🔅 UK's Rwanda Asylum Plan Blocked & African Opposition Leaders Unite
Plus: WHO's Insufficient Compensation, Gabon's Junta Plans, Zambia and Vedanta Reunite, And more.
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Eritrea
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🟢 US S&P 500: 4,518.43 (+0.51%)
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US Stocks Get a Boost as Inflation Slows Down | The S&P 500 had its best day this week since April. Turns out, US inflation is taking a dive, with the consumer price index showing a slower growth rate of 3.2% year over year in October (down from 3.7% in September). Even the “core” inflation gauge, which doesn’t include food or gas prices, was up at its slowest pace since September 2021. Wall Street is calling this a win in the battle against inflation, and the markets love it. The surge in stocks is a sign of renewed optimism that the Fed will ease up on interest rate hikes. Meanwhile, UK inflation fell sharply in October to its lowest rate in two years, primarily due to lower energy prices.
*Data accurate as of the close of markets across the continent
Brief & Bright: Africa's Top Five
Britain's Plan to Ship Asylum Seekers to Rwanda Fails
Britain's plan to send asylum seekers to Rwanda just got the boot from the Supreme Court. The judges unanimously rejected the government's appeal, saying that the migrants could be at risk of ill-treatment if sent there. This was a major blow to Prime Minister Rishi Sunak, who had made "stopping the boats" a key part of his platform. But with an election coming up and more than 27,000 people arriving on England's shores without permission this year, Sunak is feeling the pressure. Even his own party members are criticizing him for breaking promises and betraying the British people. And let's not forget the church leaders and the United Nations refugee agency, who all said this plan was flawed and immoral. Although the court said the Rwanda scheme is currently unlawful, they left open the possibility of it being resurrected in the future, saying "the changes needed to eliminate the risk of refoulement (the forcible return of asylum seekers to the country they originated and from where they could undergo persecution) may be delivered in the future, but they have not been shown to be in place now". The Rwandan government is not happy with the ruling, saying they are a safe country for asylum seekers. Looks like the plan sunk faster than a British summer.
WHO's Insufficient Compensation for Sexual Abuse Scandal in Congo
The World Health Organization has been in hot water after reports of sexual abuse and exploitation by its officials during the Ebola outbreak in Congo. The agency has paid a measly $250 to at least 104 women who say they were victimized, with the requirement that they attend training courses to receive the cash. Meanwhile, UN officials working in Congo make that amount in a single day. The WHO claims this payment is part of a "complete package" of support, but critics say it's just a sneaky way to avoid paying reparations. Many victims are still waiting for any kind of compensation, and one woman who did receive money said it wasn't enough to cover her expenses. And while the WHO has also helped with medical costs for children born as a result of the abuse, it's clear that they haven't done enough.
African Opposition Leaders Team Up to Fight Democratic Backsliding
A group of African opposition leaders, including Martha Karua from Kenya and Kizza Besigye from Uganda, have joined forces to tackle democratic backsliding on the continent. Their first stop? Senegal, where the main opposition candidate may be excluded from the presidential elections next year. The group is calling for Ousmane Sonko to be allowed to run, and they even went on a "fact-finding" mission to Dakar. But they couldn't meet with President Macky Sall or Sonko, who is currently under arrest and on a hunger strike. Senegal has been facing increased repression of opposition and dissent, according to a civic freedom watchdog. But the support of East African opposition leaders is giving hope to Sonko's party, Pastef, who are fighting for democracy. Senegal's presidential hopefuls need to collect signatures to run, but the government is making it difficult for Sonko to even obtain the necessary forms.
The Junta's Election Plans for Gabon
It’s been a rocky road for Gabon since a military coup ousted President Ali Bongo in August. Now, the junta is laying out its plans for the country’s future: elections in August 2025, a new constitution by October 2024, and a possible referendum by November-December 2024. However, they insinuate that these dates are subject to change. Moreover, not all of the other countries in West and Central Africa that have undergone coups since 2020 have ended up carrying out elections in a timely manner. Bongo was ousted only hours after the country's election centre announced his victory for a third term as president. Critics say the Bongo family has not shared Gabon's wealth with its 2 million people.
Zambia and Vedanta Make Up, Get Back Together
In a plot twist worthy of a romantic comedy, Vedanta Resources and the Zambian government have ended their messy breakup and are getting back together. After a long and bitter ownership battle, Vedanta has officially regained control of Konkola Copper Mines (KCM), with the government owning a 20% stake through ZCCM-IH. The couple’s relationship had been on the rocks since 2019, when the government seized the copper assets, saying Vedanta wasn’t investing enough. But now, with a $1.2 billion investment pledge from Vedanta, the government is ready to give the relationship another chance. Vedanta is owned by billionaire Anil Agarwal, who has promised to repair strained relationships with the community.
Food for Thought
“Advice is like a stranger; if he’s welcome he stays for the night; if not, he leaves the same day."
— Malagasy Proverb