🔅 African Music's Red Carpet Moment
Plus: Diamonds are Botswana’s best friend, An East African unified currency, Tragedy in the Congo, and Much more… ☕
Photo of the day: São Tomé and Príncipe
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Markets:
🔻 Nigerian SE: 52,348.82 (-0.31%)
🔻 Johannesburg SE: 79,290.42 (-0.05%)
— Ghana SE: 2,439.08 (0.00%)
🔺 Nairobi SE: 121.96 (+1.05%)
🔺 US S&P 500: 3,999.09 (+0.40%)
🔺 Shanghai Composite: 3,123.52 (+0.22%)
Inflation, and Diamonds: Inflation has slowed in several countries (including Senegal, Rwanda, Namibia, and Tanzania), but one country is glistening with good news. Botswana posted a budget surplus for the first six months of 2021, and it all has to do with diamonds. With everyone avoiding Russian goods due to sanctions, shoppers have turned to Botswana for their sparkly needs. The southern African nation is one of the world's top producers of diamonds, rivalling Russia.
South Africa: The South African rand dropped like a rock on Monday after President Cyril Ramaphosa cancelled a trip to the World Economic Forum (WEF) in Davos to deal with the country's energy crisis. Eskom's worst-ever power cuts continued, with "Stage 6" in effect until further notice. The South African government is also expected to announce a plan to take on some of Eskom's debt during its annual budget — not exactly the news investors wanted to hear.
*Data accurate as of the close of markets across the continent
SECURITY
AFRIMA: African Music's Red Carpet Moment
The 2021 edition of Africa’s All Africa Music Awards (AFRIMA) was held over the weekend, and it was a star-studded night! It was a four-day extravaganza of music that celebrated the continent’s best talent.
So, who won?
Ivorian singer Didi B won the Song of the Year award for his rap song “Tala,” while Nigerian Afrobeat star Burna Boy took home the Best Act in Africa award as well as the Best Album of Year award.
Asake, another Nigerian, won Breakout Artist of the Year. Wizkid and Davido bagged the Best Act in West Africa and the Best Male Act in African Inspirational Music awards, respectively.
Sounds like an epic night.
Well, it was! The event was held on the outskirts of Senegal’s capital, Dakar. It included performances from some of Africa’s most famous – like Nigeria’s P-Square and Tiwa Savage, Mali’s Rokia Kone, and Senegalese singers Youssou N’dour and Baaba Maal.
What was the highlight?
The event aimed to connect African musicians in the global market, embrace cultural diversity and heritage, and encourage the submission of entries for the awards.
More than 9,000 entries were submitted for this year’s contest, and the winners beat out more than 380 entries in 39 categories from five African regions.
OTHER HEADLINES
Across the Continent
💵 East Africa’s Big Plans: A Single Currency and an Open Border | East Africa is leading the charge for a united Africa. The East African Community (EAC) recently announced that a single currency could be achieved within the next four years—despite a technical working group’s recommendation that it be pushed back to 2031. The push is being led by EAC Secretary-General Peter Mathuki, who has declared that the East African Monetary Union will be in place by 2024. In addition, the EAC is looking to make the region borderless so that people can move and trade freely. And, to top it all off, the East African Community is sending a delegation to Somalia to evaluate their application to join the fold.
🇨🇩 Islamic State Group-Affiliated Rebels Strike in Congo | Congolese officials have blamed an Islamic State group-affiliated rebel group for an attack at a Pentecostal church in Kasindi, where 17 people were killed and 39 wounded. The Allied Democratic Forces (ADF), a notorious rebel group active in the east of the country, is believed to be behind the attack. A Kenyan national has been arrested concerning the incident, while the UN has condemned “the cowardly and despicable attack”. The ADF has been active in the region since the 1990s but has taken on a more global jihadist dimension in recent years, claiming attacks in the name of the Islamic State group.
🇸🇳 Senegal’s Second Major Crash This Month | Senegalese President Macky Sall broke the news yesterday: 19 people were killed and 24 injured in a road accident between the northern towns of Saint-Louis and Louga. This is the second major crash in Senegal this month, with 80 injured and 80 dead in the two accidents combined. Clearly, the roads in Senegal are in desperate need of some love—the highways are full of overloaded and run-down trucks, buses, and taxis, with plenty of potholes thrown in for good measure. In response to the latest accident, the government has banned passenger buses from travelling between districts between 11 pm and 5 am.
FOOD FOR THOUGHT
Proverb of the Day
“Do not spend the evening in a house where you cannot spend the night.”
— Ethiopian Proverb.
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