Connect with us

Musings From Abroad

COVID-19: WHO confirms global decline in infections, fatalities

Published

on

The World Health Organisation (WHO) has officially confirmed that COVID-19 cases and fatalities are declining globally.

The global body, which disclosed this on its official Facebook account, however, insisted that it is “far too early to declare victory” over the pandemic.

In a video, the director-general of WHO, Tedros Ghebreyesus, said some countries are experiencing a decline in infections and fatalities, and have been able to ease restrictions with low rates of hospitalisation.

“It’s too early to declare victory over COVID-19. Many countries are facing high rates of hospitalization and death. With high transmission, the threat of a new, more dangerous variant remains real. We urge all people to exercise caution and all governments to stay the course”-Dr Tedros Adhanom Ghebreyesus
https://fb.watch/bCVyiIXXV7/

WHO also noted that the Omicron variant has been responsible for a significant increase in the number of hospitalisations and deaths.

It is the first time the global organisation has confirmed a reduction in infections since the declaration of the 4th wave of the pandemic in 2021.

This as Nigeria recorded only two cases on Monday, the lowest daily infections since the outbreak of the coronavirus pandemic in 2020.

To this effect, the former SSG has declared his support for Prince Dotun Babayemi who has been chosen by the party elders.

Accordingly, he appealed to party members across the state, especially his supporters, to rally round Prince Babayemi so that the party could triumph at the coming polls.

Musings From Abroad

UAE’s IRH to consider stake in Zambia’s Lubambe copper mine

Published

on

A division of the International Holding Company of Abu Dhabi, International Resources Holding (IRH), has announced that it plans to submit a proposal for a share in Zambia’s Lubambe Copper Mine.

 

The deal has opened up more potential to profit from Africa’s second-largest copper producer, according to IRH, which just acquired a 51% stake in Mopani Copper Mines in Zambia.

 

 

Even after Chinese firm JCHX Mining agreed to buy the stake, it was reported on March 22 quoting sources, indicating that IRH, a division of the most valuable company in Abu Dhabi, is interested in purchasing an 80% stake in Lubambe held by EMR Capital.

 

 

“IRH’s commitment (at Mopani), has opened doors for additional investment opportunities in Zambia, including an intention to bid for a stake in the Lubambe Copper Mine,” the company said.

 

Due to the company’s interest in Lubambe, which may be among Zambia’s biggest copper mines, a bidding battle between Shanghai-listed JCHX, a mine maintenance and contracting company, and itself may result.

 

Wealthy oil companies from Saudi Arabia and the United Arab Emirates have recently begun to follow China’s lead and engage in African businesses to acquire resources to diversify their economies and capitalize on the move to electric vehicles (EVs). In addition to making bids for mining projects, IRH stated that it was actively investigating a range of investment prospects.

 

“In the forthcoming years, our goal is to seek diversification opportunities beyond copper… (with) targeted investments in other pivotal energy transition minerals, such as cobalt, nickel, rare earth elements, manganese, graphite, and the 3T minerals – tin, tungsten, and tantalum,” it said.

 

The Zambian government currently plans to increase copper production from approximately 850,000 metric tonnes to 3 million metric tonnes annually by 2032.

Continue Reading

Musings From Abroad

China, Zambia’s major creditor, cooperating on debt rework— Official

Published

on

A spokesperson of Zambia’s foreign ministry has stated that one of its major creditors, China, has remained supportive of Zambia’s debt restructuring.

The diplomat did not, however, disclose whether China approved of a planned agreement the country in southern Africa made with foreign bondholders.

On Monday, Zambia and the bondholder group announced that they had come to a fresh understanding to restructure $3 billion in foreign notes. The proposal was given the go-ahead by Zambia’s formal creditors, the largest of which is China.

On Monday, Zambia announced that it has reached a deal with a group of private creditors on the restructuring of $3 billion of its foreign notes, which is a noteworthy achievement that brings the country closer to ending its lengthy debt restructuring.

Being the first nation in Africa to miss payments on its foreign debt during the Covid-19 outbreak, they have expressed a strong desire for the debt to be restructured. Unfortunately, the protracted delays in the process have strained the local financial systems, impeded desperately needed investments, and delayed economic progress.

Zambia defaulted more than three years ago and its debt rework process has hit many obstacles, including in November when the official creditors rejected a previous bond deal because it did not offer comparable debt relief to theirs.

“China, as co-chair of the Zambian Debt Committee, has made concerted efforts with all parties concerned to promote significant progress in the disposal of Zambia’s debt,” Lin Jian, a spokesperson for China’s Ministry of Foreign Affairs, said in a regular press conference.

“China will also continue to coordinate and cooperate with all parties concerned to steadily advance the work related to Zambia’s debt disposal,” he said when asked for China’s response to the latest bondholder deal.

Continue Reading

EDITOR’S PICK

Strictly Personal36 mins ago

Off we go again with public shows, humbug and clowning, By Jenerali Uliwengu

The potential contestants in the approaching elections are already sizing themselves up and assessing their chances of fooling their people...

Musings From Abroad1 hour ago

UAE’s IRH to consider stake in Zambia’s Lubambe copper mine

A division of the International Holding Company of Abu Dhabi, International Resources Holding (IRH), has announced that it plans to...

Sports2 hours ago

Paris Olympics: Nigeria’s D’Tigress in ‘group of death’, to battle Australia, France, Canada

Nigeria’s women national basketball team, D’Tigress, have been drawn in what many term the group of death after they were...

Tech2 hours ago

Egyptian AI-powered ed-tech startup Sprints raises $3m to scale up platform

Egyptian AI-powered ed-tech startup, Sprints, has announced raising $3 million bridge round of funding to help it scale up its...

Culture2 hours ago

Actress Yvonne Nelson lambasts Ghanaian President Akufo-Addo, labels his regime ‘8 years of lies’

Ghanaian actress and filmmaker, Yvonne Nelson, has lambasted President Nana Akufo-Addo over a viral video from the Neo-natal Intensive Care...

Metro2 hours ago

Zambia, Botswana sign cooperation instruments to enhance trade

Zambia and close neighbours, Botswana, have signed 10 instruments of cooperation aimed at enhancing trade relations between the two countries....

VenturesNow3 hours ago

Kenya, Uganda settle oil import dispute

In an effort to patch things up between the two neighbours, Kenya will permit Uganda’s landlocked state oil company to...

VenturesNow11 hours ago

No plan to increase taxes, Nigeria’s revenue chief says

The head of Nigeria’s revenue agency, Zacch Adedeji, has reaffirmed that there is no plan for the introduction of new...

Metro11 hours ago

Tinubu vows justice for slain soldiers, bestows national honours on them during burial

President Bola Tinubu has once again reiterated that killers of 17 soldiers of the Nigerian Army in Delta State on...

VenturesNow1 day ago

Nigeria’s central bank raises interest rate to 24.75% amid soaring inflation

Governor Olayemi Cardoso of Nigeria’s central bank has announced that the bank has increased its monetary policy rate by 200...

Trending