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Ghana offers to exchange $13 billion in international bonds as part of its debt restructuring plan. Bondholders have until September 30 to accept, with the new bonds set to be issued on October 9, 2024.
African countries face significant economic losses from climate change, despite low emissions. A new report highlights the continent's vulnerability and the urgent need for adaptation measures.
Chinese lenders approved $4. 61 billion in loans to Africa in 2023, the first annual increase since 2016. This shift indicates a new strategy focusing on risk mitigation and financial institutions, amid changing global economic conditions.
Namibia plans to cull 723 wild animals, including elephants, to address food insecurity caused by severe drought. The meat will be distributed to struggling communities as part of drought relief efforts.
Nine men perished in an illegal quarry operation near Lusaka, Zambia. The incident highlights ongoing safety concerns in the country's informal mining sector, prompting an official investigation.
The World Bank's mission to reduce global poverty faces scrutiny as progress stalls in the poorest nations. Despite overall poverty reduction, the "bottom billion" countries continue to lag behind, prompting calls for institutional reform.
The World Bank's efforts to reduce global poverty face scrutiny as the "bottom billion" continue to struggle. Despite successes in emerging markets, the institution's approach and leadership are questioned amid changing economic landscapes.
Africa faces climate change impacts despite minimal emissions. Current policies fail to address this disparity. A new approach is needed, balancing development needs with emission reduction efforts.
El Nino-induced drought devastates Southern Africa, impacting 68 million. SADC leaders meet in Harare to address food security and regional issues amidst insufficient humanitarian aid.
Zambia and Congo agree to reopen their shared border following protests over a Congolese ban on imported drinks. The closure briefly disrupted a crucial copper export route for the region.
Zambia closes border with Congo over import ban, affecting mineral exports. Commerce minister flies to Congo for urgent talks to resolve the trade dispute and reopen crucial trade route.
The World Food Programme faces challenges in raising $400 million for drought relief in southern Africa, collecting only one-fifth of needed funds. El Niño-induced drought has dramatically increased food needs in the region.