The officers, armed with 43 guns and ammunition, crossed into Uganda via the Ishasha border in Kanungu district and were disarmed upon arrival, according to Major Kiconco Tabaro
Congolese police officers flee to Uganda amid intensifying fighting Read More »
Houthi military spokesperson Yahya Saree stated in a televised address that the ship was attacked using ballistic missiles
Houthis claim first attack on shipping lanes in two weeks Read More »
Tinubu expressed concern over the protests being hijacked by looters and stressed the need for order and dialogue
Nigerian president demands end to deadly protests Read More »
Russian S-400 anti-aircraft missile system on Crimean peninsula was also successfully targeted, according to statement issued by General Staff of Armed Forces of Ukraine
Ukraine claims Russian submarine sunk in Sevastopol Read More »
The head of Cameroon’s National Hydrocarbons Corporation (SNH) announced that some of its managers and employees will appear before a UK court due to their suspected involvement in bribery linked to Swiss commodity trader Glencore GLEN.L. Adolphe Moudiki, SNH’s administrator and director general, initially denied staff involvement but issued a statement late on Friday acknowledging that some employees have been identified as suspects and will appear before a British court on Sept. 10. In June 2022, Glencore’s UK subsidiary pleaded guilty to seven counts of bribery in a London court, involving oil operations in Cameroon, Equatorial Guinea, Ivory Coast, Nigeria, and South Sudan. On Thursday, Britain’s Serious Fraud Office (SFO) charged Glencore’s former head of oil, Alex Beard, with two conspiracies to make corrupt payments to government officials and employees of state-owned oil companies in Nigeria and Cameroon. “SNH welcomes the progress of proceedings against the perpetrators and accomplices of the acts of corruption that have tarnished its image,” Moudiki stated, without specifying the number of SNH staff involved. Glencore’s UK subsidiary admitted to paying bribes amounting to 7 billion CFA francs ($11 million) to SNH officials and others to secure preferential access to oil between 2011 and 2016. Cameroonian lawyer and anti-corruption specialist Akere Muna urged SNH to disclose the identities of those involved and to suspend dealings with Glencore. “The culprits are within Cameroon, the transactions that gave rise to the corruption took place in Cameroon, yet they expect us to believe the solution will come from London,” Muna said. In July 2022, Cameroon’s state anti-corruption commission announced an investigation into the bribery offences but has not provided further details since then. SNH is responsible for selling the share of national crude oil production accruing to the state on the international market.
Cameroon state oil firm to face UK court over Glencore bribery scandal Read More »
Security forces killed 3 terrorist attackers who stormed popular hotel after initial blast late Friday
Massive terror attack in Mogadishu; dozens killed Read More »
Captain Ibrahim Traore opens ‘Burkindlim’ in capital Ouagadougou
Burkina Faso launches first state bank for economic sovereignty Read More »
We will seek military support if our personnel overpowered by protestors, says police chief
Curfew imposed in Nigeria amid deadly protests, 17 killed Read More »
‘I am particularly concerned about the resurgence of M23 rebels in eastern DR Congo,’ Burundi’s president says in Zambian parliament
Burundi urges regional coordination for peace in DR Congo Read More »
Ethiopia is set to reduce its debt repayments by $4.9 billion as it finalizes its debt restructuring, State Finance Minister Eyob Tekalign announced Friday. The move follows the country’s recent agreement with the International Monetary Fund (IMF) for a new financing program. The debt overhaul will involve negotiations with individual creditors over the coming months, with expected savings including $200 million from restructuring a $1 billion Eurobond. This process aims to adjust the bond’s nominal value. Prime Minister Abiy Ahmed also addressed recent economic reforms, including the switch to a market-determined foreign exchange rate. The Ethiopian birr, which floated freely starting Monday, has depreciated by 31.5% against the dollar, causing concern over potential inflation. Abiy emphasized that the adjustment aimed to unify disparate exchange rates rather than devalue the currency. Meanwhile, the federal trade ministry has closed over 700 shops for unjustified price hikes, as part of efforts to control inflation. The reforms, which also include lifting foreign exchange restrictions, are expected to encourage private sector growth and enhance long-term economic stability, despite concerns from some local governments about the impact on low-income households.
Ethiopia to save $4.9B in debt relief with new restructuring plan Read More »
