Global financial bias costs Africa $75 billion annually
African countries face inflated borrowing costs and lost revenue due to misjudged risk assessments.
Research shows Africa's sovereign default rates align with similarly-rated regions, yet debt trades at higher spreads.
Africa records lower default rates on infrastructure loans compared to global averages.
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IOL News
2 hours ago
- IOL News
Jacob Zuma Morocco visit
Algerian Minister of Foreign Affairs meeting the ANC SG Fikile Mbalula, while the flag is displayed Image: Supplied In a press statement published on the 6th of August 2025, DIRCO has registered 'its strong objection and concern regarding circumstances around the recent visit of an eminent South African leader, former South African President Mr Jacob Zuma, who is the Leader of the Umkhonto We Sizwe Party, to Morocco on the 15th of July 2025'. Whilst recognising and respecting the sovereign right of Morocco to invite individuals and groups, DIRCO stated that 'it strongly protests the use of South African national symbols, in this instance the use of the South African National Flag, in the meeting between Mr Jacob Zuma and the Foreign Minister of the Kingdom of Morocco'. This statement, which has been published three weeks after the visit, uses the excuse of the flag previously mentioned in the ANC press release concerning the visit of the previous Head of State to criticise the presence of the latter in Morocco. Indeed, the hypersensitivity of DIRCO and its unusual and exaggerated reaction raise several questions about the priorities of Foreign Policy in our country, especially during these tough times. Amidst the recent punitive Trump Tariffs, the focus should be to mend the trade relationship to assert the economic diplomacy plan that was adopted by DIRCO, DTIC and the Ministry of Finance. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Nonetheless, DIRCO took time among these huge trade problems with the USA that threaten our national interest to publish a press release concerning the visit of the former Head of State. This is not the first trip undertaken by Jacob Zuma as the former head of state outside of South Africa. It is indeed worth mentioning that M. Zuma has been invited this year to the inauguration ceremonies of both newly elected Ghana and Gabon presidents in his capacity as an ex-President of South Africa. During those two trips, M. Zuma received a warm welcome from the authorities of those two African countries without sparking any reaction from DIRCO. During his trip to Morocco, M. Jacob Zuma, who voiced his party's support for the autonomy proposal over the Sahara, has been very clear in his address, stating that it was his party's view and not of the State, thus closing the debate about any confusion regarding the South African Government's position concerning the conflict. This position expressed by MK was not a surprise at all. The South African Party published, nearly two months ago, a detailed document named 'A strategic Partnership for African Unity, Economic Emancipation and Territorial Integrity: Morocco', in which it detailed its stance concerning Morocco and the Western Sahara conflict In this document, Umkhonto WeSizwe stated that: 'Commitment to sovereignty: Morocco's efforts to reclaim its full territorial integrity align with the MK Party's commitment to preserving the sovereignty and unity of African states. This resonates more than ever with South Africa as our country battles against internal forces aiming at breaking our country's territorial integrity. Thus, MK party remains steadfast in defending the territorial integrity of South Africa as a sacrosanct principle of its foreign policy'. This statement of MK brought to light the inexistence of a consensus concerning the issue of Western Sahara among the political sphere in South Africa. It is also worth recalling that when the ANC reacted to the position expressed by MK concerning Western Sahara citing 'the right of Self-determination of Western Sahara', the separatist movement 'cape independence' published, on the 20th July 2025, a tweet saying:' Hypocrisy Alert! ANC pushes for Western Sahara independence while denying Western Cape & other SA groups the same right to self-determination. What's good for one isn't good for all?'. Coming back to the issue of the flag, well-informed cadres among the MK party said that 'The South African flag displayed during Mr. Zuma's visit was done at his express request, as a gesture of honour and respect for his position as a previous Head of State'. Moreover, it is universal practice for national flags to be present in nongovernmental contexts and engagements: sporting competitions, cultural events, civil forums, etc, added the cadres of MK. Thus, the DIRCO statement raises the issue of the use of the national flag by South African citizens, organisations and political parties in General. Expressing concerns over this issue, the spokesperson of MK, M. Nhlamulo Ndhlela, said that 'Mbalula, on his visit in 2023 in Algeria, had a national flag of South Africa in a picture taken with him and the foreign minister of Algeria and DIRCO said nothing. Why now? The ANC and its GNU do not own the South African flag; it belongs to South Africans, and President Zuma is a South African, and a former head of state'. On the details of Zuma's trip to Morocco, IOL was able to confirm that the visit was prepared with the involvement of the South African Embassy in Rabat, which officially asked the Moroccan authorities to grant Mr. Zuma protocol treatment. Under these conditions, some experts contacted by IOL declared that it is 'totally contradictory for the South African authorities to request that Mr. Zuma be treated as a high dignitary, only to criticise the use of the South African flag during his visit'. It is worth noting that all the previous Heads of state in South Africa, when they undertake a trip abroad, are asked to communicate all the details of their trip to the State protocol, who then inform DIRCO to take all the measures to coordinate with the relevant authorities of the country all the aspects of the visit including the protocol. The aspects raised above are just a reflection of the existing deep disagreement of different South African political parties with the ANC's foreign policy, which has sparked a big debate about the national foreign policy of South Africa and the actual existence of a consensus around its priorities. Indeed, the DA, which is a partner of the ANC in the GNU, has undertaken, in March 2025, a trip to the USA, which was officially communicated by the previous DA Spokesperson on International Relations & Cooperation, Mrs Emma Powell, in total contradiction with the official position expressed by the South African Government and DIRCO.
Hindustan Times
3 hours ago
- Hindustan Times
Prince Harry eyes new charity after Sentebale dispute: ‘Absolutely committed'
Prince Harry is considering establishing a new African charity after stepping down as the patron of Sentebale, a humanitarian organization he co-founded in 2006 with Prince Seeiso of Lesotho in memory of their mothers, reported The Guardian. The charity supports children and young people in Lesotho and Botswana, particularly those affected by HIV and AIDS. Prince Harry is mulling over starting a new charity in Africa after Sentebale row(REUTERS) In March, Harry and Prince Seeiso, alongside several trustees, resigned, citing an 'untenable' relationship with the chair. The decision to exit the charity followed a high-profile dispute with Sentebale's chair, Dr Sophie Chandauka, who had previously accused the Duke of Sussex of bullying and harassment: allegations the UK Charity Commission later said it could not substantiate. Also Read: Prince Harry 'punched Andrew in the face' in shocking Royal Family fight, new book claims UK Charity Commission's rebuke According to the Daily Mail report, earlier this week, the Charity Commission published its findings. They said they found no evidence of systematic bullying, misogyny, or misogynoir (discrimination against women of African descent) at Sentebale. However, it acknowledged a 'strong perception of ill treatment' felt by some. The regulator criticized all parties for allowing the row to 'play out publicly' but said it could not intervene in internal disputes. The Daily Mail report added that in spite of the findings, Dr Chandauka and the board were permitted to remain in place, a decision that sources told the publication devastated Prince Harry. All options on the table The Duke's spokesperson confirmed on August 10 that Harry is 'absolutely committed' to continuing his work in southern Africa, reported The Guardian. In their statement, they said that Prince Harry has not yet made a decision and is considering either supporting pre-existing charities in the region or establishing a new charity. The publication quoted sources suggesting Harry and Prince Seeiso may even partner again on a fresh venture. Also Read: Prince Harry says he wants 'reconciliation' with royal family Governance concerns and funding issues Threats had been building for months, stated a Daily Mail report, including wrangles on consultancy fees and fundraising priorities. Later, the Lesotho center for children seemed to be in financial crisis and was "effectively mothballed." The resigning trustees expressed deep concern for Sophie Chandauka's future, accusing the regulator of ignoring key evidence. FAQs Q: Why did Prince Harry leave Sentebale? A: Harry resigned as patron in March 2025 after a breakdown in relations with the charity's chair, Dr Sophie Chandauka, supporting other trustees who also stepped down. Q: What will Harry do next? A: He is considering either setting up a new charity or working with existing organizations in Lesotho and Botswana. Q: Who is Prince Seeiso? A: Prince Seeiso of Lesotho co-founded Sentebale with Harry in 2006 and resigned alongside him in 2025.
CAF
4 hours ago
- CAF
Kenya's McCarthy turns Mourinho lessons into CHAN masterclass against Morocco
When the final whistle blew in Nairobi, the noise was deafening — not just from the crowd at the Moi International Sports Centre, but from the disbelief echoing across African football. Kenya, making their debut at the African Nations Championship (CHAN), had just taken down two-time champions Morocco 1-0, playing half the match a man short. It wasn't just an upset. It was a tactical heist — and the architect was none other than Benni McCarthy, a man who once learned the dark arts of defensive survival from José Mourinho himself. From Kasarani to the Champions League Playbook The decisive moment came in the 42nd minute, when Ryan Ogam pounced on a loose ball and drilled it past Morocco's El Mehdi Al Harrar, sparking wild celebrations in the stands. But barely two minutes later, the match turned on its head. Midfielder Chrispine Erambo was initially booked for a challenge on Anas El Mahraoui, only for VAR to intervene and upgrade the punishment to a straight red. Kenya would have to defend their lead for the entire second half with 10 men against one of the continent's most decorated CHAN teams. For most coaches, that would be a nightmare. For McCarthy, it was a familiar chapter from the Mourinho playbook. 'I played under a certain manager — José Mourinho — the master of such game management,' McCarthy said at the post match press conference. 'To play with 10 players is hell, but we used to do it as if it was routine. I learned the trade from him: where to tighten, who to sacrifice.' The Mourinho Method — Kenyan Style McCarthy's résumé under Mourinho includes a Champions League title with Porto and countless matches where victory was built on defensive grit. On Sunday, he dipped deep into that experience. 'It's not always neat for the fans, but you cling on to your lead at any cost,' he explained. 'Defenders may be required to do midfielders' or strikers' work. That's what I learned from José — when you lose a player, you send off a striker, keep one workhorse up front, and the others 'park the bus'… or in our case, park a train and a bus in front!' And that's exactly what Kenya did. Bryne Omondi, already outstanding in the 1-1 draw with Angola, was unbeatable against Morocco, producing a string of saves to frustrate the Atlas Lions. Behind him, centre-backs Sylvester Owino and Mike Kibwage blocked everything in the air, while full-backs Siraj Mohammed and Lewis Bandi shut down Morocco's wide threats. Déjà Vu After Angola Drama Remarkably, this was the second match in a row Kenya had to endure with 10 men. Against Angola, midfielder Marvin Nabwire had also seen his yellow card upgraded to red, forcing McCarthy's side to grind out a draw. 'Believe me, I'd have been happy to finish with 11 men,' McCarthy admitted. 'Unfortunately, it's two games on the bounce. Today was even more unlucky — the player went to clear the ball, completely missed it, and struck the Moroccan player on the shin. It was an accident.' Despite the numerical disadvantage, the Harambee Stars have remained unbeaten at CHAN — with two wins and a draw from their first three matches. The Fans Come Second — For Now McCarthy is aware that his brand of pragmatic football might not win style points, but for him, the bigger picture is what matters. 'Our primary goal is to bring success to the country, not to please every individual,' he said. 'If you are in the lead, you protect at all costs.' The coach's player selections have also sparked debate, but McCarthy remains firm in his conviction. 'Those are the players that you've seen and you see the qualities and where they can take the team. Do you risk taking someone based on a couple of good games or knowing what you're going to have when you've seen players? We know everyone is not going to be happy… but I know talent when I see one.' Historic Path Ahead The win puts Kenya on the verge of a historic quarter-final place in their tournament debut. Victory against Zambia in their final group game would guarantee top spot in Group A; even a draw could be enough. Morocco, on the other hand, must now regroup to avoid an early exit. For a team with a 14-match unbeaten CHAN run and a reputation for silencing hosts, Sunday was a sobering reminder of the competition's unpredictability. For McCarthy, it was personal as well as professional. The former South African striker scored against Morocco at AFCON 1998; now, nearly three decades later, he has engineered a victory that could reshape Kenyan football's place on the continental map. 'This is the art I learned under Mourinho,' he said, smiling. 'It's come in handy these last two games, but I'm praying that against Zambia — no yellow cards, no red cards, please.'
