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Highlights Special of the 2023 Intra Africa Trade Fair

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
African Union Member States (55) reporting COVID-19 cases (4,812,313), deaths (130,025) and recoveries (4,351,816) by region: Central (172,873 cases; 2,781 deaths; 159,001 recoveries): Burundi (4,650; 6; 4,198), Cameroon (77,982; 1,270; 72,926), CAR (7,085; 97; 6,665), Chad (4,927; 173; 4,742), Congo (11,658; 153; 10,591), DRC (31,386; 782; 27,654), Equatorial Guinea (8,476; 113; 8,146), Gabon (24,365; 150; 21,791), Sao Tome and Principe (2,344; 37; 2,288) Eastern (647,406; 12,678; 536,199): Comoros (3,949; 146; 3,719), Djibouti (11,523; 153; 11,354), Eritrea (4,022; 14; 3,812), Ethiopia (270,944; 4,139; 235,850), Kenya (170,041; 3,124; 116,018), Madagascar (41,184; 828; 40,028), Mauritius (1,356; 17; 1,181), Rwanda (26,878; 352; 25,542), Seychelles (11,145; 40; 9,936), Somalia (14,647; 768; 6,717), South Sudan (10,688; 115; 10,514), Sudan (35,289; 2,600; 27,949), Tanzania** (509; 21; 178), Uganda (45,231; 361; 43,401) Northern (1,453,109; 43,808; 1,276,107): Algeria (128,198; 3,586; 89,292), Egypt (259,540; 14,950; 190,254), Libya (184,815; 3,116; 171,279), Mauritania (19,407; 462; 18,377), Morocco (518,458; 9,135; 506,443), Sahrawi Arab Democratic Republic (739; 46; 691), Tunisia (341,952; 12,513; 299,771) Southern (2,066,519; 64,531; 1,933,721): Angola (33,607; 745; 27,529), Botswana (56,313; 831; 50,494), Eswatini (18,587; 672; 17,855), Lesotho (10,825; 326; 6,434), Malawi (34,323; 1,154; 32,598), Mozambique (70,697; 835; 69,232), Namibia (54,268; 807; 50,053), South Africa (1,654,551; 56,293; 1,551,520), Zambia (94,430; 1,275; 91,443), Zimbabwe (38,918; 1,593; 36,563) Western (472,406; 6,227; 446,788): Benin (8,058; 101; 7,893), Burkina Faso (13,424; 166; 13,248), Cabo Verde (30,122; 261; 28,163), Côte d&#39;Ivoire (47,195; 301; 46,591), Gambia (5,990; 178; 5,767), Ghana (93,775; 784; 91,853), Guinea (23,110; 161; 20,840), Guinea Bissau (3,760; 68; 3,511), Liberia (2,179; 86; 2,033), Mali (14,262; 516; 9,559), Niger (5,409; 192; 5,080), Nigeria (166,254; 2,071; 156,546), Senegal (41,296; 1,138; 39,932), Sierra Leone (4,140; 79; 3,128), Togo (13,432; 125; 12,644)Distributed by APO Group on behalf of Africa Centres for Disease Control and Prevention (Africa CDC).
Media files

Coronavirus: African Union Member States reporting COVID-19 cases as of 29 May 2021, 9 am EAT

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
UN Headquarters will observe the International Day of United Nations Peacekeepers on Thursday, 27 May 2021. Secretary-General António Guterres will lay a wreath to honour the more than 4,000 UN peacekeepers who have lost their lives since 1948 and will preside over a ceremony at which the Dag Hammarskjöld Medal will be awarded posthumously to 129 military, police and civilian peacekeepers, who lost their life serving under the UN flag last year and in the first month of this year.

Among the fallen peacekeepers to be honoured are five from Egypt:  Sgt Ahmed Mohsen,  
Cpl Islam Mahmoud Ismail, Pvt Mohammed Elamir, Sgt Ahmed Mahmoud Rizk who served with the United Nations Multidimensional Integrated Stabilization Mission in Mali (MINUSMA); and Police WO Abdelwanis Rahoma who was with the United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA). 

Egypt is 7th largest contributor of uniformed personnel to UN Peacekeeping. It currently deploys nearly 3,100 military and police personnel to the UN peace operations in Abyei, the Central African Republic, the Democratic Republic of the Congo, Mali, Sudan, South Sudan and the Western Sahara.
At the ceremony, the Secretary-General will also award the ‘2020 Military Gender Advocate of the Year Award’ to Major Steplyne Buyaki Nyaboga a Kenyan military officer who served with the African Union – United Nations Hybrid Operation in Darfur, (UNAMID). Created in 2016, the Award “recognises the dedication and effort of an individual peacekeeper in promoting the principles of UN Security Resolution 1325 on women, peace and security.” 
In a message to mark the Day, the Secretary-General said of the fallen peacekeepers: “Their service and sacrifices will never be forgotten.”  He further said: “I express my deep gratitude to the 85,000 civilian, police and military personnel currently deployed in some of the world’s most challenging hotspots to protect the vulnerable and help to build peace. Despite the restrictions imposed by the pandemic, as well as the risk of infection, these men and women have pursued their mission while also supporting local authorities in the fight against COVID-19. I offer sincere condolences to the families of peacekeepers who have fallen victim to this terrible disease.”

The theme for this year’s observance is “The road to a lasting peace: Leveraging the power of youth for peace and security.” Tens of thousands of young peacekeepers deployed around the world play a key role in helping UN missions implement their mandated activities, with the active participation of young people from host communities.  Across our missions, peacekeepers collaborate with youth to reduce violence and sustain peace, including through DDR and Community violence reduction programmes.
 Jean-Pierre Lacroix, Under-Secretary-General for Peace Operations, said: “We salute the dedication and bravery of our peacekeepers, who serve and perform admirably in challenging environments only compounded by the ongoing pandemic. I also honor our young peacekeepers who bring energy and innovation, and serve as role models to youth populations working tirelessly to ensure meaningful representation and participation in political processes.” 
He added: “Our peacekeepers deserve our full support, and we must continue to work together to do all we can to improve their safety and security and give them the tools to succeed.” 

The International Day of United Nations Peacekeepers was established by the General Assembly in 2002, to pay tribute to all men and women serving in peacekeeping, and to honour the memory of those who have lost their lives in the cause of peace. The General Assembly designated 29 May as the International Day of UN Peacekeepers in commemoration of the day in 1948 when the UN’s first peacekeeping mission, the UN Truce Supervision Organization (UNTSO), began operations in Palestine.   

Since then, more than 1 million women and men have served in 72 UN peacekeeping operations, directly impacting millions of people, and saving countless lives. Today, UN Peacekeeping deploys more than 89,000 military, police and civilian personnel in 12 operations.
 Distributed by APO Group on behalf of UN Information Centre in Cairo.

UN Headquarters observes International Day of United Nations Peacekeepers on 27 May

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.

Today, climate activists marked Africa Day by staging protests at Total’s petrol stations. The protests took place in Benin, Togo, the Democratic Republic of Congo, Uganda, Kenya, Egypt, Ghana and Nigeria. The protests highlighted Total’s human rights violations, greenwashing strategies and climate inaction.

Total is involved in controversial projects across the continent, notably the East African Crude Oil Pipeline (EACOP) and the Mozambique Liquified Natural Gas (LNG) project that have witnessed displacement of local communities from their ancestral land as well as several human rights abuses other issues that have been called out by activists and frontline communities.

Vanessa Nakate, a Ugandan activist, said: “We cannot drink oil. This is why we cannot accept the construction of the East African Crude oil pipeline. It is going to cause massive displacement of people, destruction of ecosystems and wildlife habitats. We have no future in extraction of oil because it only means destroying the livelihoods of the people and the planet. It is time to choose people above pipelines. It is time to rise up for the people and the planet.”

Andre Moliro, DRC activist, said: “Total’s fossil fuel developments pose grave risks to protected environments, water sources and wetlands in the Great Lakes and East Africa regions. Communities have been raising concerns on the impact of oil extraction on Lake Albert fisheries and the disastrous consequences of an oil spill in Lake Victoria, that would affect millions of people that rely on the two lakes for their livelihoods, watersheds for drinking water and food production.”

Landry Ninteretse of 350.org said, &#8220;At a time when the international scientific community is telling us that the world cannot absorb any new fossil fuel developments if we are to tackle the climate crisis, Total is still pushing for the construction of highly controversial pipelines such as the East African Crude Oil Pipeline and the Mozambique LNG that threaten to destroy the livelihoods of tens of thousands of people, while affecting a great portion of diverse ecosystems and adding millions of tons of carbon emissions yearly.”

Earlier in the year, more than 260 African and international organisations sent an open letter (https://bit.ly/3fjfi0D) to 25 banks urging them not to finance the construction of the EACOP. Total issued statements on its website describing its environmental and social risk assessment and mitigation strategies for the EACOP and Tilenga oil extraction project as “rigorous” (https://bit.ly/2SrCUr6) and claiming to act “responsibly and transparently” (https://bit.ly/3wwNCuZ) on the social and environmental issues related to the projects.
The #StopEACOP Alliance went ahead to issue a statement (https://bit.ly/3vonX7Q) clarifying several misleading figures presented by Total such as the number of oil wells to be drilled within Murchison Falls National Park, and the number of project-affected people for Tilenga and EACOP.
Total seeks to position itself as a climate leader but chooses to ignore the massive climate risks posed by going ahead with its fossil fuel projects across Africa.
Distributed by APO Group on behalf of 350.org.
For interviews and additional information contact: 350Africa.org Christine Mbithi Email: christine.mbithi@350.org Telephone: +254725906695
Media files

Hundreds protest against TOTAL across Africa

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers and does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.
Zamalek point guard Walter Hodge set the tone on Monday when he scored nine of his 12 points in the opening quarter, sparking his team to a 97-64 win over Algeria’s GSP at Kigali Arena.

The 34-year-old was 4-for-4 from the floor including a three-pointer, giving the Egyptian outfit a 37-16 lead at the end of the first 10 minutes.

Hodge wasn’t the only Zamalek player who played with a sense of urgency. Moustafa Elmekawi led his team with 19 points and a game-high 11 rebounds, while Anas Mahmoud contributed 13 points and eight rebounds and Ahmed Abdellatef scored 11 points off the bench.

The former African champions’ quick start reflected Zamalek’s authority as it stretched its lead to as many as 35 points.

GSP played without its two leading scorers, Mohamed Harat and Abdellah Hamdini. They fought hard, even going on a 6-0 mini-run in the third quarter, but Zamalek didn’t panic. They remained in total control, leading from start to finish.

GSP was led by Algerian international player Seddik Touati, who finished with a game-high 20 points. Hichem Benayad-Cherif scored 10 points and Merouane Bourkaid added 11 points for the five-time defending Algerian champions.
Zamalek’s dominance was so evident that all 12 of their players played at least six minutes.
“I am happy for the win. We had only 18 turnovers today [after averaging 25.5 turnovers in the first two games]. That’s an improvement compared to our first two matches,” Elmekawi said in the post-game presser.

With the win, 3-0 Zamalek advanced to the BAL quarterfinals as winners of Group C.

Zamalek head coach Agust Julbe refused to highlight one single player’s performance, noting that, “We are a team. There will be one game that one player will take center stage, the next one could be another player, like Moustafa [Elmekawi]. Every player on this team will have his own opportunities. Of course, we have players with leading roles, but this is a team effort.”

“[Walter Hodge] is a key for us, he knows that. He had a good start, but it wasn’t just him. The whole team got the job done.”

Julbe acknowledged his team’s progress offensively but noted they have room for improvement on the defensive front.

“[Tonight] we had the worst defensive game in this tournament, considering that GSP missed two key players. We could have done better. But, in the end, it’s a success that we won three games, we moved on to the next stage, and, hopefully, we’ll keep winning games.”

What the numbers say:
Zamalek score its first two points in the opening six seconds of the game and it never looked back.
Outscoring its opponent 60-32 in the paint and in the fast-break (38-5) exemplified Zamalek’s sense of urgency in the game that eliminated GSP (0-3) from the BAL.
Boxscore (https://bit.ly/2QUhxyg) / www.theBal.com/schedule
Distributed by APO Group on behalf of National Basketball Association (NBA).

Hodge sets tone, Zamalek moves on to Quarterfinals at 3-0

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Nigeria plans to collaborate with Egypt to overhaul its power grid and distribution systems as part of the Presidential Power Initiative with German engineering company Siemens AG. Joining CNBC Africa to discuss this and other developments in Nigeria’s Power sector is Oti Ikomi, CEO and Executive Vice-Chairman of Proton Energy.

Nigeria to collaborate with Egypt on power reforms

CAIRO (Reuters) &#8211; Egypt signed a $2 billion conventional and Islamic loan with several international and regional banks in a deal coordinated by two UAE lenders, the finance ministry said on Monday.



Emirates NBD Capital and First Abu Dhabi Bank were joint coordinators and lead managers of the deal, the ministry said in a statement.



The loan aims at “financing the state budget and supporting the Egyptian economy in order to maintain its strong path in the face of fluctuations prevailing in global markets”, it added.



The loan was approved by parliament, the statement said.



A parliamentary document obtained by Reuters showed Egypt initialized the deal with Emirates NBD and FAD in July 20 to obtain a one-year, $2 billion loan in two tranches to close the gap in its 2020/21 budget wrought by the COVID-19 pandemic.



The first tranche is a conventional facility of $1.490 billion and the second an Islamic facility of $510 million, the document added.



“When they came to the market&#8230;on the back of COVID, the pricing was dislocated, the comparables were a bit on the high end. But they managed to convince the banks to commit to a tight level. And now&#8230;,it is in line with the market’s pricing,” a banking source said.

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Egypt signs $2 bln loan with regional, international banks -statement

CAIRO (Reuters) &#8211; Egypt’s General Authority for Supply Commodities (GASC) said on Saturday it was seeking soyoil and sunflower oil in an international tender with a deadline for offers on Tuesday.



GASC said it wants at least 30,000 tonnes of soyoil and 10,000 tonnes of sunflower oil, and is seeking the oil for arrival from Oct. 25-Nov. 20.



Traders should submit two separate price offers, one for at sight payment terms and another for a 180-day credit facility payment, GASC said.

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Egypt’s GASC issues tender for vegetable oils for Oct. 25-Nov. 20 arrival

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Egypt decided to withdraw from the latest round of tripartite negotiations with Ethiopia over its multi-billion-dollar dam on the Blue Nile for internal consultations. Mikael Arage, Political and Economic Analyst joins CNBC Africa for more.

Egypt withdraws from latest dam talks for internal consultations

CAIRO (Reuters) &#8211; Egypt’s annual urban consumer price inflation fell to 4.2% in July from 5.6% in June, the central statistics agency CAPMAS said on Monday.



Month on month inflation increased to 0.4% in July from 0.1% in June, the agency said.

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Egypt’s annual urban consumer price inflation fell to 4.2% in July – CAPMAS

CAIRO/LONDON/DUBAI (Reuters) &#8211; The threat of conflict in Libya, water security worries and a flatlining tourist sector risk upending a nascent rally in Egyptian bonds, bankers and economists say.



The North African country has attracted a wave of foreign investor interest in the past three months, emboldened by fresh financing from the International Monetary Fund (IMF), and short-term local debt offering yields of around 13%, among the highest in emerging markets.



Bankers and economists warn, however, that the yield bonanza masks an economy with weak prospects and heightened political risk, with the Cairo bourse falling on several days this month on fears of a Libya intervention. Parliament gave President Abdel-Fattah al-Sisi last week the green light for possible military intervention in Libya.



A deployment of armed forces into Libya could lead to higher military spending at a time when COVID-19 is already hitting the budget deficit.



&nbsp;&nbsp;&nbsp; “Obviously the IMF support package has reassured foreign investors and that is why there has been an improvement in flows, but the fundamentals are still weak,” said Zeina Rizk, executive fixed income director at Arqaam Capital.



“The virus is raging, tourism is down, and government spending – needed to boost the economy – will add further leverage,” she added.



Adding further uncertainty, Egypt has failed so far to reach a deal with Ethiopia to regulate flows from its Grand Renaissance Dam (GERD) which threatens its main water source.







&nbsp;&nbsp;&nbsp; “The political risk has deteriorated,” said Hasnain Malik, head of equity research at Tellimer Research.



&nbsp;&nbsp;&nbsp; The tourism industry, meanwhile, which makes up as much as 15% of GDP, is unlikely to recover soon, analysts said. Egypt, unlike Tunisia and Morocco, has not been added to the European Union’s list of safe COVID-19 countries.



Egypt’s reported COVID-19 cases have been falling in the past weeks but the number of new infections remains too high for now to lift the travel warning, diplomats said.



Tourist flights to Red Sea resorts have been rising since airports reopened on July 1, but normal occupancy rates would be only back by March or April next year, said Alaa Akel, head of the Egyptian Hotels Association Red Sea.



More than half of the hotels are back in business after two months of lockdown and those still closed will probably re-open by November, he added.



The central bank and state press centre did not respond to questions sent by Reuters.



The government expected growth of 3.5% in the fiscal year 2020/21, which began in July, but growth could slow to 2% if the coronavirus crisis continues until year-end, Planning Minister Hala al-Saeed said in May.



<h3 class="wp-block-heading">ECONOMIC FALLOUT</h3>



Sisi in March approved a 100 billion pound ($6 billion) plan to stem the economic fallout, including support for the tourism sector, payments of salaries for staff sent home by their employers and cash for informal workers.



With foreign reserves standing at $38 billion, Egypt’s finances are in much better shape than in 2011 after the toppling of Hosni Mubarak.



This is down from $45 billion from before the pandemic, but the central bank has been able to support the currency, which strengthened in July after a dip the month before, a gain that helped buyers of short-term debt make a profit, bankers say.



“We have been seeing significant flows back into Egypt,” said Farouk Soussa, senior Middle East and North Africa economist at Goldman Sachs. “The inflows have indeed been at the short end of the curve, reflecting higher short term yields and the potential for near-term strengthening in the pound, which make the carry trade the most lucrative in Egypt at the moment,” said Soussa.



He was referring to a strategy which involves investors borrowing in currencies where interest rates are low to invest in countries where yields are high.



Egypt’s international bonds have performed better than some other similarly rated emerging market sovereigns, such as El Salvador and Sri Lanka, since the March sell-off.



Egypt’s 2025, 2027 and 2040 issues are trading around 12% or less from pre-pandemic highs, Refinitiv data shows.



But analysts say the inflow of “hot money” — or investments made for short periods — does not translate into new jobs in the real economy and might disappear if the currency slips.



Barring its energy sector, Egypt had been struggling to attract foreign direct investment (FDI), a predicament blamed by analysts on bureaucracy and an expansion of army-owned firms in sectors from food production to cement.



“Increasing long term foreign direct investment further will require improvement in Doing Business indicators, maintaining a sound, predictable macroeconomic framework and political stability,” Raza Agha, head of emerging markets credit strategy, Legal &amp; General Investment Management.

AFSisi

Economic pitfalls risk cooling Egypt’s hot money inflows

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Ethiopia has announced the first-year target for filling the controversial Grand Ethiopian Renaissance dam on the River Nile has been reached. The announcement came as the country agreed to resume talks with Egypt and Sudan over the dam. CNBC Africa spoke to Political &#038; Economic Analyst, Mikael Arage for more.

Ethiopia says it has reached first-year target for Renaissance dam

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Eight candidates are going head-to-head for the top position at the World Trade Organization with nominations coming from the United Kingdom, Mexico, Moldova, Korea, Saudi Arabia, and three entries from Africa. Trudi Hartzenberg, Executive Director of the Trade Law Centre joins CNBC Africa to talk about the chances of the African candidates vying for the position.

Contenders begin race for WTO top job

CAIRO (Reuters) &#8211; Egypt’s Suez Canal revenues fell to $5.72 billion in the 2019/20 financial year from $5.75 billion in the year prior, the canal authority said on Saturday.



The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency.



Revenues fell by 9.6% year-on-year in May alone, due to the impact of the coronavirus on global trade movement, Osama Rabie, chairman of the canal authority said in June.

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Egypt’s Suez Canal revenues in FY 19/20 fall to $5.72 bln – statement

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Last week Sudan sent a letter to the UN Security Council asking them to discourage Ethiopia from filling their Renaissance Dam reservoir before coming to an agreement with the country and Egypt. This letter comes after the back and forth between Ethiopia and Egypt on the way forward for this almost $5 billion project. So how much are these disagreements costing? And what could the bill rack up to if it’s not sorted out soon? CNBC Africa spoke to Political Economic Analyst, Mikael Arage for more.

Assessing the economic & political impact of Ethiopia’s GERD dam

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Africa recorded its first case of COVID-19 exactly three months ago today, when Egypt recorded its index case on the 14th of February. So how have African leaders responded to the pandemic? Oulie Keita, Francophone West Africa Director at One Campaign joins CNBC Africa for more.

COVID-19 in Africa: How have African leaders responded to the pandemic?

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Egypt recently sent a letter to the United Nations Security Council protesting Ethiopia’s plan to start filling the reservoir of the controversial Grand Ethiopian Renaissance Dam. Analyst Mikael Arage spoke to CNBC Africa on this and the situation on COVID-19.

Egypt

Highlights Special of the 2023 Intra Africa Trade Fair

Coronavirus: African Union Member States reporting COVID-19 cases as of 29 May 2021, 9 am EAT

UN Headquarters observes International Day of United Nations Peacekeepers on 27 May

Hundreds protest against TOTAL across Africa

Hodge sets tone, Zamalek moves on to Quarterfinals at 3-0

Nigeria to collaborate with Egypt on power reforms

Egypt signs $2 bln loan with regional, international banks -statement

Egypt’s GASC issues tender for vegetable oils for Oct. 25-Nov. 20 arrival

Egypt withdraws from latest dam talks for internal consultations

Egypt’s annual urban consumer price inflation fell to 4.2% in July – CAPMAS

Economic pitfalls risk cooling Egypt’s hot money inflows

Ethiopia says it has reached first-year target for Renaissance dam

Contenders begin race for WTO top job

Egypt’s Suez Canal revenues in FY 19/20 fall to $5.72 bln – statement

Assessing the economic & political impact of Ethiopia’s GERD dam

COVID-19 in Africa: How have African leaders responded to the pandemic?

Egypt lodges complaint with the UN over Ethiopia’s Nile dam

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Advertise With Us

Egypt

Highlights Special of the 2023 Intra Africa Trade Fair

Coronavirus: African Union Member States reporting COVID-19 cases as of 29 May 2021, 9 am EAT

UN Headquarters observes International Day of United Nations Peacekeepers on 27 May

Hundreds protest against TOTAL across Africa

Hodge sets tone, Zamalek moves on to Quarterfinals at 3-0

Nigeria to collaborate with Egypt on power reforms

Egypt signs $2 bln loan with regional, international banks -statement

Egypt’s GASC issues tender for vegetable oils for Oct. 25-Nov. 20 arrival

Egypt withdraws from latest dam talks for internal consultations

Egypt’s annual urban consumer price inflation fell to 4.2% in July – CAPMAS

Economic pitfalls risk cooling Egypt’s hot money inflows

Ethiopia says it has reached first-year target for Renaissance dam

Contenders begin race for WTO top job

Egypt’s Suez Canal revenues in FY 19/20 fall to $5.72 bln – statement

Assessing the economic & political impact of Ethiopia’s GERD dam

COVID-19 in Africa: How have African leaders responded to the pandemic?

Egypt lodges complaint with the UN over Ethiopia’s Nile dam

News Tips

Advertise With Us

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