Newscast - Africa

Australia central bank says the country will erase the British monarch from its banknotes, replacing the late Queen Elizabeth II’s image on its $5 note with a design honoring Indigenous culture.
The Reserve Bank of Australia says it would consult Indigenous people on a new design that honors the culture and history of the First Australians.
The central bank says its decision was supported by the center-left Labor government of Prime Minister Anthony Albanese, who favors an eventual move to an Australian republic.

The head of Malawi's Anti-Corruption Bureau, Martha Chizuma, has been suspended over leaked audio in which she made comments that could potentially prejudice people accused of corruption.
The audio leaked more than 12 months ago with President Lazarus Chakwera describing it at the time as corruption fighting back.
He also suggested that the audio was being circulated to force him into sacking her.
Ms. Chizuma remained in the job with the president’s backing and went ahead to indict several high-profile officials, including Vice-President Saulos Chilima and a cabinet minister, on various corruption-related charges.

The Nigerian Electricity Regulatory Commission has disclosed that it has issued 11 new electricity generation licenses.
The approval of 11 new GenCos takes the country’s electricity generating plants to 40 as it had 29 of them- 26 gas plants, and three hydro plants- before the latest addition.
The 29 existing plants have a combined 13,461MW capacity, but they have been unable to generate up to 5000MW for some years.
Experts say Nigeria needs at least 30, 000MW to reach electricity sufficiency.
The NERC also stated in the report that it also renewed two of the existing licenses and transferred one on-grid generation license.

The Central Bank of Nigeria says it has engaged the microfinance banks and point-of-sale operators to swap the old currency across troubled communities in Zamfara State to boost the availability of the new naira notes,
The areas are located in the Zurmi, Shinkafi, Birnin Magaji, and Maru local government areas.
The CBN Branch Controller, Abbas Buhari, insisted on a maximum of N10,000 to be swapped per individual.
The apex bank however maintains that there is enough of the redesigned currency notes in circulation across the country.

President Muhammadu Buhari has officially launched the Ministry of finance incorporated which was originally set in 1959 through an act of parliament, as a custodian of the Federal government’s investments in various Government-linked companies and Government owned Enterprises.
President Buhari tasked the new Governing Council and the Board to raise the value of the MoFI’s portfolio from the current 18 trillion naira to 100 trillion nairas by 2033.
The President stated that the new leadership takes steps to mobilize capital and invest same in assets that are critical to the Federal Government’s revenue drive, to primarily convert the nation's current assets into cash-flow generating entities.

The US government has stopped approving licenses for American firms to export most items to Chinese technology giant Huawei.
It comes as the Biden administration continues to tighten its rules on exports of US technology to China.
Washington has previously accused Huawei of being a threat to US national security and of working with the Chinese Communist Party.
The US Commerce Department has told some American firms that it would no longer issue licenses for US technology exports to Huawei.

The International Monetary Fund says the UK economy will shrink and perform worse than other advanced economies, including Russia, as the cost of living continues to hit households.
The IMF says the economy will contract by 0.6% in 2023, rather than grow slightly as previously predicted.
Chancellor Jeremy Hunt says the UK outperformed many forecasts last year however shadow chancellor Rachel Reeves says the figures showed the UK lagging behind its peers.
The IMF says it had downgraded its forecast for the UK because of its high energy prices, rising mortgage costs, and increased taxes, as well as persistent worker shortages.

The government is announcing measures to robustly regulate the cryptocurrency industry.
It says the proposals, being published will give consumers confidence while allowing the sector to thrive.
Ministers say the measures will mitigate the most significant risks of crypto technologies while harnessing their advantages.
Economic Secretary to the Treasury Andrew Griffith says the government remained steadfast in its commitment to grow the economy and enable technological change and innovation and this includes crypto-asset technology.

The leaders of Zimbabwe and Belarus have signed agriculture and defence agreements.
This includes a deal to supply the southern African country with $60m (£49m) worth of tractors.
President Alexander Lukashenko says relations between the two countries had developed as a result of the western sanctions they are both under.
Mr Lukashenko accused the West of using economic sanctions to suppress both countries.
Zimbabwe has maintained a neutral stance since Russia invaded Ukraine almost a year ago.

Fuel prices in Cameroon will rise by about 15% after the government agreed to pressure from the International Monetary Fund to cut fuel subsidies.
A litre of diesel will rise from 575 CFA francs to 720 CFA francs, while petrol will sell for 730 CFA francs from 630 CFA francs.
The prime minister's office also announced a 5.2% pay rise for public service workers as a cushion to the impact of the increase in fuel prices.
Many unions had urged the government to increase the minimum wage for the private sector.