Zimbabwe Central Bank has abandoned the quasi dollar it introduced in 2016. The peg of one Zimbabwe dollar to one US dollar has not worked as the black market rate has been in the range of three and a half to four Zimbabwe dollars to one U.S. dollar.
Economists say this move could lead to jitters in countries that hold the peg, including Saudi Arabia and Hong Kong.
Zimbabwe has long been dealing with currency instability that in 2009, it introduced the US dollar, euro, and the South African rand as legal tenders it thought would stem the wild round of hyper-inflation.
Namibia: Group Wants Parliament To Ban Foreigners From Owning Land In The Country
Namibia’s Affirmative Repositioning movement has called on parliament to enact a law that would ban foreign nationals from owning land in the country.
300 activists who took part in a peaceful demonstration on land and housing matters in the country submitted the proposal to parliament in Windhoek on Monday.
The proposal seeks to regulate foreigners’ right to acquire property in Namibia. It would also reaffirm and give power, control and ownership of the land in Namibia to the people of Namibia.
The second national conference in October last year had adopted a position to direct the government to expropriate under-utilized farmland and those farms and farms owned by absentee landlords who are mostly foreigners. It calls for just compensation as guided by the constitution.
UN Urges DRC President To Form New Government Without Delay
The United Nations top official in the Democratic Republic of the Congo has urged president Felix Tshisekedi to form a new government without delay, as the country continues its first peaceful transition of power in its nearly sixty years as an independent nation.
Head of the UN Mission in DRC, Leila Zerrougui, said discussions for the new government is underway between the Common Front for Congo, FCC, which secured the majority of legislative seats at the national and provincial levels, and the coalition for change, which supported Tshisekedi’s candidacy.
The elections that swept Tshisekedi to power were marred by widespread irregularities and allegations by the country’s powerful clergy that another opposition candidate, Martin Fayulu, was the real winner.
Cameroon Protests US Interference During Nagy Visit
Top U.S. diplomat for Africa, Tibor Nagy, has arrived in Cameroon amid a protest against what pro-government groups call Nagy’s interference in Cameroon’s internal affairs.
Nagy and the European Union representative Federica Mogherini, had recently called on Cameroon to free opposition leader Maurice Kamto and a hundred fifty of his supporters, detained since January for taking part in anti-government demonstrations.
They also urged Cameroon authorities to work harder to stop the violence in its western, Anglophone separatist regions.
Coordinator for Monday’s protest, Lilian Koulou Engoulou, says the demonstrators want Nagy to hear the and take their message back to Washington.
Kamto and his supporters are being tried in military courts for charges that include rebellion and could face the death penalty.
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