13th August 2024

Good morning! Zambia's copper exports face disruption as a trade dispute with Congo escalates, Sudan's peace talks show signs of progress amid ongoing violence, Kenya's Finance Minister pushes for tax and payroll reforms to tackle the deficit, and Turkey strengthens its diplomatic role in Africa by hosting high-level talks with Somalia and Ethiopia.

Here’s your Rooster’s Crow:

Zambia-Congo Border Dispute Continues

A trade dispute between Zambia and the Democratic Republic of Congo has led to the closure of a key border crossing, severely impacting copper exports. The conflict arose after Congo banned the import of Zambian beer, soft drinks, and lime, leading to protests from Congolese truck drivers. Zambia's decision to close the border was aimed at protecting its truckers from the escalating violence. This disruption threatens the copper supply chain, as most of Congo’s copper is transported through Zambia to ports in Southern Africa. Talks between the two nations are ongoing to resolve the issue​

Sudan Peace Talks Progressing

Peace negotiations in Sudan are reportedly making headway, despite ongoing violence. U.S. Special Envoy John Godfrey indicated that talks between the Sudanese Armed Forces (SAF) and the paramilitary Rapid Support Forces (RSF) are progressing, though the situation remains precarious. The conflict, which erupted in April 2023, has displaced millions and resulted in widespread casualties. The U.S. and Saudi Arabia are mediating the discussions in Jeddah, aiming for a ceasefire and a long-term political settlement. However, humanitarian conditions continue to worsen as the conflict drags on​

Kenya’s Finance Minister Seeks Reforms

Kenya's Finance Minister, Njuguna Ndung'u, has announced plans for significant tax and payroll changes aimed at reducing the national budget deficit. The proposed measures include broadening the tax base and improving payroll efficiency. These reforms are part of the government's strategy to address mounting public debt and stimulate economic growth. The minister emphasized the importance of fiscal discipline and the need to enhance revenue collection to meet budgetary needs. The government is also considering cutting public spending to align with its financial objectives​

Turkey Hosts Somalia and Ethiopia Talks

Turkey has hosted high-level talks with Somalia and Ethiopia, focusing on regional security and cooperation. The discussions come amid growing concerns over instability in the Horn of Africa, driven by conflicts and political unrest. Turkey, which has increased its diplomatic and economic engagement in Africa, seeks to mediate between these nations to foster peace and development. The meetings also highlight Turkey's broader strategy to strengthen ties with African nations and play a more active role in resolving regional conflicts​

Coming Up…
Nigeria is set to announce its July inflation rate