Weekly Economic Index, Ethiopia’s renaissance dam, Algeria’s cancels presidential election.

Weekly Economic Index, Ethiopia’s renaissance dam, Algeria’s cancels presidential election. VA: MID-WEEK UPDATE [Facebook]( [Twitter]( [LinkedIn]( mailto:your@email.com [Email](mailto:your@email.com) Muslims gather for Eid prayer in Casablanca, Morocco Photo By: @yoriyas Business Weekly Economic Index: May recorded the biggest oil loss in 6 months, Nigeria to sign AfCFTA. This is the Ventures Africa Weekly Economic Index, for the [week ending May 31st 2019](. This economic index gives you a glimpse into recent activities in Nigeria’s economy as well as changes and prices that could affect the economy. Eritrea finally out of US doghouse. In a move that carries great significance for the country’s future, [Eritrea has been removed]( from the United States’ terror watch list. This list comprises of nations believed by the US State Department to be uncooperative in the global fight against terrorism. Eritrea has been on the list since 2008, spiralling into the start of lengthy UN sanctions for allegations of providing support for Somali-based al-Shaabab. Sudan’s military government seeks to gag the press amidst ongoing protests in Khartoum. Sudan’s military has shut down Al Jazeera’s offices in Khartoum and [banned its journalists]( from reporting amidst the ongoing sit-in. According to the organization’s office director, the reason for the shut down was not given, security officers simply arrived at the organization to inform them of the military’s decision to close the media organization. Burundi’s application to join SADC rejected over political instability. Burundi’s request to join the Southern African Development Council has been rejected over concerns of [internal political instability]( in the country, coupled with its unsettled relationship with Rwanda. The application which was filed in 2017 had been put on hold by the bloc’s Council of Ministers after an initial assessment by the Inter-State Politics and Diplomacy Committee showed Burundi was politically unstable. South Africa becomes the third African country to achieve gender balance in its ministerial cabinet. Ramaphosa made some key changes to the new cabinet; made a reduction from 36 to 28 portfolios, [balance in gender representation]( appointed a set of younger leaders and a critical drop of old ministers from the previous tenure accused of graft.The new administration, which some describe as a “clean up” for the African country has welcomed a set of fresh reforms, which is expected to be free from corruption and any form of incompetence. Ethiopia’s renaissance dam dream could be stalled by new Nile Basin director. Ethiopia has marched on in its quest to finish the great dam project, [propelled by the general nonchalance]( of other members of the Nile Basin towards Egypt’s landlord-like grip on the River Nile. This situation has allowed Ethiopia to ignore Egypt’s call for inclusive deliberations about the project. $1.2 billion pledged to rebuild Mozambique in the aftermath of devastating tropical cyclones. According to a Post Disaster Needs Assessment conducted by the [Government of Mozambique]( in partnership with the UN, the European Union, the World Bank and the African Development Bank, Mozambique needs $3.2 billion for post-cyclone recovery and reconstruction in the social, productive, and infrastructure sectors in areas affected by the cyclones. Rwanda is leading the STEM charge on the continent. Coupled with a vibrant economy, one globally regarded as the fastest-rising in Africa, Rwanda is also gaining a reputation for leading the STEM charge on the continent.Visiting Rwanda under a student-led community service initiative, Project Rwanda, in its seventh consignment, [to offer a two-week training]( program in primary schools, one of the students, Andrew Edward, sent a hopeful tweet to the Rwandan president. Algeria’s constitutional council cancels July presidential vote as protests continue. In a statement released at the weekend, the council cited a lack of candidates as a reason for [scrapping the scheduled vote](. It said that it rejected “the candidates’ applications” and subsequently declared “the impossibility of holding presidential elections on July 4” which was meant to replace the ousted Abdelaziz Bouteflika. NGO cluster working to depopulate slums in Africa. The United Nations Human Settlement Programme (UN-Habitat) and Habitat for Humanity, an international charity fighting global poverty housing, have joined forces towards [reducing slums in Africa](. The collaboration will cover policy formation, awareness creation and project implementation. Social Media – Instagram The UN honours its late secretary general, Kofi Annan - [View here]( Chimamanda Ngozi Adichie addresses Yale University 's graduating class - [View here]( We’d love to hear your thoughts and comments. Please drop us a note at hello@ventures-africa.com. We’re active on [Facebook]( and [Twitter]( as well throughout the day with more stories. Like us on [Facebook]( and follow us on [Twitter](. 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