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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-820x547.jpg" alt="" class="wp-image-548965" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/M7TCAQPVXRPFFGPEYDQ3ZMQKT4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">People wait to cast their votes in the 2024 general elections in Morwa village near Gaborone, Botswana October 30, 2024. REUTERS/Thalefang Charles</figcaption></figure>



GABORONE, Nov 1 (Reuters) &#8211; Botswana&#8217;s voters delivered a shock defeat to the party that has ruled them for nearly six decades, registering their anger over economic stagnation linked to a decline in the diamond trade by handing victory to opposition presidential candidate Duma Boko.



The 54-year-old, of the Umbrella for Democratic Change (UDC) coalition, will replace President Mokgweetsi Masisi, who on Friday conceded defeat after his Botswana Democratic Party (BDP) lost by a landslide for the first time in 58 years.



&#8220;From tomorrow&#8230; I will start the process of handover,&#8221; Masisi said in an audio clip of his phone call to Boko, which the outgoing leader posted on social media, signalling a smooth power transition.



&#8220;You can count on me to always be there to provide whatever guidance you might want &#8230; We will retreat to being a loyal opposition.&#8221;



Boko has yet to speak publicly on the outcome. Chief Justice Terence Rannowane officially declared him the victor: &#8220;I have the honour and privilege to declare him as elected president of Botswana. I congratulate you profoundly for the confidence that the people have shown in you.&#8221;



Analysts blamed mounting economic grievances, particularly among young people, for the downfall of the BDP, which has governed the southern African state of around 2.5 million people since independence from Britain in 1966.



Like many African countries, Botswana&#8217;s economy has largely depended on the export of a single commodity &#8211; in its case, diamonds.



Unlike many, its leaders have largely resisted the urge to steal or squander their commodity windfall, instead spending it on health, education and social welfare. Botswana&#8217;s GDP per capita was $7,250 in 2023 &#8211; compared with an average for sub-Saharan Africa of $4,800, World Bank data shows.



But a downturn in the global diamond market caused economic growth to plummet this year to a projected 1%, while unemployment rose to 28%.



Botswana is the world&#8217;s top producer by value of diamonds, and the government owns a 15% stake in diamond giant De Beers, a unit of Anglo American Masisi last year negotiated a bigger share of its raw diamonds with the company.



Boko has not indicated that he would want to change the deal.



<h2 class="wp-block-heading" id="h-nothing-to-offer">&#8216;NOTHING TO OFFER&#8217;</h2>



State television showed that based on results from 55 of 61 constituencies, the UDC had won 32 seats in parliament, one more than it needed for a majority. The largest party chooses the president. The BDP was in last place out of four parties, with only four seats.



&#8220;After 58 years in power (the BDP) didn&#8217;t have anything new to offer,&#8221; said analyst Ringisai Chikohomero of the Pretoria-based Institute for Security Studies.



The UDC, by contrast, put forward ambitious policy proposals, he said. It pledged to more than double the minimum wage, improve social services and create a more independent judiciary, among other measures.



The capital Gaborone was calm on Friday morning, with small groups of opposition supporters celebrating in the streets.



&#8220;I did not ever think I would witness this change in my life,&#8221; 23-year-old student Mpho Mogorosi said. &#8220;The BDP had stayed too long &#8230;&nbsp;and I am proud to be part of the people that removed them.&#8221;



The BDP was the second long-ruling party in southern Africa to lose its majority at the polls this year, after South Africa&#8217;s African National Congress failed to&nbsp;win&nbsp;more than half&nbsp;of&nbsp;votes for the first time in 30 years.



Neighbouring Namibia will hold elections later this month in which the ruling SWAPO party, which has governed since 1990, is also expected to face a stiff challenge.



&#8220;The outcome of Botswana&#8217;s elections should serve as a warning to long-time ruling parties across southern Africa and beyond that without economic progress and employment opportunities, political dominance will falter,&#8221; said Zaynab Hoosen, an Africa analyst at consultancy Pangea-Risk.



(Reporting by Brian Benza; Additional reporting and writing by Nellie Peyton; Editing by Alexander Winning, Tim Cocks and Ros Russell)

Botswana elections

Botswana voters kick out ruling party of nearly six decades

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/SLHJX2P6XROTBKALLWANWZ4S4M-820x547.jpg" alt="" class="wp-image-549104" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/SLHJX2P6XROTBKALLWANWZ4S4M-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/SLHJX2P6XROTBKALLWANWZ4S4M-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/SLHJX2P6XROTBKALLWANWZ4S4M-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/SLHJX2P6XROTBKALLWANWZ4S4M-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/SLHJX2P6XROTBKALLWANWZ4S4M-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/SLHJX2P6XROTBKALLWANWZ4S4M-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Food supplies are pictured before a food aid distribution by volunteers of the Lagos food bank initiative in a community in Oworoshoki, Lagos, Nigeria July 10, 2021. REUTERS/Temilade Adelaja</figcaption></figure>



LAGOS, Nov 1 (Reuters)&nbsp;&#8211;&nbsp;Nigeria faces one of its worst hunger crises with more than 30 million people expected to be food insecure next year, a one third jump from this year due to economic hardship, a joint report by the government and United Nations said on Friday.



Nigeria, Africa&#8217;s most populous nation, is grappling with a cost of living crisis that led to deadly protests in August.



Economic hardship has worsened after President Bola Tinubu started austerity reforms, including devaluing the naira and ending a decades-old petrol subsidy, fuelling inflation.



The analysis, conducted twice a year in 26 states and the federal capital, projected that 33.1 million people would be food insecure by August next year. That compares with 24.8 million by end of this year.



&#8220;Several factors are driving this trend, but most prominently are economic hardship coupled with record high inflation, a record rise in food prices and record high transportation costs,&#8221; a statement accompanying the report said.



Chi Lael, World Food Programme spokesperson in Nigeria told Reuters that &#8220;economic decisions to strengthen the country in the long term, in the short term have felt like a direct attack on people&#8217;s wallets, hitting hardest every time they try to buy food.&#8221;



Finance Minister Wale Edun said on Thursday 5 million households had so far received cash handouts of 25,000 naira ($15.45), as part of the government&#8217;s programme to help the most vulnerable families.



High food prices have contributed the most to inflation, which advanced to 32.70% in annual terms in September from 32.15% in August.



Flooding and insecurity in northern states continued to hit agriculture, further driving up food prices beyond the reach of many families.



Last month&#8217;s floods destroyed an estimated 1.6 million hectares of crops, mainly in the northern food basket states, potentially causing production losses of a combined 1.1 million tonnes for maize, sorghum and rice, the joint statement said.



That is enough to meet the daily food needs of about 13 million people for a year.



In financial terms, the potential cereal crop losses amount to almost $1 billion in economic losses, the statement added.



($1 = 1,618.2600 naira)



(Reporting by MacDonald Dzirutwe; Editing by Ros Russell)

Food supplies are pictured before a food aid distribution by volunteers of the Lagos food bank initiative in a community in Oworoshoki, Lagos, Nigeria

Nigeria’s hunger crisis deepens with 33 million at risk, report 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/2024/07/GettyImages-1604532392-820x547.jpg" alt="" class="wp-image-510212" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker at a foreign exchange currency bureau counts 1000 Ugandan shilling banknotes in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda&#8217;s central bank said it stands ready to act if the World Bank&#8217;s decision to halt new funding over the country&#8217;s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images</figcaption></figure>



KAMPALA, Nov 1 (Reuters) &#8211; The Ugandan shilling was broadly stable on Friday and appeared on a strong footing, with subdued hard currency appetite across the board, traders said.



At 0955 GMT commercial banks quoted the shilling at 3,656/3,666, compared to Thursday&#8217;s close of 3,658/3,668.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="472" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/T2GG5DOWQBNVBM4YVJ2KDX65FE-820x472.jpg" alt="" class="wp-image-549004" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/T2GG5DOWQBNVBM4YVJ2KDX65FE-820x472.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/T2GG5DOWQBNVBM4YVJ2KDX65FE-300x173.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/T2GG5DOWQBNVBM4YVJ2KDX65FE-156x90.jpg 156w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/T2GG5DOWQBNVBM4YVJ2KDX65FE-768x442.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/T2GG5DOWQBNVBM4YVJ2KDX65FE-1536x884.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/T2GG5DOWQBNVBM4YVJ2KDX65FE-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Kenya&#8217;s Interior Minister Kithure Kindiki speaks during a press conference in Kilifi county, Kenya March 27, 2024. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Nov 1 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s new deputy president Kithure Kindiki was sworn in on Friday after a court lifted orders barring his inauguration following weeks of legal challenges by his predecessor, who was impeached by parliament last month.



The Senate voted to remove Deputy President Rigathi Gachagua from office in October on a handful of charges including gross violation of the constitution and stirring ethnic hatred &#8211; accusations that he rejects and has dismissed as politically motivated.



Kenya&#8217;s High Court had put a hold on Kindiki&#8217;s inauguration after Gachagua and his supporters filed over 30 court challenges to prevent his dismissal and replacement.



But the stay order was lifted on Thursday, with judges saying that the deputy president position should not remain vacant according to the constitution.



Gachagua&#8217;s legal battles extended months of political turbulence in the country, East Africa&#8217;s largest economy, that began with nationwide protests against unpopular tax hikes in June.



President William Ruto invited opposition members into his cabinet to create what he called a unity government in July in an attempt to ease tensions after demonstrators stormed parliament.



The political realignment also sidelined Gachagua, who had been a valuable asset for Ruto during his election campaign, helping secure a large block of votes from the populous Mount Kenya region. The two men have since fallen out.



Kindiki was a top contender to be Ruto&#8217;s running mate during the 2022 election and was appointed interior minister shortly after the president took office in September that year.



Ruto appointed Foreign Minister Musalia Mudavadi as interior minister late on Thursday.



(Reporting by Hereward Holland; Editing by Ammu Kannampilly, Sonali Paul and Angus MacSwan)

FILE PHOTO: Kenyan authorities to begin handing over bodies of cult massacre victims in Kilifi

Kenya’s new deputy president sworn in after challenge from predecessor

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="545" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/FN6SHZMGJVMXJICANZS4G326BA-1-820x545.jpg" alt="" class="wp-image-549042" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/FN6SHZMGJVMXJICANZS4G326BA-1-820x545.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/FN6SHZMGJVMXJICANZS4G326BA-1-300x199.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/FN6SHZMGJVMXJICANZS4G326BA-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/FN6SHZMGJVMXJICANZS4G326BA-1-768x511.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/FN6SHZMGJVMXJICANZS4G326BA-1-1536x1021.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/FN6SHZMGJVMXJICANZS4G326BA-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A general view shows the Tetra Pak factory floor in Durban, South Africa, April 4, 2024. REUTERS/Rogan Ward/File Photo</figcaption></figure>



JOHANNESBURG, Nov 1 (Reuters)&nbsp;&#8211;&nbsp;South African manufacturing activity grew in October for the second month in a row, a local purchasing managers&#8217; index (PMI) survey showed, the first time since early 2023 that the highly volatile sector has recorded two consecutive months of growth.



The seasonally-adjusted PMI sponsored by South African bank Absa fell to 52.6 points in October from a revised 53.3 in September, staying above the 50-point mark that separates expansion from contraction.



The business activity and new sales orders sub-indices delivered another strong performance, and Absa said there were further positive signs on the horizon.



&#8220;Local demand is expected to pick up pace as some benefits from the interest rate cut (by the central bank in September) come through with a lag,&#8221; Absa said in a statement.



&#8220;Other windfalls, in the form of lower inflation and a boost from withdrawals following the introduction of the two-pot retirement system, could further lift consumer spending,&#8221; Absa added.



The &#8220;two-pot&#8221; pension reform, which from Sept. 1 allowed people to make partial withdrawals from their pension funds before retirement, is expected to spur retail sales and economic growth in the final quarters of the year.



(Reporting by Tannur Anders; Editing by Alexander Winning)

A general view of the Tetra Pak factory floor in Durban

South African factory sector expands for second month, Absa PMI shows

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg" alt="" class="wp-image-524623" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-2-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Nov 1 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



South Africa&#8217;s weekly inflation-linked bonds auction



South Africa&#8217;s October vehicle sales



South Africa&#8217;s October manufacturing PMI



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



South Africa&#8217;s rand was broadly steady on Thursday following the release of local producer inflation and trade balance data, a day after the finance minister delivered the mid-term budget.



On the stock market, the Top-40 index closed about 1.7% lower.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian markets started what could be a momentous month warily, with shares mostly lower and Treasury yields near three-month highs on Friday, while investors wait for U.S. jobs data, although a rate cut next week is largely baked in.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



All three U.S. stock indexes closed lower on Thursday after Microsoft and Meta Platforms highlighted growing artificial intelligence costs that could hit their earnings, curbing enthusiasm for megacaps that have fuelled the market rally this year.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold prices ticked up on Friday and headed for a slight weekly gain, while investors braced for the U.S. payrolls data that could provide further clues about the Federal Reserve&#8217;s interest rate outlook.



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Eskom says SA has enough power for the next five years



&#8211; SA sets the pace in Africa’s energy transition



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



&#8211; Standard Bank forced to block Brazilian transactions after fraud attacks



(Compiled by Tannur Anders)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Nov 1

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="546" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-2178136315-820x546.jpg" alt="" class="wp-image-548948" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-2178136315-820x546.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-2178136315-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-2178136315-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-2178136315-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-2178136315-1536x1023.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/GettyImages-2178136315-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">CALLINGTON, ENGLAND &#8211; OCTOBER 17: Prince William, Prince of Wales, the Duke of Cornwall, arrives at the College Stoke Climsland for a visit and to learn about how the college is providing opportunities for young people in rural areas, on October 17, 2024 in Callington, Cornwall, England. (Photo by Justin Tallis &#8211; WPA Pool/Getty Images)</figcaption></figure>



LONDON, Nov 1 (Reuters)&nbsp;&#8211;&nbsp;Prince William jets to South Africa next week for the start of a four day trip which will take in the annual awards ceremony for the British heir-to-the throne&#8217;s multi-million dollar environmental prize.



William travels to Cape Town on Monday for a series of events to promote his Earthshot Prize, while he will also attend the United for Wildlife Global Summit and have a meeting with South African President Cyril Ramaphosa during his stay.



&#8220;His royal highness is looking forward to spending time with people from South Africa and across the wider continent, as well as celebrating the incredible climate solutions that will be spotlighted,&#8221; Kensington Palace said in a statement.



The trip will be the Prince Of Wales&#8217; first to South Africa since 2010, and he will be making the visit alone as his wife Kate is still managing a return to work after finishing a course of preventative chemotherapy for cancer.



William, who like his father King Charles has become a keen environmental campaigner, set up the Earthshot Prize in 2020, inspired by his last visit to Africa six years ago.



A nod to former U.S. President John F. Kennedy&#8217;s &#8220;moonshot&#8221; project which led to the 1969 lunar landing, its goal is to find innovations to combat climate and other green issues, and awards five winners 1 million pounds ($1.3 million) each to drive their projects.



The ceremony itself will be held on Nov. 6, hosted by U.S. actor Billy Porter and South African TV presenter Bonang Matheba, and will also feature performances by the likes of Nigerian pop star Davido and Tanzanian singer Diamond Platnumz.



Supermodel Heidi Klum and actress Nina Dobrev will be among the celebrities announcing the winners.



&#8220;I can’t wait to be part of an evening that celebrates creativity, human ingenuity, and artistry in all its different forms,&#8221; Porter said.



($1 = 0.7709 pounds)



(Reporting by Michael Holden; Editing by Kate Holton and Alison Williams)

The Duke of Cornwall To Visit Duchy College

Prince William heads to South Africa for green prize ceremony

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="516" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/D4444TONOVL5XOCAT6N7A747YM-820x516.jpg" alt="" class="wp-image-548729" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/D4444TONOVL5XOCAT6N7A747YM-820x516.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/D4444TONOVL5XOCAT6N7A747YM-300x189.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/D4444TONOVL5XOCAT6N7A747YM-143x90.jpg 143w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/D4444TONOVL5XOCAT6N7A747YM-768x483.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/D4444TONOVL5XOCAT6N7A747YM-1536x967.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/D4444TONOVL5XOCAT6N7A747YM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Kenya&#8217;s Cabinet Secretary of the Ministry of Interior and National Administration Kithure Kindiki speaks during a joint press conference, with British Minister of State for Security Tom Tugendhat during his visit, in Nairobi, Kenya May 10, 2023. REUTERS/Monicah Mwangi/File Photo</figcaption></figure>



NAIROBI, Oct 31 (Reuters)&nbsp;&#8211;&nbsp;Kenya&#8217;s high court on Thursday lifted orders barring the swearing-in of newly appointed deputy president Kithure Kindiki,&nbsp;whose&nbsp;predecessor&nbsp;has launched&nbsp;legal challenges over his removal from office by impeachment.



&#8220;The office of the deputy president should not remain vacant,&#8221; Judge Anthony Mrima said,&nbsp;after&nbsp;the filing of&nbsp;over&nbsp;30 court cases by Rigathi Gachagua against his ouster.&nbsp;The decision could be appealed to the Supreme Court.



Earlier this month the Senate voted to uphold five out of 11 charges against Gachagua, including gross violation of the constitution and stirring ethnic hatred &#8211; accusations that he has denied and dismissed as politically motivated.



President William Ruto subsequently chose Interior Minister Kithure Kindiki as his new deputy, but a court blocked his appointment.



Gachagua&#8217;s legal challenges extend months of political turmoil in Kenya, East Africa&#8217;s largest economy, that began with nationwide protests against unpopular tax hikes in June.



His impeachment followed a rift with Ruto that has soured their relationship since they ran together in an election two years ago.



(Reporting by Humphrey Malalo and Sonia Rao; writing by Elias Biryabarema; editing by Ammu Kannampilly, Alex Richardson and Mark Heinrich)

D4444TONOVL5XOCAT6N7A747YM

Kenya’s high court lifts order barring swearing-in of new deputy president

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/108055459-1730370522435-gettyimages-2181307807-arroyofernandez-collecti241027_npBx9-820x461.jpeg" alt="" class="wp-image-548676" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/108055459-1730370522435-gettyimages-2181307807-arroyofernandez-collecti241027_npBx9-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/108055459-1730370522435-gettyimages-2181307807-arroyofernandez-collecti241027_npBx9-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/108055459-1730370522435-gettyimages-2181307807-arroyofernandez-collecti241027_npBx9-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/108055459-1730370522435-gettyimages-2181307807-arroyofernandez-collecti241027_npBx9-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/108055459-1730370522435-gettyimages-2181307807-arroyofernandez-collecti241027_npBx9-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/108055459-1730370522435-gettyimages-2181307807-arroyofernandez-collecti241027_npBx9.jpeg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Line-up of pumpkins in the Netherlands, on Oct. 27, 2024. Nurphoto | Nurphoto | Getty Images</figcaption></figure>



Inflation in the 20-nation euro zone rose to 2% in October, preliminary figures released by statistics agency Eurostat showed Thursday.



Economists polled by Reuters had forecast a headline figure of 1.9%. The September headline reading was revised down to 1.7% from 1.8% on Oct. 17, below market expectations.



The biggest upward pull in the headline rate came from food, alcohol and tobacco, where price rises accelerated to 2.9% from 2.4%.



Core inflation, which excludes those volatile components along with energy prices, was unchanged at 2.7%, slightly higher than the 2.6% expected. Services inflation — an important gauge of domestic price pressures — also held steady at 3.9%.



The euro was up 0.17% against the U.S. dollar shortly after the release, trading at a two-week high of $1.0873.



The fresh Thursday inflation print is seen as crucial in judging whether the European Central Bank could consider implementing a jumbo half-percentage-point cut in interest rates at its next meeting in December.



The central bank has so far trimmed rates three times this year, making quarter-point increments that altogether took the central bank’s key rate from 4% to 3.25%.



Markets are currently pricing another 25-basis-point reduction in December.



<h2 class="wp-block-heading" id="h-euro-zone-growth"><a></a>Euro zone growth</h2>



Traders are also considering the latest growth figures for the euro area, which showed better-than-expected 0.4% expansion in the third quarter, even as analysts predicted further weakness ahead.



The ECB said during its October meeting that the process of disinflation was “well on track” and that sluggishness in the euro zone’s economic activity had added to its confidence that inflation will not resurge dramatically.



“Hotter eurozone inflation, stronger growth and record low unemployment wipe out bets for a 50 [basis point] cut,” Kyle Chapman, foreign exchange market analyst at Ballinger Group, said in a note.



Chapman said that, while an uptick in consumer price growth was expected toward the end of the year, services inflation remained sticky.



“A big concern underpinning the risks of inflation undershooting the target was a potential tipping point with the labor market, the surprising resilience of which could be at risk of a sharp unwind in labor hoarding if consumption worsens. That concern is no longer so significant,” Chapman stressed, pointing to this week’s growth and employment figures.



“Back-to-back 25 [basis point] moves are the way to go. The need for below-neutral rates to rescue a contracting eurozone economy is fading from the discussion, and that negates the need to hurry the easing cycle, particularly with services inflation struggling to come unstuck.”

108055459-1730370522435-gettyimages-2181307807-arroyofernandez-collecti241027_npBx9

Euro zone inflation rises to higher-than-expected 2%, weakening case for jumbo rate cut

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GettyImages-1189483048-820x547.jpg" alt="" class="wp-image-548644" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GettyImages-1189483048-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GettyImages-1189483048-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GettyImages-1189483048-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GettyImages-1189483048-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GettyImages-1189483048-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/10/GettyImages-1189483048-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">African children using a laptop inside classroom</figcaption></figure>



Africa faces a shortage of nearly 15 million teachers to meet universal primary and secondary education goals by 2030, according to a report published by <a href="https://unesdoc.unesco.org/ark:/48223/pf0000387001">UNESCO</a>.



To tackle this shortage, there is a need to shift from the exclusive use of traditional teaching methods to the implementation and use of education technology (EdTech). According to UNICEF, about 108 million young people across the continent are out of school. These staggering numbers point to the work that must be done to chart the path to meaningful education for Africa’s young population.



One of governments&#8217; main roles is to create enabling environments for various sectors and industries to thrive. One indicator of an enabling environment is the formation of policies that inform decision-making. To make suitable investments in education, policies relevant to 21st-century learning need to be formulated. EdTech-specific policies would guide investment in technology-enabled education.



The October 2024 edition of Mastercard Foundation EdTech Mondays Africa brought together education ministers from Ghana and Sierra Leone, experts from the Mastercard Foundation, and education specialists Inspiring Teachers Ghana to assess the role of policy in advancing education technology.



The <a href="https://www.worldbank.org/en/topic/education/brief/edtech-readiness-index">World Bank&#8217;s Education and Technology Readiness Index (ETRI)</a> emphasizes that well-structured policies and practices are essential for effectively integrating technology in education.



Some countries are way ahead of others in driving policy development and implementation. Rwanda, for example, has drafted its EdTech Policy, which is awaiting official&nbsp;approval. Ethiopia’s ICT in Education Strategy and Policy has been&nbsp;approved, while Ghana is in the early stages of a roadmap to develop its EdTech&nbsp;strategy and policy.



In Ghana, the education system is undergoing a significant transformation and is being retooled for the “Fourth Industrial Revolution.” Through education reforms, young learners in Ghana who terminated their education at lower levels now have an opportunity to further their education.



“With the Fourth Industrial Revolution, everything is changing. Jobs we thought were good and reliable will no longer exist in the next few years. For Ghana to remain competitive in the global economy, the government decided that education—from kindergarten all the way through high school and university—had to be looked at through a different prism altogether,” said Dr. Yaw Osei Adutwum, Ghana’s Minister for Education. “[This is] a process that began by looking at the purpose of education through the development of STEM high schools for girls to ensure their numbers went up.”



This has resulted in Ghana coming close to attaining gender parity in secondary education.



Adutwum added that while Ghana has mineral resources, including gold, which can transform the economy, developing policies that spur human capital is more important if the country is to remain competitive in the global economy.&nbsp;



Sound education technology policies can also help education ecosystems remain resilient in the wake of diverse shocks that cause wide disruptions.



Sierra Leone, for example, has experienced multiple shocks and disruptions. Its 11-year civil war (1991-2002) greatly impacted the number of teachers working in the education system, followed a decade later by the Ebola outbreak in 2014, which forced schools to shut down for almost a year. And just six years after that, in 2020, COVID-19 disrupted the education system in the country once again. &nbsp;



“As a result of all that, the government took a deliberate action to introduce education technology as a tool not only to leapfrog our way to the 21st century but also to recover from learning losses. This is why technology sits right at the center of our educational system,” said Conrad Sackey, Minister for Basic and Senior Secondary Education in Sierra Leone.



While many African governments recognize the importance of developing effective education policies, panelists at the EdTech Mondays event said that the focus of these policies must be on the continent&#8217;s diverse challenges and how technology investments can address them.



A key priority when drafting any policy is listening to stakeholders. In this case, this group should include the EdTech community, users, teachers, and, most importantly, parents. This way, policies can achieve more than just putting devices and internet access in the hands of teachers and learners.



“We must look at the skills gaps and how to bridge them, especially for the educators. We don&#8217;t have to wait for everyone to be at par [across Africa] because we have seen very innovative, locally developed EdTech solutions that are bridging some of these gaps in access,” noted Suraj Shah, Head of Strategic Partnerships and Thought Leadership at the Mastercard Foundation Centre for Innovative Teaching and Learning.



Once the skills gaps are addressed, Shah says Africa needs policies to change the way classrooms are run. He recommends rethinking the current “one-way information system” in which the teacher stands in front of a classroom, speaks, and learners take notes. Instead, he advises that education systems of the 21st century should allow for integration of tutor-student interaction and practical project assignments backed by technology.



“By introducing EdTech in schools, we make the education system resilient so that if physical learning in the classroom is disrupted, there will be a way for learners to continue learning,” he said.



What, then, are some of the key indicators of an effective EdTech policy?



According to Regina Mensah from Inspiring Teachers Ghana, an effective policy should achieve the following:



<ul class="wp-block-list">
<li>Increase accessibility to education technology for all communities, especially those facing the most significant barriers to success.</li>



<li>Narrow the gender gap by having an equal number of boys and girls with access to education technology.</li>



<li>Measure the upward trajectory of learning outcomes. For example, a country&#8217;s number of exam seating candidates and their performance should have increased by a certain percentage in their basic education examination each year.</li>
</ul>



Mensah adds the continent’s challenge lies not in the lack of such policies but in the implementation of the ones already formulated. “Policies are there, but they are crafted to be implemented. It is at the implementation stage that you get the effect of the kind of policy that has been formulated,” she says.



Collaboration, it was agreed, is critical to continent-wide success in transforming the education system, since lack of infrastructure, accessibility, funding, and personnel constraints are shared challenges. If African countries could establish a way to exchange insights into education policy formulation and share success stories with one another, they could leapfrog the development phase and move directly into implementing policies that support education technology.

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The race to sustainability: Inside F1’s biggest challenge yet

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Botswana voters kick out ruling party of nearly six decades

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How Elon Musk might become the world’s first trillionaire

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Euro zone inflation rises to higher-than-expected 2%, weakening case for jumbo rate cut

The Role of Policy in Advancing EdTech in Africa

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