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The calls for of servicing money owed, largely to China, are weighing closely on Kenya’s financial system. The shilling dropped once more in Monday buying and selling and the central financial institution reported that international alternate reserves have plunged by $899 million over the past three months. Analysts say past the tons of of hundreds of thousands of {dollars} Kenya is utilizing to repay loans to China, the vacation season can also be growing the demand for {dollars}. All of it places added stress on the shilling, which closed at 112.83 to the greenback, a harmful drop of greater than 10% since final yr. (THE STANDARD)
The Excessive Court docket within the Ghanaian capital Accra has adjourned the lawsuit introduced by civil society teams in opposition to the federal government to halt Chinese language bauxite mining within the Atewa Forest Vary. The court docket will resume the case on February eighth subsequent yr and must choose whether or not the federal government ought to enable Chinese language mining firms to prospect within the nature reserve as a part of the $2 billion resources-for-infrastructure signed in 2018. (GHANA NEWS)
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