President Cyril Ramaphosa has set 30 June 2026 as the new date for the completion of the inquiry led by retired Justice Baaitse Elizabeth (Bess) Nkabinde into the fitness of Advocate Andrew Chauke to hold the office of Director of Public Prosecutions.
President Ramaphosa established the inquiry in September 2025 in terms of section 12(6) of the National Prosecuting Authority Act of 1998.
The original date for the completion of the inquiry and submission of a final report was 30 January 2026. President Ramaphosa has extended this period to 30 June 2026 as a result of a delay in the commencement of the proceedings of the inquiry.
Justice Nkabinde is assisted by Adv Elizabeth Baloyi-Mere SC and Attorney Ms Matshego Ramagaga as additional members of the inquiry.
Media enquiries: Vincent Magwenya, Spokesperson to the President – media@presidency.gov.za
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today welcomed the assignment of ‘A’ long-term and ‘A-1’ short-term issuer credit ratings, with a Positive Outlook, by S&P Global (S&P) Ratings, following the rating agency’s official announcement.
According to S&P, the ratings reflect AFC’s strong institutional and financial risk profile, underpinned by robust liquidity buffers, disciplined risk management, and the institution’s ability to mobilise private capital for complex, cross‑border infrastructure and industrial projects across Africa. The ‘A’ category assessment represents the highest rating assigned to AFC by a major global ratings agency, reinforcing its position as one of the highest-rated investment-grade African financial institutions, strengthening its standing in global capital markets and supporting continued access to diversified, long-term funding sources.
In its published analysis, S&P emphasised AFC’s expanded scale, broadened mandate and established operating model, underscoring the institution’s leadership in delivering infrastructure and industrial assets that are central to Africa’s long‑term growth. The agency pointed in particular to AFC’s capacity to structure and execute complex transactions, and to deploy capital across priority sectors where private financing alone is often insufficient.
S&P also referenced AFC’s growing continental footprint, with the institution having disbursed US$18.5 billion across 36 African countries since inception. Investments span energy, transport and logistics, natural resources, heavy industry, telecommunications and technology, with flagship projects including the Lobito Corridor, linking Angola, Zambia and the Democratic Republic of Congo — a strategically important trade and logistics corridor supporting regional integration and supply‑chain resilience. S&P commented, “Given its mandate and emphasis on financing critical infrastructure, AFC plays a strategically important role that is not easily replicated by other development finance institutions (DFIs) or commercial lenders, in our view.”
Further AFC investments include ARISE Integrated Industrial Platforms, supporting the development of industrial zones that anchor local value addition in sectors such as agro-processing, manufacturing and logistics, and the Kamoa–Kakula copper complex in the Democratic Republic of Congo, one of the world’s highest-grade and fastest-growing copper projects. The Corporation has a history of successful asset exits, including partial exits from ARISE and from Ghana’s Takoradi Port, demonstrating AFC’s ability to originate, scale and responsibly reinvest capital. Together, these investments underline AFC’s capacity to combine long-term development impact with disciplined execution and capital stewardship.
The Positive Outlook reflects S&P’s expectation that AFC will continue to broaden its shareholder base — which currently comprises 60 shareholders, including sovereigns, financial institutions, pension funds and multilaterals — strengthen its capital position, and sustain strong liquidity and asset‑quality metrics as it delivers on its medium‑term strategy.
“This S&P Global rating is a strong validation of AFC’s financial strength, governance, and strategic role in financing Africa’s infrastructure and industrial transformation,” said Samaila Zubairu, President & CEO of Africa Finance Corporation. “It reflects the institution we have built: a solutions-oriented, execution-driven platform with disciplined balance-sheet management and a track record of delivering complex, high-impact projects. Just as importantly, it reinforces AFC’s commitment to work in lockstep with sovereign priorities, supporting long-term national development plans with bankable structures, catalytic capital, and measurable outcomes that accelerate growth, competitiveness, and jobs across the continent.”
S&P highlighted AFC’s experienced management team, its successful capital-raising programme and track record of maintaining very strong liquidity coverage ratios, even under stressed market conditions. S&P commented, “Based on end-2024 data, our 12-month liquidity ratio was 3.1x (including scheduled loans disbursements), while the six-month ratio was 5.5x. These ratios compare favorably with peers. Under stressed market conditions, we consider AFC’s liquid assets sufficient to service its borrowing and maintain operations through the next year without slowing the pace of planned disbursements.”
The S&P ratings are expected to further reinforce AFC’s role as a catalyst for private investments, as it continues to finance infrastructure, industrialisation and trade-enabling assets critical to Africa’s long-term economic transformation.
Structured Credit International Corp. (www.4SCIC.com) acted as a ratings adviser to AFC.
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile: +234 1 279 9654
Email: yewande.thorpe@africafc.org
About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.
Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of energy, natural resources, heavy industry, transport, and telecommunications. AFC has 48 member countries and has invested over US$18.5 billion in 36 African countries since its inception.
AFC is also rated A3 (Stable Outlook) by Moody’s Ratings, A+ (Stable Outlook) by Japan Credit Rating Agency, and AAAspc (Stable Outlook) by S&P Ratings (China) Co., Ltd. and AAA (Stable Outlook) by China Chengxin International Credit Rating Co. Ltd. (CCXI). www.AfricaFC.org
Africa Finance Corporation (AFC) (www.AfricaFC.org), le principal fournisseur de solutions d’infrastructures du continent, se félicite de l’attribution des cotes de crédit d’émetteur à long terme « A » et à court terme « A-1 », avec une perspective positive, par S&P Global (S&P) Ratings, à la suite de l’annonce officielle faite par l’agence de notation.
Selon S&P, les notations reflètent le profil de risque institutionnel et financier solide d’AFC, étayé par de solides réserves de liquidité, une gestion disciplinée des risques et la capacité de l’établissement à mobiliser des capitaux privés pour des projets industriels et d’infrastructures complexes et transfrontières à travers l’Afrique. La catégorie « A » représente la notation la plus élevée attribuée à AFC par une agence de notation de premier plan à l’échelle mondiale, renforçant sa position en tant qu’établissement financier africain le mieux noté en matière d’investissement, renforçant son leadership sur les marchés mondiaux des capitaux et soutenant l’accès continu à des sources de financement diversifiées et à long terme.
Dans son analyse publiée, S&P met en relief la portée renforcée d’AFC, son mandat élargi et son modèle opérationnel établi, soulignant le leadership de l’organisation dans la fourniture d’infrastructures et d’actifs industriels essentiels à la croissance à long‑ terme de l’Afrique. L’agence a notamment souligné la capacité d’AFC à structurer et à exécuter des transactions complexes, ainsi qu’à déployer des capitaux dans des secteurs prioritaires où le seul financement privé est souvent insuffisant.
S&P fait également référence à la présence continentale croissante d’AFC, l’organisation ayant déboursé 18,5 milliards USD dans 36 pays africains depuis sa création. Les investissements couvrent l’énergie, les transports et la logistique, les ressources naturelles, l’industrie lourde, les télécommunications et la technologie, avec des projets phares tels que le corridor de Lobito, qui relie l’Angola, la Zambie et la République démocratique du Congo, un corridor commercial et logistique d’importance stratégique soutenant l’intégration régionale et la résilience de la chaîne d’approvisionnement. S&P indique : « Compte tenu de son mandat et de l’accent mis sur le financement des infrastructures critiques, AFC joue selon nous un rôle stratégique important qui n’est pas facilement reproduit par d’autres institutions de financement du développement ou bailleurs commerciaux. »
Parmi les autres investissements d’AFC figurent les plateformes industrielles intégrées ARISE, qui soutiennent le développement de zones industrielles ancrées dans la valeur ajoutée locale dans des secteurs tels que l’agrotransformation, la fabrication et la logistique, et le complexe de cuivre Kamoa-Kakula en République démocratique du Congo, l’un des projets de cuivre les plus performants et à la croissance la plus rapide au monde. La société présente un solide bilan de cessions d’actifs, y compris des sorties partielles d’ARISE et du port ghanéen de Takoradi, ce qui démontre la capacité d’AFC à créer, à dimensionner et à réinvestir de manière responsable des capitaux. Ensemble, ces investissements soulignent la capacité d’AFC à combiner l’impact sur le développement à long terme avec une exécution disciplinée et une gestion des capitaux.
La perspective positive reflète l’attente de S&P selon laquelle AFC continuera d’élargir sa base de 60 actionnaires (notamment des fonds souverains, des établissements financiers, des fonds de pension et des organismes multilatéraux), de renforcer sa position en fonds propres et de maintenir de solides indicateurs de liquidité et de qualité des actifs dans le cadre de sa stratégie moyen-termiste.
« Cette notation S&P Global est une véritable validation de la solidité financière, de la gouvernance et du rôle stratégique d’AFC dans le financement des infrastructures et de la transformation industrielle de l’Afrique », déclare Samaila Zubairu, président et CEO d’Africa Finance Corporation. « Cela reflète l’institution que nous avons construite : une plateforme axée sur les solutions et sur l’exécution, avec une gestion disciplinée des bilans et une expérience dans la réalisation de projets sophistiquées et à fort impact. Tout aussi important, elle renforce l’engagement d’AFC à travailler en étroite collaboration avec les priorités souveraines, en soutenant les plans de développement nationaux à long terme au moyen de structures bancables, de capitaux catalyseurs et de résultats mesurables qui accélèrent la croissance, la compétitivité et l’emploi sur l’ensemble du continent. »
S&P souligne l’expérience de l’équipe de direction d’AFC, le succès de son programme de levée de capitaux et son bilan en matière de maintien de ratios de couverture de liquidités très élevés, même dans des conditions de marché tendues. S&P a commenté : « Sur la base des données de fin 2024, notre ratio de liquidité sur 12 mois était de 3,1x (y compris les décaissements de prêts programmés), tandis que le ratio sur six mois était de 5,5x. Ces ratios se comparent favorablement à ceux des pairs. Dans des conditions de marché tendues, nous estimons que les actifs liquides d’AFC sont suffisants pour assurer le service de ses emprunts et maintenir ses opérations tout au long de l’année prochaine sans ralentir le rythme des décaissements prévus. »
Les notations S&P devraient renforcer encore le rôle de catalyseur d’AFC pour les investissements privés, alors que l’entreprise continue de financer les infrastructures, l’industrialisation et les actifs essentiels à la transformation économique à long terme de l’Afrique.
Structured Credit International Corp. (www.4SCIC.com) a agi en tant que conseiller de notation auprès d’AFC.
Distribué par APO Group pour Africa Finance Corporation (AFC).
Relations avec les médias :
Yewande Thorpe
Communications
Africa Finance Corporation
Portable : +234 1 279 9654
Email : yewande.thorpe@africafc.org
À propos d’AFC :
AFC a été créé en 2007 pour être le catalyseur d’investissements pragmatiques d’infrastructures et industriels à travers l’Afrique. L’approche d’AFC allie expertise sectorielle et conseil financier et technique, structuration et développement de projets, et capital-risque pour répondre aux besoins de développement des infrastructures de l’Afrique et stimuler une croissance économique pérenne.
Dix-huit ans plus tard, AFC présente un bilan éprouvé en tant que partenaire de choix en Afrique pour investir et fournir des actifs d’infrastructure de haute qualité qui fournissent des services essentiels dans les secteurs de base de l’énergie, des ressources naturelles, de l’industrie lourde, des transports et des télécommunications. AFC compte 48 pays membres et a investi 18.5 milliards USD dans 36 pays africains depuis sa création.
AFC a également reçu les cotes A3 (perspective stable) de Moody’s Ratings, A+ (perspective stable) de Japan Credit Rating Agency, AAA spc (perspective stable) de S&P Ratings (China) Co., Ltd. et AAA (perspective stable) de China Chengxin International Credit Rating Co. Ltd. (CCXI). www.AfricaFC.org
Le Président de la République, Alassane Ouattara, a échangé le jeudi 29 janvier 2026 à Abidjan, les vœux du nouvel an 2026 avec les membres de l’administration du territoire et les groupements et partis politiques. À cette occasion, le Chef de l’État a engagé l’administration territoriale à maintenir l’esprit de responsabilité, d’opportunité et d’innovation pour faire avancer la Côte d’Ivoire dans la stabilité, la solidarité et les progrès partagés.
À cet égard, il a salué l’ambition des membres de l’administration territoriale pour une gouvernance locale plus participative et inclusive, impliquant davantage les populations dans la planification, le suivi et l’évaluation des programmes publics. « Ce changement de paradigme contribuera, sans aucun doute, à l’amélioration de l’action publique au niveau territorial et à l’émergence de solutions durables, co-construites avec les acteurs locaux », a-t-il souligné.
Il a également rappelé le rôle moteur plus que jamais décisif de l’administration pour garantir la mise en œuvre efficace des politiques publiques au plus près des populations.
Alassane Ouattara a, par ailleurs noté, avec satisfaction, la volonté du corps préfectoral, en cette année 2026, d’intensifier l’action des comités départementaux de sécurité dans la lutte contre les grands fléaux de la société à travers une approche coordonnée et responsable.
Pour soutenir davantage les actions de proximité des membres de l’administration territoriale, le Président de la République entend poursuivre la dynamique de modernisation de l’administration et des finances publiques.
Dans ce sens, les textes relatifs aux transferts de compétences feront l’objet d’un examen attentif par le gouvernement. « Je comprends votre attente quant à l’adoption prochaine d’un cadre juridique destiné à renforcer le statut des élus locaux. Ce cadre est essentiel pour consolider votre rôle institutionnel », a-t-il ajouté.
Pour sa part, le préfet de la région de l’Indénié-Djuablin, Eugène Kouadio Kouassi, par ailleurs porte-parole de l’administration du territoire, des partis et groupements politiques a réaffirmé l’engagement du corps préfectoral à œuvrer pour une administration territoriale plus efficace, plus accessible et toujours plus proche des populations. Non sans remercier le Président de la République pour l’amélioration des conditions de vie et de travail de ses pairs.
Distribué par APO Group pour Portail Officiel du Gouvernement de Côte d’Ivoire.
Source: The Conversation – Africa – By Nadine Biehler, Researcher, German Institute for International and Security Affairs
Images of rubber dinghies overcrowded with refugees heading for Europe and narratives about mistreatment and exploitation of migrants on unsafe migration routes have come to dominate how African migration is perceived in European public and policy debates.
They suggest a continent on the move, driven mainly by conflict and heading to the global north. These narratives are deeply misleading. Nevertheless, they shape public opinion and political decision-making.
Fears of large-scale migration from Africa to Europe are exaggerated. Data shows migration from Africa has been growing, but more slowly compared to growth rates of migration worldwide – and largely takes place on the continent.
Because migration from Africa is seen primarily as a looming crisis for Europe, policy responses tend to focus on border control and deterrence, rather than on cooperation, the development potential of migration or protection.
We are researchers working on migration, forced displacement and data analysis. We combined our expertise in a new working paper to analyse the latest data from the UN Department of Economic and Social Affairs (UN DESA) on global migration. We also looked at current data on forced displacement.
We found that:
most African migration happens within Africa
the majority of African migrants moving across borders are not fleeing violence
the vast majority of those forced to flee never leave their own country or region, let alone the continent.
Understanding these mobility patterns is essential for more realistic and effective European migration policies.
The data
The UN DESA migration estimates that our paper is based on are the most comprehensive global data source available on migration. The estimates measure how many migrants live in a country at a given point in time (stock data). However, they don’t capture when they moved (flow data) or why. In addition, UN DESA figures exclude movements within countries.
Our paper complements these estimates with data provided by the UN Refugee Agency and the Internal Displacement Monitoring Centre on forced displacement. This includes internal displacement, which is particularly widespread in Africa.
This research found that most African migration takes place within Africa.
Globally, there were about 304 million international migrants in 2024. Africans made up around 15% of that total.
In other words, the majority of the world’s migrants are not from Africa.
Even more striking is where African migrants actually go.
In 2024, around 25 million Africans were living in an African country outside the one they were born in or held citizenship of. This exceeded the number of Africans living outside the continent (20.7 million) by around 21%.
This means that African migration is predominantly intracontinental, a long-standing trend that has become even more pronounced over time.
Several factors help explain this.
Travel within Africa is often cheaper and safer than journeys to other continents. Regional free movement agreements, such as those in west and east Africa, enable cross-border mobility. At the same time, legal pathways to Europe, North America or Asia remain limited and costly for most Africans, with high visa rejection rates and few opportunities for regular migration.
African migration is also gendered. Men are more likely to migrate than women, especially when moving beyond the continent. This gap is smaller for migration within Africa. This suggests that more accessible legal routes and less dangerous journeys help with overcoming migration barriers for women.
Forced displacement
War and conflict are forcing more people to leave their homes worldwide, and Africa is no exception.
By the end of 2024, more than 120 million people globally were forcibly displaced by war and violence. However, the majority of them (73.5 million, or 60% of the forcibly displaced globally) never left their own country to seek asylum elsewhere. They remained internally displaced in their countries of origin.
This is particularly true for the African continent, where almost half of all internally displaced people worldwide lived.
Sudan and the Democratic Republic of Congo account for almost 80% of internal displacement in Africa.
Even when Africans do cross borders to seek protection, they usually stay close to home.
In 2024, almost 87% of the 12.2 million African refugees and asylum seekers worldwide lived on the African continent. Only a small minority sought protection outside Africa.
This challenges the widespread idea that forced displacement in Africa automatically translates into large-scale migration to Europe.
In reality, neighbouring countries – often themselves affected by poverty or instability, and sometimes both countries of origin and destination for forcibly displaced people – carry most of the responsibility for hosting displaced populations.
Even when taking into account future displacement scenarios driven by the climate crisis, the World Bank estimates that affected people will remain within their regional neighbourhoods.
Still, globally, as well as in Africa, voluntary migration dominates: out of 45.8 million African migrants globally, refugees and asylum seekers make up 12.2 million.
This is also true for African migration to countries of the European Union, where residence permits for work, education or family reasons (2024: about 670,000) significantly exceed first-time asylum applications (2024: about 240,000).
Why these findings matter
First, the data shows clearly that African migration is not primarily about Europe. It is, above all, about Africa itself. For European and other global north policymakers, our findings suggest a need to rethink priorities. Supporting refugee-hosting countries in Africa, expanding legal migration pathways and investing in reliable migration data may ensure more effective migration management. Focusing narrowly on deterrence is misplaced.
Second, our findings highlight the importance of African countries and regions as migration destinations and refugee hosting states. Countries such as Uganda, Côte d’Ivoire, South Africa or Nigeria host millions of migrants and refugees, often with far fewer resources for integration and protection than wealthier states. For African governments, this means continuing to strengthen regional and continental mobility frameworks. These would allow people to move safely and legally for work, education or family reasons. Intra-regional migration is already the backbone of African mobility. It is likely to remain so.
Third, the analysis demonstrates that UN DESA data is indispensable but incomplete. It excludes domestic migration, undocumented migration and many forms of temporary or circular mobility common in Africa. Funding cuts to international data-collection institutions risk further weakening evidence-based policymaking.
Understanding how people actually move – and why – is essential for designing fair and realistic migration policies.
– African migration: focusing on Europe misses the point – most people move within the continent – https://theconversation.com/african-migration-focusing-on-europe-misses-the-point-most-people-move-within-the-continent-273679
Source: The Conversation – Africa – By Martina van Heerden, Senior Lecturer in English for Educational Development, University of the Western Cape
Students’ well-being in higher education has been a growing concern globally since the coronavirus pandemic, which disrupted learning and lives generally.
Well-being has been described as “the combination of feeling good and functioning well; experiencing positive emotions such as happiness and contentment as well as the development of one’s potential, having some control over one’s life, having a sense of purpose, and experiencing positive relationships”.
Well-being is important for student engagement, achievement and belonging, which all make for a more positive learning and teaching experience.
We teach in an academic literacy module at a historically disadvantaged university in South Africa. Since the pandemic, we’ve continued to see that students’ well-being is often neglected, especially by students themselves. This neglect could potentially lead to lack of motivation, lack of interest and burnout.
In South Africa, first-year students’ well-being is often precariously placed, as they have to navigate socioeconomic and familial stresses, while adjusting to the demands of higher education. One of the many hurdles that students face is due to the “digital divide”, and it includes having to learn how to use unfamiliar technological resources. There are high dropout rates for first-year students.
That’s despite the efforts of universities to support them.
As academic literacy practitioners, we aim to help students to understand what’s required of them academically. In the last five years, since the pandemic, we’ve revised our module to foster a more caring, responsive and engaging environment. The idea is to smooth the way into university studies and to enhance student well-being.
We recently published a paper on what we’ve learnt so far. Our main finding is that creating a “care-full” environment for learning is not as simple as it sounds. Care has to be offered at various levels – and also received. Universities, lecturers and students still need to overcome some barriers to receiving care.
Getting to know students
Our academic literacy module is offered to first-year undergraduate students and runs for both semesters, with a different group of students each semester. In line with the university’s mandate, the module is concerned with student flourishing and success.
During the pandemic (2021-2022), we became aware of our students being in emotional distress, and so, to focus more deliberately on student well-being, we adopted a more “care-full” approach to learning and teaching. We embedded “care” into our module, by considering how we might equip students better to deal with the demands of higher education. We listened to our students’ experiences and needs and made the necessary adjustments to provide a more supportive, holistic, care-full classroom. This continued in our post-pandemic classroom.
The changes included adding assignment-specific guides, more resources, more focused discussions on time management and organisation, regular reminders of due dates, and links to work apps.
We also had regular conversations with the students as our way of getting to know them and finding out how they were coping. We wanted them to know that we were there to care for them, not just to impart knowledge.
But we came to realise that by 2023 students were still struggling with the same issues as before, despite the changes we had made. This became clear from student questionnaires, end-of-semester feedback forms, and the informal conversations we had with them.
An analysis of our data showed that certain challenges acted as impediments to care and negatively affected students’ well-being. The three main impediments were:
resources
time management
anxiety.
In other words, these problems prevented students from “receiving” and benefiting from the care we offered.
Resources
Resources present a dual impediment to students’ well-being. Firstly, students might not have access to resources like laptops and a stable internet connection. Secondly, they might not know how to use the available resources efficiently.
For example, many of our students indicated that they struggled to find lecture content or to submit assignments on the university’s Learning Management System. This was even though we had made “how-to” guides for students showing step-by-step instructions and the university scheduled workshops on how to navigate it. Resources became another hurdle instead of helping as intended.
Organisation and time management skills
Many students struggle with meeting deadlines and balancing their social and university lives. During the pandemic, the online environment provided little structure to their days, so some of them struggled with managing their workload. This continued when classes were back on campus. It is not a problem that is unique to South Africa, but time management is important for well-being (and thus student success).
Feelings of inadequacy and anxiety
The last impediment we identified related to feelings of inadequacy and anxiety. These feelings may be a result of struggles with resources and time management skills, but they might also be related to students’ own perceived competence in their studies. Anxiety has become a challenge for many students in university, not just in South Africa, but globally. These feelings may stop students from reaching out for help.
We’ve realised these challenges act as impediments to care. That is, despite the efforts educators may put into creating a “care-full” environment, certain challenges can hamper their effectiveness. In our context, we weren’t able to make all our students feel cared for. This realisation could negatively affect the well-being of students and educators alike. Academics are at risk of burnout too.
We still think academics have to be “care-full” with students, but they can’t do it alone, and their care has to be reciprocated if it’s to result in academic success and well-being. Care requires input from both the educators (the carers) and the cared-for (the students). When it works both ways, a “care-full” approach might improve students’ well-being.
Both parties need to take responsibility. Students must be willing to receive care by taking care (that is, asking for advice, accepting the advice and resources that have been made available, doing what they can).
We understand that they might feel uncomfortable or anxious; we are not blaming them. Educators must take care in interactions with students, in pedagogical choices, and in content. University structures and processes are also involved in care. And the issue extends beyond the confines of the university into the national health, welfare and safety landscape. Care requires buy-in from all parties. Otherwise there may be limits to how care is received.
– Student well-being comes from care, but is caring enough? Academics reflect on 3 stumbling blocks – https://theconversation.com/student-well-being-comes-from-care-but-is-caring-enough-academics-reflect-on-3-stumbling-blocks-274066
How much we pay for the debt that we incur determines a great deal in our lives. This is true of countries too. In the world of sovereign debt – money raised or borrowed by governments – the cost of debt is dependent on, among other factors, how rating agencies “grade” a country.
It’s a sensitive issue. Three agencies dominate the rating business. A criticism often meted out is that they judge African countries more harshly than others, which pushes up borrowing rates. These tensions lie behind the acrimonious fall-out between one of the big three – Fitch – and the African Export-Import Bank (Afreximbank).
On 28 January 2026 Fitch announced it had downgraded the bank’s credit rating to junk status, and that it was ending its relationship with the bank.
Fitch’s decision was preceded by Afreximbank announcing that it was severing all ties with the rating agency. A few days later the African Union weighed in, issuing a statement from its watchdog, the African Peer Review Mechanism, backing the bank’s decision, and warning Fitch not to issue any credit assessments of the bank. The rating agency clearly chose to ignore the warning.
Below you can find articles from our archives that examine various dimensions of Africa’s debt challenges.
The Future Hospitality Summit Africa (FHS Africa) (www.FutureHospitality.com/Africa) will return to Nairobi on 31 March – 1 April 2026, bringing together some of the most influential leaders shaping hospitality, tourism and investment across the continent. The event will take place at the Radisson Blu Hotel, Nairobi Upper Hill.
As Africa’s hospitality sector continues to attract growing international attention and capital, FHS Africa provides a platform for high-level discussion on investment, development, destination strategy and operational performance. The Summit is designed for senior decision-makers, with a strong emphasis on partnerships, policy alignment and commercial outcomes.
Discussions around destination leadership and tourism growth will draw on insights from Juliana Kagwa, Chief Executive Officer of the Uganda Tourism Board, while Ashish Sharma, Chief Executive Officer of Serena Hotels Africa, and Rosco Wendover, Chief Executive Officer of Angama Group, will bring perspectives from operating and scaling hospitality brands across African markets.
The agenda will also focus on investment and development, informed by leaders such as Ewan Cameron, Director, Africa, Westmont Hospitality Group; Rahul Chaudhary, Managing Director and CEO of CG Corp Global; Olivier Granet, Managing Partner and Co-Chief Executive Officer of Kasada Capital Management amongst other key investors, who will share insight into capital deployment, deal structures and investor priorities across the continent.
Broader themes around strategy, sustainability and long-term destination planning will be addressed through the expertise of Dr. Aradhana Khowala, Chief Executive Officer and Founder of Aptamind Partners, while Mita Vohra, Board Director and Head of Sales, Marketing, Revenue and Distribution at Sarova Hotels, will contribute a commercial lens on revenue, distribution and brand performance.
Entrepreneurship and African brand growth will feature prominently, with Jameel Verjee, Founder and Chief Executive Officer of CityBlue Hotels, sharing experience on building and scaling hospitality brands regionally. The programme will also include a global perspective on travel demand and destination perception from Peter Greenberg, Travel Editor at CBS News.
Commenting on FHS Africa’s programme, Roy Bannister, Head of Strategic Partnerships, Africa at The Bench, said: “The calibre of speakers and the level of sponsors participating is a testament to the quality of discussions at FHS Africa. Attendees operating in this sector cannot afford to miss this event – it’s where pipeline reports, economic analysis, data, and the most relevant industry discussions on finance, development, technology and sustainability come together. The insights and connections gained here are essential for anyone leading or investing in African hospitality.”
FHS Africa has established itself as a key meeting point for leaders shaping the future of hospitality on the continent, with previous editions generating significant business activity and long-term partnerships. The 2026 Summit is expected to build on this momentum, reinforcing Africa’s position as a priority market for hospitality investment and innovation. http://www.FutureHospitality.com/Africa
Distributed by APO Group on behalf of Future Hospitality Summit Africa (FHS Africa).
About Future Hospitality Summit Africa:
Future Hospitality Summit Africa (FHS Africa) is Africa’s leading hospitality investment and leadership forum, bringing together senior executives, investors, developers and policymakers to drive sustainable growth and collaboration across the hospitality ecosystem. The 2026 Summit will take place 31 March – 1 April at the Radisson Blu Hotel, Nairobi Upper Hill, Kenya.
Sponsors include:
Host Partner: Westmont Hospitality Group
Strategic Partners: Accor, BWH Hotels, ClubMed, IHG Hotels & Resorts, Radisson Hotel Group
Headline Sponsors: ACT; CityBlue, CHIC, Hansgrohe, Kofisi, Quo, Rotana, The First Hospitality Group, Tui Hotels & Resorts; Uganda Tourism Board
Sponsors: Aleph Hospitality, Gary Greene Design, Knight Frank, STR
Education Partner: Millat Group
Networking Partner: AIRE, Trianum Hospitality
Official Carrier: Kenya Airways
The State of Qatar affirmed its continued efforts with international partners to consolidate security and stability in the region, as well as to continue supporting the brotherly Palestinian people until they obtain all their legitimate rights, foremost among them their right to self-determination, ending the occupation, halting the settlement activities, and establishing their fully sovereign and viable independent state on the 1967 borders with East Jerusalem (Al-Quds) as its capital, in accordance with international legitimacy resolutions and the two-state solution principle. This came in the State of Qatar’s statement delivered by HE Permanent Representative of the State of Qatar to the United Nations Sheikha Alya Ahmed bin Saif Al-Thani, during the Security Council’s quarterly open debate on ‘The situation in the Middle East, including the Palestinian question,’ held at the UN headquarters in New York. Her Excellency pointed out the announcement of the second phase of the ceasefire agreement in the Gaza Strip, expressing the State of Qatar’s hope that this will contribute to consolidating the truce and addressing the deteriorating humanitarian situation in Gaza. Alongside eight Arab and Islamic countries that participated in the multilateral summit with US President Donald Trump, Qatar announced its accession to the Peace Council, affirming its support for the implementation of the council’s mission as a transitional body, as stated in the comprehensive plan adopted by Security Council Resolution 2803, with the aim of establishing a permanent ceasefire, reconstruction, and advancing towards a just and lasting peace based on the right of the brotherly Palestinian people to self-determination and the establishment of their state in accordance with international law, Her Excellency said. She also noted that the State of Qatar welcomed the coordination with mediators; the Arab Republic of Egypt and the Republic of Turkiye, in forming the Palestinian technocratic committee to administer the Gaza Strip, expressing hope that this would pave the way for the implementation of the second phase of the agreement. HE Qatar’s Permanent Representative to the UN emphasized that, through its representative on the Gaza Executive Board, the State of Qatar would continue to contribute to efforts aimed at establishing effective governance and promoting peace and stability in the Gaza Strip. She also stressed the importance of implementing Security Council Resolution 2803 to ensure a comprehensive and sustainable ceasefire, the delivery of sufficient humanitarian aid without restrictions or impediments, the reconstruction of the Gaza Strip, a complete Israeli withdrawal from Gaza, and the prevention of the displacement of the Palestinian people. Her Excellency pointed out the urgent need to immediately expand early recovery efforts, lift restrictions on the entry and distribution of essential supplies, rehabilitate infrastructure and hospitals, and open the Rafah crossing in both directions, as stipulated in the comprehensive plan. There is no alternative to the effective implementation of the agreement, HE Sheikha Alya said, expressing the State of Qatar’s condemnation of the Israeli occupation’s attacks on the Gaza Strip, considering them a dangerous escalation. She further stressed the need for concerted regional and international efforts to preserve the agreement and ensure adherence to it. HE Qatar’s Permanent Representative to the UN reiterated Qatar’s support for Syria’s sovereignty, independence and territorial integrity, and its condemnation of the Israeli bombing and incursions that violate Syrian sovereignty and international law and undermine efforts to establish peace in the region. HE Permanent Representative of the State of Qatar to the United Nations Sheikha Alya Ahmed bin Saif Al-Thani affirmed the State of Qatar’s position supporting the sovereignty and territorial integrity of the Lebanese Republic, condemning the Israeli raid on Ain Al Hilwehآ Palestinian refugee camp, considering it an attack on the defenseless Palestinian people, a violation of Lebanese sovereignty, and a breach of international law.
The South African Reserve Bank’s Monetary Policy Committee has kept the repo rate unchanged at 6.75%.
This was announced by Reserve Bank Governor, Lesetja Kganyago on Thursday.
The prime lending rate will also stay steady at 10.25%.
“Two members [of the MPC] favoured a cut of 25 basis points, while four preferred a hold.
“The Quarterly Projection Model continues to forecast gradual rate cuts as inflation subsides. The model interprets the policy stance as moderately restrictive currently, with rates reaching neutral levels during 2027.
“As before, this rate path remains a broad policy guide. Our decisions will continue to be taken on a meeting-by-meeting basis, with careful attention to the outlook, data outcomes, and the balance of risks to the forecast,” he said.
Kganyago added that South Africa’s economic growth “looks steadier”, noting that there has been expansion for four quarters – with available data suggesting that “it grew further in the most recent quarter”.
“This would mark the longest unbroken growth phase since 2018. The main growth driver has been household consumption, up by more than 3% last year, compared to an estimated 1.3% for the overall economy.
“Unfortunately, investment has been weak, contracting during the first half of 2025. However, the third-quarter data showed a rebound. We hope this investment recovery will be sustained, allowing the economy to achieve structurally higher growth.
“Our forecasts continue to show growth moving somewhat higher, approaching 2% over the medium term. We see some upside risks to these projections,” he said.
Inflation came in higher towards the end of 2025 at 3.6% in December but is expected to slow.
“Indeed, our near-term inflation forecast has fallen, with the rand stronger and a lower oil price assumption.
“We are, however, keeping an eye on food inflation, especially meat prices, which are being affected by a serious outbreak of foot and mouth disease. We are also concerned about electricity prices, given that NERSA’s price correction may rise from R54 billion to R76 billion.
“More positively, inflation expectations have fallen, with the latest survey showing longer-term expectations at record lows. We look forward to expectations declining further, as South Africans experience ongoing lower inflation and learn more about the new target,” Kganyago noted.
He described the past year as a “watershed year for the South African economy”.
“Despite a volatile global backdrop, there was significant progress on domestic reforms, including a new inflation target. These efforts have been rewarded with lower borrowing costs, a rapid decline in inflation expectations, and steadier growth.
“It is crucial to sustain this progress. For monetary policy, our main contribution is to deliver on the new target, which means stabilising inflation at 3% over the next few years.
“Further gains in economic performance would come from reaching a prudent public debt level, lowering administered price inflation, and continuing structural reforms that raise potential growth,” Kganyago concluded. – SAnews.gov.za
