<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-820x547.jpg" alt="" class="wp-image-417818" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Situmbeko Musokotwane, Zambia&#8217;s finance minister, during an interview at his office in Lusaka, Zambia, on Thursday, May 5, 2022. China should head the creditors committee being formed to renegotiate Zambias $17.3 billion of foreign debt because that will help accelerate the resolution process, Musokotwane said. Photographer: Zinyange Auntony/Bloomberg via Getty Images</figcaption></figure>



WASHINGTON, July 9 (Reuters)&nbsp;&#8211;&nbsp;Zambia&#8217;s official creditors are expected to offer it financial assurances by the end of July, paving the way for the first debt restructuring under a G20 framework set up during the height of the COVID-19 pandemic, two sources briefed on the matter said.



Zambia would be the first of three countries that have requested debt relief under the Common Framework agreed by the Group of 20 major economies and the Paris Club of official creditors to move forward in what has been a very slow process.



The creditor committees of Zambia, Chad and Ethiopia are all due to meet this month amid growing pressure to accelerate the debt restructuring process.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2YO5J2&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



No firm date has been set for a meeting of Zambia&#8217;s creditor committee, but sources briefed on the matter said they expected the African country to secure financial assurances by the end of the month, and said private sector creditors were cooperating.



Russia&#8217;s war in Ukraine has sent food and energy prices surging higher, exacerbating debt problems already plaguing 60% of low-income countries and now threatening a growing number of middle-income countries.



The Common Framework was set up in October 2020 to head off another major debt crisis, but progress has been slowed by the reluctance of China &#8211; now the world&#8217;s biggest sovereign creditor &#8211; and private sector creditors to participate, which has dissuaded other countries from seeking debt relief.



Experts say movement on Zambia could help spur more interest among heavily indebted countries, especially given the growing risk of a global recession, higher interest rates and continued outflows of capital from emerging market economies.



Improvements to the Common Framework will be a key topic at next week&#8217;s meeting of G20 finance officials in Indonesia, but Zambia&#8217;s case is unlikely to be resolved before that meeting, the sources said.



IMF and World Bank officials have been blunt about the failings of the Common Framework. They are pushing for finance officials of the G20 major economies to apply more pressure on China and private sector creditors to participate.



Zambian Finance Minister Situmbeko Musokotwane said last week the country&#8217;s economy would be highly compromised without external support.



A Paris Club source said earlier this week that the group of wealthy creditor nations was working on providing financing assurances to the IMF that could unlock funds for Zambia.



&#8220;We hope that that can be done before the end of July,&#8221; the source added.



(Reporting by Andrea Shalal; Editing by Sandra Maler)

Zambian Finance Minister Situmbeko Musokotwane Interview

Zambia’s creditors seen offering financial assurances by end-July -source

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="528" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/NWUKRFCQGZISRFNU5CO24TD4HI-820x528.jpg" alt="" class="wp-image-418309" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/NWUKRFCQGZISRFNU5CO24TD4HI-820x528.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/NWUKRFCQGZISRFNU5CO24TD4HI-300x193.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/NWUKRFCQGZISRFNU5CO24TD4HI-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/NWUKRFCQGZISRFNU5CO24TD4HI-768x495.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/NWUKRFCQGZISRFNU5CO24TD4HI-1536x990.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/NWUKRFCQGZISRFNU5CO24TD4HI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: Rwanda&#8217;s President Paul Kagame delivers a speech in front of so-called &#8220;BioNTainer&#8221;, a system to produce vaccines in Africa, during a presentation in Marburg, Germany, February 16, 2022. REUTERS/Fabian Bimmer</figcaption></figure>



KINSHASA, July 6 (Reuters)&nbsp;&#8211;&nbsp;Democratic Republic of Congo&#8217;s President Felix Tshisekedi and his Rwandan counterpart Paul Kagame have agreed at a summit in Angola to de-escalate tensions from a rebel insurgency,&nbsp;the Congolese presidency said on Wednesday.



Diplomatic tensions have risen sharply between the neighbours since&nbsp;the M23 rebel group began a major offensive in Congo&#8217;s eastern borderlands at the end of March.



Congo&nbsp;has accused&nbsp;Rwanda of backing the group. Kigali denies this, and in turn&nbsp;has accused&nbsp;Kinshasa of fighting alongside another armed group intent on seizing power in Kigali.



Angolan President Joao Lourenco&nbsp;was appointed&nbsp;by the African Union to mediate talks, and hosted a mini tripartite summit in Angola&#8217;s capital, Luanda, on Wednesday.



&#8220;The tripartite decided on a process of de-escalation between Congo and Rwanda,&#8221; the Congolese presidency said in a statement posted on Twitter after the summit concluded.



<h3 class="wp-block-heading" id="h-read-more-congo-and-rwanda-to-begin-talks-amid-tensions-over-insurgency">Read more: <a href="https://www.cnbcafrica.com/2022/congo-and-rwanda-to-begin-talks-amid-tensions-over-insurgency/">Congo and Rwanda to begin talks amid tensions over insurgency</a></h3>



It said the agreement included an immediate cessation of hostilities and the retreat of M23 fighters from Congo. A Rwanda-Congo commission that had previously been dormant will meet again in Luanda on July 12, it said.



Angola&#8217;s presidency issued a similar statement to the Congolese one.



Among the agreements was a commitment to defeat the rebel group the Democratic Forces for the Liberation of Rwanda (FDLR), an ethnic Hutu militia that Kigali has accused of fighting alongside Congo&#8217;s army, a spokeswoman for Rwanda&#8217;s presidency said late on Wednesday.



The M23&nbsp;last month&nbsp;seized an important border post in their most sustained offensive since capturing swathes of territory in 2012-2013.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2Y00IC&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Congo has accepted a proposal for an East African regional force to be deployed in its east to help control the violence, but only if Rwanda does not take part.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2Y40MB&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The fighting has forced tens of thousands to flee their homes in an area that has had little respite from conflict since Rwanda and neighbouring Uganda invaded in 1996, citing threats from local militia groups.



(Reporting by Stanis Bujakera and Fiston Mahamba; Additional reporting by Clement Uwiringiyimana in Kigali; Writing by Sofia Christensen and Nellie Peyton; Editing by Hereward Holland, Alison Williams, Estelle Shirbon, David Gregorio and Kim Coghill)

FILE PHOTO: BioNTech’s vaccine manufacturing plans for Africa presented in Marburg

Congo, Rwanda agree at Angola summit to reduce tension

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/GettyImages-1336718221-820x547.jpg" alt="" class="wp-image-418296" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/07/GettyImages-1336718221-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/GettyImages-1336718221-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/GettyImages-1336718221-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/GettyImages-1336718221-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/GettyImages-1336718221-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/07/GettyImages-1336718221-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>BERLIN, GERMANY &#8211; AUGUST 27: Felix Tshisekedi, President of the Democratic Republic of the Congo speaks at a press conference after the G20 Compact with Africa conference at the Chancellery in Berlin on August 27, 2021 in Berlin, Germany. (Photo by Maja Hitij/Getty Images)</figcaption></figure>



KINSHASA, July 6 (Reuters)&nbsp;&#8211;&nbsp;Democratic Republic of Congo&#8217;s President Felix Tshisekedi and his Rwandan counterpart Paul Kagame are due to begin talks in the Angolan capital Luanda on Wednesday amid tensions over a surge of rebel attacks in eastern Congo.



The two neighbours have been locking horns since the M23 rebel group began a major offensive in Congo&#8217;s eastern borderlands at the end of March.



Congo accuses Rwanda of backing the group. Kigali denies this, and in turn accuses Kinshasa of fighting alongside another armed group intent on seizing power in Kigali.



Tshisekedi arrived in Luanda on Tuesday for a &#8220;mini tripartite summit&#8221; on peace in the Congo on Wednesday, the presidency said in a statement, describing the meeting as a moment &#8220;of truth&#8221;.



Rwanda&#8217;s ambassador in Congo Vincent Karega told Reuters Kagame had also arrived.



The M23 have seized an important border post in their most sustained offensive since capturing swathes of territory in 2012-2013.



Congo&#8217;s army is battling to push them out of newly gained positions close to eastern Congo&#8217;s main city of Goma.



The fighting has forced tens of thousands to flee their homes in an area that has had little respite from conflict since Rwanda and neighbouring Uganda invaded in 1996, citing threats from local militia groups.



Despite billions of dollars spent on one of the United Nations&#8217; largest peacekeeping forces, more than 120 rebel groups continue to operate across east Congo almost two decades after the official end of the central African country&#8217;s civil wars.



Angolan President Joao Lourenco has been appointed by the African Union to mediate the talks and restore dialogue between the two parties.



(Reporting by Stanis Bujakera; Writing by Sofia Christensen; Editing by Hereward Holland and Alison Williams)

Chancellery Holds Compact With Africa Summit

Congo and Rwanda to begin talks amid tensions over insurgency

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="549" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/01/U5DUPVTNRFIELG6KDS4EHR4OCM-820x549.jpg" alt="" class="wp-image-414936" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/01/U5DUPVTNRFIELG6KDS4EHR4OCM-820x549.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/U5DUPVTNRFIELG6KDS4EHR4OCM-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/U5DUPVTNRFIELG6KDS4EHR4OCM-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/U5DUPVTNRFIELG6KDS4EHR4OCM-768x514.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/U5DUPVTNRFIELG6KDS4EHR4OCM-1536x1029.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/01/U5DUPVTNRFIELG6KDS4EHR4OCM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>FILE PHOTO: Rwandan president Paul Kagame addresses delegates at the Africa CEO Forum in Kigali, Rwanda March 25, 2019. REUTERS/Jean Bizimana</figcaption></figure>



NAIROBI, July 4 (Reuters)&nbsp;&#8211;&nbsp;Rwandan President Paul Kagame said on Monday his country has no problem being excluded from a regional military force to be deployed to end decades of bloodshed caused by militant activity in eastern Democratic Republic of Congo.



In April the seven countries of the East African Community&nbsp;(EAC)&nbsp;which Congo joined this year, agreed to set up a joint force but Congo&#8217;s President had objected to the Rwandan army taking part.<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y72OF&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;I have no problem with that,&#8221; he told the country&#8217;s state broadcaster. &#8220;We are not begging anyone that we participate in the force.&#8221;



Despite billions of dollars spent on one of the United Nation&#8217;s largest peacekeeping forces, more than 120 rebel groups continue to operate across large swathes of east Congo almost two decades after the official end of the central African country&#8217;s civil wars.



The EAC has called on local armed groups to join a political process to resolve their grievances or &#8220;be handled militarily&#8221;, the office of Kenya&#8217;s president said in April.



Recent attempts to stop the violence militarily have proven unsuccessful, and in some cases backfired, security analysts and human rights groups say.



(Reporting by Clement Uwiringiyimana; Writing by Hereward HollandEditing by James Macharia Chege)

Rwandan president Paul Kagame addresses delegates at the Africa CEO Forum in Kigali

Rwanda’s Kagame has no problem being excluded from Congo regional military force

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-4-820x547.jpg" alt="" class="wp-image-401486" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-4-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Ghana President, Nana Akufo-Addo attends the fifty-sixth ordinary session of the Economic Community of West African States in Abuja on December 21, 2019. (Photo by Kola SULAIMON / AFP) (Photo by KOLA SULAIMON/AFP via Getty Images)</figcaption></figure>



ACCRA, July 1 (Reuters)&nbsp;&#8211;&nbsp;Ghana, one of West Africa&#8217;s largest economies, will hold formal talks with the International Monetary Fund (IMF) on a support package, the government said on Friday, after hundreds took to the streets protesting mounting hardship.



The cabinet gave its support for the decision at a meeting on Thursday, following a phone conversation between President Nana Akufo-Addo and IMF Managing Director Kristalina Georgieva.



Ghana, the gold,&nbsp;cocoa and oil&nbsp;producer, has until now refused to seek IMF support to rescue an economy crippled by the pandemic, rampant inflation and a depreciating currency, despite analysts warning it is close to a debt crisis.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y85AF&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>.



The IMF did not immediately respond to a request for comment.



Central bank governor Ernest Addison said in May that Ghana faced an overall balance of payments deficit of $934.5 million in the first quarter of 2022, compared with $429.9 million in the same period last year.



Analysts said the decision should help Ghana deal with its challenges.



&#8220;We have long waited for this to happen because we could tell it wasn&#8217;t going to get better anytime soon,&#8221; said William Duncan, founder of the Ghana-based Spear Capital &amp; Advisory.



&#8220;Now that the IMF has been engaged, it will be interesting to see how government spends on their flagship programmes and social interventions.&#8221;



Ghana&#8217;s dollar-denominated sovereign bonds rallied sharply with issues up maturing in 2026 and 2027 jumping nearly 5 cents in the dollar to trade at their highest level since May.&nbsp;US374422AC70=TE,&nbsp;XS2115122538=TE



&#8220;The first gain for Ghana will be improved international confidence in the country&#8217;s capacity and efforts to weather the crisis,&#8221; said Leslie Dwight Mensah, Economist and Research Fellow at the Institute for Fiscal Studies in Accra.



Hundreds took to the streets in Accra this week to protest against spiraling inflation and other woes. Growth slowed to 3.3% year-on-year in the first quarter of 2022 and inflation hit a record of 27.6% in May.



The central bank raised its main interest rate by 200 basis points to 19% last month, the second hike this year to buttress macroeconomic stability.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2XF33D&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



(Reporting by Christian Akorlie in Accra; Additional reporting by Bate Felix in Dakar, Cooper Inveen in Accra and Karin Strohecker and Rachel Savage in London; Writing by Sofia Christensen; Editing by James Macharia Chege and Nick Macfie)

NIGERIA-SECURITY-POLITICS-DIPLOMACY-ECONOMY

Crisis-hit Ghana changes its mind and turns to IMF for help

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/640px-Flag_of_Ghana.svg_.png" alt="" class="wp-image-380479" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/08/640px-Flag_of_Ghana.svg_.png 640w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/640px-Flag_of_Ghana.svg_-300x200.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/08/640px-Flag_of_Ghana.svg_-600x400.png 600w" sizes="auto, (max-width: 640px) 100vw, 640px" /></figure>



ACCRA, June 28 (Reuters)&nbsp;&#8211;&nbsp;Police clashed with hundreds of demonstrators in Ghana&#8217;s capital Accra on Tuesday protesting against fuel price hikes, a tax on electronic payments and other levies as the country grapples with spiralling inflation and an economic downturn.



Ghanaians in recent months have been feeling the pinch of record inflation and the fallout of the Ukraine war amid cuts in government spending to avoid a full-blown debt crisis.



Hundreds on Tuesday joined an authorised two-day protest led by local lobby group &#8220;Arise Ghana&#8221; to denounce economic hardships, social media and Ghana News Agency footage showed.



Police responded with teargas, rubber bullets and hot water when the crowd veered off the proposed route, senior Arise Ghana member Sammy Gyamfi told Reuters by telephone, saying it was different to a previously agreed route.



The police said they were forced to use teargas and water cannons to restore order after demonstrators threw stones and burnt tires on the road.



Twelve officers were injured and some police vehicles damaged, they said in a statement, adding that protesters failed to follow &#8220;court-approved routes&#8221;.



The demonstration had dispersed by evening and streets in the city centre were lined with policemen, a Reuters reporter said.



Ghana&#8217;s economic growth slowed to 3.3% year-on-year in the first quarter and inflation hit a new record of 27.6% in May despite sweeping spending cuts and other measures to redress the financial situation.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y92X4&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a><a href="https://www.reutersconnect.com/all?search=all%3AL8N2XV2IG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The West African gold, oil and cocoa producer is also grappling with high debt and a depreciating local currency.



A controversial tax on electronic payments approved in April and presented as a solution for Ghana&#8217;s financial woes has raised the opposition&#8217;s ire, with critics saying it will unfairly affect low-income people and small businesses.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2VW4N9&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The government has consistently ruled out asking the International Monetary Fund for assistance despite analysts warning it is close to a debt crisis.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y85AF&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



(Reporting by Christian Akorlie and Cooper Inveen; Writing by Sofia ChristensenEditing by Gareth Jones)

640px-Flag_of_Ghana.svg

Police disperse protest over economic hardship in Ghana

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="536" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/O6APFGYKWVIBDJYVV244R5HGQ4-820x536.jpg" alt="" class="wp-image-418153" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/O6APFGYKWVIBDJYVV244R5HGQ4-820x536.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/O6APFGYKWVIBDJYVV244R5HGQ4-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/O6APFGYKWVIBDJYVV244R5HGQ4-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/O6APFGYKWVIBDJYVV244R5HGQ4-768x502.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/O6APFGYKWVIBDJYVV244R5HGQ4.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Civil society members hold banners during an anti-Rwanda protest, amid tensions between Kinshasa and Kigali over Rwanda&#8217;s suspected backing of the M23 rebel group, in Kinshasa, Democratic Republic of Congo June 25, 2022. REUTERS/Stringer.</figcaption></figure>



KINSHASA, June 29 (Reuters)&nbsp;&#8211;&nbsp;Life in Kinshasa was going well for Zawadi, a mother of two from Rwanda, until faraway fighting stoked Congolese anger against her country and videos of men with machetes prowling the city streets in search of Rwandans surfaced on social media.



The trouble started in May, when the M23 rebel group resumed heavy fighting against the military in the eastern reaches of Democratic Republic of Congo after years of relative quiet. Congo accuses Rwanda of supporting M23, which Rwanda denies.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y72OF&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Hundreds of kilometres to the west, in the Congolese capital Kinshasa, Zawadi watched in horror as videos of anti-Rwandan demonstrations circulated on social media and people she knew started posting anti-Rwandan images and slogans.



&#8220;I can&#8217;t take my children to school. I can&#8217;t go to the market. I have to stay at home,&#8221; said Zawadi, who declined to give her family name because of safety concerns.



Zawadi is no longer even able to work.



&#8220;Even my business partners, when they see me, they hurl hateful words,&#8221; said Zawadi, speaking in her home where she spends hours every day with her two young children, following the latest developments on her phone.



In early June, a video that circulated widely showed some men, armed with machetes and faces wrapped in Congolese flags, loitering on a Kinshasa street in front of a Rwandan-owned shop.



Another video, shot during a protest in the city on May 30, showed a crowd cheering as a picture of Rwandan President Paul Kagame, defaced with a Hitler-like moustache and swastika, was torched.



Protesters, including some well-known political figures, have demanded the closure of the Rwandan embassy.



The provincial commissioner of police, General Sylvano Kasongo, said officers were under orders to arrest anyone dressed in paramilitary outfits and adopting a threatening attitude, and some arrests had already taken place.



&#8220;The people of Kinshasa are hospitable,&#8221; he said, condemning the anti-Rwandan protests and attributing them to a minority.



Kinshasa Governor Gentiny Ngobila urged residents not to take out their anger on Rwandan citizens.



&#8220;We should not slip into that xenophobic rhetoric because it would give ammunition to those who would use the excuse that Rwandans are persecuted in Congo, therefore it is necessary to go to their rescue,&#8221; Ngobila said.



He was alluding to a justification given by Rwanda for invading Congo in 1996 and 1998. But the calls for restraint have done little to ease Zawadi&#8217;s fears.



&#8220;Everywhere you go, you think people could kill you, people could harm you,&#8221; she said.



EXPLAINER-The Congo rebellion inflaming regional tensions&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y72OF&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



(Reporting by Benoit Nyemba; Writing by Bate Felix; Editing by Estelle Shirbon and Lisa Shumaker)

O6APFGYKWVIBDJYVV244R5HGQ4

Rwandans fear leaving their homes in Congo as anger grows over rebel attacks

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-820x547.jpg" alt="" class="wp-image-414305" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/12/BE2FA7DW6VJP3AYQ5S5CUCMQO4.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo</figcaption></figure>



NAIROBI, June 29 (Reuters)&nbsp;&#8211;&nbsp;The board of the International Monetary Fund will meet next month to consider the latest review of Kenya&#8217;s performance in its current lending programme, a senior fund official said, potentially unlocking a $239 million tranche.



The East African nation struck a $2.34 billion extended fund facility and extended credit facility deal with the IMF in April last year, and it has already undergone other successful reviews.



The current review was &#8220;progressing well&#8221;, Tobias Rasmussen, the IMF&#8217;s resident representative in Kenya told Reuters, adding that the board is expected to meet in &#8220;mid-July&#8221; to complete the assessment.



&#8220;Kenya is on track to meet its fiscal objective under the programme, and strong tax performance this year is supporting resilience in the face of global shocks,&#8221; he said.



Ukur Yatani, Kenya&#8217;s finance minister, said the timing of the completion of the review was not crucial, as long as the government could access the $239 million at some point.



<h3 class="wp-block-heading" id="h-read-more-imf-urges-countries-to-support-vulnerable-avoid-blanket-subsidies-as-food-fuel-prices-soar">Read more: <a href="https://www.cnbcafrica.com/2022/imf-urges-countries-to-support-vulnerable-avoid-blanket-subsidies-as-food-fuel-prices-soar/">IMF urges countries to support vulnerable, avoid blanket subsidies as food, fuel prices soar</a></h3>



&#8220;As long as the funding comes in, it doesn&#8217;t matter whether it comes in June or July,&#8221; he told Reuters.



The government usually makes adjustments if the cash it has planned to get in the course of a given financial year does not materialise, he said, without specifying if the government was counting on the $239 million in its current fiscal year to June 30.



&#8220;We are fully in control. We knew that there could be some slight delays,&#8221; he said.



Earlier this month, Kenya was forced to cancel the planned issuance of a second Eurobond this financial year, due to surging bond yields.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2XX1EX&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The Kenyan dollar bonds are some of the worst performers among African issuers this year.



(Reporting by Duncan Miriri; Editing by Alison Williams)

BE2FA7DW6VJP3AYQ5S5CUCMQO4

IMF’s board to review Kenya’s performance in mid-July, $239 mln at stake

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Z2WISOQK7FJZXDVL2B2TAZ4MKQ-820x547.jpg" alt="" class="wp-image-418113" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Z2WISOQK7FJZXDVL2B2TAZ4MKQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Z2WISOQK7FJZXDVL2B2TAZ4MKQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Z2WISOQK7FJZXDVL2B2TAZ4MKQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Z2WISOQK7FJZXDVL2B2TAZ4MKQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/Z2WISOQK7FJZXDVL2B2TAZ4MKQ.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Ethiopian Prime Minister Abiy Ahmed attends his last campaign event ahead of Ethiopia&#8217;s parliamentary and regional elections scheduled for June 21, in Jimma, Ethiopia, June 16, 2021. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



ADDIS ABABA, June 27 (Reuters)&nbsp;&#8211;&nbsp;The African Union should facilitate peace talks between Ethiopia&#8217;s government and rebellious forces from the Tigray region in the north, the country&#8217;s ruling party told state media on Monday.



The conflict in Ethiopia, Africa&#8217;s second-most populous nation, has displaced millions of people, plunged parts of Tigray into famine conditions and killed thousands of civilians, since it erupted in November 2020.



Prime Minister Abiy Ahmed said two weeks ago that the federal government had formed a committee to study how they will negotiate with the&nbsp;Tigrayan&nbsp;forces.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2Y10K8&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



After discussing the committee&#8217;s report, Abiy&#8217;s ruling Prosperity Party wants the African Union to oversee a peaceful resolution of the conflict, Gedion Timothewos, the justice minister, told the state news agency.



The government, however, stood ready to take action if violence continued, Gideon was quoted as saying by the Ethiopian Press Agency.



He did not provide more details on the report from the committee, which is headed by Deputy Prime Minister Demeke Mekonnen.



It had been given 10-15 days to hammer out details of negotiations and government officials told Reuters last week that its report would be made public.



The Tigray People&#8217;s Liberation Front (TPLF), a former rebel army turned political party, said it was prepared to participate in a &#8220;credible, impartial and principled&#8221; peace process, after Abiy announced the formation of the committee.



TPLF spokesperson Getachew Reda did not immediately respond to a request for comment on Prosperity Party&#8217;s position.



In his role as the AU&#8217;s Horn of Africa envoy, former Nigerian President Olusegun Obasanjo has been conducting shuttle diplomacy between the two sides.



The federal government later announced a seven-member negotiating committee led by deputy prime minister Demeke Mekonnen.



It includes a security adviser to Abiy, justice minister Timothewos, the head of the national intelligence service and the head of military intelligence.



Two top officials from the neighboring Amhara and Afar regions, which were heavily affected by the fighting, are also on the committee.



(Reporting by Addis Ababa Newsroom; writing by Hereward Holland; Editing by Duncan Miriri and Alistair Bell)<a href="https://www.reutersconnect.com/all?categories=BUS_SPO_NEWS&amp;id=tag%3Areuters.com%2C2022%3Anewsml_L1N2YE1RO%3A1294005430&amp;languages=ENG&amp;media-types=T&amp;regions=AFR&amp;sources=RTRS#"></a><a href="mailto:?body=Janet.Maloka%40abn360.com%20shared%20a%20story%20with%20you%20on%20Reuters%20Connect.%0A%0A%0AUPDATE%201-African%20Union%20should%20lead%20Tigray%20peace%20talks%2C%20Ethiopia%27s%20ruling%20party%20says%0A%0A%0Ahttps%3A%2F%2Fwww.reutersconnect.com%2Fall%3Fid%3Dtag%253Areuters.com%252C2022%253Anewsml_L1N2YE1RO%26share%3Dtrue%0A%0A-----------------%0A%0AIf%20you%20are%20unable%20to%20see%20the%20news%20item%20or%20receive%20an%20error%2C%20be%20sure%20that%20the%20appropriate%20feeds%20are%20selected%20in%20your%20account%20settings%3Ahttps%3A%2F%2Fwww.reutersconnect.com%2Fsettings%0A&amp;subject=Reuters%20Story%3A%20UPDATE%201-African%20Union%20should%20lead%20Tigray%20peace%20talks%2C%20Ethiopia%27s%20ruling%20party%20says"></a><a href="https://www.reutersconnect.com/all?categories=BUS_SPO_NEWS&amp;id=tag%3Areuters.com%2C2022%3Anewsml_L1N2YE1RO%3A1294005430&amp;languages=ENG&amp;media-types=T&amp;regions=AFR&amp;sources=RTRS#"></a>

Z2WISOQK7FJZXDVL2B2TAZ4MKQ

African Union should lead Tigray peace talks, Ethiopia’s ruling party says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="536" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/VXZEGV7ZCJKWNPRBU4RHXUNWUE-820x536.jpg" alt="" class="wp-image-418055" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/VXZEGV7ZCJKWNPRBU4RHXUNWUE-820x536.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/VXZEGV7ZCJKWNPRBU4RHXUNWUE-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/VXZEGV7ZCJKWNPRBU4RHXUNWUE-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/VXZEGV7ZCJKWNPRBU4RHXUNWUE-768x502.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/VXZEGV7ZCJKWNPRBU4RHXUNWUE.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Britain&#8217;s Prince Charles gets briefed by an aide before attending the Heads of Government and CEOs roundtable during Commonwealth Heads of Government Meeting (CHOGM) at the Intare conference arena on the outskirts Kigali, Rwanda June 23, 2022. REUTERS/Ayenat Mersie</figcaption></figure>



KIGALI, June 24 (Reuters)&nbsp;&#8211;&nbsp;Commonwealth leaders meet in Kigali on Friday to discuss cooperation on topics from trade to health to climate, against a backdrop of criticism of the host Rwanda&#8217;s human rights record and of a British policy to deport asylum seekers there.



The Commonwealth, a club of 54 countries most of which are former British colonies, encompasses about a third of humanity and presents itself as a network of equal partners with shared goals such as democracy, peace and prosperity.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y8519&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Britain&#8217;s Prince Charles and Prime Minister Boris Johnson will attend an opening ceremony along with heads of state and government from most member countries, before the leaders hold two days of talks behind closed doors.



One item on the agenda will be applications by former French colonies Togo and Gabon to join the Commonwealth, a sign of disenchantment within France&#8217;s sphere of influence in Africa and of the attractions of an English-speaking club.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2YA249&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



The theme of the summit, &#8220;Delivering a Common Future: Connecting, Innovating, Transforming&#8221;, offered few clues as to what outcomes were expected.



At previous summits, leaders have agreed on declarations and targets on specific challenges such as malaria, and some of the richer members have pledged funding for specific initiatives.



Some prominent countries, including South Africa, India, Pakistan, Australia and New Zealand sent more junior delegations led by ministers to Kigali.



Earlier this month, 24 civil society groups including Human Rights Watch said the Commonwealth&#8217;s human rights mandate would be undermined if leaders failed to challenge Rwanda on its record.



They said the Rwandan government was responsible for abusive prosecutions, harassment and torture of dissidents, which Rwanda denies.



The hosting of the summit by Rwanda has also kept the spotlight on Britain&#8217;s controversial policy to deport asylum seekers to the country.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2Y10B6&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Prince Charles was reported by British media to have described it as &#8220;appalling&#8221;, an uneasy backdrop to his interactions with both Johnson and Rwandan President Paul Kagame at the summit. However, any tensions were unlikely to be aired in public.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2YA3Q3&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Johnson, asked by Reuters on Thursday if he would visit detention centres prepared by the Rwandan authorities to receive asylum seekers from Britain, said he was &#8220;flat out&#8221; and would not be able to.



(Additional reporting by Andrew MacAskill; Writing by Estelle Shirbon, Editing by William Maclean)

VXZEGV7ZCJKWNPRBU4RHXUNWUE

Commonwealth leaders meet in Rwanda amid criticism of host’s rights record

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1241448826-820x547.jpg" alt="" class="wp-image-418026" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1241448826-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1241448826-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1241448826-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1241448826-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1241448826-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1241448826-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Jamaican Minister of Foreign Affairs &amp; Foreign Trade and Candidate for Commonwealth Secretary-General 2022, Kamina Johnson Smith (R) talks with Prime Minister of The Bahamas, Philip Edward Davis, as they attend breakfast meeting on the climate change and commonwealth, at the Kigali Conference Center in Rwanda on 22 June 2022. &#8211; Rwanda hosts the 26th Commonwealth Heads of Government Meeting (Chogm) from the 20 of june until the 25 june 2022. (Photo by Simon MAINA / AFP) (Photo by SIMON MAINA/AFP via Getty Images)</figcaption></figure>



June 23 (Reuters)&nbsp;&#8211;&nbsp;Heads of government from Commonwealth nations will meet in the Rwandan capital Kigali on Friday and Saturday to discuss cooperation on topics ranging from green energy to rising food prices to the war in Ukraine, among others.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y937V&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Here are some key facts about the Commonwealth and the Kigali summit, which was supposed to be held in 2020 but was twice delayed because of the COVID pandemic.



<h2 class="wp-block-heading" id="h-what-is-the-commonwealth">* What is the Commonwealth?</h2>



It is a voluntary association of 54 countries that evolved gradually from the British Empire and has existed in its modern form since 1949.



<h2 class="wp-block-heading">* Who are its members?</h2>



The Commonwealth includes 13 countries in the Caribbean and the Americas, 19 countries in Africa, three in Europe, eight in Asia and 11 in the Pacific, with a combined population of 2.5 billion.



India accounts for 1.4 billion of its citizens, while 32 members have populations of 1.5 million or less, the smallest being Nauru, which has 10,000 inhabitants.



<h2 class="wp-block-heading">* Are they all former British colonies?</h2>



Most of them are, but that is not a condition for membership. The last two countries to join, Rwanda and Mozambique, have no historical ties to the British Empire.



Gabon and Togo, both former French colonies, are expected to apply to join at the Kigali summit.



<h2 class="wp-block-heading">* What does the Commonwealth do?</h2>



It presents itself as a network for cooperation on common goals such as protecting the environment, boosting trade, supporting democracy, promoting education and gender equality, and giving small states a louder voice on the world stage.



Although it is not a free trade zone, it calculates that its members find it 21% cheaper to trade with other members than with non-Commonwealth countries which are a similar distance away, based on an analysis of World Bank data. Factors include a common language and similar legal and commercial frameworks.



<h2 class="wp-block-heading">* Who heads it?</h2>



Queen Elizabeth has been head of the Commonwealth, a largely symbolic role, since her reign began in 1952. The organisation says the British monarch is not automatically its head, but its members nevertheless agreed at a meeting in London in 2018 that Elizabeth&#8217;s son Prince Charles would succeed her in the role.



Charles is attending the Kigali summit, representing his mother.



<h2 class="wp-block-heading">* Who runs it?</h2>



It has a secretariat based in London and a secretary-general, currently Dominica&#8217;s Patricia Scotland.



Commonwealth leaders will decide in Kigali whether to re-appoint her for a second term or replace her with Kamina Johnson Smith, the Jamaican foreign minister. Britain has criticised Scotland&#8217;s leadership and is backing Johnson Smith, as are India and Belize.



<h2 class="wp-block-heading">* Who is attending the Kigali summit?</h2>



Most heads of government of Commonwealth countries are coming, including Nigeria&#8217;s Muhammadu Buhari, Britain&#8217;s Boris Johnson and Canada&#8217;s Justin Trudeau.



But South Africa&#8217;s Cyril Ramaphosa, India&#8217;s Narendra Modi, Pakistan&#8217;s Shehbaz Sharif, Australia&#8217;s Anthony Albanese and New Zealand&#8217;s Jacinda Ardern are not expected, raising questions about the relevance of the organisation for those countries.



(Reporting by Estelle Shirbon; Editing by Alison Williams)

RWANDA-CHOGAM-JAMAICA

FACTBOX-Commonwealth nations meet in Rwanda – what you need to know

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="561" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240577113-820x561.jpg" alt="" class="wp-image-417985" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240577113-820x561.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240577113-300x205.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240577113-132x90.jpg 132w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240577113-768x525.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240577113-1536x1050.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240577113-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Paul Kabuswe, Zambia&#8217;s mining minister, speaks on day two of the Investing in African Mining Indaba in Cape Town, South Africa, on Tuesday, May 10, 2022. Mining executives, investors and government ministers are meeting in Cape Town for the African Mining Indaba, the continents biggest gathering of one of its most vital industries. Photographer: Dwayne Senior/Bloomberg via Getty Images</figcaption></figure>



LUSAKA, June 22 (Reuters)&nbsp;&#8211;&nbsp;Zambia needs to hold a bigger stake in new mines and local communities should benefit more from the mineral values chain, mines minister Paul Kabuswe said on Wednesday.



&#8220;This government is saying Zambians must be an integral part of whatever investment. We can no longer sit in the terraces and watch,&#8221; Kabuswe said at a conference.



The minister said later in response to questions that the government was planning to increase the state&#8217;s shareholding in new mines to ensure that Zambia maximises its benefits from the sector.



&#8220;Going forward, I don&#8217;t think there will be a mine where Zambia will own less than 20% (of shares). Those days of 10% shareholdings are gone,&#8221; Kabuswe said.



Kabuswe said the government needed to have a golden share in new mines, which would give it controlling voting rights.



Zambia&#8217;s mining investment arm ZCCM-IH holds less than 50% shares in key mining operations and a 20% stake in Kansanshi mine which is majority owned by Canada&#8217;s First Quantum Minerals&nbsp;FM.TO.



(Reporting by Chris Mfula; editing by Alexander Winning and Jason Neely)

Key Speakers on Day Two of Investing in African Mining Indaba

Zambians must benefit more from mining, minister says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="506" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/BEGFD2QKPJMXDEQKX5E4LNLTLI-820x506.jpg" alt="" class="wp-image-417973" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/BEGFD2QKPJMXDEQKX5E4LNLTLI-820x506.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/BEGFD2QKPJMXDEQKX5E4LNLTLI-300x185.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/BEGFD2QKPJMXDEQKX5E4LNLTLI-146x90.jpg 146w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/BEGFD2QKPJMXDEQKX5E4LNLTLI-768x474.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/BEGFD2QKPJMXDEQKX5E4LNLTLI-1536x947.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/BEGFD2QKPJMXDEQKX5E4LNLTLI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Martha Karua, the running mate to Kenya&#8217;s opposition leader and presidential candidate Raila Odinga of the Azimio la Umoja&#8217; (Declaration of Unity), attends an interview with Reuters in Nairobi, Kenya, June 14, 2022. Picture taken June 14, 2022. REUTERS/Thomas Mukoya</figcaption></figure>



NAIROBI, June 21 (Reuters)&nbsp;&#8211;&nbsp;The alliance led by Kenyan presidential candidate Raila Odinga will come down hard on corruption if it wins in August, his running mate Martha Karua said, but dismissed her nickname &#8220;Iron Lady&#8221; as a sexist trope directed at tough women leaders.



&#8220;Strong leadership in women is seen as an exception and not the norm because I haven&#8217;t heard of an &#8216;iron man&#8217;,&#8221; the 64-year-old former justice minister told Reuters in an interview.



Karua and veteran opposition leader Odinga, who heads the Azimio La Umoja One Kenya Alliance coalition, are facing off with Deputy President William Ruto and first time lawmaker Rigathi Gachagua, in an election on Aug. 9.



The election is seen as a key test for stability for East Africa&#8217;s biggest economy. Two of its three last elections were marred by violence, amid disputes over alleged rigging.



Since Karua&#8217;s selection as his running mate, Odinga has overtaken Ruto in opinion polls. A Radio Africa poll, published on June 13, put Odinga ahead with 44.6% of voters favouring him against 38.9% for Ruto.



In his campaign Ruto has largely focused on economic inequality, pledging to lift up Kenya&#8217;s poorest whom he calls &#8220;hustlers&#8221;.



Karua, who would be Kenya&#8217;s first female deputy president if elected, said Azimio&#8217;s priority once in power would be to stamp out corruption, which is estimated to cost the government a third of its budget every year, about 800 billion shillings ($6.83 billion).



She said the funds lost each year would be enough to fund her coalition&#8217;s plan to offer direct monthly support to 2 million of Kenya&#8217;s poorest people.



&#8220;Corruption is strangling or choking the nation,&#8221; she said at her NARC-Kenya party office.



<h2 class="wp-block-heading" id="h-tough">TOUGH</h2>



A former political prisoner, Odinga, 77, ran his previous four races as an anti-establishment candidate, but now he has teamed up with outgoing President Uhuru Kenyatta whose ruling Jubilee Party is also part of his alliance.



Kenyatta, who must stand down after serving the maximum of two five-year terms, opted to back Odinga against his deputy Ruto, with whom he had a falling out.



In Odinga&#8217;s last three campaigns for office in 2007, 2013, and 2017, he challenged the outcomes, saying his victories were stolen. Deadly clashes followed the 2007 and 2017 votes.



Kenya is East Africa&#8217;s most well-off and stable nation and a close Western ally that hosts the regional headquarters of international firms like Alphabet Inc (GOOGL.O).



But public debt has more than tripled by 7 trillion shillings ($61.32 billion) since Kenyatta assumed office in 2013, pushing against the nation&#8217;s debt ceiling.



&#8220;Our intention is to renegotiate the debt and make them long term so that we are able to meet our obligations,&#8221; Karua said.



She said Azimio also wants closer scrutiny of private wealth of public sector workers and political leaders, adding that tackling corruption was the only way to fix the country.



&#8220;It is governance, stupid!&#8221; she said, adapting a well-known line from an advisor of former U.S. president Bill Clinton.



Odinga has already designated Karua as his justice minister if they win. Over the years she has earned the nickname Kenyan &#8220;Iron Lady&#8221; for her determination, starting with her victory over a powerful former civil service head during her first parliamentary election in 1992.



In 2001, she defiantly walked out of a rally by former authoritarian president Daniel arap Moi, after she was denied a chance to speak.



She also left the cabinet after six years in 2009 because of differences with the then government of President Mwai Kibaki on human rights, tackling corruption and judicial appointments.



Among her achievements Karua said she counted her role in helping to lay the ground for Kenya&#8217;s constitutional charter and fighting for multi-party democracy as a lawyer in the early 1990s.



Karua said she learnt early lessons on taking responsibility from her paternal grandmother in a rural county near Mt. Kenya where she grew up on a farm and took care of her younger siblings while also attending school.



&#8220;I&#8217;m grateful for that sort of upbringing. I&#8217;m not able not to give a 100 or 102%. Work is in me,&#8221; she said.



($1 = 117.1000 Kenyan shillings)



(Reporting by Duncan MiririEditing by Raissa Kasolowsky)

Interview with Martha Karua, Kenya’s opposition leader Raila Odinga’s running mate, in Nairobi

Odinga’s running mate in Kenyan election promises corruption crackdown if elected

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-820x547.jpg" alt="" class="wp-image-417697" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1237649604-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>The seal for the International Monetary Fund is seen near the World Bank headquarters (R) in Washington, DC on January 10, 2022. (Photo by Stefani Reynolds / AFP) (Photo by STEFANI REYNOLDS/AFP via Getty Images)</figcaption></figure>



LUSAKA, June 16 (Reuters)&nbsp;&#8211;&nbsp;Zambia&#8217;s government presented its official creditors with plan for getting its debt under control on Thursday, requesting assurances of help from them in order to unlock an International Monetary Fund support programme.



Zambia, which is seeking relief on more than $17 billion of external debt, held its first meeting with official creditors on Thursday, and the International Monetary Fund urged Zambia&#8217;s them to give assurances on their &#8220;treatment&#8221; of the southern African country&#8217;s debt as a precondition of its support.



&#8220;(The) government presented to the official creditors the path envisioned for reaching debt sustainability and the support that will be needed from international partners, including initial assurances of debt treatment,&#8221; the Finance Ministry said in a statement after the virtual talks with creditors in Paris.



The restructuring is being conducted under a new common framework supported by the Group of 20 major economies and is being closely watched as it will likely set a precedent for other similarly distressed countries. Zambia became Africa&#8217;s first pandemic-era default in November 2020.



Under the G20 framework, the priority is meant to be on maturity extensions on debt, while haircuts are reserved for exceptional cases, and officials involved in the negotiations have not said what type of restructuring is on the table.



Underscoring the challenges it faces, Zambia on Thursday made a surprise move to extend its fuel subsidy. The eventual scrapping of the subsidy is a condition of receiving debt support, including a $1.4 billion three-year extended credit facility agreed at IMF staff level in December. <a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y33CJ&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



<h3 class="wp-block-heading" id="h-read-more-zambia-says-first-creditor-meeting-set-for-thursday">Read more: <a href="https://www.cnbcafrica.com/2022/zambia-says-first-creditor-meeting-set-for-thursday/">Zambia says first creditor meeting set for Thursday</a></h3>



Explaining the move, Energy Minister Peter Kapala said in a statement: &#8220;Though government policy is not to subsidise fuel imports &#8230; the government is also acutely aware of the impact that unfettered fuel price hikes cause.&#8221;



IMF Deputy Managing Director Antoinette Sayeh visited Zambia on Wednesday to discuss the support programme, which Zambian officials hope to start in September, and Finance Minister Situmbeko Musokotwane said major creditors were willing to discuss debt restructuring.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y21YC&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;We look forward to continued engagement with the Fund as we negotiate with our creditors and seek a solution to the debt crisis facing our country,&#8221; Musokotwane said in a statement.



Sayeh earlier on Thursday described Zambia&#8217;s implementation of its economic programme as impressive.



As well as scrapping the fuel subsidy, other efforts to impose discipline on public spending include slashing handouts to agriculture but also re-directing some of that money to education and health.



&#8220;We urge creditors to provide financing assurances as soon as possible, as they are needed before staff can put forward Zambia&#8217;s program,&#8221; she said.



Zambia&#8217;s foreign debt is owed to bondholders, sovereign bilateral lenders and multilateral institutions.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2Y11SQ&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



(Reporting by Chris Mfula; Writing by Tim Cocks; Editing by Alison Williams and Gareth Jones)

US-ECONOMY-FINANCE-IMF-WORLD BANK

Zambia asks creditors to give debt assurances to unlock IMF programme

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="548" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/PI5YJMXN6VK27HG35T4H646NWM-820x548.jpg" alt="" class="wp-image-417874" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/PI5YJMXN6VK27HG35T4H646NWM-820x548.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/PI5YJMXN6VK27HG35T4H646NWM-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/PI5YJMXN6VK27HG35T4H646NWM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/PI5YJMXN6VK27HG35T4H646NWM-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/PI5YJMXN6VK27HG35T4H646NWM-1536x1027.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/PI5YJMXN6VK27HG35T4H646NWM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Members of the staff board a plane reported by British media to be first to transport migrants to Rwanda, at MOD Boscombe Down base in Wiltshire, Britain, June 14, 2022. REUTERS/Henry Nicholls/File Photo</figcaption></figure>



LONDON, June 15 (Reuters)&nbsp;&#8211;&nbsp;Britain pressed on with its strategy of deporting asylum seekers to Rwanda on Wednesday and is planning further flights despite a last-minute intervention by European judges that grounded the first plane minutes before it was due to depart.



The government was thwarted in its attempt to send a handful of migrants on a charter plane more than 4,000 miles (6,4000 km) to Rwanda on Tuesday night after the European Court of Human Rights (ECHR) stepped in to issue injunctions, meaning the flight was cancelled.



&#8220;We will not be put off by the inevitable legal last minute challenges nor we will allow mobs&#8230;to block removals,&#8221; Home Secretary (interior minister) Priti Patel told parliament, saying the government was committed to the policy.



&#8220;We believe that we are fully compliant with our domestic and international obligations, and preparations for our future flights and the next flights have already begun,&#8221; she added.



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2022/uk-courts-to-hear-last-minute-appeals-to-stop-first-rwanda-deportation-flight-leaving/">UK courts to hear last-minute appeals to stop first Rwanda deportation flight leaving</a></h3>



London struck a deal with Rwanda in April to sends tens of thousands of asylum seekers who arrived illegally in Britain to the East African country to have their claims processed. The British government says the plan will stem the flow of migrants who make dangerous trips across the English Channel from France.



The United Nations&#8217; refugee chief has called the policy &#8220;catastrophic&#8221;, the entire leadership of the Church of England denounced it as immoral and shameful, and media reports have said Prince Charles, the heir to the throne, had privately described the plan as &#8220;appalling&#8221;.



The government argues the policy will smash the business model of people-smuggling networks, but political opponents say it is a divisive stunt and an expensive shambles.



The European court&#8217;s late intervention has also led some in Prime Minister Boris Johnson&#8217;s Conservative Party to call for Britain to pull out of the European Convention on Human Rights altogether.



One minister said she was not aware of any such plan, but Johnson&#8217;s spokesman said nothing was being ruled out.



<h2 class="wp-block-heading" id="h-all-options-on-table">ALL OPTIONS ON TABLE</h2>



&#8220;We will do whatever it takes to deliver this new approach, including being prepared to explore any and all further legal reforms that may be necessary,&#8221; the spokesman said. &#8220;We are keeping all options on the table.&#8221;



Law experts said Britain would be joining Belarus and Russia in not being part of the convention if it were to opt out.



While a number of migrants had their removal blocked by British courts on an individual basis in the days leading up to the flight, Patel said the ECHR had intervened to block three deportations, preventing anyone from being on the plane.



In its ruling regarding one of the men, the European court said he should not be removed until after a full court trial is held in London to decide on the legality of the scheme. This is due to take place next month.



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2022/uks-johnson-seeks-to-put-fine-behind-him-with-immigration-plan/">Britain reaches deal to resettle asylum seekers in Rwanda</a></h3>



Patel said the government believes this did not preclude other flights from being able to leave in the meantime.



Britain hopes the $150 million deal with Rwanda will put a stop to dangerous journeys by migrants in small boats across the English Channel, with more than 28,500 people arriving from Europe last year. On Tuesday alone, another 444 were detected.



Patel said it cost 5 million pounds a day to accommodate the migrants.



Polls indicate the British public are evenly split on the issue, with many wanting action on illegal immigration &#8211; something which played a major role in the 2016 vote for Brexit &#8211; while others say the policy harms Britain&#8217;s international reputation.



Rwanda, whose own human rights record is under scrutiny, said it also remained fully committed to the plan.



(Writing by Kate Holton and Michael Holden; additional reporting by Alistair Smout; editing by James Davey, Tomasz Janowski and Angus MacSwan)

FILE PHOTO: First Rwanda deportation flight set to leave Britain

UK pushes on with plan to deport migrants to Rwanda

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-820x547.jpg" alt="" class="wp-image-417818" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240479080-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Situmbeko Musokotwane, Zambia&#8217;s finance minister, during an interview at his office in Lusaka, Zambia, on Thursday, May 5, 2022. China should head the creditors committee being formed to renegotiate Zambias $17.3 billion of foreign debt because that will help accelerate the resolution process, Musokotwane said. Photographer: Zinyange Auntony/Bloomberg via Getty Images</figcaption></figure>



LUSAKA, June 14 (Reuters)&nbsp;&#8211;&nbsp;Zambia will hold its first meeting with its international creditors on Thursday, finance minister Situmbeko Musokotwane said, but acknowledged that the government&#8217;s aim of concluding negotiations by the end of June no longer looked tenable.



&#8220;We are one step closer to debt resolution because those discussions are beginning this Thursday,&#8221; Musokotwane told a media briefing on Tuesday.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2Y01I8&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



France, which hosts the Paris Club forum for international creditors, and China are co-chairs of the bilateral negotiations to restructure Zambia&#8217;s external debt, which stood at $17.27 billion at the end of 2021, according to government data.



The southern African country reached a staff-level deal on a $1.4 billion three-year extended credit facility with the International Monetary Fund in December and needs to finish bilateral talks to secure the funding.



In 2020, Zambia became the first pandemic-era sovereign default, buckling under a debt burden of more than 120% of gross domestic product (GDP).



Musokotwane said that he was hopeful the IMF programme would kick in after the creditor meeting and that Zambia had been ready for the meeting since December, but creditors had their own issues which had now been resolved.



&#8220;We are another step forward towards resolving this problem of unsustainable debt,&#8221; he said.



Musokotwane had previously repeatedly said he hoped the restructuring process would be done by the end of June, a timetable analysts had long deemed ambitious.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2WY0IC&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



Last month, sources with knowledge of the process said China was holding up the debt relief discussions. China said it was ready to support Zambia with its debts.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2XI3FU&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



China and Chinese entities held $5.78 billion of Zambia&#8217;s debt at the end of 2021.



(Reporting by Chis Mfula; Writing by Bhargav Acharya and Rachel Savage; Editing by Olivia Kumwenda-Mtambo, Alexander Winning and Susan Fenton)

Zambia says first creditor meeting set for Thursday

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240898038-820x547.jpg" alt="" class="wp-image-417802" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240898038-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240898038-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240898038-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240898038-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240898038-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/06/GettyImages-1240898038-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Kenneth Ofori-Atta (R), Ghanas Minister of Finance, shakes hands ith Dr Akinwuni A. Adesina (L), president of the African Development Bank Group during a ceremony for the signature of the Ghana Solar Photovoltaic-Based Net Metering Project in Accra, Ghana, on May 25, 2022. &#8211; The Solar Photovoltaic-Based Net Metering Project is to support renewable energy in Ghana and the African Development Bank is the lead Multilateral Development Bank (MDB) for the Ghana SREP programme. (Photo by Nipah Dennis / AFP) (Photo by NIPAH DENNIS/AFP via Getty Images)</figcaption></figure>



LONDON, June 14 (Reuters)&nbsp;&#8211;&nbsp;A new Ghanaian government-owned development bank aims to lend $600 million to small businesses over the next one to two years, its chief executive said, to help meet demand for credit and contribute to growth in the inflation-wracked west African country.



The World Bank, Germany&#8217;s development agency KfW, the European Investment Bank (EIB), and the African Development Bank (AfDB) have also put in funds, the Development Bank of Ghana CEO Kwamina Duker told Reuters ahead of its official launch on Tuesday.



Companies with 100 workers or less struggle to get loans in Ghana, with a World Bank&nbsp;<a href="https://documents.worldbank.org/en/publication/documents-reports/documentdetail/934351587974318392/improving-access-to-finance-for-ghanaian-smes-role-for-a-new-dfi" target="_blank" rel="noreferrer noopener">report</a>&nbsp;estimating the gap between supply and demand was equivalent to 13% of GDP in 2017.



&#8220;(There is) very little long-term financing available, at rates that will allow our SMEs (small and medium enterprises) to grow,&#8221; Duker said.



DBG is owned by Ghana&#8217;s government, which is putting in $250 million equity. The AfDB is granting $40 million, while the World Bank is lending $200 million and the EIB and KfW 170 million euros ($177.7 million) and 46.5 million euros, respectively.



Duker said it would lend between $5 million and $30 million to commercial banks, with four &#8211; CalBank&nbsp;CAL.GH, Consolidated Bank Ghana, Fidelity Bank of Ghana&nbsp;FIDELIT.LG&nbsp;and GCB Bank&nbsp;GCB.GH&nbsp;&#8211; already signed up.



Those banks would then make three to 15 year loans of $25,000 to $3 million to small companies.



DBG&#8217;s aim, which currently has 40 staff, is to raise the proportion of loans given to small businesses in Ghana from around 9% to 15% in two years, Duker said.



Duker declined to share details of interest rates, but said they would be lower than those currently available commercially.



Inflation in Ghana rose to a new 18-year high of 27.6% in May and interest rates were hiked 200 basis points to 19% the same month, to try to stem the rise in prices.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2XV2IG&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a><a href="https://www.reutersconnect.com/all?search=all%3AL5N2XF33D&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a>



&#8220;Is this a difficult time? Absolutely,&#8221; Duker said. &#8220;Is this a time when a development bank is needed more than ever? Absolutely.&#8221;



($1 = 0.9566 euros)



(Reporting by Rachel Savage; Editing by Marguerita Choy)

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East Africa

Zambia’s creditors seen offering financial assurances by end-July -source

Congo, Rwanda agree at Angola summit to reduce tension

Congo and Rwanda to begin talks amid tensions over insurgency

Rwanda’s Kagame has no problem being excluded from Congo regional military force

Crisis-hit Ghana changes its mind and turns to IMF for help

Police disperse protest over economic hardship in Ghana

Rwandans fear leaving their homes in Congo as anger grows over rebel attacks

IMF’s board to review Kenya’s performance in mid-July, $239 mln at stake

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Commonwealth leaders meet in Rwanda amid criticism of host’s rights record

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Odinga’s running mate in Kenyan election promises corruption crackdown if elected

Zambia asks creditors to give debt assurances to unlock IMF programme

UK pushes on with plan to deport migrants to Rwanda

Zambia says first creditor meeting set for Thursday

Ghana development bank aims to lend $600 mln to small firms over 1-2 years

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