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Opposition party wins majority seats in Guinea Bissau’s parliament

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After a thirteen months break in Guinea-Bissau’s parliament, the opposition coalition has won majority seats after the legislative elections held on Sunday.

Over 20 political parties and coalitions, including the former ruling PAIGC party and its rival MADEM G15, presented candidates for various constituencies across the country.

According to official results, the PAI Terra Ranka coalition, led by the former ruling PAIGC party, won 54 of 102 seats in Sunday’s poll, while the ruling Madem G15, won 28 seats.

The development alters the planned constitutional reforms of President Embalo which would have allowed him to consolidate power by ridding the country of its semi-presidential system.

Under the current political system, the majority party or coalition appoints the government but the president has the authority to dismiss it in certain circumstances, a situation that has led to political gridlock and infighting in the past.

The political stability of the country has been consistently threatened by military incursions with successful and failed coup attempts. The latest was in February 2022 when gunmen stormed a government compound where President Embalo was holding a cabinet meeting, in an attempt to stage a coup.

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South Sudan’s finance minister Bak Barnaba Chol fired

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President Salva Kiir of South Sudan has dismissed Bak Barnaba Chol, the Minister of Finance and Planning, and appointed engineer Daniel Daniel Chuong in his place.

 

Kiir removed the Finance Minister without providing a reason in a presidential decree that was published in South Sudan’s capital, Juba.

 

Before his appointment, the new finance minister was the petroleum ministry’s technical adviser and the previous minister of petroleum.

 

The country’s local currency, the South Sudanese pound (SSP), was depreciating at the same time as the changes were implemented, causing hyperinflation.

 

Three months ago, the SSP was worth 1,100 units against the US dollar; three months later, it was worth a record low of 1,800 units.

 

To secure hard currency and stabilize the economy, the nation is currently struggling to raise daily oil production from the current 150,000 barrels per day to 175,000 barrels per day.

 

South Sudan is currently in a dangerous situation. UN reports state that local violence between different armed groups and factions is on the rise.

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Senegal: opposition figure Sonko promises new national currency if party wins election

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Controversial Senegalese opposition leader, Ousmane Sonko, said the country would consider the implementation of
reform of the West Africa region’s CFA franc currency at a regional level first, and if that failed, would consider creating a national currency, if his preferred candidate, Bassirou Diomaye Faye, wins the next presidential election.

Faye is one of the main candidates in Senegal’s March 24 presidential election. He is backed by the popular firebrand Sonko, who was disqualified from the race over a defamation conviction.

Sonko made the promise while speaking at a joint press conference with Faye, shortly after both politicians were released from jail.

It appeared the comment was aimed at easing concerns after their election campaign, which promised to introduce the new currency if Faye won.

“We will try to implement a monetary reform at the sub-regional level first,” Sonko said. “If that fails, we will decide as a nation.”

Sonko alleged that the CFA franc currency, which is pegged to the euro and used by eight countries of the West Africa Monetary Union, affects economic development in the region, and the time is right to explore more options.

“There’s no sovereignty if there is no monetary sovereignty,” said Faye, speaking at the same press conference.

To be declared the winner in a presidential poll, a candidate must secure the signatures of 0.8% to 1% of the voting public. At least 2,000 sponsors must be secured for each of Senegal’s fourteen regions, where a minimum of seven signatures are required.

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