π The Crater of Controversy: Ghana's $400m National Cathedral
Plus: How Africa's Universities are Rising in Global Rankings, Kenya's Money Woes, And much more... β
Photo of the day: Kinshasa, DRC
Markets: Year-to-Date
π» Nigerian SE: 51,028.62 (-0.29%)
π» Johannesburg SE: 78,500.86 (-0.38%)
β Ghana SE: 2,664.60Β (0.00%)
π» Nairobi SE: 107.84 (-0.75%)
π» US S&P 500: 4,130.98 (-0.57%)
π» Shanghai Composite: 3,367.03 (-0.09%)
*Data accurate as of the close of markets across the continent
ECONOMY
The Crater of Controversy: Ghana's $400mΒ National Cathedral
Ghanaβs national cathedral project has stalled since June due to a lack of fundsβ¦ but that hasnβt stopped people from talking about it.
The cathedral, which President Nana Akufo-Addo vowed to help build to the βglory and honourβ of God, has split believers into two major camps: those who want to see it built, and those who see it as a waste of state resources.
How much is it going to cost?
The cost was initially estimated at $100m, but it has now quadrupled due to inflation.
Most of the money so far has come from the national coffers, and Finance Minister Ken Ofori-Atta had promised it wouldn't βput undue financial burdens on the stateβ.
However, when the government requested $6.3m to continue the project, parliament blocked it, due to the countryβs economic crisis and its debt of $45 billion.
What's the point of it all?
The government argues that the cathedral is a strategic project that will bring economic benefits, creating jobs and accruing more revenue for the state.
The 5,000-seat auditorium would host national events like state funerals and presidential inaugural services, and it would also be home to Africaβs first Bible Museum and Documentation Centre.
But critics accuse the government of milking state coffers in the name of religion.
βWe should be building hospitals and schools,β actor and activist Yvonne Nelson says. βPeople are dying. I donβt think any Ghanaian is complaining about where to worship, but we complain about the health sector.
We complain about schools. For churches, we have many. God looks at the heart, and so letβs get our priorities right.β
Share Baobab with friends and colleagues for free daily updates on African business, money, and current affairs.
OTHER HEADLINES
Across the Continent
πΒ How Africa's Universities are Rising in Global Rankings |Β A decade ago, the head of the University of Cape Town, Max Price, wrote an article in Times Higher Education making a case for African universities to compete against the best in the world. Fast forward to today and Price can feel vindicated. In 2012, there were only four African universities in the global rankings. Now, there are 97! Five countries entered the rankings for the first time ever this year, all of them African. And Nigeria is the fastest-rising nation in the world for the impact of its research. Governments are providing more funding and resources to universities, and thereβs a culture of data collection and benchmarking thatβs driving universities to become more competitive.
π°πͺΒ Kenya's Money Woes: Will Govt Employees Get Paid? |Β Itβs a time of financial hardship in Kenyaβcivil servants, legislators, and ministers havenβt been paid since March, and the government needs $434 million just to cover salaries and pensions every month. Treasury Secretary Njuguna Ndungβu has warned of βtough times ahead,β and threatened employees have already gone on strike. But it looks like the countryβs been heading this way for a while. Deputy President Rigathi Gachagua pointed to the previous administrationβs βbig appetite for loansβ as the root cause of the crisis, while opposition leader Raila Odinga denied any involvement. David Ndii, chair of the presidentβs council of economic advisers, said the crisis was a βliquidity crunchβ and that the government had secured loans to get out of it. However, he also noted that corruption and wasteful spending have been draining the countryβs funds for years.
πΈπΈ Diplomats and Citizens Fleeing Sudan Amidst Violence | As violence between rival generals has continued for nine days, diplomats, staff, and citizens have been desperately seeking safety. Nations like the US and UK airlifted their diplomats out of the capital of Khartoum, while other Sudanese citizens took dangerous roads or crossed the northern frontier into Egypt. Saudi Arabia also sent a navy ship to evacuate 157 people, including 91 Saudis. With thick, black smoke filling the sky over Khartoumβs airport and a βnear-total collapseβ of internet and phone connections, itβs a tense time in the capital.
FOOD FOR THOUGHT
Proverb of the Day
βIn the moment of crisis, the wise build bridges and foolish build dams.β
β Nigerian Proverb.