🔅 The Countries Getting Ready to Vote in 2023: 8 Key Presidential Races and Counting.
Today’s Issue: US-China tensions play out in Africa, Reputation Poll International's list of the continent's most reputable individuals, and car bombs in Somalia.... ☕
Photo of the day: Malian singer and multi-instrumentalist Ali Farka Touré (1939 - 2006) performing in Nottingham, England, 1987.
Markets:
🔻 Nigerian SE: 50,868.52 (-1.53%)
🔺 Johannesburg SE: 75,396.58 (+1.11%)
— Ghana SE: 2,444.25 (0.00%)
🔺 Nairobi SE: 127.32 (+0.30%)
🔻 US S&P 500: 3,808.02 (-1.17%)
🔺 Shanghai Composite: 3,155.22 (+1.01%)
Global Markets: We all knew that Amazon was on the brink of significant job cuts - the company had hinted at it before - but now it's official: 18,000 people are getting the axe, making this the largest layoff in Amazon's history. CEO Andy Jassy said the uncertain economy was to blame. While Amazon isn't the only tech giant making cuts - Facebook, Twitter, Salesforce, and Meta have all recently announced big layoffs - it's the largest.
Nigeria: The country has decided to keep its petrol subsidy until mid-2023. The government has set aside a hefty $7.5 billion to fund the programme, which has been going strong since January. This isn't the first time Nigeria has tried to cut or remove the subsidy, but it's been a political minefield for successive governments. The World Bank has called for the country to stop subsidising petrol, electricity, and foreign exchange, claiming these primarily benefit wealthy households.
*Data accurate as of the close of markets across the continent
POLITICS
The Countries Getting Ready to Vote in 2023: 8 Key Presidential Races and Counting.
2023 will be awash with elections across Africa: a bunch of countries on the continent are holding elections this year, with presidential elections being the big ones to watch out for.
Nigeria's elections are important because they could determine its counter-terrorism policy. To ensure the voting goes off without a hitch, the government is deploying 10,000 extra police officers to the 176,846 polling stations.
In the Democratic Republic of Congo, President Felix Tshisekedi is up for re-election and he's got a tough job ahead: improving relations with neighbouring countries (read Rwanda) and curbing the violence of rebel groups.
And in Zimbabwe, President Emmerson Mnangagwa will be trying to lift the country out of the sanctions imposed on it during the Mugabe-led era.
Elsewhere, Liberia's George Weah is up for re-election, and it's not going to be easy for him: he's been accused of over-travelling out of the country and not paying enough attention to the country's economic woes.
In Gabon, Ali Bongo will also seek re-election despite the ongoing debate about his health.
Sierra Leone, Madagascar and Sudan are also scheduled for elections, although the security situation may delay the latter's process.
OTHER HEADLINES
Across the Continent
🏆 Calling all outstanding Africans! Reputation Poll International is celebrating the continent's most reputable people with a list of individuals from various industries, including governance, human rights, education, entertainment, and business. Click here to see who in your country made the list.
🌍🇺🇸🇨🇳 In 2023, Africa will continue to be one of the main arenas in which the US and China will size each other up. The US calls China a "predatory lender" for offering African nations billions of dollars in loans. But a new study says that China's approach to lending may not be as savvy as they thought. Zambia and Ghana, two of China's biggest African debtors, have already stopped making payments, leaving the Asian giant with an $84 billion debt on its hands.
🇲🇱🇨🇮🇹🇬 Mali is escaping sanction over the detention of Ivorian soldiers. Back in July, 46 Ivorian soldiers were arrested in Mali and accused of being "mercenaries". The West African bloc ECOWAS had threatened to sanction Mali if the soldiers weren't freed by January 1st, but the date came and went without action. So what gives? It turns out that Togolese President Faure Gnassingbe has been mediating the situation, and he recently paid a "friendly working visit" to Bamako to try and sort things out. He reportedly called for a "presidential pardon" for the troops, and Ivorian President Alassane Ouattara promised they "will soon return to Ivorian soil".
🇸🇴 On Wednesday, two car bombs set off by al Shabaab militants killed at least 35 people and injured 40 more in the town of Mahas in Somalia. The al Qaeda-affiliated group claimed responsibility, saying it had targeted "apostate militias and soldiers," but most of the dead were civilians, including women and children. The attack was just the latest in a series since government forces and allied militias started pushing al Shabaab out of their territory last year. Al Shabaab has been waging an insurgency against Somalia's government since 2007, and its activities have restricted aid deliveries, compounding the effects of a severe drought.
FOOD FOR THOUGHT
Proverb of the Day
“The old woman looks after the child to grow its teeth and the young one, in turn, looks after the old woman when she loses her teeth.”
— Akan Proverb.