African spending challenged by debt cost rise
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Sub-Saharan African countries are being forced to reconsider development projects as the sell-off in emerging markets makes access to international finance increasingly unaffordable.
Last week, Ghana accepted a 10.75 per cent borrowing rate to raise $1bn on markets, a far higher yield than the country hoped to pay.
South Africa threatens to withdraw from ICC, alleging anti-African bias
South Africa plans to become the first state to withdraw its membership from the International Criminal Court (ICC), a ruling party minister said Monday, marking the latest and most serious threat against the court by African leaders who say it disproportionately targets the continent.
The ICC has “lost its direction” and South Africa’s ruling Africa National Congress (ANC) plans to withdraw, Obed Bapela, deputy minister in the Presidency, told reporters on Monday after an ANC policy meeting in the capital, Pretoria. The party came to the decision this weekend, Bapela said, and will soon call for the country’s parliament to debate the matter.
African troops arrive in SA
More than 5 400 troops from other African countries are expected to arrive in South Africa as of yesterday for exercise Amani Africa II.
The troops will participate in the African Union (AU) field training exercise Amani Africa II – a Kiswahili phrase meaning “peace in Africa” – set to take place at the SA Army Combat Training Centre (CTC) in the Northern Cape from October 17 to November 7.
The exercise is being conducted by the AU to evaluate the state of readiness of the African Standby Force (ASF) and its Rapid Deployment Capability (RDC) towards achieving full operational capability by December 2015.
Nigeria’s pan-African aspirations may change its dynamic with SA
A QUESTION Nigerians often raise in discussions about SA and its West African counterpart is why there are not more Nigerian companies investing here.
Where are the Nigerian banks, the food franchises, the supermarkets and IT companies? they ask. The diplomats are particularly exercised by the trade and investment imbalance. This, they say, reflects badly on the bilateral relationship.