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Published 4th December 2015

Vol 56 No 24


Sierra Leone

Stalemate over Koidu diamonds as economy sinks

A valuer counts diamonds at the government diamond export office in Freetown. Pic by Ben Curtis/AP/Press Association Images
A valuer counts diamonds at the government diamond export office in Freetown. Pic by Ben Curtis/AP/Press Association Images

After inconclusive talks in London, the government is at odds with the mine- owners and their bankers as it tries to keep the operation alive

Britain's Standard Chartered Bank is caught in the middle of an increasingly bitter feud between the Sierra Leone government and the heavily-indebted Octéa Limited, owner of the country’s biggest diamond mine at Koidu. After tense and unsuccessful talks in London starting on 16 November, Freetown officials called on Octéa, which owes about US$150 million in total, to impose a standstill at Koidu for 90 days, pending a detailed technical and financial assessment. Mining operations continue for now but officials said they feared that short-term actions by the company could endanger the mine's future.

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Nyusi's nightmare

The new President is still struggling for mastery of the state, while a legacy of chronic corruption hangs over the latest IMF deal

As the austere consequences of an International Monetary Fund emergency loan sink into public consciousness, Filipe Nyusi is still struggling to gain the control that election as President...


How real the zeal?

The President has taken some notable scalps over corruption but if his campaign persists, he will face organised high-level resistance

Four weeks into President John Pombe Magufuli's new government, many are still scratching their heads. Some see him as a compromise candidate who is dependent on and subservient...



BLUE LINES
THE INSIDE VIEW

An early winner in the diplomatic gamesmanship around the COP21 Climate Change Conference in Paris, where 150 world leaders gathered this week, is China. Environmental degradation and fossil fuel pollution have become physical dangers for hundreds of millions of people in its mega-cities but China is now producing over half the world's solar panels and is said to be nearing a breakthrough in the production and storage of solar electricity.

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An early winner in the diplomatic gamesmanship around the COP21 Climate Change Conference in Paris, where 150 world leaders gathered this week, is China. Environmental degradation and fossil fuel pollution have become physical dangers for hundreds of millions of people in its mega-cities but China is now producing over half the world's solar panels and is said to be nearing a breakthrough in the production and storage of solar electricity.

The next stage is establishing a new generation of green power stations in the world's sunniest continent: Africa. China also produces about 40% of the world's electrically powered high-speed trains and 20% of its wind turbines.

Hours after President Xi Jinping addressed the Paris conference on 30 November, he flew to Zimbabwe for glad-handing and on to South Africa for the Forum on China-Africa Cooperation. Since Beijing's economic rebalancing has depressed world commodity prices and shaken several African countries, Xi wanted to reassure his audience. Accordingly, its delegation to Johannesburg has come with funding for new transport and power projects. A week later, China will take over the chair of the Group of 20. Although it is still not a member of the World Trade Organisation, Beijing wants to use its G-20 leadership to push for a conclusion to the Doha round of trade reform negotiations – in the process having a jab at those rich countries and their agricultural subsidies which suppress the price of African farm products.

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Chinese inherit law suit

While villagers sue a major mine over human rights abuses, all the country’s iron ore mines remain out of action

Bankrupt iron-ore mining company African Minerals Limited is being sued for millions of dollars by 142 Sierra Leonean villagers in the High Court in London claiming human rights...


Cyril looks to his heartland

Everything seemed to be going the President’s way in the succession battle but then his deputy rallied his troops

Deputy President Cyril Ramaphosa's prospects of succeeding President Jacob Zuma in 2019 – in steep decline recently – changed for the better last week with his endorsement by...


Attack targets peace deal

The Bamako hotel attack is meant to hinder the Algiers accord, which recently showed signs of gaining greater acceptance

The days since Islamist gunmen attacked the Radisson Blu hotel in Bamako on 20 November, killing 20 civilians, have confirmed both the scale and complexity of the security...


Pepsi's political partner

The drinks company's lucky new 'indigenisation' partner just happens to be married to Robert Mugabe's niece

PepsiCo Incorporated has appointed Adam Molai, a businessman married to President Robert Mugabe's niece, Sandra Molai, as its partner for a new bottling plant in Zimbabwe, Africa Confidential...


The Brits are coming

Curiosity is growing as to why business people close to the Conservative Party are so interested in such an unstable part of the world

Somalia has long been seen as too risky for even the hardiest foreign investors but now a new band of British money-men, adventurers and politicians is setting up...



Pointers

The return of OPL 245

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Hage's big tent

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Base motives

As China deepens its commitment to a base in Djibouti, a London court has heard how illicit Chinese funds may have indirectly helped President Ismaïl Omar Guelleh win...