based think tank Chatham House earlier this month, Yamin suggested that considering the rights of nature through legal tools&nbsp;<a href="https://www.cnbc.com/2021/06/22/how-a-growing-movement-plans-to-put-ecocide-on-a-par-with-war-crimes.html">such as ecocide</a>, for example, and the taking the interests of future generations should be on the table in Glasgow.



Another area to be considered, Yamin said, would be for COP26 to consider creating a post for a “High-Level Champion” to speak up for the incorporation of justice, equality, diversity and inclusion issues. She argued a COP-appointed position such as this could help to challenge&nbsp;<a href="https://www.cnbc.com/2021/04/23/what-to-know-about-greenwashing-in-sustainable-investments.html">greenwashing</a>.



<h2 class="wp-block-heading"><a></a>Phasing out fossil fuels</h2>



Burning fossil fuels, such as coal, oil and gas, is the&nbsp;<a href="https://www.cnbc.com/2021/10/20/climate-fossil-fuel-use-dangerously-out-of-sync-with-global-targets.html">chief driver of the climate emergency</a>.



At COP26, Costa Rica and Denmark are&nbsp;<a href="https://www.cnbc.com/2021/09/20/oil-and-gas-inside-the-diplomatic-alliance-to-keep-fossil-fuels-in-the-ground.html">expected to formally launch</a>&nbsp;the Beyond Oil and Gas Alliance, the world’s first diplomatic alliance to manage the decline of oil and gas production.



It is coal, however, that is the most carbon-intensive fossil fuel in terms of emissions and therefore the&nbsp;<a href="https://www.cnbc.com/2021/08/19/coal-prices-the-worlds-least-liked-commodity-sees-remarkable-rally.html">most important target for replacement</a>&nbsp;in the pivot to renewable alternatives.



A global <a href="https://www.cnbc.com/2021/09/16/europes-energy-crisis-is-making-the-market-nervous-ahead-of-winter.html">energy supply crunch</a> this year has coincided with a <a href="https://www.nytimes.com/2021/10/28/business/energy-environment/china-coal-climate.html" target="_blank" rel="noreferrer noopener">resurgence of coal production</a>, raising serious questions about the so-called “<a href="https://www.cnbc.com/2021/04/14/climate-global-fossil-fuel-use-accelerating-and-set-to-get-even-worse.html">energy transition</a>.”



<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/106929568-1629274523645-gettyimages-1229039465-AUSTRALIA_COAL.jpeg?v=1634804627&amp;w=929&amp;h=523" alt="A freight train transports coal from the Gunnedah Coal Handling and Prepararation Plant, operated by Whitehaven Coal Ltd., in Gunnedah, New South Wales, Australia, on Tuesday, Oct. 13, 2020."/><figcaption>A freight train transports coal from the Gunnedah Coal Handling and Prepararation Plant, operated by Whitehaven Coal Ltd., in Gunnedah, New South Wales, Australia, on Tuesday, Oct. 13, 2020. David Gray | Bloomberg | Getty Images</figcaption></figure>



“We have to have a serious discussion on end-dates on fossil fuels use. An end date on coal and an end date on the internal combustion engine,” Rockstrom said.



“We’ve never had that moment arising in such a concrete way before. How do we create a way for the big emerging economies to seriously take on the challenge of phasing out coal in a way that allows a soft social landing? It is tremendously challenging but an absolute necessity.”



Research published in the scientific journal Nature on Sept. 9 found the vast majority of the world’s known fossil fuel reserves must be kept in the ground to have some hope of preventing the worst effects of climate change.

afdb

What’s at stake at the COP26 climate summit? Here’s a guide to the make-or-break issues

<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TFGHJKL-820x774.png" alt="" class="wp-image-412577" width="739" height="698" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TFGHJKL-820x774.png 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TFGHJKL-300x283.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TFGHJKL-95x90.png 95w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TFGHJKL-768x725.png 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TFGHJKL.png 844w" sizes="auto, (max-width: 739px) 100vw, 739px" /><figcaption>&nbsp;Kabelo Makwane, Managing Executive: Cloud, Hosting &amp; Security, Business Solutions; Vodacom Business&nbsp;</figcaption></figure>



The first risk concerned job losses, with more than 110 million fewer jobs available globally and 14 million more people inactive in the job market or who aren’t seeking work in OECD countries, this painted a grim picture for long-term unemployment. The second major concern pointed out the existing social and economic divide which had been further deepened by the pandemic. Some of these imminent problems are the diminishing working hours for the lower income earners, the remote model be it for working or learning not being accessible to all, and the growing youth employment gap. The outlook also reported that approximately 3 million more youth across the OECD countries fall under its NEET (Not in Employment, Education or training) bracket, compared to 2019.&nbsp;



Attendees to the 2nd&nbsp;annual&nbsp;Future of Work Virtual Conference&nbsp;can look forward to sessions that will all reflect on what&#8217;s happening on ground and the speed of transformation, as prominent speakers engage on new work trends for the post-pandemic business. This half day conference is&nbsp;being brought to audiences, free of charge, on Wednesday 13 October 2021 from 12h30pm to 15h30pm CAT, by CNBC AFRICA in partnership with Vodacom Business, SEACOM Business and FORBES AFRICA.&nbsp;



&nbsp;“We have been hearing about the benefits of 5G for years now, but it wasn&#8217;t until remote work, video conferencing and digital collaboration became core parts of our lives this year that the need for reliable connectivity and more bandwidth became a real, concrete benefit that we could all wrap our heads around. As Vodacom, we firmly believe in a connected digital society that connects people, communities and things to the internet like never before. The conference will unpack what the impact of a 5G enabled society can do for the economy and society at large, as we all endeavor to recover from the devastating impact pf COVID-19”, says Pavesh Govender, Managing Executive of IoT at Vodacom Business.&nbsp;



“Last year, CNBC AFRICA hosted the first of its kind Future of Work Virtual Conference, in partnership with FORBES AFRICA and esteemed sponsors. The conference attracted more than 2 000 global viewers who engaged with industry experts on digital opportunities for the continent. We look forward to bring our audience, another thought-provoking half day conference this year, as we look into the future world of hybrid work, addressing critical challenges and brain-picking solutions from leaders in the industry, thanks to our valued partners; Vodacom Business and SEACOM Business.” says Roberta Naicker, Managing Director for the ABN Group. &nbsp;



The 2021 Future of Work Virtual Conference&nbsp;speaker panel topics include:&nbsp;



<ul class="wp-block-list"><li>Work from Home and the Hybrid Office&nbsp;</li><li>5G as Multi-lane Communications Superhighway for the 24/7 Enterprise&nbsp;</li><li>Digital Transformation and the Role of Hybrid Cloud in Meeting the Demands of Business&nbsp;</li><li>Confidential Computing &amp; Cybersecurity&nbsp; </li></ul>



Speaker lineup: &nbsp;



<ul class="wp-block-list"><li>Kabelo Makwane, Managing Executive: Cloud, Hosting &amp; Security, Business Solutions; Vodacom Business&nbsp;</li><li>Steve Briggs,&nbsp;Chief Sales and Marketing Officer; SEACOM Business&nbsp;</li><li>Pavesh Govender, Managing Executive: Internet of Things (IoT) Africa; Vodacom Business&nbsp;</li><li>Emma Luyt, Managing Director;&nbsp;Tétris&nbsp;</li><li>Ignus de Villiers, Group Head of Cyber Security; Liquid Intelligent Technologies&nbsp;</li><li>Sizwe Cakwebe, Primary Contact and Cyber Risk Manager; SHA&nbsp;</li><li>Rudi van Blerk, Principal and Recruitment Director; Boston Consulting Group&nbsp;</li><li>Eva Andrén, Vice-President and Head of Managed Services; Ericsson Middle East &amp; Africa&nbsp;</li><li>John Brodie, Head: Future of Work and Leadership Services; Deloitte Africa&nbsp;</li><li>Colin Erasmus, Modern Workplace and Security Business Group Lead; Microsoft South Africa</li><li>Lars Jeppesen, CEO &amp; Co-Founder, Tech One Global&nbsp;</li></ul>



Panel moderators: &nbsp;



<ul class="wp-block-list"><li>Godfrey Mutizwa, Editor-in-Chief, CNBC Africa &nbsp;&nbsp;</li><li>Dan Adkins, Group CEO, Transnational Academic Group&nbsp;</li><li>Toby Shapshak, Editor, Stuff Magazine&nbsp;</li></ul>



Space is limited, so register now for this free-of-charge virtual conference at&nbsp;<a href="https://hopin.com/events/future-of-work-summit-africa">https://hopin.com/events/future-of-work-summit-africa</a>



For more information and event updates follow us @cnbcafrica by using the hashtags #FOW2021 #ABNEvents.&nbsp;

image-536×800

JOIN THE FUTURE OF WORK VIRTUAL CONFERENCE – exploring shifting trends in a new post-pandemic hybrid world of work.

<figure class="wp-block-image"><img decoding="async" src="https://bp.com/content/dam/bp/country-sites/en_za/south-africa/home/home/covid19_slider.jpg" alt="Home"/><figcaption><a rel="noreferrer noopener" target="_blank" href="https://www.bp.com/en_za/south-africa/home.html"> BP </a> Image via :&nbsp;Copyright/RalphBronzin</figcaption></figure>



&nbsp;BP&nbsp;and&nbsp;Eni&nbsp;are&nbsp;seeking to&nbsp;raise&nbsp;up&nbsp;to $2 billion for their emerging&nbsp;oil&nbsp;and&nbsp;gas&nbsp;joint&nbsp;venture&nbsp;in&nbsp;Angola&nbsp;as both firms attempt to reduce their own debt to help build&nbsp;up&nbsp;renewables businesses, banking and industry&nbsp;sources&nbsp;said.



BP&nbsp;and&nbsp;Eni&nbsp;announced in May that they had entered into talks to merge their&nbsp;oil,&nbsp;gas&nbsp;and liquefied natural&nbsp;gas&nbsp;(LNG) operations in&nbsp;Angola&nbsp;to form one of Africa&#8217;s largest energy companies.



Spinning off&nbsp;oil&nbsp;and&nbsp;gas&nbsp;assets is seen as a way for them to squeeze more out of such assets as they try to reduce their greenhouse&nbsp;gas&nbsp;emissions and shift towards renewable energy.



It is also seen as a way to remove debt from the parent company to the independent&nbsp;joint&nbsp;venture, making it easier for the parent companies to&nbsp;raise&nbsp;money for low-carbon businesses.



BP&nbsp;and&nbsp;Eni&nbsp;have in recent weeks contacted a number of leading western banks to request proposals to&nbsp;raise&nbsp;$1.5-$2 billion for the&nbsp;joint&nbsp;venture, four&nbsp;sources&nbsp;said.



&#8220;They are trying to deconsolidate the&nbsp;Angolan assets and want to&nbsp;raise&nbsp;cash for the&nbsp;joint&nbsp;venture&#8217;s&nbsp;upstream operations,&#8221; one of the&nbsp;sources&nbsp;said.



BP&nbsp;and&nbsp;Eni&nbsp;declined to comment.



However, many western banks are unlikely to lend the money due to growing investor and government pressure for them to reduce investments in fossil fuels, particularly in countries where environmental standards are not tightly monitored, the&nbsp;sources&nbsp;said.



On Friday, a senior U.S. climate envoy said that Western fossil fuel companies investing in Africa face a significant risk of regulatory action that&#8217;s getting more explicit as the world moves to try to tackle dangerous climate change.

BP_Connect_Kapiti,_New_Zealand

BP, Eni seek to raise $2 bln for Angola joint venture

<figure class="wp-block-image"><img decoding="async" src="https://live.staticflickr.com/65535/50952193293_13f8a326b9_b.jpg" alt="President Cyril Ramaphosa joins healthcare workers to rece… | Flickr"/><figcaption>President Cyril Ramaphosa: Image via Flickr </figcaption></figure>



South African President Cyril Ramaphosa has eased restrictions aimed at combating the coronavirus pandemic to the country&#8217;s lowest alert level, the second such loosening this month as the country looks to open up its economy ahead of the summer holiday season.



In a televised address, Ramaphosa announced the country would move down one level in a five-tier system of restrictions, where five is the highest, to an &#8216;adjusted level 1&#8217; as South Africa emerges from its third wave dominated by the Delta variant of the virus.



&#8220;The current trends in the progression of the pandemic mean that a number of the restrictions in place can be eased,&#8221; Ramaphosa said.



In addition to relaxing a curfew, now in place from midnight to 4 a.m., Ramaphosa announced that the maximum number of people permitted to gather outdoors will increase to 2,000 from 500, while the maximum number of people allowed at funerals could double to 100.



However, with local government elections set for Nov. 1, Ramaphosa urged people to get vaccinated to help prevent a resurgence of infections, as vaccine hesitancy crimped an inoculation programme that has struggled to get out of the starting blocks.



&#8220;Campaign activities pose the greatest risk to a surge in new infections,&#8221; he said, adding that should South Africa reach its target of vaccinating 70% of its adult population by December, an estimated 20,000 lives could be saved.



Thus far around 8.6 million people, or more than one-fifth of all adults, have been fully vaccinated, he said.



On Sunday, the National Institute for Communicable Diseases said the country had exited its third and worst COVID-19 wave, with the national 7-day moving average of daily case numbers and percentage of people testing positive for the coronavirus showing sustained decreases.



South Africa has reported just under 88,000 COVID-19 deaths and a total of 2.9 million laboratory-confirmed cases, the worst in Africa on both counts, since detecting its first infection in March last year, the latest data showed.&nbsp;

50952193293_13f8a326b9_b

South African president Ramaphosa eases COVID-19 restrictions to lowest level

<div class="wp-block-image"><figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/image.png" alt="" class="wp-image-412379" width="673" height="446" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/image.png 792w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/image-300x199.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/image-136x90.png 136w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/image-768x509.png 768w" sizes="auto, (max-width: 673px) 100vw, 673px" /><figcaption>FILE PHOTO: Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016. REUTERS/Jason Lee/Illustration</figcaption></figure></div>



Central banks that launched massive emergency support to fight the pandemic last year are now planning a global turn in the other direction, with gaps already emerging in their perceived risk of inflation, the need to respond to it, and the pace of the likely return to normal monetary policy.



They are confronted with common supply shocks and common risks around a pandemic that continues to shape commerce.



&#8220;Globally we are still in for a long process,&#8221; of reopening and adapting to the post-pandemic economy, St. Louis Federal Reserve President James Bullard said this week in a Reuters interview.



But the reopening, and particularly the associated inflation, is being felt differently across the developed world, testing officials&#8217; understanding of the post-pandemic economy and their ability to hit a shared 2% inflation target without derailing global growth.



The heads of the world&#8217;s four major central banks gather for a mostly virtual European Central Bank forum on Wednesday, and if last year was marked by a uniform rush to stave off the worst, their exit strategies are already diverging.



That&#8217;s led to major policy scuffling both in Europe and the United States over how much inflation risk central banks should tolerate as they try to make up for sluggish prices in the years since the Great Recession a decade ago &#8211; a major gamble, in effect, over whether the post-pandemic world will work the same as before.



Policy divergence among the world&#8217;s major central banks can influence markets worldwide, shifting capital flows, exchange rates and trade patterns. There may even be limits on how far a central bank like the Fed might go in normalizing policy or raising interest rates if major partners like the ECB aren&#8217;t moving in the same direction.



It is still early in the transition from the pandemic, but differences are already emerging.



“The key challenge is to ensure that we do not overreact to transitory supply shocks,” ECB President Christine Lagarde said at her bank&#8217;s premier research conference on Tuesday, and policy “must remain focused on steering the economy safely out of the pandemic emergency&#8221; rather than squelching any short-term increase in prices.



Like the ECB, the Fed is also banking on inflation easing largely on its own. But discussion of the risks has become more prominent, and in projections last week virtually all Fed officials said it was more likely inflation would run hotter than expected than otherwise.



Even as Lagarde spoke, Fed Chair Jerome Powell testified to the U.S. Congress about &#8220;bottlenecks, hiring difficulties, and other constraints&#8221; that have led the Fed to project inflation this year at 4.2%, twice the official target, and may make it more persistent.



<h2 class="wp-block-heading" id="h-cost-of-living-crisis">COST-OF-LIVING CRISIS?</h2>



The potential problems are manifold. The pandemic still rages, and while businesses and consumers have adapted to a large degree, it still shapes who is showing up for work, what goods and services get produced, and how fast those goods are moved around the planet and how smoothly those services are delivered.



Workers are moving back into jobs, but more slowly in many places than anticipated. The supply shocks that began with the first coronavirus shutdowns in 2020 continue to reverberate, whether in the form of fuel shortages in the UK, German auto plants waiting for computer chips, U.S. factories lacking industrial goods, backlogged shipping routes, or rising prices.



The Fed last week said it was nearing its first steps to wind down the emergency bond buying launched in March of 2020, and half of U.S. policymakers at their most recent meeting now say interest rates may need to increase next year.



For the Bank of England, the tipping point may already be in view, with markets expecting a rate increase no later than February, and yearly price increases of 4% beginning to show in public opinion.



&#8220;Talk of a &#8216;cost of living&#8217; crisis is gaining traction &#8230; and the public may be looking at the BoE to lean against inflation risks coming out of the pandemic,&#8221; Deutsche Bank economist Sanjay Raja wrote in a note to clients on Friday.



Japan&#8217;s core consumer inflation index, by contrast, remained flat in August, indicating that country&#8217;s decades-long battle with weak prices continues. Wholesale prices are rising, pushed by global commodities inflation, but growth is weak and Bank of Japan policy expected to remain loose.



The ECB has downplayed any post-pandemic policy shift.



Bondbuying through its Pandemic Emergency Purchase Programme will decline under the legislation that authorized it. But the bank is expected to expand other programs to partly compensate, with Lagarde arguing inflation remaining below the 2% target is a bigger risk than prices soaring persistently above it.



Looking back on the last decade it&#8217;s a natural concern.



By 2012 all the major central banks had fixed 2% as their preferred inflation target, then proceeded to persistently run short of it through a decade of sluggish growth.



The policy bias is now to err on the other side &#8211; and to hope the world cooperates.

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Central banks parse inflation risk as turn from pandemic policy begins

By Elaine Lies
TOKYO, July 20 (Reuters) &#8211; The first major test of how an Olympics can be held in the midst of a pandemic may well come this week in the men&#8217;s soccer tournament when Japan face a South Africa side that could struggle to field 11 players due to the novel coronavirus.
South Africa&#8217;s squad was severely depleted by COVID-19 infections and withdrawals before they left for the Games and was then hit with the news that two players and a video analyst had tested positive on arrival in Tokyo.
Organisers said late on Monday that 21 members of the delegation were close contacts, leaving South Africa walking a tightrope ahead of Thursday&#8217;s match against the hosts.
The Olympic playbook on coronavirus prevention measures mandates that to compete a close contact must return daily negative PCR tests, including one within six hours of competition.
They must also undergo a health check by an expert and receive permission from their international sporting federation.
FIFA regulations stipulate a team must have 13 available players for a match to go ahead and South Africa coach David Notoane said the daily testing means he has no idea who will be able to take the field to face the Japanese.
&#8220;You are not even sure who will be eligible for your (starting) 11 because of the situation we are in, testing every day,&#8221; he told reporters about the team, who returned to training on Monday after a week off the pitch.
&#8220;Their (Japan&#8217;s) physical readiness compared to us will be a key issue. It will make a huge difference. We basically lost seven days and that is hard to recover from.&#8221;
There have been 58 positive cases of Olympics-linked athletes, staff or officials recorded in Japan this month.
On Monday, a Czech beach volleyball player tested positive at the Olympic Village while an alternate for the U.S. women&#8217;s gymnastics team tested positive at the site of their pre-Games training camp just outside Tokyo.
(Reporting by Elaine Lies; Editing by Peter Rutherford )
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Olympics-Soccer-First stress test of ‘COVID Games’ may come when Japan play South Africa

* World&#8217;s biggest investor rejected 10% of directors
* Diversity concerns the biggest driver of U.S. votes
* Executive compensation a key concern in Europe
By Ross Kerber and Simon Jessop
BOSTON/LONDON, July 20 (Reuters) &#8211; Top asset manager BlackRock said on Tuesday it voted against 10% of company directors this year, up from 8.5% last year, as part of a more muscular approach to corporate governance.
BlackRock gave the breakdown in its quarterly stewardship report, citing issues like a lack of boardroom diversity or director independence.
The New York-based company also confirmed it did not support management on 35% of shareholder resolutions this year, about twice its rate in 2020, and did not support management on nearly two-thirds of environmental proposals, up from 11% the previous year. That helped drive support for climate and social issues to new heights at springtime shareholder meetings.
The figures show a new and more critical process by the company&#8217;s stewardship chief, Sandy Boss. She took over last year as the COVID-19 pandemic shut down economies worldwide and clients focused on issues like inequality and the environment.
&#8220;We’ve made adjustments in our approach,&#8221; Boss said in an interview, noting that executives are often more responsive as they factor in the costs of climate change.
&#8220;It’s like any financial situation, once you see something big looming, finance tends to present-value it forward,&#8221; Boss said.
BlackRock, the influential manager of more than $9 trillion, said it voted on more than 64,000 director elections in the 12 months ended June 30 and cast 6,550 critical votes.
In Asia, BlackRock said many independent directors have served &#8220;an excessive period,&#8221; while in the United States a lack of boardroom gender diversity often brought its disapproval.
In Europe, the Middle East and Africa, compensation most often drove critical board votes. BlackRock also said it voted against 33% of executive pay proposals in that region, up from 26% in 2020, often related to &#8220;in-flight adjustments&#8221; to boost executive pay even if they missed performance targets.
Its support for U.S. &#8220;Say on Pay&#8221; votes, in which shareholders weigh in on executive pay, remained at 95% for 2021, BlackRock said. (Reporting by Ross Kerber; Editing by Dan Grebler)
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BlackRock: Lack of diversity, independence drove critical board votes

July 19 (Reuters) &#8211; Left-arm wrist spinner Tabraiz Shamsi took four wickets as South Africa eased to a comfortable 33-run victory over Ireland in their first ever Twenty20 International meeting played at Malahide on Monday.
After being sent in to bat, South Africa posted 165 for seven in their 20 overs, losing their way after a fast start with Aidan Markram (39 from 30 balls) the top-scorer as a number of batsmen got starts but failed to go on and get a big score.
Seamer Mark Adair (3-39) was the pick of the home bowlers with his changes of pace, while off-spinner Simi Singh (2-19) again impressed with his accuracy and variations.
Opener Paul Stirling hit left-arm spinner George Linde (2-26) for a six in the first ball of the Ireland innings, but was out the next delivery and the home side battled from that moment on.
Only captain Andy Balbirnie (22), Harry Tector (36) and Barry McCarthy (30 not out) made significant scores as they finished on 132 for nine in their 20 overs.
Shamsi, who is the number one ranked bowler in the format, bamboozled the hosts as he turned the ball both ways and collected figures of 4-27.
The second match in the three-game series will be played in Belfast on Thursday. (Reporting by Nick Said Editing by Christian Radnedge)
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Cricket-Shamsi puts Ireland in a spin as S Africa win first Twenty20

Jul 19 (OPTA) &#8211; Scoreboard at close of play of 1st t20i between Ireland and South Africa on Monday at Dublin, Ireland South Africa win by 33 runs South Africa 1st innings Temba Bavuma c Lorcan Tucker b Simi Singh 13 Quinton de Kock c Paul Stirling b Mark Adair 20 Janneman Malan c Simi Singh b Mark Adair 4 Aiden Markram st Lorcan Tucker b Simi Singh 39 Rassie van der Dussen c Andrew Balbirnie b Joshua Little 25 David Miller c Lorcan Tucker b Joshua Little 28 George Linde c Simi Singh b Mark Adair 10 Kagiso Rabada Not Out 19 Lizaad Williams Not Out 2 Extras 0b 2lb 0nb 0pen 3w 5 Total (20.0 overs) 165-7 Fall of Wickets : 1-31 de Kock, 2-37 Malan, 3-44 Bavuma, 4-79 van der Dussen, 5-115 Markram, 6-143 Linde, 7-144 Miller Did Not Bat : Ngidi, Shamsi Bowling Ov Md Rn Wk Econ Ex Paul Stirling 3 0 29 0 9.67 1w Barry McCarthy 3 0 31 0 10.33 Mark Adair 4 0 39 3 9.75 1w Simi Singh 4 0 19 2 4.75 Joshua Little 4 0 27 2 6.75 1w George Dockrell 2 0 18 0 9.00 &#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230; Ireland 1st innings Paul Stirling b George Linde 6 Kevin O&#8217;Brien c&amp;b Kagiso Rabada 0 Andrew Balbirnie c Quinton de Kock b Lungi Ngidi 22 George Dockrell c Quinton de Kock b Lungi Ngidi 2 Harry Tector st Quinton de Kock b Tabraiz Shamsi 36 Simi Singh b Tabraiz Shamsi 4 Lorcan Tucker b George Linde 5 Shane Getkate b Tabraiz Shamsi 2 Mark Adair c George Linde b Tabraiz Shamsi 0 Barry McCarthy Not Out 30 Joshua Little Not Out 15 Extras 0b 2lb 0nb 0pen 8w 10 Total (20.0 overs) 132-9 Fall of Wickets : 1-6 Stirling, 2-7 O&#8217;Brien, 3-23 Dockrell, 4-34 Balbirnie, 5-46 Singh, 6-63 Tucker, 7-70 Getkate, 8-70 Adair, 9-88 Tector Bowling Ov Md Rn Wk Econ Ex George Linde 4 0 26 2 6.50 1w Kagiso Rabada 4 0 28 1 7.00 1w Lungi Ngidi 4 0 18 2 4.50 1w Lizaad Williams 4 0 31 0 7.75 1w Tabraiz Shamsi 4 0 27 4 6.75 3w &#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230;&#8230; Umpire Alan Neill Umpire Mark Hawthorne Video Paul Reynolds Match Referee Kevin Gallagher 
(c) Copyright Opta Sports Data 2021. All Rights Reserved
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South Africa in Ireland 2021 Scoreboard

By Nick Said
CAPE TOWN, July 19 (Reuters) &#8211; South Africa’s soccer team coach David Notoane said his side were caught in the eye of a coronavirus storm and likened their situation to waiting for a guillotine to fall ahead of their Tokyo Olympic Games opener against hosts Japan on Thursday.
The squad was severely depleted by COVID-19 infections and withdrawals before they left South Africa, and has now faced further setbacks after players Thabiso Monyane and Kamohelo Mahlatsi, along with video analyst Mario Masha, tested positive for the virus on arrival in Tokyo.
Notoane is now fearful that that daily testing at the Games could rob him of more players before their opener as more potentially come out of the incubation phase of the virus.
&#8220;We are there on the guillotine at the moment and we have to find a way to escape it,&#8221; he told reporters on Monday. &#8220;You are not even sure who will be eligible for your (starting) 11 because of the situation we are in, testing every day.
&#8220;Our key player (Mahlatsi) tested positive, we were building our game-plan around him. Our job has become more difficult. But at the end of the day we have to put up a team on Thursday to face up to the might of Japan.&#8221;
Notoane said it was inevitable that South Africa&#8217;s COVID-19 challenges will catch up with them in what is already a difficult pool that also contains France and Mexico.
&#8220;This storm can just swallow you, that is the fight we are going to have in terms of the off-field influences. Our biggest opponent is not Japan to be honest, it’s the outside factors that are playing out.
&#8220;Because it has become about more than football. Physically, we are at a huge disadvantage against a team that is highly athletic.&#8221;
Notoane rued the fact that his side, who returned to training on Monday after a week without being on the pitch, will limp into a contest that will have the eyes of the watching world fixed on it.
&#8220;Their (Japan&#8217;s) physical readiness compared to us will be a key issue. It will make a huge difference. We basically lost seven days and that is hard to recover from.
&#8220;I hope we will give a good fight because, apart from winning, the spirit of the Olympics is about coming together to participate and give your best performance in representing your country.&#8221; (Reporting by Nick Said; Editing by Ken Ferris)
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Olympics-Soccer-S.Africa coach fearful of what awaits his team in COVID ‘storm’

PARIS, July 19 (Reuters) &#8211; Travellers about to board a train from Paris to London on the day quarantine rules in Britain were due to lapse were upset on Monday by a last-minute decision to keep them, calling it &#8220;ridiculous,&#8221; &#8220;cruel&#8221; and &#8220;incoherent.&#8221;
Anyone arriving from France will have to quarantine at home or in other accommodation for five to 10 days, the government said on Friday, even if they are fully vaccinated against COVID-19.
The fact that England scrapped most coronavirus restrictions on Monday made it even more bitter for those about to check in on the Eurostar at Paris&#8217; Gare du Nord station.
&#8220;It&#8217;s incoherent and &#8230; frustrating,&#8221; said Vivien Saulais, a 30-year-old Frenchman on his way back to Britain, where he lives, after visiting his family.
&#8220;I am forced to do a 10-day quarantine while the British government lifts all the restrictions and is going for a policy of herd immunity.&#8221;
Britain is reporting many more COVID-19 cases than France due to the spread of the Delta variant, first identified in India, but has few cases of the Beta variant, first identified in South Africa. The government said it was keeping quarantine rules for travellers from France because of the presence of the Beta variant there.
Britain has the seventh highest COVID-19 death toll in the world, 128,708, and is forecast to soon have more new infections each day than it did at the height of a second wave of the virus earlier this year. On Sunday there were 48,161 new cases.
But, outstripping European peers, 87% of Britain&#8217;s adult population has had one vaccination dose and more than 68% have had two doses. Deaths, at around 40 per day, are a fraction of a peak of above 1,800 in January.
&#8220;It&#8217;s totally ridiculous because the Beta variant in France is so low,&#8221; said Francis Beart, a 70-year-old Briton who had travelled to France to see his partner but had cut short his visit to allow time for quarantine. &#8220;It&#8217;s a bit cruel.&#8221;
French authorities have said the bulk of cases of the Beta variant come from the overseas territories of La Reunion and Mayotte, rather than mainland France, where it is not widespread.
&#8220;We don&#8217;t think the United Kingdom&#8217;s decisions are totally based on scientific foundations. We find them excessive,&#8221; France&#8217;s junior European affairs minister Clement Beaune told BFM TV.
(Reporting by Emilie Delwarde, additional reporting by Sudip Kar-Gupta, John Irish Writing by Ingrid Melander; Editing by Janet Lawrence)
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‘Ridiculous’, travellers dismayed by UK quarantine measures for France

MONROVIA, July 19 (Reuters) &#8211; As many as 17 people were missing from a cargo ship that sank off the coast of Liberia over the weekend despite being barred from setting sail, the Maritime Commissioner said.
The Liberian-registered Niko Ivanka left the capital Monrovia on Saturday for a port in the West African country&#8217;s south, despite being under a detention order for failing to meet basic safety requirements.
The vessel sent out a distress signal that afternoon, notifying the coastguard that it had taken on water. By the time authorities arrived, it had already partially sunk.
Eighteen people were on the ship&#8217;s manifest, 11 of whom had been rescued during a 36-hour search, commissioner Eugene Nagbe told reporters on Monday.
But those rescued said that there were in fact about 28 people on board, leaving 17 missing.
&#8220;For now, our concern is a search and rescue mission,&#8221; Nagbe said. &#8220;My focus is the lives of those people missing.&#8221;
The precise number of passengers remained unknown, Deputy Information Minister Jarlaywah Tonpoe told Reuters earlier.
&#8220;The vessel was not a passenger-authorised vessel and yet it had passengers on board,&#8221; Tonpoe said. &#8220;So in the coming days, investigation will establish how many people were on board.&#8221;
It was not clear how or why the ship was able to leave harbour or whether it was carrying any cargo at the time. The vessel&#8217;s owner, a Chinese national, was arrested on Sunday afternoon, Nagbe said.
Among those listed on the manifest were a Swedish captain, a Chinese crew member, and nine members of West Africa&#8217;s regional school examinations body. (Reporting By Alphonso Toweh Writing by Edward McAllister Editing by Nick Macfie)
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As many as 17 missing after cargo ship sinks off Liberia

ABUJA, July 19 (Reuters) &#8211; Nigeria&#8217;s broadcasting regulator has asked TV stations to curb their reporting of insecurity in the country by withholding details of incidents and victims, in what a leading civil society group described as a &#8220;sweeping gag order&#8221;.
Africa&#8217;s most populous nation is facing multiple security crises, with the northeast in the grip of a decade-long Islamist insurgency, the northwest hit by a wave of mass abductions of schoolchildren, and kidnappings for ransom rife in many states.
Some experts say the surge in criminality is partly driven by economic hardship caused by the COVID-19 shock in 2020, while the World Bank has said the increase in conflict and insecurity was a drag on growth and job creation.
In a letter to &#8220;all stations&#8221;, seen by Reuters on Monday, the National Broadcasting Commission (NBC) said broadcasters should &#8220;collaborate with government in dealing with the security challenges&#8221; by toning down reporting and commentary.
They should do this by &#8220;not giving details of either the security issues or victims of these security challenges&#8221; and by &#8220;advising guests and/or analysts on programmes not to polarise the citizenry with divisive rhetoric&#8221;, the letter said.
The civil society group Socio-Economic Rights and Accountability Project (SERAP) called on President Muhammadu Buhari to instruct the NBC to withdraw the document.
SERAP said reporting on the growing violence was in the public interest, and the regulator&#8217;s instructions would have a chilling effect.
Buhari&#8217;s two spokesmen declined to comment on the matter, while the NBC did not respond to requests for comment.
Buhari, a military ruler in the 1980s who returned to power as an elected civilian in 2015, has been accused of an assault on freedom of speech over his government&#8217;s decision in June to ban Twitter in Nigeria after the platform removed one of his posts. (Reporting by Felix Onuah and Camillus Eboh in Abuja and Estelle Shirbon in London; Editing by Alex Richardson)
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Nigerian regulator tells TV stations to curb reporting on violence

By Dawit Endeshaw
ADDIS ABABA July 19 (Reuters) &#8211; Forces from Ethiopia&#8217;s northern Tigray region have mounted attacks in neighbouring Afar region, a spokesman for Afar said on Monday, marking an expansion of an eight-month-old conflict into a previously untouched area.
Tigrayan fighters crossed into Afar on Saturday and Afar forces and allied militias were still fighting them on Monday, Afar spokesman Ahmed Koloyta said.
&#8220;Now (Ethiopian military forces) are on their way and we will work with them to eliminate (the Tigrayan forces),&#8221; he said.
Getachew Reda, a spokesman for the Tigrayan forces, confirmed they had been fighting over the weekend in Afar.
&#8220;We are not interested in any territorial gains in Afar, we are more interested in degrading enemy fighting capabilities,&#8221; he said via satellite phone.
He said that Tigrayan forces had repelled militias from Ethiopia&#8217;s Oromiya region who had been sent to fight alongside THE Afar regional forces.
Reuters could not independently confirm his account.
A military spokesman and offficials in Prime Minister Abiy Ahmed&#8217;s office and a government taskforce on Tigray did not immediately respond to requests for comment.
Thousands of people have died in the Tigray conflict so far. About 2 million people have been forced to flee their homes and more than 5 million are relying on emergency food aid.
Ethiopia has a federal system with 10 regions and in the past week the conflict in Tigray has drawn in regional forces around the country as they deploy to support the federal military.
Fighting erupted in November between the region&#8217;s ruling Tigray People&#8217;s Liberation Front (TPLF) and the military. Three weeks later, the government declared victory when it seized the regional capital Mekelle, but the TPLF kept fighting.
At the end of June, the TPLF retook Mekelle and most of Tigray after the government withdrew soldiers and declared a unilateral ceasefire.
The spillover of the war into another part of Africa&#8217;s second most populous nation may pile more pressure on Abiy.
He won the 2019 Nobel Peace Prize but is facing international criticism over the conflict amid reports of atrocities committed by federal forces and troops from neighbouring Eritrea who have fought alongside them. His government says it is investigating such reports.
The TPLF dominated Ethiopia for decades as the strongest force in a multi-ethnic coalition, until Abiy took power two years ago. They say they were forced into conflict after attempts to mediate with Abiy and ensure their region&#8217;s autonomy in line with the constitution broke down.
The government designated the TPLF a terrorist organization in May.
AID CONVOY ATTACKED
TPLF leaders have said they will keep fighting until they regain control of disputed territory in the south and west of Tigray, which was seized during the fighting by the government&#8217;s allies from Amhara region.
On Sunday, Abiy said the Ethiopian military was prepared to defeat Tigrayan forces.
Forces from Amhara region, which has a border dispute with Tigray, have been supporting the military since the beginning of the conflict. On Friday, three other regions said that they were sending forces to support the army.
On Sunday, the Somali region said it was also sending troops, as did Benishangul-Gumuz region on Monday. Gambella and Harari regions have also said they were sending troops, state-run Ethiopia Broadcasting Corporation reported.
Afar is strategically important because the road and railway linking the capital Addis Ababa to the sea port of Djibouti run through it. Djibouti is landlocked Ethiopia&#8217;s main access to the sea.
Over the weekend, the head of the TPLF said that Tigrayan forces had released around 1,000 government soldiers captured during recent fighting.
The International Committee of the Red Cross said on Sunday it had begun visiting soldiers being detained in Tigray.
The United Nations&#8217; World Food Programme on Monday said its convoy of nine trucks were attacked on Sunday morning while moving aid into Tigray.
The convoy was attacked 115 km ( 70 miles) from the town of Semera in Afar, the agency said. WFP has suspended movement of all convoys from Semera until security can be assured.
(Additional reporting and writing by Maggie Fick in Nairobi; editing by Katharine Houreld and Angus MacSwan)
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Ethiopia’s Tigray forces enter neighbouring Afar region, Afar says

RABAT, July 19 (Reuters) &#8211; Morocco&#8217;s economic growth is expected to slow to 2.9% in 2022 from a forecast 5.8% this year, the planning agency said on Monday.
The forecasts signal a recovery in domestic and foreign demand but remain shrouded in uncertainty given developments in the COVID-19 pandemic and vaccination efforts, the agency said in a report.
Morocco has Africa&#8217;s largest vaccinated population, administering near 20 million doses of the AstraZeneca and Sinopharm vaccines so far.
Last year, Morocco&#8217;s GDP contracted 6.3% under the combined impact of the pandemic and drought.
The fiscal deficit was seen narrowing to 6% in 2022 from 6.3% this year due to a surge in government spending to help productive sectors and reduce disparities.
Spurring growth hinges on addressing unemployment, the informal economy and disparities, planning agency head Ahmed Lahlimi said.
The trade deficit is expected to widen to 16.8% in 2022 from 15.9% this year.
Given the bonds Morocco may issue and the steady flow of remittances from Moroccans abroad, which offset the drop in tourism, Morocco&#8217;s foreign exchange reserves are expected to stand at 311 billion dirhams ($34.7 billion), enough to cover six months and 9 days of imports.
Money supply growth would slow to 4% in 2022 after 5.7% in 2021, the agency said.
(Reporting by Ahmed Eljechtimi, Editing by William Maclean)
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Morocco economic growth to slow to 2.9% in 2022 – planning agency

* Rand volatility nears 3-mth highs
* Baidu, Alibaba and Tencent fall on new regulatory woes
* Oil weakness hits Russian rouble
By Ambar Warrick
July 19 (Reuters) &#8211; Emerging market stocks and currencies tumbled on Monday as investors rushed to safe havens on rising COVID-19 cases around the globe, while fears of stricter regulations weighed on major Chinese technology stocks.
MSCI&#8217;s index of emerging market (EM) currencies dropped 0.4% and was headed for its worst day in a month, with Turkey&#8217;s lira and the South African rand leading losses across Europe, the Middle East and Africa (EMEA). Both currencies fell about 0.7%.
Losses in heavyweight Chinese technology stocks dragged MSCI&#8217;s EM stock index 1.3% lower. Most bourses in EMEA fell between 0.6% and 1.2%.
Alibaba and Tencent, two of the top three stocks on the MSCI index, fell about 3% and 2.5%, respectively.
A Shanghai court at the weekend posted a list of &#8220;typical unfair competition cases&#8221; involving several major Chinese tech companies, including Alibaba, Tencent, and search engine Baidu which dropped 3.8%.
But rising virus cases, particularly of the highly infectious Delta variant, cast a pall over most risk-driven assets, and encouraged flows into safe havens such as the dollar and the Japanese yen.
&#8220;Increasing nerves about the delta-variant COVID-19 are sapping recovery hopes across the Asia-Pacific&#8230; you can choose your poison on that front globally, with the U.S., Europe, and the UK also experiencing rises in cases,&#8221; Jeffrey Halley , Senior Market Analyst, Asia Pacific, at OANDA, wrote in a note.
South Africa&#8217;s rand fell 0.7% after wild swings over the past few sessions, as the weak risk appetite exacerbated concerns over civil violence in the country.
One-month dollar options on the rand, a common gauge of volatility, hovered just below three-month highs.

Turkey&#8217;s lira was set to snap a six-day winning streak. The currency has been among the top performing EM units over the past few weeks with a yield of 19% &#8211; the highest in the world &#8211; and the prospect of near-term stable monetary policy attracting investors.
Minutes of the central bank&#8217;s meeting last week will be scrutinised for further affirmation of steady policy.
Turkish markets will be closed for the rest of the week.
Russia&#8217;s rouble fell 0.4%, tracking a drop in oil prices after OPEC+ reached a deal to increase supply. Fears of waning demand, due to a rise in virus cases, have also rattled oil markets in recent weeks.
Central European currencies retreated against the euro and the dollar.
For GRAPHIC on emerging market FX performance in 2021, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see https://tmsnrt.rs/2OusNdX

For TOP NEWS across emerging markets
For CENTRAL EUROPE market report, see
For TURKISH market report, see
For RUSSIAN market report, see
(Reporting by Ambar Warrick; Editing by Kirsten Donovan)
(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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