AFRICA

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In a surprising turn of events, top comedian-turned-politician Micheal Usi has been sworn in as Malawi's vice-president. The 55-year-old assumed office at a ceremony held in the capital, Lilongwe, following the tragic death of his predecessor, Saulos Chilima, in a plane crash earlier this month. Dr. Usi's acceptance speech was met with a standing ovation, where he expressed a mix of sadness and gratitude for the role. He pledged to honor Chilima's memory and thanked President Lazarus Chakwera for entrusting him with this position in the power-sharing government.

In a significant development for Kenya's financial markets, the Nairobi Securities Exchange (NSE) faces a major setback as a prominent American firm announces its exit. On June 7th, 2024, Company X, a major player in the technology sector, decided to withdraw its listing from the NSE. The company cited strategic realignment and global market dynamics as the primary reasons behind this move. While Company X's shares have been actively traded on the NSE, its exit will undoubtedly impact trading volumes and liquidity.

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Niger has revoked the operating licence of French nuclear fuel producer Orano at one of the world's biggest uranium mines, the company said Thursday, in a move that highlighted tensions between France and the African country's ruling junta.

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The African Union (AU) has issued a stern warning about the escalating conflicts and unconstitutional government changes (UCGs) that pose a threat to the democratic foundations and security of African countries. This cautionary message comes at a critical juncture when stability and good governance are essential for the continent's progress.

After committing cyber-related crimes in Zambia, 22 Chinese nationals have pleaded guilty. They are among 77 suspects who were arrested in April in connection to what authorities described as a "sophisticated internet fraud syndicate".

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Cyril Ramaphosa, the incumbent president of South Africa, is poised for re-election despite the African National Congress (ANC) suffering its worst election result since the end of apartheid. The ANC secured only 40% of the vote in the recent election, leading to a power-sharing agreement with rival parties—a historic development after 30 years of ANC rule.

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In a recent development that has sparked widespread debate, Kenya’s President William Ruto defended the use of a private jet for his official state visit to the United States, stating it was a cost-effective alternative to the national carrier, Kenya Airways. The president’s choice has been met with criticism and scrutiny, with many questioning the transparency of the costs involved.