AFCON starts this weekend

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Africa Headlines

AFCON starts this weekend – The 2023 (Yes, it’s the 2023) Africa Cup of Nations begins this weekend with the host Cote d’Ivoire playing Guinea Bissau. The Super Eagles of Nigeria will play their first game against Equitoria Guinea on Sunday. It is the 34^th edition of the biennial African association football tournament organised by Confederation of African Football (CAF). The reigning champions is Senegal and will be the fourth team to retain the cup and the first since Egypt won three in a row between 2006 and 2010 if it wins the competition. Tournament predictions by Opta put Senegal ahead of Cote d’Ivoire, Morocco, Algeria, Egypt, and Nigeria in that order. 24 teams are participating in this year’s edition in six different stadiums across the country – Amadou Gon Coulibaly in Korhogo, Stade de laPaix in Bouake, Charles Konan Banny Stadium in Yamoussoukro, Laurent Pokou Stadium in San Pedro, Felix Houphouet-Boigny Stadium, and Alassane Quattara Stadium, both in Abidjan. Nigeria is making its 19^th AFCON appearance, having been crowned champions three times in 1980, 1994, and 2013.

Burundi closes it borders with Rwanda – According the BBC reports, Burundi has closed its borders with Rwanda, accusing the government of Rwanda of sponsoring rebel attacks in the country. Last month, Red Tabara, a Burundian rebel group killed 20 people near the border with the Democratic Republic of Congo (DRC). The Rwandan government denies it supports the group and “regrets the unilateral decision by Burundi to close the border” between the two countries. This is not the first time Burundi has shut its border with Rwanda. It was closed for seven years from 2015 following political tensions and Covid – 19. Both countries were colonised by Belgium, and they are both landlocked. Burundi is surrounded by Rwanda to the north, Tanzania to the east and south, and DRC to the west, while Rwanda has borders with Tanzania, Burundi, and DRC.

Emerging Africa Capital redeems N1.6bn commercial paper – Investment Banking and Financial Services company, Emerging Africa Capital Limited, led by one of Africa’s investment titans Toyin Sanni, has revealed that it has successfully redeemed its Series 3 commercial paper of N1.655bn. Issued last July on the FMDQ exchange as part of its N15 billion commercial paper issuance, the 180 days instrument was issued at 13% and was oversubscribed by 125%. Series IV and V, issued in October 2023 was also oversubscribed by 106%, reflecting tremendous confidence in the management of the investment group. Speaking on the completion of the series, Executive Vice Chairman/Group Chief Executive Officer of Emerging Africa Capital Limited, Toyin Sanni, expressed satisfaction and promises the group’s commitment to excellence and transparency to maintaining investors’ confidence in the group.

Comoros President Assoumani seeks fourth term in January 13 election – Comoros, one of the most obscure and poorest countries, with per capita income of US $700, will go to the polls on Sunday. The election is expected to deliver a fourth term to President Azali Assoumani, a former military officer accused by opponents of muscling competition. The nearly 1 million populated country, comprising three Islands – Anjouan, Grand Comore, and Moheli, is situated in the Southeastern coast of Africa, to the east of Mozambique and northwest of Madagascar. The president Assoumani, 65, who also held rotating chairperson role of the African Union in the last year, will face five competitors. The last election was in 2019. The country was colonised by the French and got its independence in 1975. The earlier vote followed constitutional reforms that removed a requirement that the presidency rotate among the country’s three main islands every five years, and thus allowed Assoumani to seek re-election. Under the new system, Assoumani, who first took power in a 1999 coup before stepping down in 2002 and then winning election 14 years later, would be required to step down in 2029.