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Zimbabwe insists on selling elephant ivory, host lobbying conference, threatens to quit CITIES

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Zimbabwe has threatened to quit the Convention on International Trade in Endangered Species (CITES) if it is not allowed to sell its stockpile of seized ivory.

Zimbabwe is lobbying CITIES by opening an international conference to try to win international support for its campaign to sell the part of elephants.

The southern African country has 130 tons of ivory, estimated to be worth $600 million.

The three days conference started on Monday at the Hwange National Park, the country’s largest wildlife park which is in southwestern Zimbabwe. Representatives from 16 African countries, as well as Japan and China, major consumers of ivory, are to attend the gathering, said officials.

The conference is an additional effort of Zimbabwe to get support to sell ivory. Last week, Officials from the Zimbabwe National Parks and Wildlife Management Authority showed ambassadors from EU countries the stockpile of ivory tusks that have been seized from poachers and collected from elephants that have died.

The Zimbabwean officials also appealed to the European Union and other countries to support the sale of ivory which has been banned since 1989 by CITES, the international body that monitors endangered species.

The conference has however been criticized by said a coalition of 50 wildlife and animal rights organizations from across the globe in a joint statement issued Monday.

The coalition argued that the conference “is sending a dangerous signal to poachers and criminal syndicates that elephants are mere commodities and that ivory trade could be resumed, heightening the threat to the species.

“Legalizing the ivory trade, including by authorizing another ‘one-off’ sale could have similarly disastrous consequences,” the groups said.

Zimbabwe’s position is that it needed to raise funds to adequately cater to its growing elephant population which has exceeded the capacities of its parks. The elephant population is growing rapidly at between 5% to 8% per year.

Opposition is coming from Kenya and other members of the

Countries that made up the African Elephant Coalition, whose 32 members are mostly East and West African countries with fewer elephants have argued against Zimbabwe’s push, with the stand that reopening legal international trade in ivory trade, even for a single auction, would result in increased poaching.

CITES banned the international commercial ivory trade in 1989. Then, in 1997, recognizing that some southern African elephant populations are healthy and well managed, it permitted Botswana, Namibia and Zimbabwe to make a one-time sale of ivory to Japan totaling 50 tonnes (the sales took place in 1999 and earned some $5 million).

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Moroccan annual inflation rises to 0.8% in November

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Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from 0.7% in October to 0.8% in November.

Monthly, consumer prices decreased by 0.2% from October.

The primary driver of inflation, food costs, grew by 0.8% compared to the previous year, while non-food inflation climbed by 0.7%. Core inflation, which does not include more erratic items like food, increased 2.6% annually and 0.2% monthly.

According to the central bank, inflation is expected to average 1% this year, down from 6.1% last year.

Despite the Al-Haouz earthquake, a spike in inflation, and worldwide economic challenges, Morocco’s GDP grew by 3.4% in 2023.

A recovery in tourism, robust industrial exports, and rising private consumption—all bolstered by prudent macroeconomic policies—were the main drivers of growth.

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Nigeria’s $42bn foreign reserves enough for 9 months’ imports— Central Bank

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According to Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), the nation’s $42.01 billion in foreign reserves can cover imports of goods and services for almost nine months.

Cardoso promised Nigerians improved economic fortunes in 2025 while addressing the Senate Committee on Banking, Insurance, and Other Financial Institutions yesterday in Abuja at the presentation of the performance index report.

Cardoso stated: “External Reserves rose from $ 38.35 billion it was on September 30, 2024, to $ 42.01 billion as of December 12, 2024”.

He clarified that third-party receipts in Q3 2024 and revenues from taxes connected to crude oil were the main drivers of the rise in foreign reserves during the specified time.

“We saw remarkable improvements in our trade balance and maintained a current account surplus,” he added.

“Our external reserves level can finance over 9.09 months of import of goods and services or 13.91 months only, higher than the international benchmark of 3.0 months and a robust buffer against shocks”.

On cash shortage, the CBN boss reiterated the N150 million fine against any branch of banks caught illegally distributing new Naira notes to currency hawkers and unscrupulous elements and said the Nigerian economy will improve in 2025 through policies and measures.

He predicted a stronger economic future: “Despite our economy’s challenges, there are clear reasons for optimism.

“The gradual stabilization of the forex market, ongoing banking sector recapitalization, and positive growth trends in key sectors, especially the services sector, indicate a path toward recovery and stability.”

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