🔅Guinea's ex leader under trial
More than 150 people were killed, and women and girls were raped.
Good morning ☕
In today’s issue, China’s Yuan hit a record low, Guinea’s ex-military leader is under trial, and Botswana seeks to double its energy exports…
Markets Today*
📉 Nigerian Stock Exchange: 49,171.70 (+0.02%)
📉 Johannesburg Stock Exchange: 12,540.63 (-0.58%)
📉 Nairobi Securities Exchange: 131.48 (-1.82%)
📈 US S&P 500: 3,703.25 (+1.53%)
📉 Shanghai Composite: 3,045.07 (-1.58%)
*Market data accurate as of close of markets the previous day.
China's yuan hit a record low against the surging US dollar, trading at its lowest level since data became available in 2011. Stock market indexes across Asia also fell sharply. It comes as the dollar continues to rise in value against other global currencies, including Africa’s, as the US central bank continues to raise interest rates at an unprecedented pace.
SECURITY
Guinea’s ex-military leader on trial
Moussa Dadis Camara, Guinea's former military ruler, is on trial for committing one of the country's greatest atrocities. During a 2009 protest against military control, more than 150 people were killed, and women and girls were raped.
Ten other former officials are on trial alongside Captain Camara, who is charged with having responsibility over the soldiers who committed the alleged crimes.
On the day of the fatalities, September 28, 2009, security personnel allegedly attempted to block a march by cutting off exits to a stadium in the capital, Conakry, before opening fire. Some demonstrators were killed by gunfire or knife attacks. Women were raped.
Rape victims are frequently stigmatized in Guinea, and it is claimed that many victims of sexual assault in stadiums have not come forward as a result. A committee was formed in 2018 to organise the trial, but concerns were expressed about the lack of progress because it did not convene on a regular basis.
According to the rights organisation Human Rights Watch, the long-delayed trial will be the first in Guinea involving human rights crimes on this scale.
Captain Camara, 58, took office after long-time President Lansana Conté died in 2008, but he was deposed and fled the country not long after the Conakry killings and an assassination attempt. He was in Burkina Faso until Sunday, when he returned to Guinea.
ACROSS THE CONTINENT
Other Headlines
🇳🇬 The campaign for presidency and National Assembly seats in Nigeria formally began this Wednesday, 150 days before the election. The Electoral Commission released the final list of candidates for national elections on September 20. There is just one female presidential contender among the 18 contestants. The electoral commission estimated that 95 million people would vote in the February election.
🇧🇼 Botswana President Mokgweetsi Masisi commissioned a new 1.4 million tonne per year coal mine at state-owned Morupule Coal Mine (MCM) on Wednesday, seeking to raise output by 50% following a surge in demand for the fuel since the start of the Ukrainian conflict. Despite the country's estimated 212 billion tonnes of coal deposits, MCM was the country's only operational mine until Minergy Ltd commissioned a new one in 2019 with a 1.2 million-tonne annual capacity. Given the global energy crisis, many European and Asian countries are looking for alternate fuel supplies, and Botswana aspires to become a major coal exporter.
🇳🇬 Royal Dutch Shell is expanding its worldwide renewables business by acquiring African solar supplier Daystar Power. Shell is one of Africa's most powerful oil producers, but the Daystar acquisition is the company's first in the power sector, highlighting its commitment to halving greenhouse gas emissions by 2030. Shell and Daystar both declined to comment on the transaction price. In 2022, Shell earmarked to invest $2 billion to $3 billion in renewables and energy solutions.
AROUND THE WORLD
Pipeline leaks connecting Russia and Europe cause by sabotage — EU
The EU has stated that leaks in two major gas pipelines connecting Russia and Europe were caused by sabotage, but has refrained from openly condemning Russia.
The EU has already accused Russia of leveraging gas supplies against it in retaliation for its support for Ukraine.
Neither pipeline is currently delivering gas, despite the fact that they both contain gas. Dan Jorgensen, Denmark's Energy Minister, predicted that the leaks would persist at least a week, until the gas seeping from the pipes ran out.
The Nord Stream 1 pipeline, which has two parallel sections, has not transported any gas since August, when Russia shut it down due to maintenance. Nord Stream 2, its twin project, was blocked after Russia invaded Ukraine in February.
FOOD FOR THOUGHT
Proverb of the Day
"There are no shortcuts to the top of the palm tree."
- Cameroonian Proverb.