Newscast - Africa

African leaders have criticised wealthy nations for failing to turn up at a climate change summit in the Netherlands.
The only Western leader to appear in person was the Dutch host, Prime Minister Mark Rutte.
The Senegalese President Macky Sall says he felt bitter that the world's main polluters had failed to offer funds to help Africa adapt to global warming.
Congolese President Félix Tshisekedi says the continent contributed the least to climate change but suffered its worst consequences.

The Federal Government has suspended the introduction of a five per cent excise duty in the digital economy sector, a tax which was earlier proposed by the Minister of Finance.
The Minister of Communications and Digital Economy, Isa Pantami says he personally rejected the policy and advised President Muhammadu Buhari against it in view of the effects it would have on the digital economy.
He says the introduction of excise duty in the telecommunication and information and communications technology industry would jeopardise the successes already recorded within the industry.
Pantami also noted that currently, the ICT sector is over-burdened with multiple taxations both at the federal and state level.

The Minister of Education, Adamu Adamu outlined the Federal Government’s efforts to resolve the industrial action embarked upon by the Academic Staff Union of Universities on February 14.
Adamu says the government had offered the union a 23.5 per cent salary increase for all categories of the workforce in Federal Universities, except for the professorial cadre which will enjoy a 35% upward review.
Adamu says the government had also promised that a sum of N150 billion “shall be provided for in the 2023 Budget as funds for the revitalization of Federal Universities, to be disbursed to the Institutions in the First Quarter of the year.

The inaugural Africa-Caribbean Trade and Investment Forum kicked off in Bridgetown, Barbados.
The Global Head, Client Relations, AfreximBank, Rene Awambeng and the Chief Executive Officer of Invest Barbados, Kaye-Anne Greenidge said they were optimistic about the impact the forum would exert on participants.
The investment forum will focus on business-to-business engagements and panel discussions on several topics, including: accelerating industrialization and manufacturing; developing special economic zones and industrial parks; improving infrastructure.

The Kenya National Bureau of Statistics says Kenya’s consumer inflation rose to 8.5% year-on-year in August from 8.3% a month earlier, driven by increases in the price of food, transport and energy.
The August figure was the highest rate of inflation seen in Kenya since June 2017, when it was at 9.2%.
Kenyan inflation has accelerated in recent months, from just above 5% at the start of 2022, mainly due to the knock-on effects of increases in the international prices of crude oil.

The Bank of Mozambique has determined that travellers entering or leaving the country with more than 10,000 US dollars, or the equivalent in other foreign currencies, in bank notes or coins, must declare them.
This declaration of ownership also covers Mozambican currency moving more than 10,000 meticais in or out of the country will also require a declaration.
The bank says to declare these amounts, the holder of banknotes and coins must fill out a duplicated document at the customs authorities and must keep a copy of it.

The Indian oil company BPCL has announced that the production of liquefied natural gas may restart in the first half of next year.
BPCL managing director, Arun Singh, says with the efforts of the Mozambican Government, supported by a regional coalition, progress is being made in improving the security situation in the region, and the project will resume as soon as the security situation is stabilized in a sustainable manner.
The director announced that BPCL is expected to invest a further 1.8 billion US dollars over the next three or four years in Mozambique.

The vice chairperson of the parliamentary committee on National Economy, Robert Migadde says the total public debt has increased over recent years due to the implementation of the government's investment agenda and the effects of the Covid-19 pandemic that caused revenue shortfalls.
Uganda's public debt stock increased by 22% from Shs 56.938 trillion in the financial year 2019/20 to Shs 69.513 trillion by end of the financial year 2020/21.
Migadde explained that public debt is projected to increase over the medium term as the government continues to implement its investment programme to boost economic recovery.

South Africa's cabinet has approved a new design for coins that will feature inscriptions in all official languages.
The cabinet in a statement explained what the new design will look like for each denomination.
The word South Africa will be inserted on one side of the coins and printed in all the official languages.
The new coins will begin circulating next year and no sample design has been generated yet.

The Director-General of the Debt Management Office, Mrs Patience Oniha confirmed that Nigeria’s total debt profile as of March 2022 stood at N41.60 trillion.
She attributed Nigeria’s high debt profile to the shortfall in revenues and the deficit in the annual budget as approved by the National Assembly.
She says the country has been running a deficit budget for many years and until the issues of personnel, overhead and capital expenditure are properly addressed in the budget, borrowing would not stop.