INSUBCONTINENT EXCLUSIVE:
Stay updated with the latest significant stories from Africa, covering political developments, economic highlights, and more.Eskom
Anticipates Loss but Maintains Power SupplySouth African state-owned power utility Eskom is projected to report an annual loss for the
fiscal year ending March, as per the Financial Times.Despite this, Eskom has managed to avoid power cuts for over 100 days, the longest
period without load shedding in three years.Load shedding, implemented in 2008 to manage electricity demand, has been a recurring
rand ($6.1 billion) since 2019.Mozambique: IMF Approves Immediate $60 Million DisbursementThe International Monetary Fund (IMF) has approved
an immediate disbursement of $60 million to Mozambique under its assistance program.This decision follows the completion of a regular
consultation with the African nation, enabling the funds to be used for budget support.Nigeria Suspends Import Duties on Food CommoditiesTo
combat rising inflation, the Nigerian government announced a 150-day duty-free import period for food commodities.However, this initiative,
part of the Presidential Accelerated Stabilization and Advancement Plan, includes maize, husked brown rice, wheat, and cowpeas.Nigeria aims
to import 250,000 metric tons each of wheat and maize to stabilize prices and support the population.Morocco Advocates for UN Supervision in
released detailed results from the fifth General Population and Housing Census (RGPH-5).In addition, the census reveals a resident
population of 18,126,390 as of 2023, with a nearly equal gender distribution.The population has grown annually by 2.9% from 2013 to 2023,
and the country anticipates doubling its population in the next 25 years.Notably, 75% of the population is under 35 years old, with half
under 19 years old.Ethiopia Earns Over $1.4 Billion from Coffee ExportsThe Ethiopian Coffee and Tea Authority (ECTA) reported a 7.5%
coffee in June 2024 alone, surpassing its monthly target by 108% and generating $218 million.Annual exports amounted to 298,500 metric tons,
natural resources position it as a potential leader in West African economic development.The country, which re-elected President Mohamed
Ould El-Ghazouani, aims to leverage its mineral wealth, particularly iron ore, to achieve sustainable economic growth.In 2022, Mauritania
produced 13 million metric tons of iron ore, the second-highest in Africa, thanks to proactive reforms and attractive mining
policies.Nigeria Sees a 70% Reduction in Corruption for LicensesThe Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reduced
standards, and socio-economic benefits, according to its Director General, Gbenga Komolafe.Kenya Imposes New Fuel Import Restrictions on
UgandaKenya has increased the bond fee for fuel consignments destined for Uganda to $45 million, up from $15 million
benchmark lending rate at 6% to boost consumer and business spending, sustaining economic recovery.This move aligns with similar cautious
monetary policies in Kenya, Uganda, and Rwanda.Tanzania Amends Sugar Laws to Stabilize Supply and PricesTanzania has revised its Sugar
Industry Act to regulate the production, importation, and distribution of sugar.The amendments grant the National Food Reserve Agency (NFRA)
exclusive rights to import, store, and distribute sugar, aiming to prevent shortages and price inflation.Angola to privatize 34% of Standard
over which type of election should be held this year: presidential or legislative?This debate resurfaced after President Umaro Sissoco
contradicts the stance of some political parties that are advocating for presidential elections to take place this year.
