🔅 Mediterranean's Deadliest Journey, Nigeria's Anti-Corruption Probe, Angola's Currency Woes, Uganda's Charcoal Ban, and Sahara's Salt Digging Tradition
Perilous Mediterranean migration routes, Nigeria's anti-corruption investigation, Angola's currency struggles, Uganda's charcoal ban controversy, and more...
Photo of the day: Road between Bobo Dioulasso and Banfora, Burkina Faso
Markets:
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🟢 Johannesburg SE: 78,531.81 (+0.60%)
🟢 Ghana SE: 2,639.42 (+0.17%)
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🟢 US S&P 500: 4,425.84 (+1.22%)
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South Africa's Money Woes: A Crisis for Domestic Investors | South Africa’s government is facing a bit of a pickle. It’s got to find a way to finance almost 1 trillion rand ($53 billion) of debt over the next three years, but the domestic investors it usually relies on are starting to get a bit wary as foreign investors have been backing away over the past few months.
*Data accurate as of the close of markets across the continent
Brief & Bright: Africa's Top Five Highlights
🌊 The Mediterranean's Deadliest Journey | Now onto a topic we do not cover nearly enough here at Baobab: The Central Mediterranean route is the deadliest in the world for migrants, and the situation just got a lot more tragic with the news of a shipwreck off the coast of Greece. 79 bodies have been recovered, but the actual number of people on board is still unknown, although it is estimated to be over 750. If it’s confirmed that hundreds of people were on board, this could be the deadliest wreck of the year. This migration route is used mainly by migrants from African countries, especially Ivory Coast, Egypt, Guinea, Pakistan, and Bangladesh. The International Organization of Migration notes that the number of migrants trying to reach Europe this way has been declining, but that hasn’t stopped the number of deaths in the Mediterranean from reaching a staggering 27,000 since 2014. This latest tragedy is a reminder of just how dangerous the Mediterranean can be.
🇳🇬 Nigeria's Anti-Corruption Boss on the Hot Seat | The new Nigerian president Bola Tinubu has put the head of the country’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), on the hot seat. Abdulrasheed Bawa has been asked to take a time-out while the government investigates the “weighty” allegations of abuse of office levelled against him. This is a fairly common practice in Nigeria—whenever a new president comes in, the head of the EFCC usually gets the boot. But in Bawa’s case, there have been a lot of corruption allegations against him since he took office in 2021. He denies all of them, of course, but one former governor recently accused him of asking for a $2 million bribe in an interview with BBC Hausa. Transparency International ranks Nigeria 150th out of 180 countries in terms of corruption, so let’s see if Bola Tinubu can make a dent in that number.
🇦🇴 Angola's Currency Collapse: Blame it on the Oil | Angola’s kwanza has been taking a beating lately—it’s Africa’s weakest currency against the dollar so far this year after a 21% plunge in the past month. Analysts say that low oil prices and increased debt payments are to blame for the central bank’s inability to prop up the currency. Oil accounts for over 90% of Angola’s exports, and since crude exports fell by 30% year-on-year in the first quarter of 2023, it looks like the kwanza will keep sinking. This currency slide is bad news for Angola’s inflation rate, and it’ll also make international debt payments more expensive. It doesn’t help that the country’s Economic Coordination Minister was recently fired after a failed attempt to remove fuel subsidies. So, if you’re a fan of Angola’s currency, you can blame it on the oil.
🇺🇬 Uganda's Charcoal Ban: Saving Trees or Stifling Livelihoods? | In northern Uganda, an age-old practice is now a crime. Charcoal production, which has long been a way for locals to make a living, is now banned due to fears of deforestation. While some Ugandans have taken up the cause to save the environment, others are protesting the ban because it threatens their livelihoods. Local authorities have been empowered to regulate activities deemed harmful to the environment, and the burning of charcoal is now a no-no. But, people are still producing charcoal and selling it illegally, and some corrupt members of the armed services are even protecting the charcoal truckers. The charcoal makers risk arrest and beatings if they’re caught, but for some, the reward is worth the risk. Charcoal is a preferred source of energy for households across the income spectrum, and it can be quite lucrative for the producers. In nearby towns, a bag of charcoal can fetch up to $14, and that price goes up even more as it gets closer to the capital. The debate continues in Uganda, with some standing firm in their efforts to save the environment, and others fighting to keep their livelihoods alive.
🇳🇪 In the Sahara Desert, Salt Digging is a Dying Way of Life | When most of us think of salt, we think of the shaker on the dinner table. But for some folks in the Sahara Desert, salt digging is a way of life. Salt is such a valuable commodity in the area that it’s bought and sold across the desert and beyond. So, Ibrahim Tagaji and his colleagues have been making a living in the salt pans of Kalala, near Bilma in northeastern Niger, for generations. It’s hard work, involving a lot of manual labour, but it pays off when the right buyers come along. “Every family has its own salt pan,” he says. “You are with your wife, your children, you come and work.” That said, this way of life is dying, and you can find out why by going through this stunning photo gallery.
Food for Thought
“Knowledge without wisdom is just like water in the sand.”
— Guinean Proverb.
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