🔅 Congo-Rwanda tensions escalate
In Today’s Issue: Nigerians are dumping the naira, social media influencer Hushpuppi has been sentenced to 11 years, and ebola closes schools early in Uganda… ☕
Markets
🔻 Nigerian SE: 43,461.60 (-1.82%)
🔻 Johannesburg SE: 69,011.45 (-0.62%)
— Ghana SE: 2,460.31 (0.00%)
🔻 Nairobi SE: 127.36 (-0.13%)
🔻 US S&P 500: 3,791.52 (-0.40%)
🔻 Shanghai Composite: 3,064.49 (-0.43%)
*Data accurate as of close of markets across the continent
Nigeria: The Nigerian central bank's decision to replace 200, 500 and 1,000 naira notes has caused a currency crisis, with people rushing to dump the naira and scurry for dollars. The six-week window to change the money, starting on December 15, comes during the festive Christmas season, a time when most households travel to see their families in the villages. The naira has hit record lows as a result of the move, but President Muhammadu Buhari has defended the decision.
SECURITY
Congo-Rwanda tensions escalate
What is Happening:
The Rwandan government says that a Congolese fighter plane entered and “violated Rwandan airspace” by landing at its Rubavu airport before quickly returning to Congo. The Congolese government said that the aircraft had made a mistake.
The situation in the Congo is rapidly deteriorating, and M23 rebels have made advances on several key towns, including Kiwanja, with the alleged help of neighbouring Rwanda. Congo's government blamed Rwanda and consequently expelled the Rwandan ambassador about a week ago.
It then escalated its fight against the rebels by training 3,000 recruits and bombing key targets from the air.
Zoom Out:
The M23 rebels rose to prominence more than a decade ago when they seized the city of Goma, which sits along the border with Rwanda. After a peace deal, many M23 soldiers were integrated into the national military. However, the group re-emerged a year ago, saying the government had failed to fulfil its promises.
Representatives from the two countries met over the weekend in Angola, but it is unclear whether the talks will be enough. Indeed, a Congolese government spokesman said M23 representatives would not be allowed to participate in peace talks unless they withdrew from occupied positions.
Meanwhile, the people of the Congo are caught in the middle of the conflict, with many fleeing their homes and others confined to camps without humanitarian assistance.
ACROSS THE CONTINENT
Other Headlines
🇳🇬 Ray Hushpuppi, a social media influencer known for his luxurious lifestyle funded by laundered stolen money, has been sentenced to over 11 years in prison. Hushpuppi, whose real name is Ramon Abbas, was also ordered to pay $1.7 million in restitution to two fraud victims. Abbas was charged with helping to launder money from various online crimes, including bank cyber-heists and business email compromise. In 2019, he helped launder $14.7 million stolen by North Korean hackers from a bank in Malta.
🇺🇬 Uganda's education minister announced that the school term would be shortened by two weeks in order to reduce the spread of Ebola. The country has recorded 135 confirmed cases and 53 deaths so far. The hope is that closing the schools will reduce the number of densely packed classrooms where children are in close contact with each other and with staff, who could potentially spread the virus. Authorities have been struggling to contain ebola since it spilt into the capital, Kampala. The disease typically kills half of the people it infects.
🇲🇼 Malawi's health ministry will soon launch a second vaccination campaign after receiving 2.9 million doses of the oral cholera vaccine. The outbreak has spread to 27 of Malawi's 29 districts, killing more than 200 people and infecting 6,868 others since March. The most affected age groups are between 21-30 years, and males are disproportionately affected. The outbreak occurs in the context of two recent storms, which caused floods and displacement of a population with low pre-existing immunity. An earlier cholera vaccination campaign in May reached more than 1.5 million people.
AROUND THE WORLD
Canada: China is Undermining our Democracy
What happened?
Canadian Prime Minister Justin Trudeau has warned that China is actively interfering in Canada's federal elections in order to undermine its democracy.
A recently released news report suggests that Beijing had funded a network of candidates in Canada's 2019 election, and that the interference attempts targeted members from both the Liberal and Conservative parties.
Furthermore, the police force announced a few days ago that it was investigating a series of illegal Chinese detention stations in Toronto. This is just the latest in a string of cases around the world where China has been accused of overstepping to persecute its citizens beyond its borders. Indeed, unlawful Chinese detention centres have been discovered elsewhere around the world, including in the Netherlands only a few days ago.
Why it Matters:
The revelation that China has been actively interfering in Canadian elections is likely to intensify concerns about the scope of foreign intrusion in domestic politics.
This news comes on the heels of reports that Beijing could have been involved in elections worldwide. While it is unclear if these attempts have been successful, they represent a severe threat to democracy.
FOOD FOR THOUGHT
Proverb of the Day
“If you pick up one end of a stick, you also pick up the other."
— Ethiopian Proverb.