US commits to more aid to Ukraine before Trump’s term

US commits to more aid to Ukraine before Trump’s term

The United States has announced a new $725 million military aid package for Ukraine to help in its fight against Russia. The shipment of landmines and ammunition is the latest from the Biden administration as it works to provide extra assistance to the war-torn nation before President-elect Donald Trump takes office. Benji Hyer reports.

December 4, 2024 22

Africa

Nigeria’s Financial Crimes Commission Seizes Largest Ever Asset Cache

Nigeria's Economic and Financial Crimes Commission has announced its largest-ever seizure of assets, confiscating a housing estate of over 750 properties in Abuja. BBC Africa has it that the properties are suspected to have been purchased with funds from corruption, though the EFCC did not disclose the former government official behind the assets. Established in 2003, the EFCC aims to combat widespread corruption in the country.

December 4, 2024 6

Africa

Biden Expresses Pride In Visit to Angola

US President Joseph Biden expressed pride in being the first American president to visit Angola as he began talks with President João Lourenço. And according to BBC Africa, the discussions at the presidential palace in Luanda focused on security and trade, with the US government backing a new 1,300km railway project linking an Angolan port to mining regions in the Democratic Republic of Congo and Zambia.

December 4, 2024 5

Nam Elections 2024

Swapo Secures Majority as Nandi-Ndaitwah Wins Presidency

The Electoral Commission officially declared the results of the this year's Presidential and National Assembly elections, with Swapo clinching 51 out of 96 seats. In the presidential race, Swapo’s Netumbo Nandi-Ndaitwah emerged victorious with 57.31%, while IPC's Dr. Panduleni Itula received 25.50%. Future Media News' Angie Scholtz sat down for an exclusive interview with President Nangolo Mbumba: Notable Swapo ministers losing their seats include Peya Mushelenga, Tom Alweendo, Itah Kandjii-Murangi, […]

December 4, 2024 33

Business / Economics

Cirrus Capital’s Groenewald Offers Insight on Central Bank’s Interest Rate Decision

The Bank of Namibia In October lowered its main interest rate, citing a faster-than-anticipated decline in inflation and the need for economic support. At that point in time, the Monetary Policy Committee unanimously agreed to reduce the repo rate by 25 basis points, bringing it to 7.25%. Cirrus Capital economist Tannan Groenewald shares his outlook on what the Bank might do next. ENG Tannan Groenewald repo

December 4, 2024 14

Business / Economics

FNB South Africa warns that today’s fuel price hike is a blow to holidaymakers

FNB South Africa warns that today’s fuel price hike, with 95-octane and 93-octane petrol increasing by 17-cents per litre and diesel by over 50-cents, is a blow to holidaymakers. The bank attributes the rise to a weaker rand, driven by global factors like the United States elections and higher international diesel prices. FNB senior economist Koketso Mano advises citizens to revise their fuel budgets:

December 4, 2024 17

Business / Economics

Trump vows to stop Nippon takeover of U.S. steel

U.S. President-elect Donald Trump says he will block a deal for a Japanese company to acquire U.S. steel. Instead, he insists, his tax and tariff plans will make the U.S. manufacturer strong again by being American-owned. Caroline Malone reports from Washington.

December 4, 2024 20

Business / Economics

Bank of Namibia Set to Announce New Repo Rate

With the Bank of Namibia’s repo rate decision set for later today, consumers are preparing for potential changes to borrowing costs and savings. The central bank maintained the repo rate at 7.25% during its last monetary policy update. Cirrus Capital economist Robert McGregor noted that while GDP growth is positive, private sector credit extension continues to lag.

December 4, 2024 21

South Africa

Ramaphosa Highlights G20 Presidency as Platform for Africa and Global South

S.A's President Cyril Ramaphosa says South Africa’s G20 presidency is a chance to advance global economic growth, sustainable development, and the needs of Africa and the Global South. The G20 leaders' summit will be hosted in Johannesburg in November next year, further solidifying South Africa's leadership role. Ramaphosa says the presidency aims to bring African priorities to the forefront while strengthening global partnerships for a better future:

December 4, 2024 9