🔅 America's Failed War on Terror in Africa, Nairobi Top Destination for 2024

Plus: G20 Compact with Africa, Elephant Names, and Ethiopia's Unclaimed Wireless License...

Nov 21, 2023

Gabon

an aerial view of a lake surrounded by trees — Photo by Flo Lorenz on Unsplash

Money Matters

🟢 Nigerian SE: 71,112.99 (-0.16%)

🟢 Johannesburg SE: 73,920.75 (+0.47%)

🟢 Ghana SE: 3,195.57 (+0.00%)

🔴 Nairobi SE: 90.39 (--0.12%)

🟢 US S&P 500: 4,526.72 (+0.28%)

🔴 Shanghai Composite: 3,068.32 (+0.46%)

Niger's Coup Crisis Leads To Missed Payments | The West African nation of Niger is having a rough time since a military coup in July led to its suspension from regional financial markets. The country has missed payments totalling 187.136 billion CFA francs (that’s $304 million, in case you were wondering). This includes an interest payment of 2.464 billion CFA francs ($4 million) due recently.

*Data accurate as of the close of markets across the continent

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Brief & Bright: Africa's Top Five

America's Forever War: How the US Failed at Fighting Terrorism in Africa

us a flag on pole — Photo by Robert Linder on Unsplash

The US has a long history of meddling in other countries' affairs, and their "War on Terror" is no exception. In the wake of 9/11, President George W. Bush declared that the US would stop at nothing to defeat all terrorist groups with global reach—including those in Africa. And so began a decades-long effort of providing security assistance, training military officers, setting up outposts, launching drone strikes, and even engaging in direct ground combat. This involvement has been controversial, with critics arguing it has often destabilized regions and inadvertently fueled anti-American sentiment. And despite all these efforts, terrorism in Africa has spiked by 75,000% as a result of the interventions. The Salon has an interesting read on this mind-blowing statistic.

G20 Compact with Africa: A Conference for Investing in the Continent's Future

Leaders from over a dozen African countries are gathering since yesterday in Germany for the G20 Compact with Africa conference. It’s all about private investment in the world's poorest, but fastest-growing, continent. Heads of state like Ursula von der Leyen and Emmanuel Macron are there, along with the Dutch Prime Minister and German Chancellor Olaf Scholz, which means that the Europeans are serious about showing their commitment to Africa. Indeed, the G20 has been competing with Russia and China for geopolitical influence, critical minerals, and economic opportunities, and Africa is caught between the tug-of-war. The conference will discuss investment opportunities, renewable energy production (like green hydrogen), and reducing illegal migration. African countries have long been frustrated by Europe’s talk of investment while China actually provides financing without any moral lecturing. But now, European interest is on the rise as it seeks to diversify its supply chains. In fact, German trade with Africa was up 21.7% last year. So, the G20 Compact is all about getting real results and solidifying partnerships with African nations. Can you count the number of summits African leaders have been invited to this year alone?

Nairobi: Lonely Planet's Top Destination for 2024

a giraffe standing in a field with a city in the background — Nairobi has a full-fledged national park a short drive out of the city’s central business district — Photo by Grace Nandi on Unsplash

Nairobi, the bustling capital of Kenya, has been named the top city to visit in 2024 by the travel agency Lonely Planet. This is a massive win for the city, beating out more well-known destinations like Paris and Montreal. The Kenyan government is understandably thrilled, with President William Ruto touting the recognition as a boost for the country's tourism industry. With its vibrant culture and even a full-fledged national park a short drive out of the city’s central business district, Nairobi is indeed a unique and unforgettable destination. It doesn't hurt either that the government has been heavily promoting the city (and the country at large) over the past couple of years.

Elephants Have Names, And They're Not Babar or Dumbo

Illustration in a style reminiscent of early 20th-century American magazines, depicting two African savannah elephants in a scene of communication, similar to the concept of 'calling out' to each other. One elephant should be illustrated in the act of vocalizing with its trunk raised, while the other listens, representing their unique social interactions. The background should be a subtly stylized savannah landscape, with artistic interpretations of acacia trees and grasslands. The overall image should be more refined and artistic, capturing the essence of a high-quality magazine illustration like The New Yorker, focusing on the elegance and intelligence of these majestic creatures.

Turns out, elephants have a whole language of their own, and it's not just random trumpeting and stomping. Scientists have discovered that African savannah elephants have specific vocalizations for individuals in their social groups. In other words, they have names for each other. This makes them the first non-human animals identified to have a unique way of addressing each other. These calls are all their own, and they even respond differently depending on who's calling. This is a huge step forward in understanding how these intelligent creatures communicate. Who knew elephants were such chatterboxes?

No Takers for Ethiopia's Third Wireless License

Illustration in a simplified and classic news graphic style, depicting Ethiopia's unsuccessful attempt to sell a third wireless license. The image should feature a symbolic representation of the wireless license, like a mobile tower or a wireless signal icon, with a 'no bids' or 'unsuccessful' sign. The background can include subtle elements that hint at the ongoing conflict and investor concerns, like a faded map of Ethiopia or abstract symbols of uncertainty. The overall image should convey the theme of economic challenges amidst political instability, consistent with traditional newspaper and magazine graphics.

Ethiopia's attempt to sell a third wireless license has fallen flat, with no bids coming in. Apparently, investors are concerned about the ongoing conflict in certain parts of the nation. The government may have to hit pause on their plan to lure investors, as it did when it rejected a $600 million bid from MTN Group Ltd. last year. Despite a recent cease-fire deal, the UN is still worried about potential violence in Ethiopia.

Food for Thought

“Teeth do not see poverty."

— Kenyan Proverb

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