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IMF expects South Africa’s growth to stabilize at 1.4% in medium term

Business /

The International Monetary Fund (IMF) said Wednesday that it expects South Africa’s economic growth to stabilize at 1.4% in the medium term. Economic growth slowed to 0.7% in 2023, partly due to widespread power shortages and disruptions at rails and ports, the IMF said in a report after its executive board concluded post financing assessment discussions with South Africa. Growth is forecast to reach 1% in 2024 with improved investor sentiment and electricity generation, according to the IMF. “The new government of national unity that took office in June faces significant challenges, including declining real per capita growth, high unemployment, poverty, and inequality, and a rising level of public debt,” said the report. “The new administration has committed to address these challenges by continuing ongoing structural reforms aimed at addressing supply constraints and bolstering inclusive growth, while maintaining fiscal discipline,” it added. While inflation declined to the South African Reserve Bank’s 3%-6% target range last year, it moderated further to 5.1% this June, said the IMF. The financial agency said it anticipates inflation declining toward the mid-point of the central bank’s target range in the second quarter of 2025.

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57 million tonnes of plastic pollution annually, study finds

Discover /

A new University of Leeds study, published in Nature, reveals that the world generates 57 million tonnes of plastic pollution annually. This pollution reaches every corner of the globe, from the deepest oceans to the highest peaks, with over two-thirds originating from the Global South. Using AI to analyze waste management across over 50,000 municipalities, researchers found that much of the pollution comes from areas where waste is poorly managed. Notably, 15% of the global population lacks adequate waste collection services, contributing significantly to plastic pollution in Southeast Asia and Sub-Saharan Africa. Among the worst offenders, Lagos, Nigeria tops the list, followed by New Delhi, Luanda, Karachi, and Cairo. Nigeria is second in the global rankings, with the Democratic Republic of Congo also making the top 10. Dr. Costas Velis, lead researcher, emphasizes that the issue stems from inadequate resources and infrastructure rather than the actions of any particular region. He argues that effective waste collection should be considered a fundamental aspect of sanitation. With global plastic production expected to triple, the UN warns that “our planet is choking in plastic.”

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Fuel Crisis Worsens in Nigeria

Africa /

Nigerians are grappling with a severe fuel crisis, marked by chronic shortages and soaring petrol prices. Despite being a major oil producer, Nigeria depends on imported petroleum due to inadequate refining capacity. The state-run Nigerian National Petroleum Corporation (NNPC) offers the lowest fuel prices, but when NNPC raises its rates, private stations follow suit. Currently, petrol prices range from $0.56 per liter at NNPC stations to $0.74 or more at independent garages. With many households and vehicles relying on petrol and diesel for power due to unreliable electricity, the ongoing fuel shortages are worsening the cost-of-living crisis. This situation follows government reforms aimed at ending fuel subsidies and floating the currency, which have already led to a significant rise in inflation.

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Burkina Faso issues new passport without ECOWAS logo

Africa /

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Libya: Migrant boat capsizes off 1 dead, 22 missing

Africa /

A boat carrying 32 migrants capsized off the Libyan coast Tuesday, leaving one dead and 22 missing, according to Libyan authorities. The coast guard in Tobruk rescued nine survivors who were taken to a local port and hospital. The boat, which departed from Bab al-Zaitoun near Tobruk, sank after its engine failed, as reported by local aid group Abreen. The migrants were from Egypt and Syria. Libya, a major transit point for migrants fleeing conflict and poverty, has seen repeated maritime tragedies. In December, 61 migrants drowned near Zuwara. The ongoing chaos in Libya, exacerbated by the 2011 NATO-backed uprising, has enabled human traffickers to exploit migrants, leading to numerous deaths and disappearances. The International Organization for Migration reported 434 deaths and 611 missing migrants off Libya in the past eight months, with over 14,100 intercepted and returned. Those returned face harsh conditions in detention centers, including forced labor and abuse.

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African nations losing 5% of GDP to climate change

Business /

African nations are losing up to 5% of their GDP annually due to climate change, with the continent experiencing a significant impact from global warming, according to a new report released Monday. The World Meteorological Organization (WMO) noted that African countries are allocating up to 9% of their budgets to climate adaptation. WMO Secretary-General Celeste Saulo highlighted the accelerated warming in Africa, which is outpacing the global average and impacting food security, public health, and stability. Despite contributing less than 10% of global greenhouse gas emissions, Africa is highly vulnerable to extreme weather, including droughts, floods, and heatwaves. The report, focusing on 2023—one of Africa’s hottest years—urges investment in early warning systems and meteorological services. Without adequate measures, up to 118 million Africans could face severe weather events by 2030. In sub-Saharan Africa, adaptation costs could reach $30-50 billion per year over the next decade. Recent extreme weather events, including floods affecting 300,000 people in West Africa and a severe drought in Zambia, underscore the urgency. The pattern of extreme weather continues into 2024, with significant flooding in the Sahel and an unprecedented heat wave in West Africa earlier this year.

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Bitcoin ATM scam losses up nearly tenfold since 2020

Business /

New research shows a nearly tenfold increase in losses to Bitcoin ATM scams since 2020, the US Federal Trade Commission (FTC) said Tuesday. “Since 2020, the amount consumers reported losing has increased nearly tenfold to over $110 million in 2023,” it said in a report. The FTC said that fraud losses to Bitcoin ATMs have topped $65 million in the first six months of this year. “During this timeframe, consumers over the age of 60 were more than three times as likely as younger adults to report losing money to Bitcoin ATM scams,” it said. “Across all ages, the median loss reported in the first half of this year was a staggering $10,000.” Bitcoin ATMs, which are machines that look like a traditional ATM, are often found at convenience stores, gasoline stations and other high-traffic areas, said the FTC. Instead of distributing cash, they accept cash in exchange for cryptocurrency. “Their use by scammers, who urge consumers to deposit cash into them to ‘protect’ their savings, is on the rise,” it added. Most scam losses involving Bitcoin ATMs come as a result of government impersonation, business impersonation, and tech support scams, according to the agency. “The lies told by scammers vary, but they all create some urgent justification for consumers to take cash out of their bank accounts and put it into a Bitcoin ATM. As soon as consumers scan a QR code provided by scammers at the machine, their cash is deposited straight into the scammers’ crypto account,” it noted. The FTC advised consumers to never click on links or respond directly to unexpected calls, messages, or computer pop-ups, adding: “If you think it could be legitimate, contact the company or agency, but look up their number or website yourself. Don’t use the phone number the caller or message gave you.” The agency also advised consumers to slow down in their actions, avoid rushing, and never withdraw cash in response to an unexpected call or message. “Don’t believe anyone who says you need to use a Bitcoin ATM, buy gift cards, or move money to protect it or fix a problem. Real businesses and government agencies will never do that – and anyone who asks is a scammer,” it warned.

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US defense chief to visit Germany to host Ukraine meeting

World /

 US Defense Secretary Lloyd Austin will travel Thursday to the Ramstein Air Base in Germany to host the Ukrainian defense contact group on Sept. 6, the Pentagon said Tuesday. “The Secretary and chairman (US Joint Chiefs of Staff Chairman Gen. Charles Q. Brown) will join ministers of defense and senior military officials from nearly 50 nations to discuss the ongoing war in Ukraine and the continued close coordination by the international community to deliver to Ukraine the support it needs to defend itself,” spokesman Maj. Gen. Pat Ryder told reporters. It will be the 24th meeting of the Ukraine defense contact group since Austin formed the international body in April 2022, he said. Austin will have a chance to meet Ukrainian and international partners later this week at Ramstein, where the US will be “very focused” on Ukraine’s security assistance needs. “In terms of any changes to our policy, I’m not going to have anything to provide again. There has been no changes. And as it relates to potential Ukrainian operations, I’m just not going to speculate or talk about potential future ops,” said Ryder. The US remains committed to supporting Ukraine’s ability to defend itself and to protect its sovereign territory, as well as build its ability to deter against Russia, he reiterated. The Pentagon recently announced its latest package of security assistance for Ukraine at up to $125 million. It included key weapons and ammunition to meet Ukraine’s most urgent needs, including air-defense capabilities.

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China urges African countries to unite ‘Global South’

Africa /

Chinese President Xi Jinping has called on African leaders to unite the “Global South” in advocating for international equity and justice amid major global changes. In meetings with African leaders attending the Forum on China-Africa Cooperation (FOCAC) in Beijing, Xi stressed the importance of solidarity among developing nations. Xi highlighted new partnerships, including a “Comprehensive Strategic Cooperation Partnership” with South Africa and proposed three types of collaboration with Kenya: mutual trust, win-win cooperation, and strategic alignment on international and regional issues. With Comoros, Xi emphasized cooperation as a model of equality and solidarity, offering support to combat poverty and utilize the country’s geographical advantages. He also invited Seychelles to join the China-Indian Ocean Development Cooperation Forum and urged faster sustainable use of marine resources. Regarding Eritrea, Xi proposed enhanced cooperation in energy, infrastructure, and agriculture, noting shared views on international matters. In discussions with Guinea, Xi highlighted FOCAC’s role in boosting practical cooperation and supporting Guinea’s development. With Chad, Xi supported the country’s sovereignty and security, while Chad reaffirmed its adherence to the “One China” policy. In his meeting with Malawi, Xi discussed leveraging opportunities from China’s modernization and increasing cooperation in various fields. Xi reiterated Africa’s crucial role as a global power and China’s diplomatic focus, advocating for a multipolar world and inclusive economic globalization. The FOCAC’s ninth summit will take place in Beijing from September 4-6, with leaders from over 50 countries attending. Eswatini will not participate due to its diplomatic ties with Taiwan.

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161 Nigerian students denied entry at UK border

Africa /

Between 2021 and 2023, 1,425 international students were denied entry to the UK at airports. Among them were 161 Nigerians, as revealed by UK Home Office data obtained via the Freedom of Information Act. Indian students were the most affected, representing 45% of those turned away, with 644 removals. Nigerians made up 11.3%, while students from Ghana and Bangladesh accounted for 6.46% and 6.32%, respectively. The data, covering October 2021 to October 2023, only reflects students refused entry at the border and does not include those deported for visa violations. The Home Office did not provide specific reasons for these removals, but sources indicate issues such as failing to convince Border Force officers, presenting forged documents, or language barriers. Immigration lawyer Dele Olawanle criticized the practice, arguing that Border Force officers have overstepped by questioning students about their academic courses, which sometimes leads to visa cancellations. Data analyst Nelly Okechukwu recounted a similar experience, where he was questioned about his studies despite having graduated years earlier.

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