Congo and Rwanda to sign US-mediated peace deal to end conflict in eastern Congo
DAKAR, Senegal — The Democratic Republic of Congo and Rwanda are set to sign a peace deal facilitated by the U.S. to help end the decadeslong deadly fighting in eastern Congo.
The deal, to be signed in Washington Friday, would also help the U.S. government and American companies gain access to critical minerals in the conflict-battered, mineral-rich region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News24
26 minutes ago
- News24
Botswana court clears Bridgette Motsepe-Radebe of corruption claims
Botswana's High Court ruled corruption claims against Bridgette Motsepe were false and defamatory. Ex-investigator Jako Hubona was ordered to retract and apologise for linking her to money laundering. Motsepe, linked to SA's first family, was cleared in a 2020 UK-led probe into the allegations. Botswana's High Court ruled on Friday that a former government investigator's claims of corruption against mining executive Bridgette Motsepe-Radebe were false and ordered an apology. Motsepe-Radebe is the sister of South Africa's first lady, Tshepo Motsepe, and billionaire Patrice Motsepe. She was caught up in claims in 2019 that she conspired with Botswana's former president Ian Khama to launder billions of dollars to be used to stoke political unrest and overthrow the stable southern African country's government. The allegations were judged in 2020 to be baseless in an investigation by a British law firm. Friday's High Court ruling was against an investigator with the government's anti-corruption agency, Jako Hubona, who had repeated the claims, according to details released by the court. READ | Motsepe-Radebe caught up in fresh fraud and money laundering scandal The court order said Hubona must retract a statement he made in 2019 that Motsepe-Radebe was a 'co-signatory to bank accounts in which funds allegedly stolen from the Bank of Botswana were laundered and implicated her in financing terrorism'. The statements were 'unlawful, false and defamatory', the ruling said, giving Hubona seven days to publish a notice that 'unconditionally retracts and apologises' for the claims, it said. Banks in South Africa also said at the time that it was not true that Motsepe-Radebe, founder and chief executive of Mmakau Mining, was a co-signatory on the alleged bank account. Khama ruled Botswana for 10 years from 2008 and later fell out with his handpicked successor, Mokgweetsi Masisi, whom he accused of authoritarianism. In 2024, Masisi lost power in a landslide win for President Duma Boko, ending nearly six decades in power for the Botswana Democratic Party.
Yahoo
2 hours ago
- Yahoo
My brother stole $100K from my mom to buy bitcoin. Do I convince her to sue him?
I am so glad there is a place to send my thorny question. I am a longtime reader and have learned a lot from you, especially that with good planning you can avoid lots of heartache and family stress. Unfortunately, while I like to look ahead, the rest of my family are not planners. Any advice you can give me would be greatly appreciated. Here is the background. I am the oldest of two children. My brother lives in California, I live in Washington and our parents are in Utah. They are in their early 70s and have not yet made a will. My dad would like an attorney's office to be the estate executor because my brother and I do not live nearby, and for other reasons. Most American weddings are a lot more extravagant than the nuptials of Amazon's Jeff Bezos Israel-Iran clash delivers a fresh shock to investors. History suggests this is the move to make. 'He doesn't seem to care': My secretive father, 81, added my name to a bank account. What about my mom? My job is offering me a payout. Should I take a $61,000 lump sum or $355 a month for life? My friend asked me to chip in $1,600 for her son's prom-night limo. Has the world gone mad? My brother treats my parents like his employees, telling them what to do and how to do it. When my mom inherited money from her family about four years ago, he convinced her to put the money into an account with a high interest rate. He also convinced her to put some in bitcoin. My mother is not an educated woman and just went along with it. A few months later when she logged in to check her balance, the account was empty. My brother had transferred $100,000 into bitcoin BTCUSD without telling her. He had her passwords because he had helped to set up the account originally. She was furious and demanded her money back, but he convinced her to wait a few years. When I told my mom it was a good time to pull her money out of bitcoin, she confessed that my brother had put her money into his own bitcoin account. She acknowledges that he stole from her, but she refuses to do anything about it. She says that in the will, I will get $100,000 more, but I don't care about that. My parents' life revolves around him. Anytime my brother needs 'help' they will drop everything and drive to California to help with his dogs or his daughter, who he has no time to raise. My parents just don't want to fight with him, and so I don't think they'll ever bring up the bitcoin. They say they're almost 'even' now because my brother gave them his old cars. Those cars were worth maybe $60,000 combined, but my parents had perfectly good cars to begin with. I tried to explain to them that a car is not cash; its value depreciates. I wouldn't be so upset except that I worry that my parents don't have enough for retirement. Also, my brother still hasn't signed over the titles for the cars because he's too 'busy and stressed right now.' Because he is so manipulative, I also worry about them getting older. I would like to have a power of attorney for them, but I think my brother could convince them to put him in charge. This is clearly a family issue more than a money issue, but I would still like to avoid any money problems if possible. My mom already doesn't like to talk about it. I would like to suggest to my parents that instead of leaving their money to my brother and me, she could set up a trust for each of her three grandkids for college. Their house, which is paid off, is worth $550,000. They started retirement a year ago with $300,000 in cash (I don't know if that was after my brother took $100,000) and they have Social Security and a 401(k). What should I do now? Daughter/Sister Related: My friend asked me to pay $1,600 for her son's prom-night limo. Has the world gone mad? I agree with both you and your mother, even if your approaches may differ. Your mom knows more than you probably realize. She knows your brother is a ne'er-do-well. But she still loves him. She knows that he stole $100,000 from her and invested it in a bitcoin account in his name only even though he was purporting to do her a favor. But she still loves him. She knows he will continue his shenanigans ad nauseum. But she still loves him. The bar is obviously a lot higher for you, as you also know the cut of your brother's jib, and you've been witnessing it for more years than you care to remember. You don't like your brother and you don't appreciate how he continues to exploit and cheat your parents. He is not your child, so you're not as willing to let things slide. That's also fair enough. But your mother is older than you and she doesn't want to get involved in a protracted legal drama with your brother and publicly humiliate him. I'm sure plenty of people are aware of how he operates, and he suffers the consequences of that. The risk to her mental health and the time it would take from her life is not worth the reward, if there was a reward. The first thing she should do now is make sure all her passwords are changed on her accounts, and alert her bank to the risk of further embezzlement, so they can monitor her account. Banks have, for the most part, gotten wise to phishing scams and financial abuse, and take note when older people move to make large withdrawals from their accounts. You could also suggest that your parents freeze their credit with the three major credit bureaus — Experian, TransUnion and Equifax — in case your brother decides to take out a loan in your parents' names. If he is embarking on a new business venture, it wouldn't do any harm to mark their cards that, given his track record, he may come calling should debtors come knocking on his door. I support your endeavor to have a durable power of attorney for your parents so you can manage their affairs if they become incapacitated, along with a healthcare directive to make medical decisions for them. They can also consider options such as a do-not-resuscitate order, if they don't wish to have life-sustaining measures taken if their heart stops or they stop breathing. These are all good questions to raise. Your challenge, as many children of aging parents well know, is how far, how long and how hard to push for these protections. Your mother and father are already dealing with one willful child, and they may see more pressure — even from a responsible, loving and supportive daughter — as unwelcome. You can plant a seed, but you can't get them to water it. In the meantime, act as an invisible gatekeeper. If your brother plans to visit your parents, organize a trip for yourself at the same time. Make sure your parents' mobile phones are secure and that they don't leave passwords or important documents lying around. Make sure their will (and copies of it) are kept in a safe place, in addition to at their lawyer's office. Stay vigilant. If you suspect that your brother is engaging in elder abuse — emotional, physical, psychological or financial — you can report his actions to adult protective services, or call 911 and local law-enforcement authorities or your district attorney's office. But even if you did report this $100,000 theft, it sounds like your mother would not press charges. Call and visit as often as you can. They will need oversight. Related: My friend, 83, wants to add me to his bank account to pay his bills. What could go wrong? Previous columns by Quentin Fottrell: 'She acted as a mother to me growing up': My stepmother remarried after my father died. How can I claim my inheritance? 'My wife and I are very grateful': Our son wants to pay off our mortgage before we retire. Will this backfire? 'Is this ethical?' I want to leave my home to my children from my first marriage — and not to my second husband. How can I buy my niece a home in her name only — without alienating or upsetting her husband? 20 banks expected to increase their dividends the most following the Fed's stress tests My wife and I have $7,000 in pensions, $140,000 in cash, plus Social Security. Can we afford to retire? The vanishing 'Buffett premium': Has Berkshire Hathaway lost the Oracle of Omaha's aura? There's an important market indicator that suggests investors remain wary. It's good news for stocks.
Forbes
2 hours ago
- Forbes
Time To Reinvent U.S. Critical Minerals Strategy
While the Trump administration has prioritized critical minerals, several obstacles stand in the way ... More of engaging partners to build a supply chain independent from China. For the Trump administration, critical minerals are a global policy priority. President Donald J. Trump is trying to get China to relax bans on rare earth minerals desperately needed for American industries, including defense and tech. From Greenland to Ukraine, the U.S. is signaling interest and engagement, be it intent to acquire or a comprehensive energy and minerals agreement. In Africa, the U.S. brokered a peace agreement between the Democratic Republic of the Congo and Rwanda, amid conflict over critical minerals on the border of the two countries. This presents opportunities for American investment, driven by a global security strategy by from a president who has notably scaled back from U.S. engagement abroad. This is because critical minerals are key inputs into advanced technologies, healthcare, defense, energy, and other sectors, and have become a cornerstone of U.S. foreign policy (what oil used to be in the 20th century). President Trump has made the development of a critical mineral supply chain to decrease dependence on China for these materials a priority, taking significant steps toward this goal through a March executive order. While mineral agreements have become a key tool of American diplomacy in the modern era, unclear and inconsistently enforced legislation has limited their effectiveness. The Inflation Reduction Act's Limits to Mineral Investment These self-limiting policies predate the current administration and are a bipartisan policy failure. The Inflation Reduction Act, which aimed to build a clean energy supply chain through 'friendshoring' associated materials by offering tax credits for clean energy products manufactured with components sourced from countries with a free trade agreement with the U.S. This excludes several key producers of critical minerals, like the Democratic Republic of the Congo, Indonesia, Kazakhstan, South Africa, Vietnam, and the that do not have FTAs. Although several waivers have been signed to make exceptions to this provision, this is insufficient to create a reliable investment landscape in these countries. Unsurprisingly, investors are hesitant about investing in a place that requires yearly congressional action. IRA tax credits prioritize 'friendshoring' components for green technologies, only allowing these ... More credits to be viable if inputs like critical minerals are sourced from countries with which the U.S. has a free trade agreement. Another aspect of the IRA that limits opportunities for critical mineral investment is its overly broad definition of 'Foreign Entities of Concern', which includes organizations considered 'an entity owned by, controlled by, or subject to the jurisdiction or direction of a foreign government' or 'an entity that is engaged in conduct detrimental to U.S. national security or foreign policy.' While these definitions may seem reasonable at first glance, they can preclude companies with even a tiny stake of Chinese ownership, or doing business in Russia, from receiving American investment. Considering the history and location of Central Asia, clearly that may affect many U.S. partners there. This prevents companies looking to diversify and receive American investment from doing so, pushing them further into the orbit of competitors. It also enables China to weaponize our own laws against us by strategically investing in locales or companies Beijing has no interest in but wants to keep Western counterparts out. Opportunities for Critical Mineral Partnerships Despite these investment-stifling measures, there are several willing partners prepared to build a lucrative relationship in the minerals sphere. One partner that has displayed significant interest is Kazakhstan, which holds reserves of several critical minerals and is already pursuing several avenues of cooperation. In a recent meeting with U.S. Secretary of State Marco Rubio, Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu emphasized critical minerals as a key avenue of cooperation between the two countries. American educational institutions are also growing their presence in the country, with the Colorado School of the Mines partnering with a local university to train a skilled workforce for Western mining companies. Secretary of State Marco Rubio met with Kazakh Foreign Minister Murat Nurtleu this June, discussing ... More opportunities for partnership in the critical minerals sector. This demonstrates a new dimension of cooperation with the U.S., fostering relations while producing tangible results and expanding the workforce eligible to work in the specialized mining industry. Such a model can also be applied outside of Kazakhstan, both in Central Asia and beyond. The Risks of Opaque Legislation While these steps are promising, they do not offset the skepticism towards American investment prompted by regulations that exclude too many countries from productive engagement in the mining and refining of the rare earth elements. For example, secondary sanctions against companies or economies dealing with Russia, while not imposed on Kazakh mineral producers, remain a looming threat, having been levied against other entities in Central Asia, a region that was a part of the USSR and now has close ties with its former colonial master. In addition, Astana has been subject to scrutiny by Washington before, having been investigated under Section 232 of the Trade Expansion Act regarding the national security implications of its uranium exports to the U.S. The first Trump Administration ruled that no quotas or other trade measures were to be placed on Kazakhstan as a result of the investigation, yet it sent signals to investors that they may incur political risk by investing in Kazakhstan. Now, a global Section 232 investigation is ongoing, despite the dire need for the U.S. to secure sources of uranium imports. Kazakhstan is the number one exporter of uranium in the world. The United States has made clear its appetite for partnerships in the critical minerals sector and is keen to compete with China and create a supply chain that Beijing does not control. Washington's actions stretching back through multiple administrations, however, create a difficult environment for mineral-rich countries that seek investment but are not amongst the partners of the U.S. with a free trade agreement. Even as the country pursues a secure mineral supply chain, establishing trust and clarity with potential partners must be a top priority. The current state of affairs, where the United States keeps a close circle of trade partners, keeps many potential partners out, and issues random exemptions for others, is untenable. The U.S. cannot afford legislative and policy uncertainties, delays, and confusion when America's national security is on the line.
