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IOL News
2 days ago
- Politics
- IOL News
Revive the Tana High-level forum: Facilitate the re-establishment of African Renaissance Clubs
, I urge the two Foundations to include the revival of the Tana High-level forum in their immediate flagship programme so that the human and intellectual capital served in the forum can use their institutional memory to guide and advise the envisaged clubs, the writer says. Image: File Sixteen years ago, the African Union (AU) convened a summit of heads of state in Tripoli, Libya, to analyse, among other matters, the state of conflicts, peace, and security across the continent. The summit resolved to eliminate the ongoing conflicts and promote sustainable peace and security throughout the continent. These heads of African states committed to implementing this resolution within the 'African-centred solutions to peace and security' framework. However, three years after that 2009 AU summit and following the wave of violent conflicts characterised as the 'Arab Spring' in countries such as Egypt, Tunisia, and Libya and others, the Tana High-Level Forum was established in 2012 as a centre for Pan-African conversation and facilitation of the practical realisation of the summit resolution. This high-level forum has evolved into an informal strategic platform for key decision-makers and civil society organisations (CSOs) across the continent to meet and not only exchange best practices, experiences, and ideas on conflict resolution, peace, and security, but also African ideas and thoughts. Interestingly, the forum adopted a baobab tree as its logo because historically, African 'Kings and elders would hold meetings under the baobab tree, with the belief that the tree's spirits would guide them in decision-making. Video Player is loading. 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Advertisement Next Stay Close ✕ It symbolises a meeting place where communities and individuals gather to share stories, conversations and wisdom among the young and the elders.' In October 2022, the Tana Forum celebrated a decade of existence; it is important to note that African women, Dr Hesphina Rukato, Ms Michelle Ndiaye and Ms Lettie Langwe have coordinated this initiative throughout this period. The forum has established itself as a genuine platform for exchanging ideas, showcasing well-researched Pan-African papers that set the agenda for the AU and commission meetings. It also aims to implement the call for 'African solutions to African problems'. Although this call is critiqued by some Africans, who argue that certain problems do not necessarily originate in Africa, I maintain that it is still critical because the intention is for African leaders to take ownership of Africa's destiny and foster collective self-reliance to activate African agency and promote Pan-African ideas in the 'global Africa'. I contend that the establishment of this high-level forum thirteen years ago has created a networking platform for Africans and produced crucial African literature that can serve as the foundation and reservoir of an indigenous knowledge system for the (re)-establishment of the African Renaissance Clubs, as proclaimed by a member of the Thabo Mbeki Foundation Advisory Council, Ambassador Ami Mpunguwe, during the 15th Thabo Mbeki Annual African Day Lecture in Tanzania. That in the coming months, the Thabo Mbeki, Julius Nyerere Foundations and other stakeholders will work on establishing Renaissance clubs from Dar es Salaam to the diaspora. These clubs aim to revive the Pan-African movement, igniting and accelerating the African Renaissance and agency by nurturing thought leaders, thinkers, and doers in the quest to realise the vision and dreams of the founding leaders of the Organisation of African Unity (OAU). I am confident that the TM Foundation has critically assessed the factors contributing to the decline of the previous Renaissance and Pan African structure and the Pan-African movement on the continent and has drawn valuable lessons from the movement in the diaspora. This assessment is necessary to avert the repetition of history, especially considering that the task ahead is daunting, as there is an argument that Africa is more dependent today than it was at the dawn of independence more than six decades ago. Therefore, I urge the two Foundations to include the revival of the Tana High-level forum in their immediate flagship programme so that the human and intellectual capital served in the forum can use their institutional memory to guide and advise the envisaged clubs. Already, the forum has produced research papers and recommendations that the African Union never implemented due to its leadership crisis and lack of political will to drive the African agenda and inspire hope to Africans. The foundations would need funding and partnerships to implement this critical Pan-African initiative. However, I posit that potential funders and partners must be critically examined. Because I argue that the Tana High-level forum was, to a greater extent, weakened by the external funders and partners with their nefarious agendas, according to one of the first women to coordinate the forum, Dr Rukato, the forum was started with six funders and partners with Ethiopia and its entities as core funder, and the structure generated significant interest among funders and partners on and beyond the continent, for example at the launch of the forum, German, Chinese and Indian governments had already developed interests to fund, however ten years later the forum had twenty six funders and partners. Dr Rukato asserts that this increasing sponsorship was needed. However, it created challenges for the forum because specific funders and partners began to organise parallel events and diluted the format and programmes of the forum; this unfortunate situation affected the quality of debates because the sponsors focused more on promoting themselves at the expense of the forum. I still argue that the AU and its member states must reset the engagement with the external partners and craft criteria in selecting funders and partnerships. This criterion must also be used to assess how the current partnerships and funders are assisting in implementing the AU Agenda 2063. Africa must rise, defend and advance its African-centred approach to development. In my view, the Tana High-level Forum was, in its initial stages, a true African Parliament, even more effective than the Pan-African Parliament (PAP) based in Midrand, South Africa. I agree with Dr. Rukato that 'a formal review of the forum is necessary as part of marking its 10th anniversary and adapting it to new and emerging factors that may have arisen in the past decade.' As an aspirant Pan-African scholar, I call on all Africans in the 'global Africa', to support this great initiative of the Thabo Mbeki and Julius Nyerere foundations to (re) establish the African renaissance clubs, however, we must also make a call for an incorporation of the revival of the Tana High-level forum in the broader strategic plan of the foundations. Orapeleng Matshediso is a Masters graduate of Pan African Development Studies and Research Associate at the University of Johannesburg (Institute for Pan African Thought and Conversation). The author is also an alumnus of the then Thabo Mbeki African Leadership Institute (TMALI). Orapeleng Matshediso is a Masters graduate of Pan African Development Studies and Research Associate at the University of Johannesburg (Institute for Pan African Thought and Conversation). Image: Supplied. BUSINESS REPORT Visit:
Morocco World
2 days ago
- Business
- Morocco World
Moroccan Expatriates and the Floating Dirham: Risks, Confidence, and Currency Reform
As Morocco approaches its planned transition to a floating exchange rate regime in 2026, the financial participation and confidence of Moroccan expatriates will play a critical role in ensuring the reform's success. With more than five million Moroccans living abroad and remittances reaching over MAD 117.7 billion (approximately $11.7 billion) in 2024, this community represents both a stabilising force and a key stakeholder in the country's economic future. In this fourth article of the series, Oualid El Meriague speaks with financial expert Mr Badr Bouarich to explore how the dirham's floating may affect expatriate savings, remittances, and property investments. Bouarich provides critical insights into how Morocco can safeguard these contributions and foster deeper economic links with its diaspora during this pivotal shift. A Strategic Reform with Lessons from Abroad Transitioning from a fixed exchange rate regime to a floating one can be a complex undertaking. While some countries have managed the shift smoothly, others have struggled, if not outright failed. It is therefore essential to understand the chain of events that typically precede the decision to float a currency and to distinguish between voluntary transitions and those driven by crisis. A proper assessment must also consider both microeconomic and macroeconomic indicators. In Morocco's case, stakeholders led by Bank Al-Maghrib have opted for a voluntary, smooth, flexible, and gradual approach to the transition. During the COVID-19 pandemic in 2020, the process was temporarily paused to avoid unnecessary risks amid uncertainty. This decision reflected Morocco's ability to pace the reform with caution and foresight, unlike other nations that have had no such luxury. Some countries simply did not have the time or space to adjust or refine their approach. Egypt, for example, faced severe economic and institutional challenges following the Arab Spring in 2011. Political instability, security threats, especially in the Sinai, and a wave of terrorist incidents crippled tourism, which plummeted from 13 million visitors in 2010 to just 3 million in 2017. As a result, foreign currency inflows dwindled dramatically. The country's foreign currency reserves, which stood at around $36 billion in early 2011, dropped to $18 billion within the same year. By 2016, they remained dangerously low, covering less than three months of imports, well below the safe threshold. This made the float of the Egyptian pound in 2016 less a matter of economic reform and more a response to unsustainable pressure. The decision was not voluntary but rather forced by external constraints and mounting economic distress. Nigeria also went through several episodes of currency floating between 2016 and 2023. Initially, the move aimed to reduce pressure on foreign reserves, counter the black market, and attract foreign investment, particularly after oil revenue declines significantly reduced forex inflows. However, the policy produced mixed results. Inflation was already high, hovering around 16 percent, when the float was implemented. The government simultaneously removed fuel subsidies, which worsened the cost of living. The naira had long been overvalued at the official rate and therefore depreciated sharply once floated. Foreign exchange restrictions remained in place, leading to a semi-managed rather than truly free float. The black market persisted, and investor sentiment remained weak, deterring the very capital inflows the policy had aimed to attract. Following a full liberalisation of the naira in 2023, however, Nigeria has begun to see more promising results. Although inflation remains elevated, the black market is shrinking, exports are gaining competitiveness, and foreign exchange reserves are showing early signs of recovery. Economic growth is also beginning to pick up again. In contrast, Morocco's context is fundamentally different. Inflation remains contained at approximately 1.8 percent as of December 2024. The black market for foreign currency is almost non-existent despite ongoing capital controls, and reserves are stable at around MAD 375.2 billion (approximately $37 billion). Tourism reached record levels in 2024, with 17.5 million visitors and revenues exceeding MAD 105 billion. Institutions are resilient, and security concerns are being addressed swiftly and effectively. All signs suggest that Morocco is approaching this reform from a position of strength rather than necessity. This is an important distinction that should not be underestimated. Inflation and Timing: A Lesson from Egypt Egypt's inflationary troubles were well established even before it floated its currency. Chronic dependence on imports, rising global commodity prices, weak foreign currency inflows, persistent budget deficits, and expansionary monetary policy all contributed to an inflation rate of around 14 percent. In this fragile environment, the floating of the pound acted as an accelerant. Inflation surged to over 20 percent by the end of 2016 and approached 30 percent in 2017. This experience demonstrates that while floating a currency is not inherently inflationary, it can magnify inflationary pressures if underlying economic fundamentals are misaligned. Floating in an environment already burdened by high inflation can lead to severe socio-economic consequences. In Morocco's case, the floating is not driven by crisis. It is a voluntary reform rather than a reaction to external shocks or reserve depletion. As such, Morocco retains the ability to choose the right moment for implementation, an opportunity few other countries have had. In fact, we recall that Bank Al-Maghrib Governor Abdellatif Jouahri postponed the transition in 2020, citing uncertainty linked to the pandemic as justification. This strategic delay underscores Morocco's commitment to responsible economic management. To reduce the risks associated with the float, Morocco must carefully time the move. Ideally, this would occur during a period of low inflation, stable commodity prices, and manageable external conditions. Not all risks are foreseeable, however. Should a geopolitical shock, such as an escalation between Russia and Europe, occur, it could drive global energy and food prices sharply upwards, undermining even the best-laid plans. Global developments must therefore remain closely monitored. As discussed in earlier articles of this series, local mitigation strategies should also be reinforced. Encouraging distributors to hedge against currency volatility, while capping excessive profit margins, can help stabilize prices for essential goods and protect vulnerable consumers from sudden spikes in living costs. Capital Controls, Black Markets, and Currency Confidence According to official statements from Bank Al-Maghrib, Morocco's transition to a floating exchange rate will not entail the full liberalisation of capital flows. That is, limits will still apply to the amount of foreign currency individuals and corporations can legally exchange or transfer abroad. These long-standing restrictions are intended to shield the dirham from speculative attacks and to uphold financial stability during the transition. However, as evidenced by Nigeria's experience, foreign exchange controls can create distortions if not managed carefully. In countries where the official exchange rate is perceived to be misaligned with reality, black markets often emerge as a parallel mechanism to meet unmet demand. Though informal, these markets can serve as useful indicators of the currency's perceived value. In Egypt, prior to the 2016 float, the pound was trading at a 50 percent discount on the black market, precisely the level at which the official rate settled post-float. This demonstrates how informal markets often foreshadow formal adjustments. In Morocco's case, however, such distortions are currently minimal. Thanks to measures like raising the annual foreign exchange allowance for travel to MAD 100,000, the demand for black market transactions has largely disappeared. This suggests that the dirham's current value is broadly in line with market expectations and that public confidence in the currency remains intact. Moroccan Expatriates: A Stabilising Force in Transition Moroccan expatriates are a central pillar of the country's economic resilience. In 2024, remittances from the diaspora reached MAD 117.7 billion (approximately $11.7 billion), representing more than 8 percent of Morocco's GDP, which was estimated at MAD 1.43 trillion (or around $142 billion). These funds support millions of families and serve as a crucial source of foreign currency, helping Morocco maintain external balances and reserve buffers. Beyond the numbers, they also represent trust: trust that the Moroccan economy will remain stable and welcoming to those who live beyond its borders. If the floating of the dirham is not properly timed or communicated, expatriates may become wary of holding dirham-denominated savings. In the worst-case scenario, capital flight or a shift to informal channels could erode trust in the banking system. However, with the right hedging tools, accessible foreign currency products, and a clear reform roadmap, Moroccan financial institutions can ensure that expatriates feel secure and remain active participants in the national economy. Looking Ahead: Regional Influence Through Currency Reform In the next and final part of this series, we will examine how the flotation of the dirham could serve not only as a catalyst for trade and investment but also as a strategic lever for Morocco to strengthen its regional economic leadership. As capital mobility, investor sentiment, and market integration evolve, we will explore how Morocco can position the dirham, and by extension its broader economic model, as a stable and credible reference point in North and West Africa. This final analysis will provide a forward-looking view on how currency flexibility could enhance Morocco's role as a financial, commercial, and policy anchor in a more interconnected and competitive global system.
Yahoo
5 days ago
- General
- Yahoo
Germany arrests Syrian accused of crimes under Assad
An alleged former Syrian prison guard has been arrested in Germany on suspicion of committing crimes against humanity under former president Bashar al-Assad, prosecutors said Tuesday. The man, identified only as Fahad A., is accused of "acts of killing, torture and deprivation of liberty" while he worked in a Damascus facility run by Syrian intelligence in 2011 and 2012, during the Arab Spring protests. German authorities have pursued several suspects for crimes committed in Syria's civil war under the principle of universal jurisdiction, even after Assad's ouster last December. Prosecutors declined to give Fahad's age or the year he came to Germany but said he was arrested in the town of Pirmasens in the western state of Rhineland-Palatinate. During his time at the Al-Khatib detention centre, also known as Branch 251, Fahad A. allegedly "took part in well over 100 interrogations where prisoners were subjected to severe physical abuse, for instance electrocution or beatings with cables", they said. "Following his superiors' orders, the suspect also harassed prisoners at night by, for example, hanging them from the ceiling, pouring cold water over them or forcing them to remain in uncomfortable positions," prosecutors allege. At least 70 prisoners are thought to have died due to such abuse and the "catastrophic" prison conditions. The alleged offences occurred in the years of the bloody repression of anti-Assad protests during the Arab Spring. "The objective was to suppress the protest movement from early on and to intimidate the population," prosecutors said. In 2022 former Syrian colonel Anwar Raslan was found guilty of overseeing the murders of 27 people and the torture of 4,000 others at the Al-Khatib centre in 2011 and 2012. That was the first international trial over state-sponsored torture in Syrian prisons and was hailed as "historic" by human rights activists. Europe's biggest economy, then ruled by chancellor Angela Merkel, granted safe haven to hundreds of thousands of Syrians during the 2015-16 refugee influx. NGOs warned at the time of the danger that people accused of atrocities against civilians for Assad's government were arriving incognito in Europe and obtaining asylum. An Islamist-led coalition toppled Assad in December after five decades of his family's iron-fisted rule and nearly 14 years of brutal war that killed more than half a million people and displaced millions more. jsk/fz/giv
France 24
5 days ago
- Politics
- France 24
Germany arrests Syrian accused of crimes under Assad
The man, identified only as Fahad A., is accused of "acts of killing, torture and deprivation of liberty" while he worked in a Damascus facility run by Syrian intelligence in 2011 and 2012, during the Arab Spring protests. German authorities have pursued several suspects for crimes committed in Syria's civil war under the principle of universal jurisdiction, even after Assad's ouster last December. Prosecutors declined to give Fahad's age or the year he came to Germany but said he was arrested in the town of Pirmasens in the western state of Rhineland-Palatinate. During his time at the Al-Khatib detention centre, also known as Branch 251, Fahad A. allegedly "took part in well over 100 interrogations where prisoners were subjected to severe physical abuse, for instance electrocution or beatings with cables", they said. "Following his superiors' orders, the suspect also harassed prisoners at night by, for example, hanging them from the ceiling, pouring cold water over them or forcing them to remain in uncomfortable positions," prosecutors allege. At least 70 prisoners are thought to have died due to such abuse and the "catastrophic" prison conditions. The alleged offences occurred in the years of the bloody repression of anti-Assad protests during the Arab Spring. "The objective was to suppress the protest movement from early on and to intimidate the population," prosecutors said. In 2022 former Syrian colonel Anwar Raslan was found guilty of overseeing the murders of 27 people and the torture of 4,000 others at the Al-Khatib centre in 2011 and 2012. That was the first international trial over state-sponsored torture in Syrian prisons and was hailed as "historic" by human rights activists. Europe's biggest economy, then ruled by chancellor Angela Merkel, granted safe haven to hundreds of thousands of Syrians during the 2015-16 refugee influx. NGOs warned at the time of the danger that people accused of atrocities against civilians for Assad's government were arriving incognito in Europe and obtaining asylum. An Islamist-led coalition toppled Assad in December after five decades of his family's iron-fisted rule and nearly 14 years of brutal war that killed more than half a million people and displaced millions more.
The Age
6 days ago
- The Age
One of the world's best travel experiences is back in fashion
A cruise through Egypt packs in history and romance, whitewashed villages and cacophonous cities, farmland and sand dunes, and a whole series of splendid monuments that would individually be worth the journey, and together offer one of the greatest sights on Earth. Tourism in Egypt has, however, been beset with a series of unfortunate events over the last 15 years. In 2010, just before the Arab Spring uprising spooked visitors, the North African nation received 14.7 million visitors. Only last year did it finally manage to improve on that number, though not before tourism had dwindled to nothing during pandemic. Current Middle Eastern woes have, however, had little flow-on effect on visitor numbers. In fact, market-data company Statista predicts Egypt's tourism market can expect significant growth this year and in the next few years at an annual rate of seven per cent. There are various reasons for the uptick, among them the 2022 movie Death on the Nile, increased Egyptian government development of tourism facilities and river-cruise moorings, and restoration of several archaeological sites. The recent opening of the much-anticipated Grand Egyptian Museum, which displays all the treasures of Tutankhamun's tomb among its 5400 objects, is also expected to pull in more visitors. Bookings on Nile cruises have surged. The main season is October to April, but cruises have now been extended into the hotter months, and new ships are regularly launched.
