🔅 Queen Elizabeth
Africa is the next frontier of fashion.
Good morning. Yesterday, Queen Elizabeth II passed away, at the age of 96.
Markets Today
📈 Johannesburg Stock Exchange: 13,482.77 (+1.98%)
📈 Nigerian Stock Exchange: 49,680.42 (+0.06%)
📉 Nairobi Securities Exchange: 144.05(-2.19%)
📈 S&P 500: 4,006.18 (+0.66%)
📈 Shanghai Composite: 3,262.05 (+0.82%)
🇸🇳 Senegal: 4.8 billion worth of liquefied natural gas is scheduled to come online in the third quarter of 2019, and will probably be transferred to Europe and Asia. During its initial phase, the project will likely produce 2.5 million tonnes of LNG yearly.
Oil & Gas
Nigeria is no longer #1
Nigeria is no longer Africa’s number one crude oil producer, according to the latest monthly production output report by the Organisation of Petroleum Exporting Countries (OPEC). The number one spot was overtaken by Angola, which pumped 1.17 million barrels of crude daily in August, more than the 1.13 million by Nigeria in the same month.
But this wasn’t unexpected, seeing as Nigeria's crude oil output has been declining steadily in recent years. Pipeline vandalism and oil theft mean that Nigeria exports less crude oil, with workers threatening to strike if the government doesn’t address these issues. A report published recently by the National Bureau of Statistics (NBS) showed that the oil sector in Nigeria contributed virtually nothing to the country's 3. 54% GDP growth in Q2 2022.
Across the Continent
Headlines
🇹🇿 Tanzania denies freezing export permits: News broke out on Wednesday that Kenyan traders were denied new maize export permits, which allow them to import the essential product from Tanzania. Several Kenyan grain millers reported that the scarcity of flour and maize resulted from this ban.
🇦🇴 Angola’s constitutional court validates election: Adalberto Costa Junior, the head of the major opposition party, contests the results, which give UNITA 90 MPs—double the number of seats they gained in 2017—and leave him just 7% short of Lourenço's vote total of over 51%. In a statement released on Thursday, five opposition parties—including UNITA—said they were thinking about holding "peaceful" protests to challenge the election results.
🧥 Africa is the next frontier of fashion – Vogue boss: “Africa is the next frontier” of fashion and the industry on the continent is “so exciting”, British Vogue`s editor-in-chief, Edward Enninful, said. Earlier this year, Mr Enninful was praised for a Vogue front cover he commissioned which featured all African models.
Around the World
Queen Elizabeth has died
TV screens in Africa interrupted their regular programming Thursday night to announce the passing of Queen Elizabeth II. Tributes immediately began to pour in over the UK`s longest-serving monarch's death and in Africa where the impact of her reign has left an indelible mark on former colony nations.
Queen Elizabeth died aged 96, and became, through the course of her long reign not only the oldest sovereign in the UK’s history but also its longest serving. Her reign encompassed a period that saw some of the greatest changes in technological development, industrial, economic and social life across the world of any era. As Queen, she was an integral part of the country and its institutions: one of the best-known women and national leaders in the world, photographed, painted, filmed, depicted, lauded – and occasionally ridiculed – from the time she became heir to the throne, at the age of 10, in 1936, to the end of her life.