Photo : AFP
NIAS Area Studies
AFRICA MONITOR
Photo : AFP
IN BRIEF
By Samruddi Pathak
Morocco: France has backed Morocco’s claims over Western Sahara
On 30 July, France’s President, Emmanuel Macron, wrote a letter to the King of Morocco Mohammed VI, supporting the country’s sovereignty over the Western Sahara. Morocco has been fighting the Polisario Front, an Algeria-backed group, over the territorial claims since 1975. France, a former colonial power, has been involved in stabilising the region. (“France backs Moroccan sovereignty over Western Sahara,” Reuters, 30 July 2024)
South Africa: Jacob Zuma expelled from the ANC
On 29 July, the African National Congress (ANC) expelled the former President and leader of the party, Jacob Zuma. The disciplinary committee of the ANC found Zumba guilty of “prejudicing the integrity” of the party by joining the uMkhonto we Sizwe (MK) party. Later, he took over the leadership of the MK party and headed the campaigns during the 2024 presidential elections. (“Ex-SA President Zuma expelled from ANC,” BBC, 30 July 2024)
Ethiopia: World Bank approves USD 1.5 billion credit
On 30 July, the World Bank approved a low-interest credit and a grant to Ethiopia worth USD 1.5 billion. Ethiopia has been struggling with a low-running debt economy. USD one billion will be given as a grant and later USD 500 million as a credit at a low interest. On 29 July, the country secured a USD 3.4 billion four-programme from the International Monetary Fund. The development comes after on 29 July, the Ethiopia Central Bank lifted its restrictions on foreign currency. However, Birr, Ethiopia’s currency, lost its value from 57.4 to 74.7 against one USD. The Central Bank stated that “banks are henceforth allowed to buy and sell foreign currencies from/to their clients and among themselves at freely negotiated rates” and that it would only make "limited interventions" in the FX markets. (“World Bank approves $1.5 billion in financing for Ethiopia,” Reuters, 30 July 2024)