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<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/P64ABSGIEBNHJMWOUR3LEQZUCU-820x547.jpg" alt="" class="wp-image-416491" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/P64ABSGIEBNHJMWOUR3LEQZUCU-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/P64ABSGIEBNHJMWOUR3LEQZUCU-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/P64ABSGIEBNHJMWOUR3LEQZUCU-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/P64ABSGIEBNHJMWOUR3LEQZUCU-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/P64ABSGIEBNHJMWOUR3LEQZUCU-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/P64ABSGIEBNHJMWOUR3LEQZUCU-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: British Prime Minister Boris Johnson takes questions in Parliament, in London, Britain June 23, 2021. UK Parliament/Jessica Taylor/Handout via REUTERS</figcaption></figure>



DUNGENESS, England, April 14 (Reuters)&nbsp;&#8211;&nbsp;Britain could send tens of thousands of asylum seekers to Rwanda to be resettled under a new partnership, Prime Minister Boris Johnson said on Thursday as he outlined measures designed to tackle the problem of cross-Channel migration.



&#8220;We must ensure that the only route to asylum in the UK is a safe and legal one,&#8221; Johnson said in a speech on Thursday in Kent, southeast England, where thousands of migrants in small&nbsp;boats landed on Channel beaches last year.



&#8220;Those who try to jump the queue or abuse our systems will find no automatic path to set them up in our country, but rather be swiftly and humanely removed to a safe third country or their country of origin,&#8221; the Conservative prime minister said.



Anyone who had arrived in Britain illegally since Jan. 1 could now be relocated to Rwanda, in central Africa, which would disrupt the business model of people-smuggling gangs, he said.



&#8220;The deal we have done is unmapped and Rwanda will have the capacity to resettle tens of thousands of people in the years ahead,&#8221; he said.



<h3 class="wp-block-heading" id="h-read-more-uk-s-boris-johnson-in-leadership-crisis-accused-of-lying-about-industrial-scale-partying-during-covid-lockdowns">Read more: <a href="https://www.cnbcafrica.com/2022/uks-boris-johnson-in-leadership-crisis-accused-of-lying-about-industrial-scale-partying-during-covid-lockdowns/">UK’s Boris Johnson in leadership crisis, accused of lying about ‘industrial scale partying’ during Covid lockdowns</a></h3>



The plan drew swift and strong criticism from opposition parties, with interior minister Priti Patel&#8217;s Labour party counterpart, Yvette Cooper, saying it was &#8220;extortionate as well as unworkable and unethical&#8221;.



Johnson said he knew the plan would be criticised and would face legal challenges, but he promised to do whatever it took to deliver it.



The government said Britain would contribute an initial 120 million pounds ($157.55 million) to the partnership.



A government minister said the plan was focused on single young men. &#8220;This is about male economic migrants in the main,&#8221; Secretary of State for Wales Simon Hart told Sky News. &#8220;There is a different set of issues with women and children.&#8221;



Patel was in Kigali, Rwanda, on Thursday to sign the partnership agreement and presented it at a joint press conference with Rwandan Foreign Minister Vincent Biruta.



&#8220;When we were discussing this partnership, we assessed our capacity to receive migrants and we know that we have the capacity in a place to receive migrants but we are also investing in infrastructure going forward,&#8221; Biruta said.



<h2 class="wp-block-heading">DISTRACTION</h2>



Opposition lawmakers said Johnson was trying to distract from the renewed calls on him to resign after being fined by police on Tuesday for attending a gathering for his birthday in June 2020 when social mixing was all but banned under COVID-19 rules his government had introduced.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2WA2LC&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Last year, more than 28,000 migrants and refugees made the crossing from mainland Europe to Britain. The arrival of migrants on rickety boats has been a source of tension between France and Britain, especially after 27 migrants drowned when their dinghy deflated in November.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2SF51X&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;Before Christmas, 27 people drowned, and in the weeks ahead there may be many more losing their lives at sea, and whose bodies may never be recovered,&#8221; Johnson said.



&#8220;Around 600 came across the Channel yesterday. In just a few weeks this could again reach a thousand a day.&#8221;



In criticising the plan, the Labour party&#8217;s Cooper cited the cost of Australia&#8217;s policy of holding asylum-seekers in offshore camps, saying Australia Refugee Council figures showed it had cost the equivalent of 1.7 million pounds per person.



The head of a refugee advocacy group said the plan flew in the face of the principle of granting asylum seekers a fair hearing on British soil.



&#8220;I think it&#8217;s rather extraordinary that the government is obsessing with control instead of focusing on competence and compassion,&#8221; Enver Solomon, chief executive of the Refugee Council, told BBC radio.



($1 = 0.7617 pounds)



(Reporting by Michael Holden, Paul Sandle and Kylie MacLellan; Editing by Elaine Hardcastle, Catherine Evans and Tomasz Janowski)

British Prime Minister Boris Johnson takes questions in Parliament, in London

Britain reaches deal to resettle asylum seekers in Rwanda

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/08/106913464-1626783928878-gettyimages-1233680604-AVDjune7.jpeg" alt="" class="wp-image-410942" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/08/106913464-1626783928878-gettyimages-1233680604-AVDjune7.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/106913464-1626783928878-gettyimages-1233680604-AVDjune7-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/106913464-1626783928878-gettyimages-1233680604-AVDjune7-140x80.jpeg 140w" sizes="auto, (max-width: 740px) 100vw, 740px" /><figcaption>In this Photo illustration a World Health Organization(WHO) logo seen displayed on an Android phone.
Avishek Das | Getty Images</figcaption></figure>



DAKAR, April 14 (Reuters)&nbsp;&#8211;&nbsp;Africa is experiencing its longest-running decline in&nbsp;weekly&nbsp;COVID-19 infections since the&nbsp;start of&nbsp;the pandemic, the World Health Organization said on Thursday.



Recorded weekly cases have fallen for the past 16 weeks&nbsp;and deaths for the last eight,the latter dropping to 239 in the past week,&nbsp;it said&nbsp;in a statement.



The upcoming cold season in the southern hemisphere could prompt a new spike in cases, it said.



&#8220;With the virus still circulating, the risk of new and potentially more deadly variants emerging remains, and the pandemic control measures are pivotal to effective response to a surge in infections&#8221; said WHO Regional Director for Africa Matshidiso Moeti.



This is a developing story&#8230;



(Reporting by Nellie Peyton; Editing by Kirsten Donovan and John Stonestreet)

106913464-1626783928878-gettyimages-1233680604-AVDjune7

Africa COVID cases on longest run of declines since pandemic’s start -WHO

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="662" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/MPQ6F6Q53BNTZO5LPN4WBMJEAM-820x662.jpg" alt="" class="wp-image-416524" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/MPQ6F6Q53BNTZO5LPN4WBMJEAM-820x662.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/MPQ6F6Q53BNTZO5LPN4WBMJEAM-300x242.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/MPQ6F6Q53BNTZO5LPN4WBMJEAM-111x90.jpg 111w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/MPQ6F6Q53BNTZO5LPN4WBMJEAM-768x620.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/MPQ6F6Q53BNTZO5LPN4WBMJEAM.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>People walk past the head office of Standard Chartered bank in the City of London February 27, 2015. REUTERS/Eddie Keogh</figcaption></figure>



LONDON, April 14 (Reuters) &#8211; Standard Chartered STAN.L is leaving seven countries in Africa and the Middle East where it is sub-scale as it seeks to improve profits by narrowing its focus to faster-growing markets in the region, it said on Thursday.



The bank will fully exit Angola, Cameroon, Gambia, Jordan, Lebanon, Sierra Leone and Zimbabwe, likely by trying to sell its business in those markets.



It will also close its retail banking operations in Tanzania and Ivory Coast to focus solely on corporate banking.



The move marks a major shift for Standard Chartered, which has been among the biggest European lenders to invest in the continent in recent years at a time when peers have been withdrawing.



The cuts would allow it to focus on bigger and faster growing economies in the region, such as Saudi Arabia where it has opened its first branch, and Egypt.



Prior to the announcement, StanChart operated in 15 African markets and 10 in the Middle East, employing around 15,000 staff, a major presence that had made it &#8220;unique among global banks&#8221; in the region, according to Citi analyst Yafei Tian.



But the complexity of operating at that scale left the bank with a comparatively high cost to income ratio of 74%, which exiting sub-scale markets will help to improve, Tian said.



The markets being cut generated just 1% of total income in 2021 and a similar proportion of profit before tax, the bank said. StanChart is currently present in 59 markets overall and serves clients in a further 83.



It did not immediately comment on the number of job losses as a result of the cuts.



StanChart shares rose slightly on the announcement, up 0.6% against a flat FTSE 100 index&nbsp;.FTSE.



<h2 class="wp-block-heading" id="h-out-of-africa">OUT OF AFRICA</h2>



StanChart joins the ranks of other global players to reduce their presence in Africa in recent years as they struggle to reach scale compared with incumbent locals.



It has pursued a strategy of investing heavily in digital banking in Africa but found it hard to translate customer acquisition into steady profits.



Barclays&nbsp;BARC.L&nbsp;sold its African unit in 2016, ending its 90-year presence on the continent, while Credit Suisse pulled out of its wealth management business in nine African countries this year.



The economy in Sub-Saharan Africa, home to many of the poorest nations on earth, has contracted sharply during the pandemic and has struggled to recover compared with developed economies.



The International Monetary Fund predicted in October that the region&#8217;s economy would expand by 3.7%-3.8% this year and last &#8211; the slowest recovery relative to other regions around the globe.



Some lenders are still scaling up in Africa, with Deutsche Bank saying last year it will expand its private bank in the region.



(Reporting by Lawrence White; Editing by Jason Neely and Mike Harrison)

MPQ6F6Q53BNTZO5LPN4WBMJEAM

StanChart cuts seven minnow businesses in Africa and Middle East

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="512" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/2FIYK2X4Z5O7NGVUMOI3W4ADHU-820x512.jpg" alt="" class="wp-image-413229" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/2FIYK2X4Z5O7NGVUMOI3W4ADHU-820x512.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/2FIYK2X4Z5O7NGVUMOI3W4ADHU-300x187.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/2FIYK2X4Z5O7NGVUMOI3W4ADHU-144x90.jpg 144w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/2FIYK2X4Z5O7NGVUMOI3W4ADHU-768x479.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/2FIYK2X4Z5O7NGVUMOI3W4ADHU.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>
A child collecting chunks of coal looks on at a colliery while smoke rises from the Duvha coal-based power station owned by state power utility Eskom, in Emalahleni, in Mpumalanga province, South Africa, June 2, 2021. REUTERS/Siphiwe Sibeko</figcaption></figure>



JOHANNESBURG, April 14 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s state-owned logistics firm Transnet has declared force majeure and is seeking to terminate long-term coal transportation agreements, thermal coal producer and exporter Thungela Resources&nbsp;TGAJ.J&nbsp;said on Thursday.



Despite Thungela saying rail services and coal exports are continuing, and the development would not significantly impact its 2022 production forecast, its shares fell 6% by 1230 GMT, their biggest fall in a month.



Transnet did not immediately reply to a request for comment.



Large-scale theft of copper cables, insufficient maintenance, and a lack of locomotives have crippled Transnet&#8217;s freight rail network used by coal and iron ore miners to transport their minerals to port.



&#8220;Transnet believes that these circumstances will continue to detract from its ability to perform for at least the next six months and that accordingly Transnet is under force majeure,&#8221; Thungela said in a statement.



Triggering a force majeure clause in contracts allows certain terms of an otherwise legally binding agreement to be ignored because of unavoidable circumstances.



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Thungela said Transnet on April 8 notified coal exporters of force majeure and &#8220;expressed a desire&#8221; to terminate its long-term coal transportation agreements.



The coal exporters are engaging with Transnet to &#8220;clarify the contractual position&#8221; and ensure the stability of coal deliveries to take advantage of strong demand for South African coal, Thungela said.



&#8220;We are encouraged that Transnet has reaffirmed its commitment to existing material commercial terms,&#8221; Thungela CEO July Ndlovu said.



Coal producer Exxaro Resources last week said it had received &#8220;numerous&#8221; requests from European countries wanting to sign supply contracts, after the European Union proposed sanctions on Russian coal.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2W52HY&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Both Exxaro and Thungela have said Transnet&#8217;s issues constrain their ability to ramp up coal production to meet the new demand.



Last year, Transnet railways delivered 58.3 million tonnes of coal to the Richards Bay Coal Terminal on South Africa&#8217;s east coast, significantly undershooting its annual capacity of 77 million tonnes.



(Reporting by Helen Reid; editing by Robert Birsel, Elaine Hardcastle)

2FIYK2X4Z5O7NGVUMOI3W4ADHU

South Africa’s Transnet declares force majeure on coal contracts, Thungela 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/2022/04/107039802-16487420312019-08-29t053314z_127653384_rc1ff757dd70_rtrmadp_0_china-tech-820x547.jpeg" alt="" class="wp-image-416515" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/107039802-16487420312019-08-29t053314z_127653384_rc1ff757dd70_rtrmadp_0_china-tech-820x547.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/107039802-16487420312019-08-29t053314z_127653384_rc1ff757dd70_rtrmadp_0_china-tech-300x200.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/107039802-16487420312019-08-29t053314z_127653384_rc1ff757dd70_rtrmadp_0_china-tech-135x90.jpeg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/107039802-16487420312019-08-29t053314z_127653384_rc1ff757dd70_rtrmadp_0_china-tech-768x512.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/107039802-16487420312019-08-29t053314z_127653384_rc1ff757dd70_rtrmadp_0_china-tech-1536x1025.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/107039802-16487420312019-08-29t053314z_127653384_rc1ff757dd70_rtrmadp_0_china-tech-scaled.jpeg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019. Aly Song | Reuters</figcaption></figure>



Elon Musk offered to buy Twitter for $54.20 a share, saying the social media company needs to be transformed privately, a little over a week after first revealing a 9.2% stake in the company. Musk’s offer values Twitter at about $43 billion.



“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk wrote in a letter sent to Twitter Chairman Bret Taylor and disclosed in a securities filing.



According to Musk, the social media company needs to go private because it can “neither thrive nor serve” free speech in its current state.



“As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced,” he wrote. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.”



Twitter shares jumped 12% in premarket trading after closing at $45.85 a share on Wednesday.



“The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders,” the company said in a statement.



Musk first disclosed his stake in the social media giant on April 4. He later landed a seat on the company’s board of directors before reversing those plans.



The Tesla CEO has previously criticized the social media giant publicly, polling people on Twitter last month about whether the company abides by free speech principles. He also said he was considering building a new social media platform.



Shares of Twitter have seesawed in recent weeks amid the news from Musk, but are up 6% this year and 18.5% since the start of the month.



Tesla’s stock dipped 1% on the news.



This is a developing story&#8230;

107039802-16487420312019-08-29t053314z_127653384_rc1ff757dd70_rtrmadp_0_china-tech

Elon Musk offers to buy Twitter for $43 billion, so it can be ‘transformed as private company’

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="555" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-820x555.jpg" alt="" class="wp-image-413198" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-820x555.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-300x203.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-133x90.jpg 133w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-768x519.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-1536x1039.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>PARIS, FRANCE &#8211; DECEMBER 19: International Monetary Fund (IMF) Managing Director Kristalina Georgieva is welcomed by General secretary of the presidency Alexis Kohler as she arrives at the Elysee Presidential Palace prior to a meeting with French President Emmanuel Macron on December 19, 2019 in Paris, France. Kristalina Georgieva is the new Managing Director of the IMF, she took office on October 1, 2019. (Photo by Chesnot/Getty Images)</figcaption></figure>



Washington, DC:&nbsp;The Heads of the World Bank Group&nbsp;(WBG),&nbsp;International Monetary Fund (IMF), United Nations World Food Program (WFP), and World Trade Organization (WTO) today called for urgent action on food security. World Bank Group President David Malpass, IMF Managing Director Kristalina Georgieva, WFP Executive Director David Beasley and WTO Director General Ngozi Okonjo-Iweala issued the following joint statement ahead of the Spring Meetings of the IMF and World Bank Group next week:



“The world is shaken by compounding crises. The fallout of the war in Ukraine is adding to the ongoing COVID-19 pandemic that now enters its third year, while climate change and increased fragility and conflict pose persistent harm to people around the globe. Sharply higher prices for staples and supply shortages are increasing pressure on households worldwide and pushing millions more into poverty. The threat is highest for the poorest countries with a large share of consumption from food imports, but vulnerability is increasing rapidly in middle-income countries, which host the majority of the world’s poor. World Bank estimates warn that for each one percentage point increase in food prices, 10 million people are thrown into extreme poverty worldwide.”



“The rise in food prices is exacerbated by a dramatic increase in the cost of natural gas, a key ingredient of nitrogenous fertilizer. Surging fertilizer prices along with significant cuts in global supplies have important implications for food production in most countries, including major producers and exporters, who rely heavily on fertilizer imports. The increase in food prices and supply shocks can fuel social tensions in many of the affected countries, especially those that are already fragile or affected by conflict.”



“We call on the international community to urgently support vulnerable countries through coordinated actions ranging from provision of emergency food supplies, financial support, increased agricultural production, and open trade. We are committed to combining our expertise and financing to quickly step up our policy and financial support to help vulnerable countries and households as well as to increase domestic agricultural production in, and supply to, impacted countries. We can mitigate balance of payments pressures and work with all countries to keep trade flows open. In addition, we will further reinforce our monitoring of food vulnerabilities and are quickly expanding our multi-faceted policy advice to affected countries guided by the comparative advantages of our respective institutions.”



“We also urge the international community to help support urgent financing needs, including through grants. This should include financing of immediate food supplies, safety nets to address the needs of the poor, and for small farmers facing higher input prices. We also urge all countries to keep trade open and avoid restrictive measures such as export bans on food or fertilizer that further exacerbate the suffering of the most vulnerable people. It is especially important not to impose export restrictions on humanitarian food purchases by the UN’s World Food Program.”



“It is critical to quickly provide support for food insecure countries in a coordinated manner. We stand ready to work together with our multilateral and bilateral partners to help countries address this urgent crisis.”

French President Emmanuel Macron receives Kristalina Georgieva, International Monetary Fund (IMF) Managing Director

Joint Statement: The Heads of the World Bank Group, IMF, WFP and WTO Call for Urgent Coordinated Action on Food Security

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="530" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/2L2RR3O47JNMFPFPWSFODGYYIM-820x530.jpg" alt="" class="wp-image-416470" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/2L2RR3O47JNMFPFPWSFODGYYIM-820x530.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/2L2RR3O47JNMFPFPWSFODGYYIM-300x194.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/2L2RR3O47JNMFPFPWSFODGYYIM-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/2L2RR3O47JNMFPFPWSFODGYYIM-768x496.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/2L2RR3O47JNMFPFPWSFODGYYIM.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>A woman shops at a supermarket in Nairobi October 23, 2008. Economic growth in sub-Saharan Africa will dip to 6 percent in 2008 and 2009 due to tough global conditions, while inflation is seen rising to 12 percent this year, the International Monetary Fund said on Thursday. REUTERS/Antony Njuguna (KENYA)</figcaption></figure>



LONDON, April 13 (Reuters)&nbsp;&#8211;&nbsp;Sub-Saharan Africa&#8217;s economy is set to grow 3.6% this year, down from 4% in 2021, the World Bank said on Wednesday, as it warned rising food and energy prices fuelled by Russia&#8217;s war in Ukraine could spark civil unrest in the region.



While it upgraded the forecast for this year by 0.1 percentage points and said last year&#8217;s growth had beaten its initial forecasts, the bank said inflation in the region was set to quicken to 6.2% this year, up from 4.5% in 2021.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2R20MY&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



War in Ukraine would worsen the factors holding back Africa&#8217;s recovery from the coronavirus pandemic despite small direct economic links, it said, due to higher commodity prices, tighter global monetary policy and a fall in foreign financial flows.



&#8220;(The war&#8217;s) largest impact is on the increasing likelihood of civil strife as a result of food- and energy-fuelled inflation amid an environment of heightened political instability,&#8221; the World Bank said in its latest Africa&#8217;s Pulse report.



It said the share of countries in sub-Saharan Africa classed as being at a high risk of debt distress had risen to 60.5%, from 52.6% in October 2021.



&#8220;The existing debt relief and resolution mechanisms have been insufficient to bring down debt levels,&#8221; the report, released ahead of International Monetary Fund Spring Meetings next week, said.



<h3 class="wp-block-heading" id="h-read-more-why-african-nations-support-for-un-action-on-russia-ukraine-is-so-mixed">Read more: <a href="https://www.cnbcafrica.com/2022/why-african-nations-support-for-un-action-on-russia-ukraine-is-so-mixed/">Why African nations’ support for UN action on Russia/Ukraine is so mixed</a></h3>



&#8220;Improvements are much needed to avoid a large wave of debt crisis among developing countries, particularly Sub-Saharan African countries.&#8221;



It added that Ghana, whose currency has fallen 17.9% against the dollar this year, was &#8220;leading the way&#8221; when it comes to concerns about countries&#8217; debt sustainability, although it forecast growth of 5.5% for the country in 2022.



Ghana&#8217;s government has said it would not seek IMF help.



Beyond the region, Sri Lanka, Egypt and Tunisia have requested assistance from the World&#8217;s Bank&#8217;s sister organisation since Russia invaded Ukraine, causing food and commodity price spikes.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2VV3C5&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The World Bank said its upgraded growth estimate for last year was driven by increases of 1.2% and 0.3% in 2021 figures for Nigeria and South Africa, although it warned of ongoing &#8220;sluggish&#8221; growth in Nigeria, South Africa and Angola.



South Africa would grow 2.1% this year, Angola 2.9% and Nigeria 3.8%, the World Bank forecast, while Ivory Coast would be the fastest-growing west African economy at 5.7%, and east Africa&#8217;s biggest economy Kenya would expand 5%.



(Reporting by Rachel Savage; Editing by David Holmes and Alex Richardson)

2L2RR3O47JNMFPFPWSFODGYYIM

Sub-Saharan Africa’s growth to slow to 3.6% this year, World Bank says

UBA: T-Bills auction to shape market direction

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="541" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/V3R2ATVWBNJ3RMO4FWAQ5TLW6I-820x541.jpg" alt="" class="wp-image-416474" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/V3R2ATVWBNJ3RMO4FWAQ5TLW6I-820x541.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/V3R2ATVWBNJ3RMO4FWAQ5TLW6I-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/V3R2ATVWBNJ3RMO4FWAQ5TLW6I-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/V3R2ATVWBNJ3RMO4FWAQ5TLW6I-768x506.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/V3R2ATVWBNJ3RMO4FWAQ5TLW6I.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>President Cyril Ramaphosa meets with people who lost family members during flooding in Clermont, Durban, South Africa, April 13, 2022. REUTERS/Rogan Ward</figcaption></figure>



JOHANNESBURG, April 13 (Reuters)&nbsp;&#8211;&nbsp;President Cyril Ramaphosa pledged to help victims of devastating floods on South Africa&#8217;s east coast on Wednesday, as the death toll rose to 259 people from heavy rains that ruined roads and disrupted shipping in one of Africa&#8217;s busiest ports.



Ramaphosa&nbsp;was visiting&nbsp;families who had lost loved ones in KwaZulu-Natal province, including a family with four children, after floods and mudslides ravaged homes on Tuesday.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2WA2IZ&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Africa&#8217;s southeastern coast is on the front line of seaborne weather systems that scientists believe global warming is making nastier &#8211; and predict will get far worse in decades to come.



&#8220;You&#8217;re not alone&#8230;We&#8217;ll do everything in our power to see how we can help,&#8221; Ramaphosa said. &#8220;Even though your hearts are in pain, we&#8217;re here for you.&#8221;



Nonala Ndlovu, the chief director of the Department of Cooperative Governance for KwaZulu-Natal, told Reuters the latest police estimate of the death toll.



<h3 class="wp-block-heading" id="h-read-more-south-africa-raises-rates-citing-inflation-risks-linked-to-ukraine-war">Read more: <a href="https://www.cnbcafrica.com/2022/south-africa-raises-rates-citing-inflation-risks-linked-to-ukraine-war/">South Africa raises rates citing inflation risks linked to Ukraine war.</a></h3>



South Africa&#8217;s&nbsp;northern neighbour Mozambique has suffered a series of devastating floods over the past decade, including one last month that killed more than 50 people and injured 80.



&#8220;You&#8217;re battling one of the biggest incidents we&#8217;ve seen and we thought this only happens in other countries like Mozambique or Zimbabwe,&#8221; Ramaphosa said.



A report by the Intergovernmental Panel on Climate Change (IPCC) in February warned that humanity was far from ready even for the climate change that is already baked into the system by decades of fossil fuel-burning and deforestation. It urged the world to ramp up investments in adaptation.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2V30XA&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



South African pulp and paper maker Sappi&nbsp;SAPJ.J&nbsp;said on Wednesday its staff were unable to travel to work due to the flooding and that the transport of goods had been disrupted, impacting three mills.



South Africa&#8217;s biggest logistics and freight operator Transnet, which runs the port of Durban, gradually resumed operations there on Wednesday after suspending them on Tuesday, the public enterprises ministry said.



(Reporting by Tim Cocks, Olivia Kumwenda-Mtambo and Nkobile Dludla in Johannesburg; Editing by Promit Mukherjee)VIEW LESS

V3R2ATVWBNJ3RMO4FWAQ5TLW6I

South African leader visits flood victims as death toll rises to 259

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="599" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/4GHXRPYZUNNKPAB6O64ZIWBJHM-820x599.jpg" alt="" class="wp-image-416466" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/04/4GHXRPYZUNNKPAB6O64ZIWBJHM-820x599.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/4GHXRPYZUNNKPAB6O64ZIWBJHM-300x219.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/4GHXRPYZUNNKPAB6O64ZIWBJHM-123x90.jpg 123w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/4GHXRPYZUNNKPAB6O64ZIWBJHM-768x561.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/4GHXRPYZUNNKPAB6O64ZIWBJHM-1536x1123.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/04/4GHXRPYZUNNKPAB6O64ZIWBJHM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: South Africa&#8217;s Ambassador to the UN Mathu Joyini speaks during the 11th emergency special session of the 193-member U.N. General Assembly on Russia&#8217;s invasion of Ukraine, at the United Nations Headquarters in Manhattan, New York City, U.S., March 1, 2022. REUTERS/Carlo Allegri/File Photo</figcaption></figure>



JOHANNESBURG, April 13 (Reuters)&nbsp;&#8211;&nbsp;Western powers seeking to isolate Russia over Ukraine are disappointed at what they see as lukewarm support from African nations at the U.N. general assembly &#8211; where their 54 votes form a bloc large enough to swing resolutions.



The Ukraine war comes at a time of heightened rivalry between the West, China and Russia over Africa&#8217;s natural resources, trade and security ties.



Below are some reasons for the continent&#8217;s divided stance:



<h2 class="wp-block-heading" id="h-hearts-and-minds">HEARTS AND MINDS</h2>



On the day of the invasion, Feb. 24, the African Union unequivocally called on Russia to respect &#8220;the territorial integrity and national sovereignty of Ukraine&#8221;, while Kenya&#8217;s U.N. ambassador, Martin Kimani, spoke for many when he compared Russian aggression to that of Africa&#8217;s former colonial masters.



However, African votes on U.N. resolutions have been mixed, for example on the suspension of Russia from the Human Rights Council: nine African nations voted against, 23 abstained, 11 didn&#8217;t vote and only 11 backed it.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2W5129&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



While an abstention might look &#8216;pro-Russian&#8217;, Russia has also threatened countries that abstain, underscoring how squeezed would-be neutral parties are.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2W413B&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The West has meanwhile stepped up its efforts to vie for African hearts and minds. That could serve the continent well.



&#8220;It makes sense for (the West) to maintain those relationships (with African countries),&#8221; said Cayley Clifford, researcher at the South African Institute of International Affairs. &#8220;This whole conflict &#8230; almost gives Africa the upper hand.&#8221;



<h2 class="wp-block-heading">AFRICA&#8217;S NOT A COUNTRY</h2>



Analysts note that African countries have varying motives when it comes to Russia, so talk of an &#8216;African position&#8217; makes little sense.



&#8220;You can&#8217;t just brush it with one paint. There is no &#8216;African view&#8217;. There are various views based on various historical reasons,&#8221; Comfort Ero, President of the International Crisis Group, said.



Kenya is pursuing a security partnership with the United States against Somalia-based Islamist militants; Nigeria seeks support against Islamic state and Boko Haram; Ghana has sought to deepen U.S. cultural ties by becoming Africa&#8217;s premiere slave heritage tourism destination.



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2022/afreximbank-sets-up-4-bln-trade-fund-to-cushion-against-ukraine-related-shocks/">Afreximbank sets up $4 bln trade fund to cushion against Ukraine-related shocks</a></h3>



Many that do not back the West&#8217;s stance &#8211; like South Africa, Eritrea and Central African Republic &#8211; have close trade and security ties with Russia they don&#8217;t want to jeopardise.



The diplomatic heavyweight least inclined to back the West is South Africa, which went so far as proposing an alternative resolution that didn&#8217;t mention Russia&#8217;s invasion of Ukraine.



South Africa&#8217;s close trade and historical ties with Russia are often invoked, but analysts say it&#8217;s less to do with this &#8211; South Africa trades many times more with NATO countries &#8211; than with its non-aligned ideology, as outlined by Foreign Minister Naledi Pandor in a speech last week.



<h2 class="wp-block-heading">DISILLUSIONMENT</h2>



African countries have long resented being a theatre for distant power struggles happening in faraway capitals.



&#8220;It&#8217;s a feeling that we are where superpowers practise their games,&#8221; said a senior African diplomat. &#8220;How we experience it doesn&#8217;t matter to them. What they care about is their power.&#8221;



On COVID-19, African leaders&#8217; calls for vaccines have fallen on the deaf ears of rich nations with more than enough to spare. Ditto for Africa&#8217;s plea for funds to deal with climate change.



&#8220;When we have a problem, we&#8217;re on our own; when there&#8217;s an &#8216;international problem&#8217;, as defined by the West, then it&#8217;s a global problem&#8230; Everybody treats us like pawns,&#8221; Chris Ogunmodede, associate editor at World Politics Review, said.



For others, a superpower invading a weaker nation on a false pretext has echoes of 2003.



&#8220;They deceived us on Iraq, they told us there are weapons of mass destruction and we &#8230; supported them,&#8221; Uganda&#8217;s Foreign Minister of State Okello Oryem told Reuters, referring to the false claim that Saddam Hussein was developing nuclear weapons to explain why Uganda was being more cautious this time.



Uganda was among just four African states backing the U.S.-led invasion, when President Yoweri Museveni was a close ally.



Relations have since soured. Museveni bristles at Western criticism that he&#8217;s an autocrat, and defence of gay rights &#8211; the kind of moralising that China and Russia don&#8217;t do.



(Additional reporting by Michelle Nichols at the United Nations, Elias Biryabarema in Kampala and Giulia Paravicini; Editing by James Macharia Chege, Kirsten Donovan)

FILE PHOTO: 11th emergency special session of the U.N. General Assembly on Russia’s invasion of Ukraine, in New York City

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