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Money Matters
🟢 Nigerian SE: 73,397.71 (+1.28%)
🔴 Johannesburg SE: 74,806.06 (-0.05%)
🟢 Ghana SE: 3,129.56 (+1.96%)
🟢 Nairobi SE: 90.37 (+0.42%)
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*Data accurate as of the close of markets across the continent
Brief & Bright: Africa's Top Five
Congo Presidential Race: The Key Contenders
The Democratic Republic of Congo's presidential election was off to start on Wednesday, in which voters are set to choose from 26 candidates. Here's a look at the main contenders:
Felix Tshisekedi: The current president, Tshisekedi has boosted Congo's economy, particularly through its copper and cobalt industry, and fulfilled his promise of free primary education. He's navigated international relations adeptly but struggles with ongoing violence in eastern Congo, exacerbated by accusations of Rwanda backing the M23 rebel group.
Moise Katumbi: A wealthy businessman and former governor, Katumbi is seen as Tshisekedi's strongest rival. Despite setbacks, including violence at campaign rallies and the imprisonment of his top adviser, Katumbi's business acumen, ownership of a successful soccer team, and support from other candidates, including a former prime minister, make him a formidable contender.
Martin Fayulu: The former Exxon-Mobil executive, who officially finished second in the 2018 elections, is still widely believed to have been the actual winner. Known for his incorruptibility, Fayulu runs his campaign on small donations and maintains a strong stance against the current electoral commission. His uncompromising approach post-2018 elections may appeal to voters seeking change.
Denis Mukwege: The Nobel Peace Prize-winning gynecologist is celebrated for his work with victims of sexual violence in Congo's conflict zones. A vocal critic of both Kabila and Tshisekedi, Mukwege's advocacy and medical expertise, coupled with his international recognition, bring a unique perspective to the presidential race.
These candidates represent a diverse range of political, economic, and social backgrounds, each offering different solutions to Congo's complex challenges. As the country awaits the election outcome, the focus remains on addressing the enduring violence in the east, improving governance, and sustaining economic growth.
Meanwhile, the United Nations Security Council on Tuesday unanimously adopted a resolution starting to wind down its peacekeeping mission in the Democratic Republic of Congo. The mission, called MONUSCO, took over from an earlier U.N. operation in 2010 to help quell insecurity in the eastern part of the Central African country, where armed groups fight over territory and resources. But its presence has become increasingly unpopular for what critics say is a failure to protect civilians against militia groups, sparking deadly protests. MONUSCO had more than 12,300 troops and around 1,600 police deployed in Congo as of February 2023.
Botswana's Rail Revolution: Bypassing South African Ports
Botswana is on the fast track to revolutionize its trade routes with a new rail line to a Namibian port, aiming to sidestep South Africa's crumbling logistics network. This ambitious 1,500-kilometer Trans-Kalahari Railway project is gaining traction as investors from the UAE, Qatar, China, and India express keen interest, recognizing it as a feasible and relatively short venture. South Africa's Transnet SOC Ltd. has been grappling with significant challenges, including lengthy delays at ports, directly impacting regional economies like Botswana. Botswana, a landlocked nation renowned for its diamond and beef exports, currently relies heavily on South Africa for trade. The new rail line offers not only a lifeline for Botswana but also an attractive alternative for South African companies. Botswana’s Transport and Public Works Minister, Eric Molale, highlights the potential benefits for businesses in the Johannesburg and Pretoria areas, offering them a viable option compared to their own ports. This development is part of a larger regional effort to improve access to global markets. The US is backing a rail line from Zambia and the Democratic Republic of Congo to Angola, while China is involved in a railway project linking Zambia with Tanzania. These initiatives are crucial for the transport of minerals like copper and cobalt, essential in the global shift to cleaner energy sources.
BioNTech's African Leap: mRNA Vaccine Factory in Rwanda by 2025
BioNTech, the trailblazer behind the widely used COVID-19 vaccine, is set to revolutionize vaccine production in Africa. By 2025, Rwanda will host the continent's first foreign company mRNA vaccine manufacturing site, marking a significant stride in global health equity. The German company's innovative approach uses modular factory elements akin to shipping containers, known as BioNTainers. Delivered to Kigali earlier in March, these units are a breakthrough, combining flexibility with cutting-edge technology. Ugur Sahin, BioNTech's CEO, proudly notes that this facility will not only be among the world's most advanced but will also have the capability to produce various kinds of mRNA vaccines. BioNTech is fully backing this venture, pouring in $150 million to fund the facility. This initiative is part of the company's broader plan, announced in 2022, to empower African nations to produce the Comirnaty-branded COVID-19 shot under its guidance. Beyond COVID-19, the BioNTainers are poised to manufacture other mRNA vaccines, depending on public health needs and product development progress. The vision is expansive: this initial facility in Rwanda could spearhead a more extensive supply network across Africa, potentially including countries like Senegal and South Africa. This move is a response to the criticism over the delayed shipment of Western-made coronavirus vaccines to Africa. Rwanda's President Paul Kagame highlighted the African Union's commitment to ensuring the continent is never again left in a vulnerable position regarding vaccine access.
Anglo American Lawsuit Dismissed by South African Court
A landmark class-action lawsuit against mining giant Anglo American, filed on behalf of 140,000 Zambian women and children alleging lead poisoning from the company's mine in Kabwe, has been dismissed by a South African court. The case, one of Africa's largest class actions, argued that Anglo American played a key role in the Kabwe lead mine from 1925 to 1974 and failed to prevent widespread lead poisoning. However, Justice Leonie Windell of the Johannesburg High Court ruled against the claim, stating that it sets a dangerous precedent of holding a business liable for actions half a century after its operations ceased. This precedent would challenge businesses based on future knowledge and standards unknown at the time. The plaintiffs, represented by South African firm Mbuyisa Moleele and UK-based Leigh Day, plan to appeal the judgment. The lawsuit was filed in South Africa because Zambian law does not permit class-action cases or contingency-fee legal representation. The case had garnered support from UN special rapporteurs and Amnesty International, highlighting the severe environmental and health impacts of lead pollution in Kabwe.
Kampala's Artistic Renaissance: Uganda's Growing Gallery Scene
Uganda's capital, Kampala, once starved for artistic spaces, now boasts at least six commercial art galleries, signalling a significant shift in the local art scene. This change is exemplified by the recent exhibition of Lilian Nabulime's work at the Xenson Art Space, where her unique sculptures – terracotta pieces depicting the deformed features of gossip bearers – have drawn attention for their portrayal of urban gossip. Nabulime's proactive approach to showcasing her art highlights the evolution of opportunities for local artists who previously struggled to find exhibition space. She represents a burgeoning group of Ugandan artists who are increasingly contributing to an exciting phase in the country's art landscape. This artistic vibrancy is part of a broader African narrative, fueled by an explosion of new work and the rising global interest in modern African art. Notable milestones include Ivorian painter Aboudia topping the Hiscox Artist Top 100 survey in 2022 and Ethiopian artist Julie Mehretu's artwork fetching a record $10.7 million at auction. And while Nairobi has long been celebrated for its vibrant art scene, the recent artistic renaissance in Kampala is increasingly positioning it as a formidable rival. Curators and art enthusiasts are beginning to recognize Kampala for its more intellectually engaged art community, fostered significantly by the presence of the prestigious art school at Makerere University. This deep-rooted academic influence has cultivated a unique depth and diversity in the Kampala art scene, making it a compelling and competitive hub for contemporary African art.
Food for Thought
“During times of peace in the country, the chief does not carry a shield."
— Ugandan Proverb
Appreciated piece about new train line to Nambia and the Atlantic. I hope in addition to trade there will be passenger trains. Also great news about Art in Uganda.
The Congolese election outcome is fascinating, as at least some seemimgly incorruptible candidates are present. Dr. Mugwege is a hero and should be acknowledged as such.