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Ramadan: Currency value depreciates as food prices hit roof in Egypt

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As the annual Ramadan fast of the Muslim faith kicks in, there has been a surge in the price of food which has made the local currency has lost 17% of its value.

A resident of Cairo, Mahmoud Khaled, told newsmen that “people’s joy in welcoming Ramadan is different this year as this is the second Ramadan after Covid-19. Yes, some prices are rising a bit and are different from other places, but people are shopping because they are happy that Ramadan is here and that the once-a-year season has arrived”.

Another resident, Dalia Amr, confirmed the increase in food prices.

“Yes, the prices might be higher but the people are shopping (for Ramadan goods) like every year because they like to do something new and be happy as they welcome Ramadan”,

Egypt is a leading importer of wheat from Ukraine and Russia. The conflict between the two countries is affecting supplies. Last month, africanewswatch.com reported an announcement by Egypt’s Prime Minister, Mostafa Madbouly, that the country will diversify its sources of wheat to avoid relying on what he described as “specific sources” for this product.

As part of an effort to resuscitate the economy the Egyptian government has also started talks at the International Monetary Fund over a new assistance package, the third in six years.

Metro

Zambia: ‘Though I made mistakes, you can’t compare my tenure to Hichilema’s’ —Ex-president Lungu

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Former Zambian President, Edgar Lungu, has admitted that though he made mistakes during his reign as president from 2015 to 2021, there is no basis to compare his administration with that of incumbent President Hakainde Hichilema.

Lungu, who was responding to a write up by a foremost Zambian academic, Dr. Sishuwa’s titled “How President Hakainde Hichilema is using Lawfare to subvert democracy in Zambia,” where he made comparisons with Lungu’s era on his facebook page on Saturday, said while he did not dispute the existence of “Lawfare” in many jurisdictions, it was not a suitable and correct comparison to mirror his political leadership as President then to the current full scale authoritarian regime.

In the article, Sishuwa said Zambia experienced democratic backslide between 2011 and 2021 under the Patriotic Front with the deliberate use of legal mechanisms to weaken opposition parties.

“Hichilema has orchestrated an assault on human rights and democracy to the extent that he must be treated like an Edgar Lungu with a better Public Relations,” the academic had said.

But while reacting to the scathing criticism, Lungu fired back:

“Honestly, I find this observation and conclusion both unfair and quite inaccurate as he (the author) seeks to compare our moderate rule then to HH’s unapologetic lawfare regime of today.”

The ex-President expressed his shock and disappointment that Sishuwa likens him to Hichilema, adding that he takes great exception to this.

He therefore advised Sishuwa to resist the temptation of having to compare apples with oranges, as the two cannot be the same.

“Yes, I admit I had faults, but certainly not of this magnitude,” he concluded.

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‘Your sacrifices will not be in vain, you will smile soon,’ Tinubu assures Nigerians

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President Bola Ahmed Tinubu has, once again, assured Nigerians that the hardship and pains they have been made to go through as a result of his policies and reforms will not be in vain as they will have cause to smile sooner than they think.

Tinubu, who gave the assurance in his message to the Muslim faithful on the occasion of the 2024 Eid Al-Adha, said the citizens should see the religious celebration as a means of sacrifice, faith and obedience to the will of the Almighty.

In the statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, Tinubu urged the Muslim faithful to reflect on the essence of the occasion while he prayed that Allah accept their supplications and acts of obedience.

He emphasized that the sacrifices and great expectations of citizens will not come to nought.

“President Bola Tinubu celebrates with the Muslim Ummah on the joyous occasion of Eid-el-Kabir, an event that denotes sacrifice, faith, and obedience to the will of the Almighty,” the statement said.

“The President congratulates the Muslim faithful and prays that Allah accepts their supplications and acts of obedience.

“The President emphasizes that sacrifice and duty are essential ingredients to nation-building, noting that it takes collective purpose, will, and action to bring about great change.

“President Tinubu also urged Muslims to pray for peace in the country while celebrating with their families.

“He calls on citizens to spare a prayer for the nation for continuous peace and stability while working according to purpose in promoting unity, peace, and progress.

“The President acknowledges the sacrifices that Nigerians have made in the past one year as his administration sets the nation on a firm pedestal of growth and development.”

The statement also assured Nigerians of the positive outcomes of the President’s reforms to ease the current hardships Nigerians are experiencing.

“President Tinubu affirms that the sacrifices and great expectations of citizens will not come to nought as already propitious outcomes are beginning to manifest with the economy strengthening and vibrancy returning to critical sectors.

“The President reassures Nigerians that his administration is prioritizing their physical, social, and economic security and will not relent on this noble endeavour.

“President Tinubu wishes Nigerians happy Sallah celebrations.”

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