🔅 Olympic Controversy: Aya Nakamura vs. The Far-Right & IS's Cryptocurrency Tactics
Plus: South Africa's Grey List Gymnastics: A Financial Fitness Test
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Paris Olympics vs. The Far-Right: Aya Nakamura's Cultural Crossfire
The organizing committee for this summer’s Olympics has tapped Aya Nakamura, a Malian-French pop sensation, to serenade the world with a rendition of an iconic Édith Piaf's classic at the opening ceremony. Sounds like a recipe for harmony, right? Not according to some far-right party crashers.
Les Natifs have beef with Aya Nakamura's slated performance, and at an event they held banners with messages like, "There's no way Aya, this is Paris, not the Bamako market."
The Paris Olympics committee, caught off-guard, denounced the "racist attacks," with support rallying behind Nakamura, including from some French MPs and the Sports Minister.
Les Natifs have expressed fear of an "Africanization" of French culture, seemingly forgetting that culture, like good wine, gets better with a blend of flavours.
The Virtual Finance Front: IS's Cryptocurrency Campaign in Africa
Terrorist organizations like the Islamic State (IS) are getting tech-savvy, turning to cryptocurrencies such as Tether to fund their not-so-charitable endeavours.
According to the Counter ISIS Finance Group, a band of nations playing financial whack-a-mole with IS, these digital currencies are the new hotness for moving money discreetly. While old-school cash couriers remain in vogue for the group, its African affiliates, particularly in West Africa, are now embracing the anonymity of virtual assets for their transactions.
This shift to digital is part of a broader trend of terrorist groups modernizing their operations, leveraging the global reach and opacity of cryptocurrencies to sustain their activities without drawing too much attention—financially speaking.
Visual: Consumption of Meat Across the Continent
South Africa's Grey List Gymnastics: A Financial Fitness Test
Last year, the International Financial Action Task Force (FATF) put South Africa on the financial "grey list." This is akin to being on a watchlist for countries that need to bolster their defences against money laundering and terrorism financing.
Yet, Lesetja Kganyago, South Africa's central bank governor, is confident that South Africa will shake off this "costly episode" by next year, thanks to all the efforts being put into fixing the issues. At a financial sector conference, Kganyago emphasized teamwork because when the integrity of South Africa's financial system is compromised, he says, everybody feels the pain.
So far, South Africa has ticked off 5 out of 22 action items on FATF's workout plan. But with 17 more to go and the next review looming in February 2025, it's a race against time. Remaining on the grey list would potentially slow down efforts to secure funding, adding more pressure to Africa's most advanced economy, which only managed a 0.6% growth spurt in 2023.
Food for Thought
“Even the lion, the king of the forest, protects himself against flies."
— Ghanaian Proverb