African Eye Report

New Post: AngloGold Ashanti Announces Changes to its Board Committees, Board Roles - https://lnkd.in/eiYyVNmC Ashanti Announces Changes to its Board Committees, Board Roleshttps://lnkd.in/eiYyVNmC Ashanti plc today announced that with effect from 1 January, the membership of its Board Committees will be as follows. CEO of AngloGold Ashanti, Alberto Calderon. AngloGold Ashanti plc today announced that with effect from 1 January, the membership of its Board Committees will be as follows.   Audit and Risk Committee members are Alan Ferguson (Chair), Kojo Busia, and Bruce Cleaver. Rhidwaan Gasant. Al Garner Jinhee, and Magie Diana Sands.   Members of the Compensation and Human Resources Committee are Al Garner (Chair), Alan Ferguson, Rhidwaan Gasant, Nicky Newton-King, and Diana Sands. The Nominations and Governance Committee has Jochen Tilk (Chair), Rhidwaan Gasant, Alan Ferguson, Al Garner, and Diana Sands as members. Social, Ethics and Sustainability Committee members are Bruce Cleaver (Chair), Kojo Busia, Rhidwaan Gasant, Jinhee Magie, and Nicky Newton-King. In addition, Rhidwaan Gasant, Lead Independent Director, has informed the Company that he will not stand for reappointment at the Company’s Annual General Meeting in May 2025 and will, therefore, retire as a non-executive director from the conclusion of the meeting. “On behalf of the Board, I would like to thank Rhidwaan for the significant contribution he has made to AngloGold Ashanti over his tenure as director, and in particular as Lead Independent Director,” Chairman Jochen Tilk said. “We wish him all the very best in his future endeavours." The Board of Directors is pleased to appoint Alan Ferguson as Lead Independent Director from this date. Alan Ferguson will step down as the Audit and Risk Committee Chair from the conclusion of the 2025 AGM but will continue to serve as a member of the Committee. Diana Sands will succeed Mr Ferguson as Chair of the Audit and Risk Committee. All appointments are subject to the directors’ re-appointment by shareholders at the next AGM. African Eye ReportMASAHUDU ANKIILUAfrican Eye ReportAngloGold Ashanti Announces Changes to its Board Committees, Board Roleshttps://lnkd.in/ek9xFmq4

New Post: Bearish Sentiment Takes Hold in Oil Markets - https://lnkd.in/ekhy5Uae Sentiment Takes Hold in Oil Marketshttps://lnkd.in/e8qFkEyn and shallower were the two key takeaways for the Federal Reserve’s 2025 rate policy outlook, with a suggested prolonged pause in rate-cutting next year adding insult to the oil market’s injury. China's Covid Saga Sends Oil Prices Spiking Again Slower and shallower were the two key takeaways for the Federal Reserve's 2025 rate policy outlook, with a suggested prolonged pause in rate-cutting next year adding insult to the oil market’s injury. China remains a bearish factor for oil, with almost all 2025 outlooks trying to outcompete one another in terms of bearishness, all this leading to a dip in Brent prices to $72 per barrel again. Chinese More Bearish on China. China’s state refining giant Sinopec (SHA: 600028) expects the country’s oil consumption to peak by 2027 at 16 million b/d, with growth only coming from the petrochemicals sector as both gasoline and diesel are expected to fall next year by 2.4% and 5.5%. Oil Majors Swap Assets in Australia. US oil major Chevron (NYSE: CVX) announced it would sell its interest in the North West Shelf venture it co-operates with Australia’s Woodside (ASX: WDS) in return for the latter’s 13% stake in the $34 billion Wheatstone LNG project and an associated field. US Arbitrage to Europe Narrows. The spread between WTI and Brent futures narrowed to $3.40 per barrel this week, the smallest reading since October 2023, as tight crude inventories in the United States strengthened the US benchmark, restricting US oil exports after record volumes to NW Europe last month. Brazil Sweetens Upstream Offering of 2025. As Brazil prepares to hold its next upstream licensing round in the first half of 2025, its Energy Ministry announced it would add 393 new oil exploration blocks and five discovered fields to its permanent offer portfolio, mostly offshore blocks in the Santos basin. Iron Ore Set to Fall Through Key Barrier. Disappointed by the lack of improvements in China’s economy and the Australian government’s highly bearish forecast that sees iron ore averaging $80 per metric tonne in 2025, the metal posted four consecutive days of declines and dropped toward $101/mt. Oil Major Clinches Iraq Megadeal. UK oil major BP (NYSE: BP) agreed on technical terms with the government of Iraq to revive one of the largest oil fields in the country, Kirkuk, a decade after it was ravaged by the Islamic State, marking a return of BP to the field that it initially discovered in 1927. King Coal Surprises Everyone Again. The International Energy Agency has revamped its coal demand forecast again, expecting global consumption for coal to hit new records every year through at least 2027, increasing to nearly 8.9 billi

New Post: Many Africans Experience Difficulty, Disrespect in Accessing Public Services-Afrobarometer Pan-Africa Profile Shows - https://lnkd.in/enQ5MYRB Africans Experience Difficulty, Disrespect in Accessing Public Services-Afrobarometer Pan-Africa Profile Showshttps://lnkd.in/ewZBNXbR, Ghana// — Many Africans find it challenging to access public services, with significant minorities reporting disrespectful treatment by service providers, the latest Afrobarometer (www.Afrobarometer.org) Pan-Africa Profile (https://apo-opa.co/3VPqabk) shows. Tap water Accra, Ghana// -- Many Africans find it challenging to access public services, with significant minorities reporting disrespectful treatment by service providers, the latest Afrobarometer (www.Afrobarometer.org) Pan-Africa Profile (https://apo-opa.co/3VPqabk) shows. Based on data from 39 African countries, the new report focuses on the experiences of citizens who sought services from public health facilities, public schools, government agencies that provide identity documents, and/or the police during the 12 months preceding the surveys. Large pluralities say it was difficult to obtain an identity document, police assistance, or medical care. And more than a third each say they were treated with a lack of respect by government agencies and public hospitals or clinics. Youth and poor citizens are particularly likely to report difficulty in obtaining services as well as disrespectful treatment. Analysis of the data also shows that experiencing a lack of respect by public service providers is correlated with more negative views of the government and of democracy itself. Key findings On average, across 39 countries, substantial proportions of the adult population say they had contact with a public health care facility (58%), a public school (34%), and/or a government agency that provides identification documents such as a birth certificate, driver’s licence, passport, or permit (33%). More than four in 10 (45%) say they requested police assistance, encountered the police in other situations, or both.   Among those who report having contact with these public service providers: Almost half say they found it “difficult” or “very difficult” to obtain an identity document (49%), police assistance (46%), or health services (45%) (Figure 1). More than one-third say they were treated with little or no respect by ID authorities (39%) and medical staff (36%) (Figure 2). A similar proportion (34%) say police officers in their country rarely or never “operate professionally and respect the rights of all citizens.” Youth and poor citizens are particularly likely to repo

New Post: Asante Gold Announces $500 Million Gold Forward Purchase Pact  - https://lnkd.in/e6bPnu6c Gold Announces $500 Million Gold Forward Purchase Pact https://lnkd.in/ee-dDMWn, British Columbia// – Asante Gold Corporation announced that its subsidiary Asante Gold Bibiani Ltd, which owns the Bibiani mine, has entered into an agreement with Fujairah Holdings LLC  for the forward sale of $500 million in gold, which will provide US$100 million of financing to the company on a revolving basis over approximately two […] Asante Gold logo Vancouver, British Columbia// – Asante Gold Corporation announced that its subsidiary Asante Gold Bibiani Ltd, which owns the Bibiani mine, has entered into an agreement with Fujairah Holdings LLC  for the forward sale of $500 million in gold, which will provide US$100 million of financing to the company on a revolving basis over approximately two years on terms described below. Dave Anthony, President and CEO, stated, “We are pleased to announce this Gold Forward Agreement with Fujairah, a strategic and foundational partner for Asante. This Agreement will enable us to immediately accelerate the ramp-up of mining activities and completion of the sulphide treatment plant. We plan to increase gold production beyond 15,000 ounces per month at Bibiani by mid-year while we work to complete our other funding initiatives.” As an advance deposit (the “Initial Deposit”) toward future gold deliveries, Fujairah has paid $100 million to Asante Bibiani. Under the Gold Forward Agreement, there is a three-month grace period in respect of the Initial Deposit, following which the Company will deliver $100 million of refined gold to Fujairah commencing March 28, 2025, through June 28, 2025, with such deliveries to be credited against the Initial Deposit. Following the Initial Deposit, a series of four additional advance deposits and gold deliveries will be made in an aggregate amount of US$400 million over 22 months. There will be a two-month grace period in respect of each such $100 million additional advance deposit, following which the Company will deliver $100 million of refined gold to Fujairah over four months. All gold deliveries will be priced at a seven per cent discount to the market price of gold at the time of delivery. The proceeds of the Initial Deposit will primarily be used to advance growth initiatives at the Company’s operations, including accelerated ramp-up of mining activities and completion of a sulphide treatment plant at the Bibiani mine. Asante Bibiani’s obligations under the Gold Forward Agreement will be secured by a parent guarantee from Asante and by a debenture in respect of Asante Bibiani’s assets. Fujairah has agreed to a subordinated position to senior lenders and bondholders following the effectiveness o

New Post: Millennium Challenge Corporation Selects Liberia as Eligible for New Partnership - https://lnkd.in/eqFjsqBK Challenge Corporation Selects Liberia as Eligible for New Partnershiphttps://lnkd.in/er_fqmM9, Liberia// — The Millennium Challenge Corporation (MCC) has selected Liberia as newly eligible to develop a compact. Liberia was selected as eligible in recognition of the country’s commitment to pursuing critical economic and democratic governance reforms. MCC’s Chief Executive Officer Alice Albright Monrovia, Liberia// -- The Millennium Challenge Corporation (MCC) has selected Liberia as newly eligible to develop a compact. Liberia was selected as eligible in recognition of the country’s commitment to pursuing critical economic and democratic governance reforms. MCC expects all partner countries to continue to demonstrate an ongoing commitment to the principles of inclusive democratic governance that underpin MCC’s eligibility criteria.  Eligibility does not guarantee that Liberia will receive a compact program. MCC and the U.S. Embassy look forward to working closely with the Government of Liberia to launch the compact development process. The size and content of the final program are contingent on analytical work done in partnership between MCC and the Government of Liberia, the availability of funds, and approval of the proposed program by the MCC Board of Directors. MCC is a U.S. government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption, and respecting democratic rights. “MCC is proud of our longstanding history with Liberia and is enthusiastic about embarking on a new partnership to advance opportunities for the people of Liberia,” MCC’s Chief Executive Officer Alice Albright said. African Eye ReportMASAHUDU ANKIILUAfrican Eye ReportMillennium Challenge Corporation Selects Liberia as Eligible for New Partnershiphttps://lnkd.in/e6c5bP_6

New Post: AUCC Receives Presidential Assent to Become a Fully-fledged autonomous university, Renamed - https://lnkd.in/ew2fvBD6 Receives Presidential Assent to Become a Fully-fledged autonomous university, Renamedhttps://lnkd.in/eHK7R6d3, Ghana//-The Founder, Governing Council, Management, Faculty, Staff, Alumni, and Students of the African University College of Communications (AUCC) announced a pivotal achievement in its journey as a private university in Ghana received Presidential assent to run as a fully-fledged autonomous University. Professor Isaac Abeku Blankson, President of AUCB Accra, Ghana//-The Founder, Governing Council, Management, Faculty, Staff, Alumni, and Students of the African University College of Communications (AUCC) announced a pivotal achievement in its journey as a private university in Ghana received Presidential assent to run as a fully-fledged autonomous University. This feat was announced on Thursday, December 19, 2024, in a press release issued by the President of African University of Communications and Business (AUCB), Professor  Isaac Abeku Blankson. "This significant accomplishment aligns with the University’s new name, African University of Communications and Business (AUCB), which embodies the University’s expanded mission to provide world-class education and professional development opportunities that combine excellence in communication and media studies with robust industry and technology-oriented programs in business and entrepreneurship within a Pan African framework", it said. "As a Chartered University, AUCB reaffirms its commitment to equipping students with the skills and knowledge needed to thrive in today’s evolving economic and social landscapes. The African University of Communications and Business invites all its Internal and External Stakeholders to celebrate this significant milestone as it continues to build a legacy of academic excellence and societal impact". The journey to achieving this new status has been made possible through years of invaluable mentorship and guidance from the University of Ghana, University of Cape Coast, Ghana Institute of Management and Public Administration, University of Education, Winneba, as well as Ghana Tertiary Education Commission, and Ministry of Education. We extend our heartfelt gratitude to these esteemed institutions for their unwavering support", it said. The University was founded in 2002 by the Honorable Kojo Yankah as a private tertiary institution and the first Journalism and Communication school in Africa, known as the African Institute of Journalism and Communications (AIJC). In 2010, the institution broadened its academic offerings with the establishment of the School of Business, which was later renamed the Sam E.

New Post: Ghana’s Quarries: The Silent Struggles Beneath the Surface - https://lnkd.in/ej32c7Kp Quarries: The Silent Struggles Beneath the Surfacehttps://lnkd.in/ePAzZmqy, Ghana//-In November 2024, I set off on what I thought would be a typical investigative journey—one that would uncover facts, numbers, and statistics. But what I encountered in Ghana’s quarry sector left me shaken, heartbroken, and questioning how far we’ve come as a nation.Accra, Ghana//-In November 2024, I set off on what I thought would be a typical investigative journey—one that would uncover facts, numbers, and statistics. But what I encountered in Ghana’s quarry sector left me shaken, heartbroken, and questioning how far we’ve come as a nation. The journey began as part of my training with the Media Foundation for West Africa (MFWA), funded by the Norwegian Agency for Development Cooperation (NORAD) and Oxfam, but it became something much more personal. The backbone of infrastructure It started with the basics—quarries are the backbone of our nation’s infrastructure. The stones they provide go into roads, bridges, schools, and hospitals—everything that shapes the physical structure of our country. But as I visited quarry sites across Greater Accra, Central, and Eastern regions, I began to see a side of this industry that no one talks about—the invisible cost that the people and communities living around these quarries bear every day. Foreign takeover, local suffering The first shock came when I realised that the quarry sector, which was once in the hands of indigenous Ghanaians, is now largely controlled by foreign nationals. The Chinese, in particular, have taken over much of the industry. I remember standing at one quarry site, watching as workers loaded rocks into massive trucks. The sound of the machines drowned out everything else, but what struck me most wasn’t the noise—it was the realisation that these foreign nationals weren’t just controlling the land; they were extracting our resources and leaving behind nothing but dust. I spoke to a local Ghanaian who had applied for a permit, only to hand it over to a foreign operator. “How could we let this happen?” I thought. We’ve lost control of our land, our future. But it wasn’t just the foreign ownership that shocked me—it was the communities living in the shadows of these quarries. I visited villages where the roads, once passable, had been turned into craters by the heavy trucks that passed through daily. It wasn’t just a bumpy ride—it was dangerous. I thought about a pregnant woman making her way to an antenatal clinic, navigating the rough roads in her condition. The thought made me cringe. The noise and air pollution from the quarries make these places nearly uninhabitable, but the people living there see no

New Post: NPP Group Calls for Dissolution of NPP National Leadership and Campaign Team - https://lnkd.in/e-mjZizG Group Calls for Dissolution of NPP National Leadership and Campaign Teamhttps://lnkd.in/eq3KEXrB, Ghana//-A group calling itself Concerned Patriots for Change of the New Patriotic Party (NPP) has called for the dissolution of the party’s current national leadership, accusing them of incompetence. Members of the group addressing the press Accra, Ghana//-A group calling itself Concerned Patriots for Change of the New Patriotic Party (NPP) has called for the dissolution of the party’s current national leadership, accusing them of incompetence.   Addressing a news conference in Accra on Thursday, the Convener of the Group, Gbande Nasir Yussif, called for the establishment of an interim management committee to steer the affairs of the party until Congress is held. “The defeat of the NPP in the 2024 elections marks one of the darkest moments in our party's history. Despite our grassroots collective sacrifices and commitment, the leadership failed to develop and implement a winning strategy. Instead, poor planning, disorganisation, and a lack of accountability delivered a crushing defeat”, Mr Gbande fumed. The group also called for the immediate resignation of the current leadership, including all campaign heads, adding that their abdication of responsibility has undermined the trust of party members and the Ghanaian electorate. “In light of this monumental failure, we demand the immediate resignation of the current leadership, including all campaign heads. Their abdication of responsibility has undermined the trust of party members and the Ghanaian electorate. The group also called for a comprehensive and independent investigation into the root causes of this defeat. Specifically, they demanded answers to the following pressing concerns:  Mismanagement of Campaign Funds: Allegations abound regarding the misappropriation of campaign resources, particularly funds allocated for grassroots mobilisation under the GOTV initiative. The Hawk newspaper reports claimed over GHS 300 million was expended without clear impact or proper accountability”, the Convener expatiated. The Concerned Patriots for Change also raised a red flag on the Party’s constitution and demanded an immediate review of the NPP’s constitution to address systemic flaws that hinder the progress of the party. “Since 2022, the Annual Delegates Congress—a key decision-making body—has not been convened, leaving us reliant on an outdated electoral album that failed to produce competitive parliamentary candidates”, the group stressed. Below is the full statement PRESS CONFERENCE BY THE CONCERNED PATRIOTS FOR CHANGE OF THE NEW PATRIOTIC PARTY

New Post: Mauritania: African Development Bank Grants $150 Million Loan to Boost Mining Sector - https://lnkd.in/dczyZMCJ: African Development Bank Grants $150 Million Loan to Boost Mining Sectorhttps://lnkd.in/dV5a9EDZ, Ivory Coast// — The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $150 million senior loan to Mauritanian state-owned iron ore firm Société Nationale Industrielle et Minière (SNIM) to increase its logistics capacity and strengthen the country’s mining sector. Mining Abidjan, Ivory Coast// -- The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a $150 million senior loan to Mauritanian state-owned iron ore firm Société Nationale Industrielle et Minière (SNIM) to increase its logistics capacity and strengthen the country’s mining sector. The approval, granted on November 29, is part of SNIM’s $467 million logistics expansion program, which aims to double the transport capacity of its iron ore railway by 2030. The investment will enable the company to produce higher value-added products, such as iron ore pellets, and includes plans to construct a 12 MW photovoltaic solar power plant as part of decarbonising efforts. The initiative also underscores the African Development Bank Group's commitment to fostering sustainable economic growth and promoting inclusive development in Mauritania. “This program is a crucial forerunner of SNIM's future growth as a producer of high-quality iron ore and will facilitate its downstream integration,” said Solomon Quaynor, the Bank Group’s Vice President for Private Sector, Infrastructure and Industrialisation. “It also represents a significant step forward for Mauritania's mining sector and will help establish a true regional industrial hub in the medium term.” Quaynor highlighted the project's broader social and economic benefits, including community empowerment, job creation, particularly for youth and women, and the development of new regional partnerships. The project also includes climate resilience measures. The Global Center on Adaptation, through the Africa Adaptation Acceleration Programme (http://apo-opa.co/3VIEC50), will provide SNIM with technical assistance, conducting a comprehensive climate change risk assessment for its logistics and operations. This will help the company implement necessary adaptation measures to ensure a sustainable future. SNIM, one of the Bank’s long-standing partners, plays a critical role in Mauritania’s economy. In 2023, it contributed around 9 per cent of GDP, 14 per cent of government revenue, and 37 per cent of export value. As Africa’s second-largest iron ore producer and Mauritania’s largest company, SNIM employs 6,750 peopl

New Post: The Future of Customs: How Tech and Partnerships Are Paving the Way for Global Trade - https://lnkd.in/d2mJPG-d Future of Customs: How Tech and Partnerships Are Paving the Way for Global Tradehttps://lnkd.in/d2mJPG-d World Customs Organization (WCO) Technology Conference in Rio de Janeiro took place last November, but its energy and excitement remain vivid. It was clear that the global customs community recognised the urgent need for transformation. Lekki Port, Nigeria The World Customs Organization (WCO) Technology Conference in Rio de Janeiro took place last November, but its energy and excitement remain vivid. It was clear that the global customs community recognised the urgent need for transformation. Delegates from around the world agreed that the traditional customs processes are no longer sufficient to meet the demands of modern global trade. Digital innovation is the key to unlocking the potential of our customs operations. By embracing advanced technologies, we can streamline processes, enhance security, and facilitate the seamless flow of goods across borders. Technology is no longer simply a tool. Modern customs operations are complex and highly demanding, with millions in revenues depending on a smooth flow of goods through points of entry. Speed, accuracy, security, and resilience are key factors in ensuring this seamless process, and manual processes have made way for digital innovation provided by highly specialised service providers like Webb Fontaine. In their hands, technology has evolved from a mere tool to become the foundational framework of successful modern customs processes. Technologies like AI, machine learning, and data analytics are fundamentally transforming customs operations, where every single touchpoint within a customs operation - each shipment, inspection, and cross-border movement- generates valuable data. Technology enables users to make sense of this data with solutions like centralised data systems and Single-Window (http://apo-opa.co/3VKa4zK) platforms. Partnerships to elevate transformation efforts However, having access to the technology without the specialist insights needed to use it to its full potential serves no purpose. If technology is one of the pillars of evolving customs operations, the other is strategic partnerships—having the right partner with expertise to help customs authorities use these technologies effectively. But how do you choose the right partner? To this end, effective collaborations are as critical as the technologies themselves. Customs authorities should form strategic partnerships with those who can provide unique insights, those who know that international trade doesn’t happen in isolation, and those who understand the specific needs of each stak