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15, December 2023

Cocoa price surge boosts incomes of Cameroon’s farmers ⁰

A sharp rise in the price paid for cocoa beans has boosted the incomes of farmers in Cameroon as top global producers Ivory Coast and Ghana suffer a supply shortage this season.

Several farmers told Reuters that they have been selling their beans at prices ranging from 2,000 to 2,200 CFA francs ($3.67) per kilogram, up from 750 to 1,290 CFA francs/kg last season.

New York cocoa futures rose to a 46-year high on Monday as crop problems in West Africa tightened global supplies. Ghana cocoa port arrivals are down around 50% year-on-year so far this season, while Ivory Coast’s are down more than 35%.

Cameroon is not expecting a similar drop in production. It targets around 300,000 metric tons of cocoa annually, making it the world’s fourth biggest producer in recent years.

“I have made much more money from cocoa sales, which has enabled me to clear an overdue loan,” said Susan Itoe, a cocoa farmer near Konye in the South West region.

Cameroon’s guaranteed cocoa farmgate price for the 2023/24 season was set at 1,500 CFA francs/kg. But the actual prices paid to farmers are flexible depending on the market and have risen even higher.

In Ivory Coast and Ghana, by contrast, prices are fixed for the entire season.

“Cameroon is benefiting from the malaise of Ghana and Ivory Coast following flooding and cocoa swollen shoot virus,” said Epie Promise Ngolepie, a cocoa consultant at agri-tech company Help Farmers Cameroon, who told Reuters that prices were expected to fall by 2025 as production picks up again in West Africa.

The high cost of inputs and high cost of transporting the produce due to bad roads were, however, eroding the gains, he added.

“Price has always been our problem… So this increase is well appreciated especially as we have improved the quality of our cocoa,” said Esapa Patrick Enyong, president of the South West Farmers’ Cooperative Union, which groups thousands of farmers in the country’s largest cocoa production basin.

Cameroon was recently added to Annex ‘C’ of the International Cocoa Agreement, which places it on the list of countries producing fine flavoured cocoa.

The liberalisation of the country’s cocoa trade since the 1990s has also contributed to the higher prices, said Michael Ndoping, General Manager of the National Cocoa and Coffee Board (NCCB).

“All these factors put together make the cocoa trade these days very encouraging and we hope this will last for some time,” Ndoping said.

Source: Reuters

15, December 2023

UK: Prince Harry wins 15 claims in phone-hacking case against Mirror publisher ⁰

Prince Harry has won 15 claims in his case accusing Mirror Group Newspapers of unlawfully gathering information for stories published about him.

A judge has ruled in his favour on almost half of the sample of 33 stories used in his claims of phone hacking and other methods.

A High Court ruling found evidence of “widespread and habitual” use of phone hacking at the Mirror newspapers.

Prince Harry described it as a “great day for truth” and accountability.

He was awarded £140,600 in damages and in a statement read out on the Duke of Sussex’s behalf outside the High Court, his lawyer David Sherborne called the ruling “vindicating and affirming”.

“This case is not just about hacking – it is about a systemic practice of unlawful and appalling behaviour, followed by cover ups and destruction of evidence, the shocking scale of which can only be revealed through these proceedings,” he said.

“I’ve been told that slaying dragons will get you burned. But in light of today’s victory and the importance of doing what is needed for a free and honest press – it’s a worthwhile price to pay,” Prince Harry’s statement said.

He also called on the police and prosecuting authorities to “investigate bringing charges against the company and those who have broken the law”.

The stakes have also been high for the Mirror newspapers – the Daily Mirror, Sunday Mirror and People – with estimates that £100m has already been spent on damages and legal costs over previous hacking cases.

Mr Justice Fancourt ruled that unlawful information gathering had been “widespread” at all three of the Mirror titles and had become “habitual”.

In response a Mirror Group Newspapers spokeswoman said: “We welcome today’s judgment that gives the business the necessary clarity to move forward from events that took place many years ago.

“Where historical wrongdoing took place, we apologise unreservedly, have taken full responsibility and paid appropriate compensation.”

The landmark ruling follows Prince Harry’s appearance at the High Court in June, where he became the first senior royal of modern times to give such extensive evidence in court in person.

Over two days, he was grilled about his claims that the group’s newspapers had published many stories about him, over several years, based on phone hacking and other unlawful ways of obtaining information.

Source: BBC

13, December 2023

Nearly 3 million people face food insecurity in Cameroon ⁰

Over 2.9 million people in Cameroon face food insecurity due to conflicts and poor production, according to a report published by the country’s Ministry of Agriculture and Rural Development.

For the October-December 2023 period, 2,940,807 people, or 10.6 percent of the population, in Cameroon are in “acute food and nutrition insecurity,” Minister of Agriculture and Rural Development Gabriel Mbairobe told a press briefing Monday night to officially present the report.

He said 10 of Cameroon’s 58 administrative divisions are facing food insecurity, mainly due to climate change and insecurity in the Anglophone regions of Northwest and Southwest, where an armed separatist insurgency is in progress, and in the Far North region, where the Boko Haram terror group continues to attack civilians and soldiers.

The report estimates that the number of people facing food and nutrition insecurity will drop to 2.5 million between June and August next year.

The government will adopt new policies, such as enhancing import substitution and providing support to small-scale farmers, who account for 80 percent of food production, to alleviate the food crisis, Mbairobe said.

Source: Xinhuanet

13, December 2023

Developing Countries Paid Record $443.5 Billion on Public Debt in 2022 ⁰

Amid the biggest surge in global interest rates in four decades, developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022, the World Bank’s latest International Debt Report shows. The increase in costs shifted scarce resources away from critical needs such as health, education, and the environment.

Debt-service payments—which include principal and interest—increased by 5 percent over the previous year for all developing countries. The 75 countries eligible to borrow from the World Bank’s International Development Association (IDA)—which supports the poorest countries—paid a record $88.9 billion in debt-servicing costs in 2022. Over the past decade, interest payments by these countries have quadrupled, to an all-time high of $23.6 billion in 2022. Overall debt-servicing costs for the 24 poorest countries are expected to balloon in 2023 and 2024—by as much as 39 percent, the report finds.

“Record debt levels and high interest rates have set many countries on a path to crisis,” said Indermit Gill, the World Bank Group’s Chief Economist and Senior Vice President. ‘Every quarter that interest rates stay high results in more developing countries becoming distressed—and facing the difficult choice of servicing their public debts or investing in public health, education, and infrastructure. The situation warrants quick and coordinated action by debtor governments, private and official creditors, and multilateral financial institutions—more transparency, better debt sustainability tools, and swifter restructuring arrangements. The alternative is another lost decade.’’

Surging interest rates have intensified debt vulnerabilities in all developing countries. In the past three years alone, there have been 18 sovereign defaults in 10 developing countries—greater than the number recorded in all of the previous two decades. Today, about 60 percent of low-income countries are at high risk of debt distress or already in it.

Interest payments consume an increasingly large share of low-income countries’ export, the report finds. More than a third of their external debt, moreover, involves variable interest rates that could rise suddenly. Many of these countries face an additional burden: the accumulated principal, interest, and fees they incurred for the privilege of debt-service suspension under the G-20’s Debt Service Suspension Initiative (DSSI). The stronger US dollar is adding to their difficulties, making it even more expensive for countries to make payments. Under the circumstances, a further rise in interest rates or a sharp drop in export earnings could push them over the edge.

As debt-servicing costs have climbed, new financing options for developing countries have dwindled. In 2022, new external loan commitments to public and publicly guaranteed entities in these countries dropped by 23% to $371 billion—the lowest level in a decade. Private creditors largely abstained from developing countries, receiving $185 billion more in principal repayments than they disbursed in loans.

That marked the first time since 2015 that private creditors have received more funds than they put into developing countries. New bonds issued by all developing countries in international markets dropped by more than half from 2021 to 2022, and issuances by low-income countries fell by more than three-quarters. New bond issuance by IDA-eligible countries fell by more than three-quarters to US$3.1 billion.

With financing from private creditors drying up, the World Bank and other multilateral development banks stepped in to help close the gap. Multilateral creditors provided $115 billion in new low-cost financing for developing countries in 2022, nearly half of which came from the World Bank. Through IDA, the World Bank provided $16.9 billion more in new financing for these countries than it received in principal repayments—nearly three times the comparable number a decade ago. In addition, the World Bank disbursed $6.1 billion in grants to these countries, three times the amount in 2012.

The latest International Debt Report marks the publication’s 50th anniversary. It highlights key insights from the World Bank’s International Debt Statistics database—the most comprehensive and transparent source of external debt data of developing countries. The new edition also features an expanded analytical framework, one that goes beyond the latest data to examine near-term outlook for debt as well. It also includes an overview of the Bank’s debt-related activities and an analysis of emerging trends in debt management and transparency.

“Knowing what a country owes and to whom is essential for better debt management and sustainability,” said Haishan Fu, Chief Statistician of the World Bank and Director of the World Bank’s Development Data Group. “The first step in avoiding a crisis is having a clear picture of the challenge. And when problems arise, clear data can guide debt restructuring efforts to get a country back on track towards economic stability and growth. Debt transparency is the key to sustainable public borrowing and accountable, rules-based lending practices which are so vital to ending poverty on a livable planet.”

The report notes that IDA-eligible countries have spent the last decade adding to their debt at a pace that exceeds their economic growth—a red flag for their prospects in the coming years. In 2022, the combined external debt stock of IDA-eligible countries hit a record US$1.1 trillion—more than double the 2012 level. From 2012 through 2022, IDA-eligible countries increased their external debt by 134%, outstripping the 53% increase they achieved in their gross national income (GNI).

13, December 2023

Criminal Biya Francophone officials must be brought to justice ⁰

Southern Cameroons top official says criminal French Cameroun authorities must be brought to trial for their atrocities against the Ambazonian nation, stressing that the Ambazonia Interim Government is seriously following up on the matter at the International Criminal Court.

Comrade Dabney Yerima, Vice President of the Ambazonia Interim Government, made the remarks on Tuesday during a telephone conversation with some Ground Zero commanders in Esu in the Northern Zone of Southern Cameroons.

Yerima stressed that criminal officials of the Biya French Cameroun regime must be tried and that the Southern Cameroons Department of Foreign Affairs headed by Professor Carlson Anyangwe has placed particular focus on the issue.

The top Southern Cameroons official went on to sharply criticize some Southern Cameroons traditional rulers for their refusal to cut off ties with the Yaoundé regime and expel Francophone civil administrators from ancestral lands.

“The Southern Cameroons liberation struggle is currently the root cause of unity among all Southern Cameroonians. Southern Cameroonians particularly those in the West are expected to alter their behavior, and put their words into actions,” Dabney Yerima stated.

Yaoundé has been waging a genocidal war after the people of Southern Cameroons declared an independent state known as the Federal Republic of Ambazonia seven years ago. The Biya Francophone regime has killed at least 10,000people, including more than 5000 children and 4,000 women.

By Toto Roland Motuba

13, December 2023

Pope Francis has chosen his tomb — in Rome, not Vatican ⁰

Pope Francis has chosen to be buried not in St Peter’s Basilica alongside his immediate predecessors but in a basilica in Rome, he revealed in an interview broadcast on Wednesday.

“The place is already prepared. I want to be buried in Santa Maria Maggiore,” the pontiff, who turns 87 this weekend, told Mexican broadcaster Televisa’s N+ streaming service.

In the same interview, he revealed he planned to visit Belgium in 2024, and also hoped to visit his native Argentina and Polynesia.

Francis’s decision means he would become the first pope to be buried outside the Vatican for more than 100 years.

The last to eschew a tomb in St Peter’s was Leo XIII, who died in 1903. His remains lie in the basilica of St John the Lateran in Rome.

Santa Maria Maggiore is one of the four papal basilicas in Rome, and one with which Francis said he felt a “special connection”.

He would often go there on a Sunday while visiting Rome before becoming pope. Since his election in 2013, he prays there before and after taking a trip, and has also prayed there after undergoing surgery.

Seven popes have previously been laid to rest in the basilica, according to the Vatican News official media outlet.

The pontiff has suffered from increasing health issues in recent years, and was forced to cancel a visit to COP28 climate talks in Dubai due to bronchitis.

In his interview recorded on Tuesday, in which he appeared much better, he paid tribute to his predecessor Benedict XVI for having had “the courage” to step down when his health was failing him.

The German pontiff in 2013 became the first pope since the Middle Ages to resign.

Benedict died on December 31, 2022, and after a funeral in St Peter’s Basilica in the Vatican — led by Francis — his body was buried in the tomb under the church.

It was the same tomb that held former pope John Paul II’s body before it was moved for his beatification in 2011.

Francis has said he would be open to following Benedict’s example if he could no longer perform his duties, but has said stepping down should not become a “normal thing” for popes.

Source: AFP

11, December 2023

COP28: UN climate talks in jeopardy in fossil fuel backlash ⁰

The UN climate talks in Dubai could be in jeopardy after some nations reacted furiously to a draft deal on fossil fuels they call “weak”.

The draft removed language included in a previous text suggesting that fossil fuels could be “phased out”.

All 198 countries at the summit must agree or there is no deal.

Humans burning fossil fuels is driving global warming, risking millions of lives, but governments have never agreed how or when to stop using them.

A representative for the European Union called the draft “unacceptable” and said the bloc could walk away.

“We can’t accept the text,” said minister Eamon Ryan, a negotiator for the EU and Ireland’s environment minister. But he added that the collapse of the talks is “not the outcome the world needs”.

Politicians, including from nations on the frontline of climate change, have been in Dubai, United Arab Emirates, to discuss the growing problem in a year that is set to be the warmest on record.

The question of what to do about greenhouse gas emissions from burning oil, coal and gas have dominated the talks.

Expectations were low that the controversial COP28 President Sultan al-Jaber could deliver a strong deal on fossil fuels because he is also CEO of the Abu Dhabi oil giant Adnoc.

But countries that want a rapid end to fossil fuels had grown optimistic as Mr Jaber appeared to say he backed a “phase out” of fossil fuels.

A draft text published on Saturday confirmed that one option for the talks outcome was a “phase out of fossil fuels in line with best available science”.

Questions remained over when this would happen and whether it would rely on the use of expensive and experimental technology to store the carbon dioxide released when fossil fuels are burned.

On Monday, another draft was published that deleted mentions of “phase out”. Instead it said nations should “reduce consumption and production of fossil fuels in a just, orderly and equitable manner”.

While the changes in language can seem small, slight differences in UN documents can significantly change what countries are obliged to do.

Many nations appear to have had just an hour to look at the text before a meeting of all governments was called.

Source: BBC

11, December 2023

Nigeria superstar Victor Osimhen crowned 2023 CAF Player of the Year ⁰

Nigeria striker Victor Osimhen has been named the 2023 CAF Player of the Year following his heroics for his country and club.

The Super Eagles superstar claimed the CAF gong at Monday’s awards ceremony in Marrakech after his goal glut inspired Napoli’s league title triumph last term.

Osimhen saw off challenges from Morocco full-back Achraf Hakimi and Egypt striker Mohammed Salah to land African football’s biggest individual prize.

Napoli hot-shot won the coveted prize after firing his club to a first Serie A title in over three decades.

The honour capped a remarkable year for the powerful front man who also fired Nigeria to the 2023 Africa Cup of Nations with 10 goals to finish as the top scorer of the qualifiers.

The Italy-based striker plundered 27 goals across all fronts as the Napoli entertainers lit up Italian football.

In doing so, the 24-year-old became the first Napoli player to finish top scorer in Italian football since Diego Maradona in 1987/88.

Osimhen is now the first Nigerian winner of the men’s award since Kanu Nwankwo in 1999 after another prolific campaign.

His goals propelled Napoli to their first Serie A crown since the days of Maradona – a triumph few predicted last summer.

And with a historic title under his belt, Osimhen’s victory was just reward after a season that demonstrated his development into one of Europe’s most fearsome No.9s.

Source: CAFonline

11, December 2023

Ukraine war: Zelensky heads to US in bid to rescue $60bn military aid ⁰

Ukrainian President Volodymyr Zelensky has arrived in Washington DC to try to rescue an imperilled US defence package to Kyiv worth billions of dollars.

The aid has become embroiled in US domestic, partisan politics, with Republicans demanding concessions on border funding in exchange.

It marks Mr Zelensky’s third visit to the US since Russia’s 2022 invasion.

The week is a crucial one for Ukraine, with the EU also deciding whether to open accession talks to the bloc.

Hungarian Prime Minister Viktor Orban has signalled that he opposes the move, and has the power to block such a decision.

Mr Orban and Mr Zelensky had an apparently intense conversation when they met on Sunday at the inauguration of Argentina’s new president. The details of their discussion have not been revealed.

The Ukrainian president will arrive in Washington on Monday. As well as holding meetings with US President Joe Biden and Republican House Speaker Mike Johnson, he will address the Senate on Tuesday morning.

The White House said in a statement on Sunday that Mr Zelensky’s visit was meant “to underscore the United States’ unshakeable commitment to supporting the people of Ukraine as they defend themselves against Russia’s brutal invasion”.

The US military aid package, worth $60bn (£47.9bn; €55bn), is currently stalled in Congress, facing pushback from Republicans who argue that more money should be going to domestic security at the US-Mexico border.

A vote in the Senate last week saw a package, which included the funding but no border measures, blocked by Republicans.

In addition to more funds for border enforcement, Republicans are seeking reforms to the way in which undocumented migrants seeking political asylum in the US are processed.

“We’ve got to be able to have a change in policy on this,” Senator James Lankford of Oklahoma, one of the lead Republican negotiators, said in an interview on Sunday.

“All we’re trying to do is to say what tools are needed to be able to get this back in control, so we don’t have the chaos on our southern border.”

Mr Lankford said that Americans don’t want US national security on the border to be ignored while Congress focuses on Ukraine’s interests.

Although the Biden administration has expressed a willingness to accept some asylum policy changes, such concessions risk angering liberal lawmakers and further dividing a party that has already been fractured by the president’s support of Israel in the Gaza War.

“We are concerned about reports of harmful changes to our asylum system that will potentially deny lifesaving humanitarian protection for vulnerable people, including children, and fail to deliver any meaningful improvement to the situation at the border,” a group of 11 Democratic senators wrote in a statement issued on 30 November.

Democratic Senator Chris Murphy of Connecticut, an ally of Mr Biden’s, has said that the White House is becoming “more engaged” in the ongoing negotiations, seeking a comprehensive funding agreement that includes money for Ukraine before Congress leaves for its holiday recess on Friday.

Even if the Senate can strike a deal, however, the package would have to also be approved by the House of Representatives, where opposition to more Ukraine aid is even more intense.

Mr Biden has been urging lawmakers to approve the funds. In an impassioned televised address last Wednesday, he said the package could not wait and warned that Russia would not stop at victory over Ukraine.

Though Ukraine fended off Russia’s original attack, its much-vaunted counter-attack this year has stalled and there have been signs of fatigue from some of the Western nations which have stepped up to support it militarily.

After the Senate vote, Ukrainian First Lady Olena Zelenska told the BBC’s Sunday with Laura Kuenssberg programme that Ukrainians would be “in mortal danger” if Western countries did not continue their support.

“We really need the help. In simple words, we cannot get tired of this situation, because if we do, we die,” she said.

“And if the world gets tired, they will simply let us die.”

Source: BBC

11, December 2023

Fuel shortages possible in Cameroon throughout December ⁰

As of Dec. 11, fuel shortages may persist nationwide through at least mid-December due to supply disruptions attributed to stranded cargo ships.

The scarcity has prompted increased demand and price hikes at available fuel stations, including Yaoundé, Douala, and Bafoussam, among other affected locations.

While officials announced that additional means had been deployed and forecasted a return to normalcy by Dec. 12, panic buying may prolong the scarcity.

Increased demand at available fuel stations may prompt congestion on nearby roads. Fuel shortages may affect business operations and transport services. Related protests remain possible, notably if fuel scarcity persists.

Source: Crisis 24