News & Events

Gabon’s military junta has assumed full control of the country’s national timber company, Société Nationale des Bois du Gabon, taking over from the Gabon Special Economic Zone, which was jointly managed by Dubai-based Arise IIP and the Gabonese government. This move gives the junta direct access to a $620 million industry in one of the world’s most forested nations.

Gabon’s timber sector, contributing approximately 3.2% to the $19.4 billion economy, has been tightly regulated, with logging controlled and timber exports banned since 2010. The decree transfers 600,000 hectares (1.5 million acres) of forest under the junta’s authority. Military leader Brice Oligui Nguema stated that this decision reflects the government’s commitment to protecting and responsibly managing natural resources as a driver of national development. The junta has also expanded its economic control, invoking preemptive rights to purchase shares in Assala Energy, and blocking a sale to Etablissements Maurel & Prom SA by the Carlyle Group.

Read the original article here: https://www.livemint.com/companies/news/gabons-junta-gets-direct-access-to-620-million-timber-industry-11735619985651.html

Ghana’s outgoing President Nana Akufo-Addo, in his final State of the Nation Address on 5 January, announced a landmark visa-free travel policy for all African passport holders, effective from the start of 2024. The initiative, aimed at enhancing trade, tourism, and cultural exchange, aligns with Ghana’s role as host of the African Continental Free Trade Area (AfCFTA) Secretariat and its broader Pan-African vision.

Akufo-Addo highlighted economic achievements during his tenure, including a rise in Ghana’s Gross International Reserves to $8 billion and projected GDP growth of 6.3% in 2024, despite challenges like the COVID-19 pandemic. As he prepares to hand over power to President-elect John Mahama, Akufo-Addo expressed pride in leaving behind a nation he described as secure, democratic, and poised for continued progress.

Read the original article here: https://www.theafricareport.com/372886/ghana-approves-visa-free-travel-for-all-african-passport-holders/

Netumbo Nandi-Ndaitwah will officially assume office as Namibia’s first female president, a historic milestone following her election last month. According to Namibia’s electoral commission, the 72-year-old secured 57% of the vote, strengthening the ruling SWAPO party’s 34-year hold on power since the country’s independence in 1990.

Nandi-Ndaitwah, who served as vice president before her election, described her victory as a mandate for “peace and stability.” However, opposition parties continue to contest the results, citing irregularities, including ballot paper shortages and prolonged delays during the voting process. Critics argue these issues undermined the credibility of the election.

Panduleni Itula, the main opposition candidate from the Independent Patriots for Change (IPC), secured 25.5% of the vote and vowed to challenge the results in court, calling the elections “unfair” and violating the rule of law.

Read the original article here: https://www.msn.com/en-in/news/India/namibia-elects-vp-nandi-ndaitwah-as-country-s-first-female-president/ar-AA1ve7Ho?ocid=BingNewsVerp