<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/MTPYEYSKNVOEZBDRFXJLTR5D3Q-820x547.jpg" alt="" class="wp-image-413225" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/MTPYEYSKNVOEZBDRFXJLTR5D3Q-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/MTPYEYSKNVOEZBDRFXJLTR5D3Q-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/MTPYEYSKNVOEZBDRFXJLTR5D3Q-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/MTPYEYSKNVOEZBDRFXJLTR5D3Q-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/MTPYEYSKNVOEZBDRFXJLTR5D3Q.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>A general view of the skyline of Addis Ababa, Ethiopia November 3, 2021. REUTERS/Tiksa Negeri</figcaption></figure>



ADDIS ABABA, Nov 4 (Reuters) &#8211; Diplomatic efforts to try to avert an attack on Ethiopia&#8217;s capital gathered pace on Thursday after Tigrayan forces from the north of the country made advances towards the city this week.



The U.S. special envoy for the Horn of Africa, Jeffrey Feltman, was expected to arrive in Addis Ababa later in the day to press for a halt to military operations and a start to ceasefire talks.



Ugandan President Yoweri Museveni called an East African bloc leaders&#8217; meeting on Nov. 16 to discuss the conflict, which pits the central government against the Tigray People&#8217;s Liberation Front (TPLF) and its allies.



Separately, the bloc, the Intergovernmental Authority on Development, appealed for an immediate ceasefire. It urged the parties to show restraint, de-escalate tensions and resolve their differences through dialogue.



Kenyan President Uhuru Kenyatta issued a statement on Wednesday saying &#8220;The fighting must stop!&#8221;



He called on the rival parties &#8220;to put down their arms and to cease the fighting, to talk, and to find a path to sustainable peace&#8221;.



U.N. Secretary-General Antonio Guterres said he had spoken to Ethiopian Prime Minister Abiy Ahmed on Wednesday &#8220;to offer my good offices to create the conditions for a dialogue so the fighting stops&#8221;.



In another sign of alarm, the U.S. Embassy in Addis Ababa authorised the voluntary departure of some staff and family members because of the intensifying hostilities.



<a href="https://www.reuters.com/world/africa/us-gravely-concerned-by-escalating-violence-ethiopia-ahead-envoys-visit-2021-11-03">Washington said on Wednesday it was &#8220;gravely concerned&#8221; about the situation</a> and called for a halt to military operations in favour of ceasefire talks.



&#8220;The (State) Department authorized the voluntary departure of non-emergency U.S. government employees and family members of emergency and non-emergency employees from Ethiopia due to armed conflict, civil unrest, and possible supply shortages,&#8221; the embassy said in a statement.



Police had arrested &#8220;many people&#8221; in Addis Ababa since the government declared a state of emergency on Tuesday, police spokesperson Fasika Fanta said on Thursday.



Residents told Reuters on Wednesday that many Tigrayans had been arrested, but Fasika said arrests were not based on ethnicity.



&#8220;We are only arresting those who are directly or indirectly supporting the illegal terrorist group,&#8221; he said. &#8220;This includes moral, financial and propaganda support.&#8221;



He also said many people were registering weapons at police stations around the city in line with a government directive issued on Tuesday for people to prepare to defend their neighbourhoods.



&#8220;Some are even coming with bombs and heavy weapons. We are registering those too,&#8221; he said.



The streets and shops in Addis Ababa, a city of around five million people, were busy as usual on Thursday morning, though some residents said there was a feeling of uneasy calm.



&#8220;There are rumors about the approach of the rebels. People debate about the conflict, most of the people accuse the government for what happened,&#8221; said one man, who spoke on condition of anonymity.



Abiy&#8217;s government declared the state of emergency on Tuesday as the <a href="https://www.reuters.com/world/africa/addis-ababa-government-urges-residents-register-arms-media-2021-11-02">Tigrayan forces threatened to push forward to Addis Ababa.</a>



The Tigrayan troops are in the town of Kemise in Amhara state, 325 km (200 miles) from the capital, TPLF spokesman Getachew Reda, said on Wednesday.



Government spokesperson Legesse Tulu did not respond to requests for comment.



<h2 class="wp-block-heading" id="h-year-old-conflict">YEAR-OLD CONFLICT</h2>



Abiy&#8217;s spokesperson, Billene Seyoum, accused the international media of being &#8220;overly alarmist&#8221; in its coverage of Ethiopia.



&#8220;Perpetuating terrorist propaganda as truth from offices far off and detached from the ground is highly unethical, she said in a tweet.



On Wednesday, Britain urged its citizens to consider leaving Ethiopia while commercial options were available.



The conflict started a year ago when forces loyal to the TPLF, including some soldiers, seized military bases in Tigray. In response, Abiy sent more troops to the northern region.



The TPLF had dominated national politics for nearly three decades but lost much influence when Abiy took office in 2018 following years of anti-government protests.



The TPLF then accused him of centralising power at the expense of Ethiopia&#8217;s regional states &#8211; an accusation Abiy denies.



The Tigrayan forces and their Oromo allies have made significant advances in the past week. Spokesman Getachew on Wednesday pledged to minimise casualties in their drive to take Addis Ababa.



&#8220;We don&#8217;t intend to shoot at civilians and we don&#8217;t want bloodshed. If possible we would like the process to be peaceful,&#8221; he said.



A regional analyst, who spoke on condition of anonymity, said the TPLF was likely to hold off on any advance on Addis Ababa until they secured the highway running from neighbouring Djibouti to the capital.



That requires seizing the town of Mille. Getachew said on Tuesday that Tigrayan forces were closing in on Mille.



Ethiopian military spokesman Colonel Getnet Adane did not immediately respond to a request for comment.



(Reporting by Addis Ababa newsroom; Additional reporting by George Obulutsa and Ayenat Mersie in Nairobi; Writing by Maggie Fick; Editing by Clarence Fernandez, Robert Birsel and Angus MacSwan)

MTPYEYSKNVOEZBDRFXJLTR5D3Q

Diplomats work to avert attack on Ethiopian capital

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/49948352483_5753c4c613_o-820x547.jpg" alt="" class="wp-image-413221" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/49948352483_5753c4c613_o-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/49948352483_5753c4c613_o-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/49948352483_5753c4c613_o-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/49948352483_5753c4c613_o-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/49948352483_5753c4c613_o-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/49948352483_5753c4c613_o-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption> Marco Verch is a Professional Photographer &#038; Twitch Streamer from Cologne.

 

📝 This image is available under Creative Commons 2.0 (Attribution required). Please link to the original photo and the license. License for use outside of the Creative Commons is available by request.
Photo: via Flickr</figcaption></figure>



DAR ES SALAAM, Nov 4 (Reuters) &#8211; Tanzania expects its overall spending to rise 7% in the fiscal year from June 2022 to July 2023 fiscal year and economic growth to jump in 2022, its finance minister said.



Mwigulu Nchemba said in a speech to parliament late on Wednesday he forecast overall spending to rise to 39.39 trillion Tanzanian shillings ($17.2 billion) from 36.68 trillion shillings in the year to the end of June 2022, and aimed to keep the budget deficit at below 3% of gross domestic product.



He said economic growth was forecast to jump to 5.2% in 2022 from an estimated 5% this year. The 2021 forecast is lower than the 5.6% figure the finance ministry gave in June.



Nchemba said the 2022/23 budget would focus on construction of a standard gauge railway, a 2,115-megawatt (MW) hydropower dam in eastern Tanzania, a crude oil pipeline from Uganda and a liquefied natural gas processing plant in Lindi in the country&#8217;s southeast.



Other projects the government would focus on are two hydropower projects with a total installed capacity of 580 MW, Nchemba said.



($1 = 2,296 Tanzanian shillings) 



(Reporting by Nuzulack Dausen; Writing by George Obulutsa; Editing by Alison Williams and Christian Schmollinger)

Text GDP on coin stacks

Tanzania GDP to expand 5.2% in 2022 from estimated 5% in 2021

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="555" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-820x555.jpg" alt="" class="wp-image-413198" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-820x555.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-300x203.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-133x90.jpg 133w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-768x519.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-1536x1039.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/GettyImages-1194859854-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>PARIS, FRANCE &#8211; DECEMBER 19: International Monetary Fund (IMF) Managing Director Kristalina Georgieva is welcomed by General secretary of the presidency Alexis Kohler as she arrives at the Elysee Presidential Palace prior to a meeting with French President Emmanuel Macron on December 19, 2019 in Paris, France. Kristalina Georgieva is the new Managing Director of the IMF, she took office on October 1, 2019. (Photo by Chesnot/Getty Images)</figcaption></figure>



GLASGOW, Nov 3 (Reuters) &#8211; International Monetary Fund chief Kristalina Georgieva said on Wednesday she was &#8220;very optimistic&#8221; about reaching a lending arrangement with Zambia, one of just three countries that has sought debt restructuring under a G20 framework.



Georgieva told Reuters on the sidelines of the COP26 UN climate conference that Zambian authorities had done &#8220;fantastic&#8221; work in terms of debt transparency and engaging with creditors, but more work was needed on financial assurances.



&#8220;We are not yet quite there, but they are very determined,&#8221; she said. &#8220;So I&#8217;m very optimistic. (It&#8217;s) not quite yet closed, but I&#8217;m optimistic that we will have a good arrangement.&#8221;



Zambia&#8217;s finance ministry on Wednesday said it expected to resume talks with the IMF on Thursday about an agreement <a href="https://www.reuters.com/article/zambia-economy-imf-idAFJ8N2PD00I">mapping out economic reforms</a> and a medium-term macro-fiscal framework that, together with a debt restructuring package, would restore the country&#8217;s fiscal and debt sustainability.



Zambia hopes to secure an IMF support agreement by the end of November, but Georgieva declined to give a timetable.



Zambia became Africa&#8217;s first COVID-era sovereign default one year ago after years of government overborrowing drove <a href="https://www.reuters.com/article/zambia-debt/update-6-zambia-will-miss-eurobond-payment-setting-stage-for-default-idUSL1N2HZ0R1">its debt burden above 120%</a> of annual economic output.



<h3 class="wp-block-heading" id="h-read-more-imf-says-africa-urgently-needs-vaccines-to-halt-repeated-covid-waves">Read more: <a href="https://www.cnbcafrica.com/2021/imf-says-africa-urgently-needs-vaccines-to-halt-repeated-covid-waves-2/">IMF says Africa urgently needs vaccines to halt repeated COVID waves</a></h3>



An IMF agreement would help advance Zambia&#8217;s bid to restructure its broader debt burden under the G20 Common Framework agreed with the Paris Club of official creditors. Chad and Ethiopia are the other countries that have sought such help.



Georgieva said reaching a deal with Zambia would allow the country&#8217;s &#8220;very determined and progressive leadership&#8221; to address its heavy debt burden and other problems. It would also embolden other countries that needed help to step forward and seek debt restructuring under the framework, she said.



Zambia&#8217;s 2024 bond gained 0.5 cents in the dollar, rising to just under 80 cents &#8211; levels last seen in spring 2019, Tradeweb data showed. The bonds have risen by 12 cents or more since Hakainde Hichilema secured a landslide win in the August 12 election.



Georgieva said the Zambian process also pointed to the need to reform the Common Framework, to ensure quicker timelines for setting up creditors committees and concluding the process, and finding ways to incentivize countries to seek help.



Georgieva said she and World Bank President David Malpass would continue to push the G20 economies to offer a freeze in debt payments once a country sought help under the framework.



G20 finance ministers failed to add the debt standstill to the framework when they met in Rome last week, but Georgieva&#8217;s comments make clear that the issue remains on the table.



(Reporting by Andrea Shalal, additional reporting by Karin Strohecker; Graphic by Marc Jones; editing by Karin Strohecker and Toby Chopra)

French President Emmanuel Macron receives Kristalina Georgieva, International Monetary Fund (IMF) Managing Director

IMF chief Georgieva says ‘very optimistic’ about reaching loan deal with Zambia

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/SU76VGVVABMKBHYB6RQ3Z46ELE-820x547.jpg" alt="" class="wp-image-413187" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/11/SU76VGVVABMKBHYB6RQ3Z46ELE-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/SU76VGVVABMKBHYB6RQ3Z46ELE-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/SU76VGVVABMKBHYB6RQ3Z46ELE-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/SU76VGVVABMKBHYB6RQ3Z46ELE-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/11/SU76VGVVABMKBHYB6RQ3Z46ELE.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Police officers walk amongst civilians at the Meskel Square in Addis Ababa, Ethiopia February 21, 2018. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



ADDIS ABABA, Nov 2 (Reuters) &#8211; Ethiopia declared a six-month state of emergency on Tuesday after forces from the northern region of Tigray said they were gaining territory and considering marching on the capital Addis Ababa.



The announcement came two days after Prime Minister Abiy Ahmed urged citizens to take up arms to defend themselves against the Tigray People&#8217;s Liberation Front (TPLF).



Earlier on Tuesday, authorities in Addis Ababa told residents to register their arms and prepare to defend their neighbourhoods.



The state of emergency was imposed with immediate effect after the TPLF claimed to have captured several towns in recent days and said it might march on Addis Ababa, about 380 km (235 miles) to the south of their forward positions.



&#8220;Our country is facing a grave danger to its existence, sovereignty and unity. And we can’t dispel this danger through the usual law enforcement systems and procedures,&#8221; Justice Minister Gedion Timothewos told a state media briefing.



He said anyone violating the emergency would face three to 10 years in prison, for offences such as providing financial, material or moral support to &#8220;terrorist groups&#8221;.



Ethiopia last imposed such a measure in February 2018 for six months ahead of the transition of power to Abiy. Curfews were enforced and people&#8217;s movements restricted, while thousands of people were detained.



The Addis Ababa city administration said people should register their weapons and gather in their neighbourhoods. House-to-house searches were being conducted and troublemakers arrested, a statement said.



&#8220;Residents can gather in their locality and safeguard their surroundings. Those who have weapons but can&#8217;t take part in safeguarding their surroundings are advised to hand over their weapons to the government or their close relatives or friends.&#8221;



Before the announcement, people moved around the capital as normal.



&#8220;I will try to buy food commodities in advance. But so far I haven&#8217;t yet purchased anything,&#8221; said one woman who asked not to be named.



The governments of four of Ethiopia&#8217;s 10 regions also called upon Ethiopians to mobilize to fight against the Tigrayan forces, state-affiliated Fana TV said.



The conflict in what was once considered a stable Western ally in a volatile region has plunged around 400,000 people in Tigray into famine, killed thousands of civilians and forced more than 2.5 million people in the north to flee their homes.



It erupted in the night of Nov. 3, 2020 when forces loyal to the TPLF &#8211; including some soldiers &#8211; seized military bases in Tigray, a northern region. In response, Abiy sent more troops there.



The TPLF had dominated Ethiopian politics for nearly three decades but lost much influence when Abiy took office in 2018 following years of anti-government protests.



Relations with the TPLF soured after they accused him of centralising power at the expense of Ethiopia&#8217;s regional states &#8211; an accusation Abiy denies.



<h2 class="wp-block-heading" id="h-towns-captured">TOWNS CAPTURED</h2>



TPLF spokesperson Getachew Reda said that if Tigrayan forces and their allies succeeded in removing the government, they would establish an interim government. &#8220;If the government falls, we will definitely have an interim arrangement.&#8221;



There would also need to be a national dialogue, he said, but Abiy and his ministers would not be asked to take part. &#8220;They will have their day in court,&#8221; he said.



The TPLF has claimed the capture of Dessie, Kombolcha and Burka, all in the Amhara region, in recent days.



A government spokesperson disputed the capture of Dessie and Kombolcha but later released a statement saying TPLF &#8220;infiltrators&#8221; had killed 100 youths in Kombolcha.



Spokespeople for the government, military and the Amhara region did not return calls seeking further comment on Tuesday.



On Monday night, <a href="https://www.reuters.com/article/ethiopia-conflict-link-idAFL8N2RS5NL">Tigrayan forces said they had linked up with fighters from an Oromo force also fighting the central government</a>. The Oromo are Ethiopia&#8217;s biggest ethnic group. Many of their political leaders are currently in prison.



U.N. Secretary-General Antonio Guterres is &#8220;extremely concerned&#8221; by the latest developments in Ethiopia, said U.N. spokesperson Stephane Dujarric said. &#8220;The stability of Ethiopia and the wider region is at stake,&#8221; Dujarric said.



U.S. ALARM



The U.S. Special Envoy for the Horn of Africa said on Tuesday Washington was alarmed by the deteriorating humanitarian situation in the north, including signs of famine, and urged all sides to find ways to de-escalate and let aid in.



Also on Tuesday, <a href="https://www.reuters.com/article/us-ethiopia-conflict-trade/biden-says-ethiopia-mali-and-guinea-to-lose-duty-free-trade-access-idINKBN2HN1QQ">U.S. President Joe Biden&#8217;s administration accused Ethiopia of &#8220;gross violations of internationally recognised human rights&#8221;</a> and said it planned to remove the country from the African Growth and Opportunity Act (AGOA) trade agreement which gives it duty-free access to the United States.



Ethiopia&#8217;s trade ministry said it was &#8220;extremely disappointed&#8221; by the U.S. move and called for a reversal by January.



&#8220;The Ethiopian government takes all human rights allegations seriously: we are looking at them and conducting investigations and we are committed to ensuring accountability,&#8221; it said.



(Reporting by Addis Ababa newsroom, Maggie Fick and Katharine Houreld in Nairobi, Humeyra Pamuk and Simon Lewis in Washington, Michelle Nichols at the United Nations; Editing by Angus MacSwan and Mark Heinrich)

SU76VGVVABMKBHYB6RQ3Z46ELE

Ethiopia declares state of emergency as Tigrayan forces gain ground

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="360" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/03/istockphoto-1250489640-640x640-1.jpg" alt="" class="wp-image-400524" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/03/istockphoto-1250489640-640x640-1.jpg 640w, https://cms.cnbcafrica.com/wp-content/uploads/2021/03/istockphoto-1250489640-640x640-1-300x169.jpg 300w" sizes="auto, (max-width: 640px) 100vw, 640px" /><figcaption>World Bank on glass building. Mirrored sky and city modern facade. Global capital, business, finance, economy, banking and money concept seamless and loopable 3D rendering animation.</figcaption></figure>



NAIROBI, Oct 27 (Reuters) &#8211; Climate change will force tens of millions of East Africans to abandon their homes within the next three decades, even if schemes to reduce its impact on the region are rolled out, the World Bank said on Wednesday.



People affected will include drought-stricken farmers seeking new arable land or different work in urban areas, and others driven out by the need to find clean water, the Bank said in a report issued four days before the U.N. COP26 climate summit begins in Glasgow.



East Africa&#8217;s five nations &#8211; Kenya, Rwanda, Tanzania, Uganda and Burundi &#8211; have increasingly experienced extreme weather events in recent years.



Apart from a worsening drought in a region heavily reliant on agriculture, there was extensive flooding in 2020, while a locust infestation of historic proportions that began in 2019 continues to wreak havoc.



<h3 class="wp-block-heading" id="h-read-more-african-governments-want-climate-finance-to-hit-1-3-trillion-by-2030">Read more: <a href="https://www.cnbcafrica.com/2021/african-governments-want-climate-finance-to-hit-1-3-trillion-by-2030/">African governments want climate finance to hit $1.3 trillion by 2030</a></h3>



&#8220;Without broad, urgent action&#8230; as many as 38.5 million people could be internally displaced as a consequence of climate change by 2050,&#8221; said Hafez Ghanem, World Bank vice president for the region.



Concrete steps to reduce greenhouse gas emissions and fund climate change and adaptation schemes could cut the projected number of displacements, but only by 30%, the bank&#8217;s report said.



The bank has committed to ensuring 35% of its financing over the next five years will go to projects that will help address the threat of climate change, Ghanem said.



Kenya has demonstrated leadership in the region in establishing a policy framework to manage climate risk, &#8220;though climate action is still under-funded,&#8221; said Keith Hansen, World Bank&#8217;s country director for Kenya.



Rich nations promised in 2009 to deliver $100 billion a year for five years from 2020 to poorer countries to help them tackle the impact of global warming. But that funding programme is set to be delayed by three years, COP26 president Alok Sharma admitted on Monday. 



(Reporting by Duncan Miriri; Editing by George Obulutsa and John Stonestreet)

istockphoto-1250489640-640×640

Climate change to displace tens of millions of East Africans by 2050 -World Bank

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234712281-820x547.jpg" alt="" class="wp-image-411467" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234712281-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234712281-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234712281-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234712281-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234712281-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234712281-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>TOPSHOT &#8211; President elect Hakainde Hichilema gives a press briefing at his residence in Lusaka, on August 16, 2021. &#8211; Zambian business tycoon and veteran opposition leader Hakainde Hichilema scored a landslide victory on August 16, 2021 in bitterly-contested presidential elections. (Photo by Patrick Meinhardt / AFP) (Photo by PATRICK MEINHARDT/AFP via Getty Images)</figcaption></figure>



JOHANNESBURG, Oct 20 (Reuters) &#8211; Zambia&#8217;s total public debt to foreign and local lenders was just shy of $27 billion at the end of June, the Finance Ministry revealed on Wednesday.



The figure was equal to about 115% of GDP, according to the latest World Bank figures from 2019, and could be more because Zambia&#8217;s economy contracted sharply last year.



The figures published by the ministry on its website include $16.86 billion in foreign holdings, of which $520 million is interest arrears. Zambia became Africa&#8217;s first COVID-19 pandemic-era sovereign default at the end of last year.



The remaining $10.1 billion was local currency debt, the figures showed.



<h3 class="wp-block-heading" id="h-read-more-zambia-imf-make-progress-towards-bail-out-loan-programme">Read more: <a href="https://www.cnbcafrica.com/2021/zambia-imf-make-progress-towards-bail-out-loan-programme/">Zambia, IMF make progress towards bail-out loan programme</a></h3>



<a href="https://www.cnbcafrica.com/2021/zambian-opposition-leader-hichilema-wins-2021-presidential-election/">President Hakainde Hichilema won a landslide election victory in August</a>, beating incumbent Edgar Lungu, in part on a promise to clean up corruption and untangle its myriad debt woes.



His Cabinet has since sought to bring debts accumulated under the former administration to light, so that the southern African country can get IMF emergency relief.



&#8220;In line with its commitment for greater transparency, the Ministry of National Planning and Finance of Zambia has published a detailed summary of debt figures as of end-June 2021,&#8221; a statement from the ministry said.



Zambia&#8217;s foreign debt is spread across diverse regions, with a <a href="https://www.cnbcafrica.com/2021/zambia-says-it-owed-more-than-6-bln-to-chinese-creditors-in-june/">$6 billion chunk owed to China</a> and rest owed to various banks, nations and multilateral institutions. 



(Reporting by Tim Cocks; editing by Jonathan Oatis and Sandra Maler)

TOPSHOT-ZAMBIA-ELECTIONS

Zambia owes nearly $27 bln in foreign and local public debt

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-820x547.jpg" alt="" class="wp-image-412371" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Uhuru Kenyatta, Kenya&#8217;s president, speaks during the independence celebrations on Jamhuri Day at Kasarani stadium in Nairobi, Kenya, on Tuesday, Dec. 12, 2017. Kenyas main opposition alliance postponed indefinitely plans to swear-in its leader as president of a so-called Peoples Assembly, after the government warned such a step would amount to treason. Photographer: Luis Tato/Bloomberg via Getty Images</figcaption></figure>



NAIROBI, Oct 20 (Reuters) &#8211; Kenya lifted a nationwide curfew on Wednesday that has been in place since March 2020 to curb the spread of the coronavirus, President Uhuru Kenyatta announced.



The East African nation, which has a population of 54 million, has recorded 252,199 infections since the pandemic erupted and 5,233 COVID-19 deaths, health ministry data shows.



It has received 7.5 million doses of vaccines so far and 4.5 million people have had at least one dose, the data shows.



Kenyatta said infection rates had fallen, with less than 5% of tests each day proving positive.



&#8220;It is now time to shift our focus from survival to co-existing with the disease,&#8221; he said in a televised address to mark a national holiday.



<h2 class="wp-block-heading" id="h-read-more-kenya-extends-covid-19-curfew-by-60-days">Read more: <a href="https://www.cnbcafrica.com/2021/kenya-extends-covid-19-curfew-by-60-days/">Kenya extends COVID-19 curfew by 60 days</a></h2>



He said congregations attending churches and other religious institutions could rise to two thirds of capacity, up from a third previously, although everyone should still adhere to other rules, such as wearing facemasks.



&#8220;We are not yet out of the woods and we must therefore continue to observe the containment measures &#8230; to sustain the gains we are making and guarantee the full re-opening of our economy,&#8221; he said.



He told officials to ensure a fill-and-finish plant for COVID-19 vaccines started operating in Kenya by April next year.



He also unveiled measures to boost the economy, including the procurement of fertiliser for farmers by the government.



(Reporting by Duncan Miriri; Editing by Giles Elgood and Edmund Blair)

Kenyan President Uhuru Kenyatta Attends Jamhuri Day Celebrations

Kenya lifts COVID-19 curfew as infection rates ease, president says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/HPQKD343MFNFFNFS7LNV7DVG2E-820x547.jpg" alt="" class="wp-image-412897" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/HPQKD343MFNFFNFS7LNV7DVG2E-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/HPQKD343MFNFFNFS7LNV7DVG2E-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/HPQKD343MFNFFNFS7LNV7DVG2E-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/HPQKD343MFNFFNFS7LNV7DVG2E-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/HPQKD343MFNFFNFS7LNV7DVG2E.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>A Credit Suisse sign is seen on the exterior of their Americas headquarters in the Manhattan borough of New York City, September 1, 2015. REUTERS/Mike Segar/File Photo</figcaption></figure>



WASHINGTON/ZURICH, Oct 19 (Reuters) &#8211; Credit Suisse Group AG will pay about $475 million to American and British authorities to resolve bribery and fraud charges relating to a $2 billion Mozambican corruption scandal, while its subsidiary pleaded guilty to a conspiracy charge in New York, U.S. and UK agencies said on Tuesday.



The settlement with the U.S. Securities and Exchange Commission (SEC), the Justice Department and Britain&#8217;s Financial Conduct Authority (FCA) is the latest blow for the <a href="https://www.reuters.com/article/us-mozambique-credit-suisse-banking-idUSKBN2762KS">scandal-plagued Swiss bank</a> and was announced just minutes before Switzerland&#8217;s financial regulator reprimanded it for a long-running corporate espionage saga.



The U.S. and British charges stem from nearly $1 billion in bond offerings and a syndicated loan Credit Suisse helped to arrange between 2013 to 2016 to finance a tuna fishing industry project in Mozambique. Much of the proceeds were diverted via kickbacks to Credit Suisse bankers and Mozambique officials.



The three former Credit Suisse bankers, along with two middlemen and three Mozambican government officials, were charged in 2018 for money laundering and defrauding U.S. investors who had invested in the loans. U.S. prosecutors said at least $200 million of the loans had been diverted to the eight defendants. The former bankers pleaded guilty in 2019.



Through the actions of its bankers, Credit Suisse fraudulently misled investors and violated U.S. bribery laws, the authorities alleged on Tuesday.



The bank will pay a $175 million criminal fine to the Justice Department, $99 million to the SEC, and $200 million to the British authorities, and will also forgive $200 million of debt owed by Mozambique. As a result, the bank said it expects to take $230 million in charges in the third quarter 2021.



Credit Suisse&#8217;s European subsidiary also pleaded guilty in a U.S. federal court to one criminal count of conspiracy to commit wire fraud, while the group has entered a three-year deferred prosecution agreement with the Justice Department.



That will require the bank to continue cooperating with any ongoing investigation and to improve its compliance systems.



Credit Suisse&#8217;s European subsidiary has also agreed with the Swiss regulator to appoint an independent third-party to monitor its transactions and risk controls.



&#8220;Credit Suisse is satisfied with the completion of the proceedings by U.S., UK and Swiss regulatory authorities into the bank&#8217;s arrangement of loan financing for Mozambique state enterprises,&#8221; the bank said in a statement.



<h2 class="wp-block-heading" id="h-snooping-scandal">SNOOPING SCANDAL</h2>



<a href="https://www.reuters.com/business/finance/credit-suisse-scandals-prompt-switzerland-think-unthinkable-punish-bankers-2021-05-28">The Swiss bank is already reeling from a string of scandals</a> including heavy losses from the collapse of U.S. family office Archegos, client-losses stemming from the collapse of supply chain finance company Greensill, and allegations that it snooped on its former top wealth management executive Iqbal Khan.



Chairman Antonio Horta-Osorio, who joined the bank in April from Britain&#8217;s Lloyds, has said the scandals are the gravest he has seen.



The Swiss Financial Market Supervisory Authority, FINMA, said on Tuesday that the bank was found to have had &#8220;serious organizational shortcomings&#8221; surrounding the corporate espionage that ultimately triggered the departure of Chief Executive Tidjane Thiam.



FINMA said it had reprimanded two individuals and opened enforcement proceedings against three additional individuals, without naming them.



Referring to the spying matter, Credit Suisse said it had &#8220;taken decisive steps to strengthen its relevant governance and processes.&#8221;



Tuesday&#8217;s resolution is the latest development in the multi-year <a href="https://www.reuters.com/article/us-mozambique-credit-suisse-banking-idUSKBN2762KS">Mozambique saga for Credit Suisse</a>, with private litigation ongoing. The African nation is suing Credit Suisse and shipbuilder Privinvest in London&#8217;s High Court over the missing money.



The corruption scandal prompted donors including the International Monetary Fund cut off support to Mozambique, triggering a currency collapse and debt default.



It has also embroiled other major lenders.



A London-based subsidiary of Russian bank VTB, which worked with Credit Suisse to arrange one of the bonds in 2016, also agreed on Tuesday to pay $6 million to settle SEC charges it misled investors.



&#8220;VTB takes today&#8217;s settlement seriously and fully cooperated with the SEC investigation,&#8221; the bank said.



(Reporting by Chris Prentice in Washington, Kanishka Singh in Bengaluru and John Revill in Zurich; additional reporting by Michael Shields and Rachel Armstrong; writing by Michelle Price; Editing by Jonathan Oatis, Will Dunham and Richard Pullin)

HPQKD343MFNFFNFS7LNV7DVG2E

Credit Suisse to pay $475 mln to resolve Mozambican scandal charges

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/GettyImages-1304054499-820x547.jpg" alt="" class="wp-image-403287" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/GettyImages-1304054499-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/GettyImages-1304054499-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/GettyImages-1304054499-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/GettyImages-1304054499-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/GettyImages-1304054499-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>WASHINGTON, DC &#8211; FEBRUARY 25: Katherine Tai , nominee for US Trade Representative speaks at the Senate Finance Committee hearing at the US Capitol on February 25, 2021 in Washington, DC. Katherine Tai is President Joe Bidens pick for US Trade Representative. (Photo by Tasos Katopodis/Getty Images)</figcaption></figure>



GENEVA, Oct 14 (Reuters) &#8211; Katherine Tai, U.S. global trade representative, said Washington would &#8220;soon&#8221; decide on Ethiopia&#8217;s status under the African Growth and Opportunity Act (AGOA), an agreement which gives it duty-free access to the United States.



&#8220;Reports coming back to us through official channels and civil society are not encouraging. What is happening in Ethiopia is a humanitarian crisis,&#8221; said Tai, referring to fighting in northern Ethiopia and deepening famine in the region of Tigray.



Ethiopia exported about $237 million worth of goods duty-free to the United States under AGOA in 2020, according to U.S. commerce department data.



In August, her office issued a statement saying &#8220;ongoing violations of internationally recognised human rights amid the ongoing conflict and humanitarian crisis in northern Ethiopia&#8230; could affect Ethiopia&#8217;s future African Growth and Opportunity Act (AGOA) eligibility if unaddressed.&#8221;



Any suspension would deal a major blow to Ethiopia&#8217;s economy, which is already under immense pressure from the coronavirus pandemic, the 11-month-old conflict and inflation of nearly 35%.



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Billene Seyoum, the prime minister&#8217;s spokeswoman, sent a text message to Reuters saying: “No one is more committed than the Government of Ethiopia to the cause of addressing the ongoing humanitarian crisis in Tigray, Amhara and Afar regions with urgency.&#8221;



&#8220;Humanitarian crises don’t end by taking away jobs from low income women that AGOA enabled; rather the problem deepens. We must not go there.&#8221;



She previously said the suspension would take away 1 million jobs from the nation of 109 million people.



AGOA gives sub-Saharan African nations duty-free access to the United States if they meet certain eligibility requirements, such as eliminating barriers to U.S. trade and investment and making progress towards political pluralism. 



(Additional reporting by Katharine Houreld; writing by Katharine Houreld; Editing by Hugh Lawson and Giles Elgood)

Senate Finance Committee Examines Nomination Of Katherine Tai For US Trade Representative

U.S. trade chief: Ethiopia’s duty-free market status to be decided ‘soon’

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="601" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/5887933760_b82505a45f_o-820x601.jpg" alt="" class="wp-image-412747" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/5887933760_b82505a45f_o-820x601.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/5887933760_b82505a45f_o-300x220.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/5887933760_b82505a45f_o-123x90.jpg 123w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/5887933760_b82505a45f_o-768x563.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/5887933760_b82505a45f_o-1536x1125.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/5887933760_b82505a45f_o-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>OECD Conference Centre Entrance OECD Conference Centre main entrance. Paris, France.  Source: OECD/Michael Dean</figcaption></figure>



NAIROBI, Oct 13 (Reuters) &#8211; Kenya refrained from signing a global tax deal because of concerns it would have to stop levying a digital services tax and worries about the agreement&#8217;s dispute resolution mechanism, officials said on Wednesday.



Last week, 136 countries agreed to a global deal that ensures big companies pay a minimum tax rate of 15% and makes it harder for them to avoid taxation.



The agreement also requires countries to repeal their digital service taxes.



Only four countries &#8211; Kenya, Nigeria, Pakistan, and Sri Lanka &#8211; did not endorse the deal.



The &#8220;numbers need some interrogation. You need to know exactly what you are getting for you to forego what you already have&#8221;, Terra Saidimu, a commissioner at the Kenya Revenue Authority, told a virtual conference.



In January, Kenya implemented a 1.5% digital service tax, which officials say has already helped curbed tax avoidance by some multinational companies.



<h3 class="wp-block-heading" id="h-read-more-world-court-sides-mostly-with-somalia-in-border-dispute-with-kenya">Read more: <a href="https://www.cnbcafrica.com/2021/world-court-sides-mostly-with-somalia-in-border-dispute-with-kenya/">World Court sides mostly with Somalia in border dispute with Kenya</a></h3>



Saidimu said 89 companies now pay such taxes. The new agreement, however, covers multinationals with global sales above 20 billion euros and profitability above 10%.



Saidimu said only 11 such companies operate in Kenya.



In Nigeria, only six global companies would fall under the new agreement, Matthew Gbonjubola, a Group Lead in Nigeria&#8217;s Federal Inland Revenue Service, told the conference.



The OECD, which steered the global negotiations, said the minimum rate would see countries collect around $150 billion in new revenues annually while taxing rights on more than $125 billion of profit would be shifted to countries where big multinationals earn their income.



&#8220;There are tens of millions of dollars at stake for Kenya and other African countries,&#8221; said Ben Dickson, Head of the Global Relations and Development Division at the OECD Centre for Tax Policy and Administration.



The agreement&#8217;s mandatory and binding dispute resolution was also a major sticking point for Kenya and Nigeria, Saidimu and Gbonjubola said. 



(Reporting by Ayenat Mersie; Editing by George Obulutsa and Giles Elgood)

OECD Conference Centre Entrance, New 50th Logo/Banner

Kenya spurns global tax deal, saying numbers need ‘interrogation’

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="481" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-1219327286-820x481.jpg" alt="" class="wp-image-411978" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-1219327286-820x481.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-1219327286-300x176.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-1219327286-153x90.jpg 153w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-1219327286-768x451.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-1219327286-1536x901.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-1219327286-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>NAIROBI, KENYA &#8211; 2020/06/11: Kenyas National Treasury and Planning Cabinet Secretary, Ukur Yatani with the budget briefcase before leaving to Parliament for budget reading 2020/2021.
The budget worth Kenya Shillings 3.2 Trillion seeks to jump start an economy ravaged by the Covid-19 pandemic. (Photo by Billy Mutai/SOPA Images/LightRocket via Getty Images)</figcaption></figure>



NAIROBI, Oct 13 (Reuters) &#8211; Kenya expects its fiscal deficit to narrow in the 2022/23 (July-June) fiscal year, its finance minister said on Wednesday, reaffirming a forecast of 6% economic growth in 2021.



The East African nation, whose economy is still reeling from the effects of COVID-19, is bringing its budget-making timetable forward because of a general election due next August. The budget will be presented in March instead of the usual date in June.



Ukur Yatani said the fiscal deficit was expected to fall to 5.7% of gross domestic product in its 2022/23 (July-June) budget versus 7.4% in 2021/22.



&#8220;We remain committed to fiscal consolidation path so as to stabilise growth in public debt,&#8221; Yatani said at the start of public hearings on the budget.



In August, the ministry had projected a 5.6% deficit in 2022/23.



<h3 class="wp-block-heading" id="h-read-more-kenya-central-bank-governor-sees-higher-gdp-growth-in-2021">Read more: <a href="https://www.cnbcafrica.com/2021/kenya-central-bank-governor-sees-higher-gdp-growth-in-2021/">Kenya central bank governor sees higher GDP growth in 2021</a></h3>



Kenya&#8217;s economy contracted 0.3% in 2020, the first such shrinkage in three decades.



It has started recovering, but the pace could be slowed by a shortage of COVID-19 vaccines and new waves of infections, driven by the highly infectious Delta variant, and drought in various parts of the country.



&#8220;Leading indicators for the economy so far point to a robust economic recovery following the reopening of the service sectors and stronger global demand,&#8221; Yatani said.



&#8220;So it is going to be a major leap from (negative) 0.3 to 6% and that is clear that all sectors of the economy will actually take on that trajectory of growth.&#8221;



A Finance Ministry budget review and outlook paper seen by Reuters on Wednesday said that, to fill the budget gap, the ministry forecast net domestic financing of 408.1 billion shillings ($3.7 billion), or 3.0% of GDP, and net external financing of 367.8 billion shillings, or 2.7% of GDP.



Overall spending and net lending will stand at 3.23 trillion shillings in 2022/23 from 3.0 trillion shillings in the fiscal year to the end of June 2022, the document said. 



($1 = 110.6800 Kenyan shillings) 



(Reporting by George Obulutsa, Editing by William Maclean)

Kenyas National Treasury and Planning Cabinet Secretary,

Kenya sees narrower fiscal deficit 2022/23, upbeat on GDP growth

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-820x547.jpg" alt="" class="wp-image-412371" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/09/GettyImages-890982518-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Uhuru Kenyatta, Kenya&#8217;s president, speaks during the independence celebrations on Jamhuri Day at Kasarani stadium in Nairobi, Kenya, on Tuesday, Dec. 12, 2017. Kenyas main opposition alliance postponed indefinitely plans to swear-in its leader as president of a so-called Peoples Assembly, after the government warned such a step would amount to treason. Photographer: Luis Tato/Bloomberg via Getty Images</figcaption></figure>



WASHINGTON, Oct 12 (Reuters) &#8211; President Joe Biden will host Kenyan President Uhuru Kenyatta for a meeting in Washington on Thursday as the White House weighs sanctions against parties to the conflict in a northern region of the neighboring East African country of Ethiopia.



The meeting at the White House will mark Biden&#8217;s first as president with an African leader.



White House spokesperson Jen Psaki said in a statement that the two would discuss &#8220;efforts to defend democracy and human rights, advance peace and security, accelerate economic growth, and tackle climate change.&#8221;



Kenya holds the rotating presidency of the U.N. Security Council this month. The United States and Kenya have long cooperated on economic and security initiatives including counterterrorism.



The Biden administration is considering punitive action regarding the worsening crisis in northern Ethiopia, where thousands have been killed and millions are in need of humanitarian assistance.



Ethiopia&#8217;s national army launched a ground offensive against forces from the region of Tigray on Monday, the region&#8217;s ruling Tigray People&#8217;s Liberation Front (TPLF) said.



<h3 class="wp-block-heading" id="h-read-more-covid-19-pushes-kenya-s-economy-into-first-contraction-in-nearly-30-years">Read more: <a href="https://www.cnbcafrica.com/2021/covid-19-pushes-kenyas-economy-into-first-contraction-in-nearly-30-years/">COVID-19 pushes Kenya’s economy into first contraction in nearly 30 years</a></h3>



Fighting broke out in November 2020 between Ethiopia&#8217;s federal troops and forces loyal to the TPLF.



The conflict has made about 5.2 million people in Tigray &#8211; more than 90% of the population &#8211; and 1.7 million people in other regions dependent on food aid. The United Nations blames a government blockade for the deteriorating humanitarian situation. The government denies it is blocking aid.



Last month, Biden signed an executive order paving the way for possible sanctions, including against the Ethiopian government and the TPLF, if they play a role in prolonging the conflict, obstructing humanitarian access or committing serious human rights abuse.



The White House also said Biden and Kenyatta would discuss &#8220;the need to bring transparency and accountability to domestic and international financial systems.&#8221;



Kenyatta&#8217;s name appeared earlier this month in the &#8220;Pandora Papers&#8221; leak of what major news outlets called a secret trove of documents detailing what they said were efforts by many global leaders to stockpile money in tax havens.



Kenyatta has not responded to the allegations but has said he would do so later. 



(Reporting by Trevor Hunnicutt and Tyler Clifford; Editing by Chris Reese and Peter Cooney)

Biden, Kenya President Kenyatta to hold White House meeting

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-497673894-820x547.jpg" alt="" class="wp-image-412689" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-497673894-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-497673894-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-497673894-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-497673894-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-497673894-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-497673894-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>People gather around an MTN outlet in Kisoro district, about 480 km west of the capital Kampala, on November 18, 2015. MTN Uganda has appealed a court award of Shs 2.3 billion (around 662,000 dollars or 620,700 euro) to electronic money provider EzeeMoney for sabotaging its business. AFP PHOTO / ISAAC KASAMANI (Photo credit should read ISAAC KASAMANI/AFP via Getty Images)</figcaption></figure>



KAMPALA, Oct 11 (Reuters) &#8211; MTN Uganda said on Monday it had set the price of its initial public offering for the sale of a 20% stake at 200 Ugandan shillings ($0.0558) per share, as the East African nation&#8217;s biggest telecoms operator launched the country&#8217;s biggest IPO.



&#8220;The MTN IPO is officially open,&#8221; MTN Uganda Chief Executive Wim Vanhelleputte told a news conference in Kampala, saying the IPO would close on Nov. 22. Shares start trading on Dec. 6.



MTN Uganda is offering 4.5 billion shares, Vanhelleputte said, after the unit of South Africa&#8217;s MTN Group secured regulatory approval last week.



This would value the stake at 895.56 billion shillings ($250 million) and MTN Uganda at $1.25 billion, the company said.



Anne Juuko, chief executive of Stanbic Bank Uganda, which owns the sponsoring brokerage SBG Securities Uganda Ltd, said Ugandans would have first priority, followed by investors in East Africa and then investors from outside the region.



<h3 class="wp-block-heading" id="h-read-more-mtn-picks-partners-to-expand-mobile-openran-network-in-africa">Read more: <a href="https://www.cnbcafrica.com/2021/mtn-picks-partners-to-expand-mobile-openran-network-in-africa-2/">MTN picks partners to expand mobile OpenRAN network in Africa</a></h3>



The telecoms firm, which has 15 million subscribers, also offers mobile money financial services, which Vanhelleputte said was the firm&#8217;s biggest growth area as more people sought cashless transactions amid the COVID-19 pandemic.



The company&#8217;s main rival is a unit of India&#8217;s Bharti Airtel . It could build more subscribers after a smaller rival, Africell, said it was quitting the market.



MTN Uganda, which started operations in 1998, secured a 12-year renewal of its licence in June 2020 after paying $100 million and on condition it listed at least 20% of its shares on the local market, which now has 17 stocks.



MTN Uganda reported revenues in 2020 of 1.9 trillion Uganda shillings, up 9.3% from the previous year, and a pre-tax profit of 460.3 billion Ugandan shillings last year, up 21.3%.



&#8220;MTN Uganda will target in the medium term a dividend pay-out ratio of at least 60% of annual profits after tax,&#8221; the company said in its prospectus.



MTN Uganda said it would announce the allocation result on Dec. 3.



($1 = 3,585.0000 Ugandan shillings) 



(Reporting by Elias Biryabarema; Writing by Maggie Fick; Editing by George Obulutsa and Edmund Blair)

UGANDA-TELECOMMUNICATION-FINE-BUSINESS

MTN Uganda announces share price for biggest Ugandan IPO

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="508" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TSNCC4ZZ7NLT3NNX7CAHGREFXI-820x508.jpg" alt="" class="wp-image-412676" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TSNCC4ZZ7NLT3NNX7CAHGREFXI-820x508.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TSNCC4ZZ7NLT3NNX7CAHGREFXI-300x186.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TSNCC4ZZ7NLT3NNX7CAHGREFXI-145x90.jpg 145w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TSNCC4ZZ7NLT3NNX7CAHGREFXI-768x476.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/TSNCC4ZZ7NLT3NNX7CAHGREFXI.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Malagasy children eat a meal at the Avotse feeding program that benefits malnourished children with hot meals in Maropia Nord village in the region of Anosy, southern Madagascar September 30, 2021. REUTERS/Joel Kouam</figcaption></figure>



AMBOASARY SUD, Madagascar, Oct 11 (Reuters) &#8211; Some days, all Tsimamorekm Aly eats is sugary water. He&#8217;s happy if there&#8217;s a handful of rice. But with six young kids and a wife to support, he often goes without.



This is the fourth year that drought has devastated Aly&#8217;s home in southern Madagascar. Now more than one million people, or two out of five residents, of his Grand Sud region require emergency food aid in what the United Nations is calling a &#8220;climate change famine.&#8221;



&#8220;In previous years there was rain, a lot of rain. I grew sweet potatoes and I had a lot of money&#8230; I even got married because I was rich,&#8221; said Aly, 44.



&#8220;Things have changed,&#8221; he said, standing on an expanse of ochre dirt where the only green to be seen is tall, spiky cacti.



Climate change is battering the Indian Ocean island and several U.N. agencies have warned in the past few months of a &#8220;climate change famine&#8221; here.



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&#8220;The situation in the south of the country is really worrying,&#8221; said Alice Rahmoun, a spokeswoman with the United Nations&#8217; World Food Programme in Madagascar. &#8220;I visited several districts&#8230; and heard from families how the changing climate has driven them to hunger.&#8221;



Rainfall patterns in Madagascar are growing more erratic – they&#8217;ve been below average for nearly six years, said researchers at the University of California at Santa Barbara.



&#8220;In some villages, the last proper rain was three years ago, in others, eight years ago or even 10 years ago,&#8221; said Rahmoun. &#8220;Fields are bare, seeds do not sprout and there is no food.&#8221;



Temperatures in southern Africa are rising at double the global rate, the Intergovernmental Panel on Climate Change says. Cyclones, already more frequent in Madagascar than any other African country, are likely getting stronger as the earth warms, the U.S. government says.



Conflict has been a central cause of famine and hunger in countries such as Ethiopia, South Sudan, Somalia and Yemen, when fighting stopped people moving to find food. But Madagascar is at peace.



&#8220;Climate change strongly impacts and strongly accentuates the famine in Madagascar,&#8221; President Andry Rajoelina said while visiting the worst-affected areas earlier this month. &#8220;Madagascar is a victim of climate change.&#8221;



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2021/insight-south-african-farmers-dream-of-drought-cover-on-climate-front-line/">South African farmers dream of drought cover on climate front line</a></h3>



The country produces less than 0.01% of global carbon dioxide emissions, the World Carbon Project says.



Half a million children are expected to be acutely malnourished in southern Madagascar, 110,000 severely so, the U.N. Children&#8217;s Fund says, causing developmental delays, disease and death.



Nutriset, a French company that produces emergency food Plumpy&#8217;Nut, opened a plant in southern Madagascar last week. It aims to annually produce 600 tonnes of therapeutic fortified food made of peanuts, sugar and milk for malnourished children.



The Malagasy government is also giving parcels of land to some families fleeing the worst-hit areas. Two hundred families received land with chickens and goats, which are more drought-resilient than cows. They were also encouraged to plant cassava, which is more drought-resilient than maize.



&#8220;It&#8217;s a natural disaster,&#8221; said Aly. &#8220;May God help us.&#8221; 



(Additional reporting and writing by Ayenat Mersie; Editing by Katharine Houreld and Susan Fenton)

TSNCC4ZZ7NLT3NNX7CAHGREFXI

Madagascar prays for rain as U.N. warns of ‘climate change famine’

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234616916-820x547.jpg" alt="" class="wp-image-411398" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234616916-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234616916-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234616916-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234616916-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234616916-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/08/GettyImages-1234616916-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>Zambian presidential candidate for the opposition party United Party for National Development (UPND) Hakainde Hichilema gives a press conference at his residence, in Lusaka on August 11, 2021. &#8211; The UPND, the main rival to the ruling Patriotic Front (PF), is eager to tap into mounting disillusionment in the city&#8217;s poorest neighbourhoods, where dissent has grown since the last 2016 poll. (Photo by Patrick Meinhardt / AFP) (Photo by PATRICK MEINHARDT/AFP via Getty Images)</figcaption></figure>



LUSAKA, Oct 7 (Reuters) &#8211; Zambia&#8217;s government and state-owned companies owed more than $6 billion to Chinese creditors at the end of June, new debt figures published by the government on Thursday showed.



The copper-rich southern African country has been under pressure to publish updated debt numbers since a study released last month by the China Africa Research Initiative (CARI) said Zambia&#8217;s debt to Chinese lenders was $6.6 billion, around double the amount disclosed by the previous administration.



At the time of the CARI report the new government elected in August responded by saying its debt numbers were &#8220;broadly consistent&#8221; with the research group&#8217;s estimate.



In November last year Zambia became the first country on the African continent to default on its sovereign debt during the COVID-19 pandemic. It is in talks with the International Monetary Fund to try to secure a lending programme as a precursor to a debt restructuring.



According to a breakdown by the finance ministry on Thursday, Zambia&#8217;s central government owed $4.47 billion to Chinese creditors at the end of June, state companies owed $1.34 billion via facilities guaranteed by the government and state power utility Zesco owed a further $0.14 billion not guaranteed by the government.



An additional $225.5 million of interest arrears means total public sector exposure to Chinese creditors was $6.18 billion at the end of the second quarter, the ministry said in a statement.



<h3 class="wp-block-heading" id="h-read-more-zambia-imf-make-progress-towards-bail-out-loan-programme">Read more: <a href="https://www.cnbcafrica.com/2021/zambia-imf-make-progress-towards-bail-out-loan-programme/">Zambia, IMF make progress towards bail-out loan programme</a></h3>



Earlier on Thursday, Vice President Mutale Nalumango said in parliament that Zambia owed Chinese creditors $5.75 billion, but the finance ministry statement made clear that figure was only debt arranged by Chinese institutions.



Some Chinese entities had participated in facilities arranged by other creditors, the ministry clarified.



The $6.18 billion total exposure to Chinese creditors represents more than 40% of Zambia&#8217;s total publicly guaranteed and non-guaranteed external debt, which the government put at $14.67 billion at the end of June.



Nalumango said Zambia would restructure its debt in a transparent fashion, without favouritism. As well as Chinese entities, Zambia&#8217;s external creditors include Eurobond holders, who are owed $3 billion, as well as multilateral lending agencies and foreign governments.



The vice president said the debt stock would be periodically audited and that one such audit was under way.



Asked whether the previous government had understated the debt, Finance Minister Situmbeko Musokotwane said loans amounting to $4.4 billion had been signed but not yet disbursed.



He said President Hakainde Hichilema&#8217;s administration was in discussions to try to cancel some of the undisbursed loans, without specifying with whom they were contracted. 



(Additional reporting and writing by Alexander Winning in Johannesburg; Editing by Alex Richardson, Steve Orlofsky and David Gregorio)

ZAMBIA-POLITICS-ELECTIONS-UPND

Zambia says it owed more than $6 bln to Chinese creditors in June

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/JAN6QJD2ZNPMLANNBVFBV5OSA4-820x547.jpg" alt="" class="wp-image-412612" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/JAN6QJD2ZNPMLANNBVFBV5OSA4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/JAN6QJD2ZNPMLANNBVFBV5OSA4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/JAN6QJD2ZNPMLANNBVFBV5OSA4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/JAN6QJD2ZNPMLANNBVFBV5OSA4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/JAN6QJD2ZNPMLANNBVFBV5OSA4.jpg 960w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>United Nations Secretary-General Antonio Guterres speaks during a meeting of the United Nations Security Council at the 76th Session of the U.N. General Assembly in New York, U.S. September 23, 2021. John Minchillo/Pool via REUTERS/File Photo</figcaption></figure>



UNITED NATIONS, Oct 6 (Reuters) &#8211; U.N. Secretary-General Antonio Guterres hit back at Ethiopia on Wednesday over the government&#8217;s expulsion of seven U.N. staff, demanding proof of accusations against them raised by Ethiopia&#8217;s U.N. ambassador during a Security Council meeting.



&#8220;It is my duty to defend the honor of the United Nations,&#8221; Guterres told reporters after the rare public exchange with Ethiopia&#8217;s U.N. ambassador, Taye Atske Selassie Amde, at the end of the council meeting on the situation in the country.



<a href="https://www.cnbcafrica.com/2021/u-n-security-council-to-discuss-ethiopia-expulsion-of-u-n-staff/">The Ethiopian government last week expelled seven senior U.N. officials for meddling in internal affairs.</a> Selassie expanded on that on Wednesday, accusing the U.N. staff of making up data, falsely claiming hunger was used as a weapon of war and that people had died from hunger, and of supporting government foe &#8211; the Tigrayan People&#8217;s Liberation Front (TPLF).



&#8220;To use their own words, they were looking to create a Darfur-like situation,&#8221; said Selassie. &#8220;They, suddenly and overnight, created one million victims of health disaster.&#8221;



Guterres responded in the council, saying he had not seen any information from Ethiopia about these claims. He said he told Ethiopian Prime Minister Abiy Ahmed twice that if there were any concerns about the impartiality of U.N. staff then Abiy should share the information so Guterres could investigate.



&#8220;Twice, I asked&#8230; the prime minister. Until now, I had no response to these requests,&#8221; Guterres said. &#8220;The people of Ethiopia are suffering. We have no other interest but to help stop that suffering.&#8221;



U.S. Ambassador to the U.N. Linda Thomas-Greenfield described the Ethiopian move to expel the U.N. officials as &#8220;reckless,&#8221; adding: &#8220;There&#8217;s no justification for the government of Ethiopia&#8217;s action, none at all.&#8221;



&#8220;The U.N. is impartial. The U.N. is neutral,&#8221; she told the 15-member council. &#8220;U.N. personnel barred from Ethiopia must be allowed to return immediately.&#8221;



<h2 class="wp-block-heading" id="h-children-are-starving">&#8216;CHILDREN ARE STARVING&#8217;</h2>



War broke out 11 months ago between Ethiopia&#8217;s federal troops and forces loyal to the TPLF, which controls Tigray. Thousands have died, millions have fled their homes and the conflict has spilled into neighboring Amhara and Afar.



Guterres said up to 7 million people in Tigray, Amhara and Afar need help, including 5 million in Tigray where some 400,000 people are estimated to be living in famine-like conditions.



&#8220;Our colleagues on the ground are sharing increasingly alarming eye-witness testimony of the suffering &#8211; including growing accounts of hunger-related deaths,&#8221; Guterres said earlier in the council meeting.



&#8220;In locations where screening has been possible, we are seeing acute malnutrition rates that remind us of the onset of the 2011 Somalia famine,&#8221; he said.



<h3 class="wp-block-heading"> Read more: <a href="https://www.cnbcafrica.com/2021/u-n-urges-ethiopia-egypt-and-sudan-to-recommit-to-dam-talks/">U.N. urges Ethiopia, Egypt and Sudan to recommit to dam talks</a></h3>



He called on the government to allow the urgent delivery of aid &#8220;without hindrance&#8221; and the &#8220;unrestricted movement of desperately needed fuel, cash, communications equipment and humanitarian supplies&#8221; into Tigray, Amhara and Afar.



&#8220;Ethiopian children are starving. People are dying because they cannot access food, water and basic health care. This is not a situation caused by natural disaster. It is caused by those who continue to choose the path of war,&#8221; Ireland&#8217;s U.N. Ambassador Geraldine Byrne Nason told the council.



Guterres urged the Security Council to back U.N. aid efforts. However, any strong action by the body &#8211; such as sanctions &#8211; is unlikely as Russia and China have made clear they believe the Tigray conflict is an internal affair for Ethiopia.



China&#8217;s U.N. Ambassador Zhang Jun on Wednesday called for &#8220;quiet diplomacy in order to prevent a deadlock&#8221; over the expulsion of the U.N. officials.



(Reporting by Michelle Nichols; Editing by Leslie Adler, Alistair Bell and Richard Pullin)

JAN6QJD2ZNPMLANNBVFBV5OSA4

U.N. chief takes on Ethiopia over expelled staff: show me proof

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="548" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-1344794982-820x548.jpg" alt="" class="wp-image-412514" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-1344794982-820x548.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-1344794982-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-1344794982-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-1344794982-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-1344794982-1536x1027.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/10/GettyImages-1344794982-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption>ADDIS ABABA, ETHIOPIA &#8211; OCTOBER 04: Prime Minister Abiy Ahmed attends an inaugural celebration after Amhed was sworn in for a second five year term as Prime Minister of Ethiopia on October 04, 2021 in Addis Ababa, Ethiopia. Mr Abiy&#8217;s Prosperity Party was able to claim a majority after June&#8217;s initial round of voting, although the country&#8217;s election board postponed the vote in several dozen constituencies citing security and logistical concerns. Polls for dozens of those seats were held at the end of September, but there is no timeline for voting in several dozen remaining constituencies. (Photo by Jemal Countess/Getty Images)</figcaption></figure>



ADDIS ABABA, Oct 4 (Reuters) &#8211; Ethiopian Prime Minister Abiy Ahmed was sworn in for a new five-year term on Monday, telling a crowd of thousands he would protect the country from foreign interference, amid global criticism over the war in the northern region of Tigray.



His party scored a landslide victory in June&#8217;s election, cementing his power domestically despite international concern over his government&#8217;s handling of the conflict.



After parliament confirmed his appointment, between 30,000 and 40,000 people attended a public ceremony &#8211; unusual in Ethiopia &#8211; in the capital Addis Ababa.



Abiy spoke from a dais covered in yellow carpet in the newly refurbished Meskel Square, where brand new lights and stadium-style benches sit next to a crumbling museum dedicated to the murder and torture victims of a previous regime.



<h3 class="wp-block-heading" id="h-read-more-kenyan-president-urges-ethiopia-to-open-up-mobile-money-market"> Read more: <a href="https://www.cnbcafrica.com/2021/kenyan-president-urges-ethiopia-to-open-up-mobile-money-market/">Kenyan president urges Ethiopia to open up mobile money market</a></h3>



In his speech, Abiy denounced the leadership in the northern region of Tigray, where rebellious forces are battling the central government and where the United Nations says hundreds of thousands of people are experiencing famine due to a government blockade of aid. The government denies it is preventing aid deliveries.



Abiy&#8217;s speech offered little hint as to whether he would pursue an offensive to claw back territory taken by Tigrayan forces. &#8220;In order to narrow our differences we will have a national dialogue,&#8221; he said, while also promising &#8220;a capable security and intelligence force will be built&#8221;.



Abiy also repeated warnings that Ethiopia would not accept foreign interference in its internal affairs.



Conflict broke out in Tigray 11 months ago between federal troops and forces loyal to the Tigrayan People&#8217;s Liberation Front (TPLF), the political party that controls Tigray. Thousands have died and more than 2 million people have been forced to flee their homes.



On Thursday, Ethiopia announced it was expelling seven senior U.N. officials, accusing them of diverting aid and communication equipment to the TPLF, failing to demand the return of aid trucks deployed to Tigray, violating security arrangements and spreading misinformation.



<h3 class="wp-block-heading">Read more: <a href="https://www.cnbcafrica.com/2021/u-n-security-council-to-discuss-ethiopia-expulsion-of-u-n-staff/">U.N. Security Council to discuss Ethiopia expulsion of U.N. staff</a></h3>



The United Nations said on Monday that it stands by the neutrality and professionalism of its staff and again reiterated that it does not accept Ethiopia&#8217;s declaration that the officials are personae non gratae.



However, U.N. spokesman Farhan Haq said the U.N. officials had &#8220;been moved from the country to ensure their safety.&#8221;



The United States has condemned the expulsions and threatened unilateral sanctions against those who obstructed humanitarian efforts.



&#8220;It is critical that these individuals be allowed to return to Ethiopia in order to carry out their important life-saving work and duties,&#8221; State Department spokesman Ned Price said of the U.N. officials on Monday.



Abiy was appointed prime minister by the then-governing coalition in 2018 and promised political and economic reforms.



Within months of taking office, he lifted a ban on opposition parties, released tens of thousands of political prisoners and took steps to open up one of Africa&#8217;s last untapped markets. But rights groups say those freedoms are now being rolled back. 



(Reporting by Dawit Endeshaw, additional reporting by Michelle Nichols in New York and Daphne Psaledakis in Washington; Writing by Giulia Paravicini; Editing by Katharine Houreld, Alex Richardson, Mark Heinrich and Sonya Hepinstall)

East Africa

Diplomats work to avert attack on Ethiopian capital

Tanzania GDP to expand 5.2% in 2022 from estimated 5% in 2021

IMF chief Georgieva says ‘very optimistic’ about reaching loan deal with Zambia

Ethiopia declares state of emergency as Tigrayan forces gain ground

Climate change to displace tens of millions of East Africans by 2050 -World Bank

Zambia owes nearly $27 bln in foreign and local public debt

Kenya lifts COVID-19 curfew as infection rates ease, president says

Credit Suisse to pay $475 mln to resolve Mozambican scandal charges

U.S. trade chief: Ethiopia’s duty-free market status to be decided ‘soon’

Kenya spurns global tax deal, saying numbers need ‘interrogation’

Kenya sees narrower fiscal deficit 2022/23, upbeat on GDP growth

Biden, Kenya President Kenyatta to hold White House meeting

MTN Uganda announces share price for biggest Ugandan IPO

Madagascar prays for rain as U.N. warns of ‘climate change famine’

Zambia says it owed more than $6 bln to Chinese creditors in June

U.N. chief takes on Ethiopia over expelled staff: show me proof

Sworn in for new term, Ethiopia leader promises to fend off foreign pressure

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East Africa

Diplomats work to avert attack on Ethiopian capital

Tanzania GDP to expand 5.2% in 2022 from estimated 5% in 2021

IMF chief Georgieva says ‘very optimistic’ about reaching loan deal with Zambia

Ethiopia declares state of emergency as Tigrayan forces gain ground

Climate change to displace tens of millions of East Africans by 2050 -World Bank

Zambia owes nearly $27 bln in foreign and local public debt

Kenya lifts COVID-19 curfew as infection rates ease, president says

Credit Suisse to pay $475 mln to resolve Mozambican scandal charges

U.S. trade chief: Ethiopia’s duty-free market status to be decided ‘soon’

Kenya spurns global tax deal, saying numbers need ‘interrogation’

Kenya sees narrower fiscal deficit 2022/23, upbeat on GDP growth

Biden, Kenya President Kenyatta to hold White House meeting

MTN Uganda announces share price for biggest Ugandan IPO

Madagascar prays for rain as U.N. warns of ‘climate change famine’

Zambia says it owed more than $6 bln to Chinese creditors in June

U.N. chief takes on Ethiopia over expelled staff: show me proof

Sworn in for new term, Ethiopia leader promises to fend off foreign pressure

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