🔅 Trevor Noah's Comeback, Kenya's Game-Changing Anti-Hunger Program, Zimbabwe's Election Fever, And more...
From Comedy to Conversation: Trevor Noah's Unfiltered Talks, Kenya's Fight Against Hunger, Heartbreaking Migrant Tragedy, Zimbabwe's Electoral Showdown, and DP World's African Ambitions!
Photo of the day: Yamoussoukro, Côte d’Ivoire
Markets:
🔴 Nigerian SE: 59,211.26 (-0.19%)
🔴 Johannesburg SE: 75,105.79 (-0.69%)
🟢 Ghana SE: 2,700.91 (+2.63%)
🟢 Nairobi SE: 106.90 (+1.53%)
🟢 US S&P 500: 4,381.89 (+0.37%)
🔴 Shanghai Composite: 3,197.90 (-1.31%)
Global Markets: UK Raising Interest Rates | The Bank of England has been steadily raising interest rates for the last 13 months, and the latest surprise hike means that rates are now at their highest level in 15 years. This means that borrowers have to pay more for their loans, but savers can look forward to higher returns. In theory, raising interest rates makes it harder to borrow money, meaning people have less to spend and prices (which have been going through the roof) should come down. Unfortunately, so far the impact has been limited and it’s likely to take more time for the effects to be felt. The Bank of England is trying to strike a balance between curbing inflation and not damaging the economy too much.
*Data accurate as of the close of markets across the continent
Brief & Bright: Africa's Top Five Highlights
🎙️ Trevor Noah Talks Shop on Spotify | After wrapping up his last Daily Show episode six months ago, Trevor Noah is coming back with a bang—and this time, he’s talking shop on Spotify. The South African comedian and author just announced he’ll be launching a weekly podcast on the platform. “Meaningful conversations with some of the world’s most fascinating people” are on the docket, according to Noah.
🇰🇪 Kenya's Anti-Hunger Program: Kids Get a Meal, Economy Gets a Boost | Kenya’s biggest school meals program is about to start serving in August, with the goal of eliminating the shame of hunger in the country. Ten kitchens will be dishing out 400,000 lunches a day to kids in 225 primary schools and Early Childhood Development centres. It’s not just about the food—the program is also creating jobs, providing parents with a virtual wallet to pre-pay 15 shillings ($0.11) for each meal, and giving local farmers a market for their produce. President William Ruto said the government has already allocated 5 billion Kenyan shillings to the project, but could double that if more counties step up. Kenya is looking to make sure its kids get a meal and its economy gets a boost.
🌊 At Least 30 Migrants Drown off the Canary Islands | Another tragedy has struck the Atlantic Ocean. It's estimated that at least 30 migrants have drowned after their boat sank off the Canary Islands. The boat was reportedly carrying 60 people and a Spanish rescue service ship was close by—but they didn't get to the scene in time. Sadly, the Western Africa-Atlantic migration route is one of the world's deadliest and, according to the UN's International Organisation for Migration (IOM), 543 migrants died or went missing on that journey in 2022. The news comes after another boat carrying hundreds of people sank off the Greek coast last week, with at least 78 known to have died. The UN's human rights office says that up to 500 people are still missing. Separately, Spanish authorities also rescued more than 160 people from three other boats near the islands of Lanzarote and Gran Canaria overnight on Wednesday and Thursday morning.
🇿🇼 Zimbabwe's Election Fever: Three's a Crowd | Zimbabwe’s presidential election is coming up in August. The country’s current president, Emmerson Mnangagwa, is looking to keep his five-year term. But he’s facing some stiff competition from Nelson Chamisa, the leader of the Citizens Coalition for Change, and Saviour Kasukuwere, a former Cabinet minister and top ruling party official who fled to South Africa after a 2017 coup. Mnangagwa has been accused of using repressive tactics to try and silence any opposition to his rule, but he insists Zimbabwe is a mature democracy. As tensions mount due to the country’s currency crisis, food prices, public health system, and lack of formal jobs, Zimbabweans are hoping this election will be peaceful. Zimbabwe has only had two leaders since it gained independence from white minority rule in 1980.
🇹🇿 DP World Expanding Their Reach: Making Waves in Tanzania | Looks like DP World, the container terminal giant based in Dubai, is looking to cast their nets further into East Africa. The company, which already has interests in Somalia, Eritrea, Djibouti and Mozambique, is in talks with Tanzania to manage seven berths at the nation’s main port of Dar es Salaam. So if all goes according to plan, DP World will be one step closer to ruling Africa's waves!
Food for Thought
“A flea can trouble a lion much more than a lion can trouble a flea.”
— Kenyan Proverb.
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