here's your latest african news africa wide u.n launches a fund to foster cheap loans
green development for africa the united nations on wednesday launched a new finance mechanism
aimed at saving african governments 11 billion dollars in borrowing cost in the next five years
while fostering green investment and sustainable development the u.n economic commission for africa
launched the liquidity and sustainability facility at the 26th session of the conference of parties
the global climate conference underway in glasglow scotland international investors with portfolios
containing african government bonds will be able to approach the lsf for short-term loans known
as repos using the bonds as collateral enhancing investors ability to turn those bonds into cash
at short notice known as liquidity this would make the bonds less risky and therefore more attractive
to a wider range of investors african governments would then benefit from more demand and enhance
liquidity for their bonds as well as cheaper financing cost the lsf said it could potentially
save african governments up to 11 billion dollars in borrowing cost over the next five years
south africa south africa's anc set for worst post-appetite results in local polls
south africa's ruling anc party on tuesday looked set to deliver its worst ever electoral
performance since the end of appetite with support expected to dip below 50
in local government polls with more than 50 percent of polling stations reporting following
monday's fiercely contested elections the african national congress took it slightly under 46
of the vote according to electoral commission figures voters were called to elect local
representatives responsible for hot button issues including electricity housing water and sanitation
egypt egypt's government start moved new capital the egyptian government will start the process in
december of moving offices to a new administrative capital located east of cairo a spokesman for the
presidency said on wednesday president abdel fattah al-sisi directed the government to start
the actual transfer to the government district in the new administrative capital starting in
december for a trial period of six months the new capital is designed as a high-tech smart
city to accommodate 6.5 million residents and ease congestions in cairo the city will
include a government district a business district vast parks and a diplomatic district zimbabwe a
zimbabwean student at cardiff university crowdfunds 24 000 pounds for course fees
a medical student who faced dropping out after falling behind on tuition fees has crowdfunded
twenty four thousand pounds in six days to help pay them off maz vita manzai a fourth year cardiff
university student said she had become overwhelmed by the fees and it was affecting her mental health
it took tick-tock dances and social media sharing to reach her target the 21 year old
said mazvita said she was so humbled by the response she said she was not able to talk to
her mother because they were both worried about an outstanding fee of 5 000 pounds for her third year
as well as how to pay for the fourth year cardiff university's fee for international
students studying medicine in mazvita's entry year is 35 000 pounds per year guinea the party
of the former guinean president holds the first conference since the military takeover
the rpg party of former president alfa conde held its first conference in conocry since the military
took power in september at the conference the former president of the national assembly damaro
kamara asked for alfa conde's release given his age the transitional government is not insisting
on a timeline for elections on the other hand the opposition is insisting the election should be
held in a timely manner the crew surprised most ghanaians even though it was preceded by months
of tension sparked by conde's controversial decision to seek a third term in october 2020
algeria algeria accuses moroccan forces of killing three amid tensions the algerian president said
wednesday that three algerians were killed by a military strike on their trucks and it accused
moroccan forces in the disputed western sahara of being behind the attack the trucks were travelling
from the mauritanian capital noctur towards the algerian city of urugula as part of normal
commercial exchanges when they were attacked the algerian president said in a statement citing
unspecified evidence it stayed moroccan forces in western sahara were responsible algerian
authorities are investigating what happened mauritania's army issued a statement denying
it target any algerian trucks tension between algeria and morocco have been exponentially
high in recent months the two countries in north africa broke diplomatic relations in august over
a standoff that largely centers on the western sahara a formerly spanish colony annexed by
morocco in 1975 algeria backs the western sahara independence movement polisario on
sunday energy-rich algeria shot off a gas pipeline that fuels morocco and spain heightening tensions
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