What’s next for U.S.-Africa relations under the Biden administration?

Witney Schneidman, a Brookings Africa Growth Initiative nonresident fellow, assesses U.S.-Africa relations under the Biden administration, discusses how the next version of the African Growth and Opportunity Act might better support U.S.-Africa trade, and offers recommendations for enhancing U.S. trade and investment in the region. Related Content Foresight Africa podcast is part of the Brookings…

Pandemic Creates New Billionaires as Global Inequality Rises 

London —  The world’s billionaires have increased their wealth by trillions of dollars since the beginning of the coronavirus pandemic, while the world’s poorest people are struggling with soaring prices and rising debt, according to an analysis by charitable organization, Oxfam. As the global business elite gather in the Swiss mountain resort of Davos for…

Somalia's Newly Elected President Assumes Office

Mogadishu, Somalia —  Hassan Sheikh Mohamud officially took office in the Horn of Africa country after a handover ceremony in Mogadishu. A week ago, Mohamud won the presidency after an intense election, defeating Mohamed Abdullahi Mohamed, known as Farmajo, in a third round of voting. Hassan Sheikh Mohamud becomes the first ex-president in Somalia to…

German Chancellor Scholz Kicks off Africa Trip in Senegal

dakar, senegal — 
German Chancellor Olaf Scholz said his country is interested in a major gas exploitation project in Senegal as he began a three-nation visit to Africa on Sunday that also is focused on the geopolitical consequences of the war in Ukraine.
Senegal is believed to have significant deposits of natural gas along its border with Mauritania at a time when Germany and other European countries are trying to reduce their dependence on importing Russian gas.
“We have begun exchanges and we will continue our efforts at the level of experts because it is our wish to achieve progress,” Scholz said at a joint news briefing with Senegalese President Macky Sall.
The gas project off the coast of Senegal is being led by BP, and the first barrels are not expected until next year.
This week’s trip marks Scholz’s first to Africa since becoming chancellor nearly six months ago. Two of the countries he is visiting — Senegal and South Africa — have been invited to attend the Group of 7 summit in Germany at the end of June.
Participants there will try to find a common position toward Russia, which was kicked out of the then-Group of Eight following its 2014 seizure of Crimea from Ukraine.
Leaders at the G-7 summit also will be addressing the threat of climate change. Several G-7 countries, including Germany and the United States, signed a ‘just energy transition partnership’ with South Africa last year to help the country wean itself off heavily polluting coal.
A similar agreement is in the works with Senegal, where Germany has supported the construction of a solar farm.
German officials also said Scholz will make a stop in Niger, a country that like its neighbors has long been battling Islamic extremists.
Earlier this month, the German government backed a plan to move hundreds of its soldiers to Niger from neighboring Mali. The development comes amid a deepening political crisis in Mali that prompted former colonial power France to announce it was withdrawing its troops after nine years of helping Mali battle insurgents.
Germany officials say their decision also was motivated by concerns that Malian forces receiving EU training could cooperate with Russian mercenaries now operating in the country.
Germany, though, will increase its participation in a U.N. peacekeeping mission in Mali, providing up to 1,400 soldiers. The Cabinet’s decisions still need to be approved by parliament.
Niger is also a major transit hub for illegal migration to Europe. People from across West Africa connect with smugglers there to make the journey northward to attempt the dangerous trip across the Mediterranean Sea.

How currency sanctions on Russia could disrupt trade with Africa

Introduction Financial sanctions tend to hurt both the sanctioned and the sanctioner, but they also threaten to hurt countries that are financially interlinked with the sanctioned country. Recent sanctions levied on Russia by the United States and the European Union in response to Russia’s invasion of Ukraine are disrupting global trade and financial networks across…

African leaders to attend 2022 World Economic Forum in Davos – CGTN

FILE PHOTO: A man silhouettes in front of the logo of the World Economic Forum in Davos, Switzerland, Sunday, Jan. 19, 2020. (Photo/Markus Schreiber,file)

FILE PHOTO: A man silhouettes in front of the logo of the World Economic Forum in Davos, Switzerland, Sunday, Jan. 19, 2020. (Photo/Markus Schreiber,file)

African presidents are expected join the world’s political and business elite in Davos, Switzerland, for the World Economic Forum’s Annual Meeting that starts today and is expected to run until May 26.The 2022 meeting is the first in-person meeting since the start of the COVID-19 pandemic.Happening under the theme of History at a Turning Point: Government Policies and Business Strategies, the meeting will have 200 sessions attended by more than 2,500 leaders and experts.Some of the African leaders that have confirmed attendance include Malawi President Lazarus Chakwera, Zimbabwe President Emmerson Mnangagwa, Namibia President Hage Geingob and Rwanda President Paul Kagame.The Forum is expected to place focus on the ongoing conflict in Ukraine.The 2022 forum will also have panels on a host of other issues, including climate change, rising energy prices, global supply chain problems, gender inequality and poverty.