🔅 The Boy Who Biked Across Africa, Viola Davis Joins Biden's Africa Council
Plus, Burkina Faso Interrupts Coup & Why Africa Got More Airtime at the UN This Year
Photo of the day
Fishermen, Ilha de Moçambique, Mozambique
Markets:
🔴 Nigerian SE: 66,448.63 (-0.31%)
🟢 Johannesburg SE: 72,174.14 (+0.39%)
🟢 Ghana SE: 3,166.42 (+0.21%)
🔴 Nairobi SE: 95.30 (-0.50%)
🟢 US S&P 500: 4,312.36 (+0.89%)
🟢 Shanghai Composite: 3,110.48 (+0.10%)
Evergrande's Stock Suspended Amid Chairman's Police Surveillance: Things are not looking great for Evergrande, the Chinese property giant with a massive $300 billion debt. First, they defaulted in 2021, triggering a real estate crisis in China. Then they filed for bankruptcy in New York. And now, their shares have been suspended in Hong Kong after reports that their chairman and other executives have been placed under police surveillance. Evergrande - once valued as the world's most valuable property developer - is in deep trouble, and the world's second-largest economy is feeling the heat.
*Data accurate as of the close of markets across the continent
Brief & Bright: Africa's Top Five
Biking Across Africa for Education: A Journey of Faith and Determination
This is not your typical study abroad story. Mamadou Safaiou Barry, a 25-year-old from Guinea, couldn't afford a plane ticket to Egypt to study Islamic theology, so he hopped on a second-hand mountain bike after drawing a map of Africa in his notebook. Four months and seven countries later, he arrived in Cairo with a full scholarship to Al-Azhar University. Along the way, he faced challenges like being detained by security forces and sleeping in the bush for fear of having his bike stolen. And when he reached Chad, a philanthropist who had read about his journey online offered to fly him directly to Egypt so as to avoid conflict unravelling in Sudan. Barry arrived in Cairo on Sept. 5 and days later secured a full scholarship to Al-Azhar. Barry is determined to return to Guinea after his studies to spread the faith that took him on this incredible journey.
Coup, Interrupted: Burkina Faso's Military Thwarts Attempt to "Throw Country into Chaos"
Burkina Faso’s military government announced on Wednesday that they had successfully stopped a coup attempt and were on the hunt for those responsible. This is just the latest in a series of military takeovers in the country, with the current junta seizing power in September 2022, which was itself the second coup of that year. The current leaders came to power accusing the elected government of not living up to their promises of tackling insecurity, but they have also been unable to bring stability to the country. The government did not provide much detail on the attempted coup.
Viola Davis and Other Celebs Join Biden's Council on African Diaspora Engagement
Biden has announced the first members of his President’s Advisory Council on African Diaspora Engagement, and the list includes some big names. Viola Davis, who recently joined the elite EGOT club (winning an Emmy, a Grammy, an Oscar and a Tony award), will be advising Washington on strengthening ties with African communities. The council will focus on promoting trade and investment, building educational exchanges, and more. The US announced the council’s creation in December during the U.S.-Africa Leaders Summit in an effort to counter China and Russia’s growing influence in the region.
Africa Got More Airtime To Air Its Grievances At The UN This Year
At the United Nations this week, smaller nations were finally given a chance to speak up and be heard. It was like that dinner party where the cool kids who usually dominate the conversation happened to skip the festivities this year. Those cool kids being the likes of Russia, China, France, and Britain, of course. That meant that the rest of the world got the space to air their grievances and concerns, and boy did they have a lot to say. From climate change to the need for a more diverse Security Council, the voices of the Global South are getting louder and hopefully won't be silenced any longer. And with Africa's population expected to double by 2050, with the continent being admitted as a permanent member to the G20, it might be time for the world to listen up. As Togo's foreign minister put it, "We are weary at your condescension. We are weary of your arrogance. We are weary. We are weary. We are weary.”
Tanzania's Electricity Shortfall
Tanzania is experiencing a 400-megawatt shortfall caused by maintenance issues and climate change-induced water shortages. Yep, Mother Nature strikes Africa hardest again. And it’s not just a minor inconvenience—power rationing is in effect across the country. The government is trying to fix it with new power projects like a 150 MW solar farm and a 2,115 MW hydropower dam. But climate change is making it hard to keep up with the demand for power, with reduced water levels at existing dams. The government hopes to resolve the shortfall by March next year, but for now, expect some blackouts. Even though the country underwent the fastest electrification rollout in Sub-Saharan Africa, only 38% of Tanzanians have access to electricity, according to the World Bank.
Food for Thought
“If there is character, ugliness becomes beauty; if there is none, beauty becomes ugliness.”
— Nigerian Proverb.