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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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Rwandan foreign minister claims Congo refused M23 peace offer

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Rwandan Foreign Minister, Olivier Nduhungirehe, has claimed that his Congolese colleague had refused to sign a pact to address the M23 rebel violence in the eastern Democratic Republic of Congo.

Since 2022, the Tutsi-led M23 has been fighting in the violence-torn east of central Africa, displacing over 1.7 million people.

Congo, the UN, and others accuse Rwanda of providing troops and ammunition to the group. Rwanda denies aiding M23 and accuses Congo of fighting alongside the Democratic Forces for the Liberation of Rwanda (FDLR), which has attacked Tutsis in both countries.

Both nations took part in peace talks in late August to reduce the hostilities, which have exacerbated the humanitarian catastrophe in the area and occasionally stoked concerns about a wider war.

Nduhungirehe told Reuters that a strategy “for neutralising the FDLR and lifting Rwanda’s defence measures” had been agreed upon and signed by participants in the negotiations, including the head of military intelligence for the Democratic Republic of the Congo.

He made this statement on the fringes of a conference in France between leaders of French-speaking nations, saying that ministers were expected to sign this accord on September 14.

“We were ready to sign … but the Congolese minister refused. She first commented on the report and then later, after consultation, she came back. She told us she was opposed to adopting the report.”

According to Nduhungirehe, the plan called for Rwanda to ease its “defence measures” a few days after the activities against the FDLR, however, the Congolese minister objected to these not occurring at the same time.

An inquiry for comment was not immediately answered by a Congolese government representative.

Paul Kagame and Felix Tshisekedi, the leaders of Rwanda and the Congo, were present at the meeting in France. Though a three-way meeting was suggested by French President Emmanuel Macron, the two ultimately had separate private encounters with Macron.

“The situation is still too tense (for a three-way meeting),” Macron told reporters later on Saturday. It “calls for efforts on both sides,” he said calling on the two countries to reach an agreement.

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Barrick Gold, Mali govt resolve issues on Loulo and Gounkoto mines

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The government of Mali and Barrick Gold Corp (ABX.TO) have resolved their ongoing claims and disagreements about the Loulo and Gounkoto gold mines in that West African nation, the company announced on Monday.

Two days after four Barrick employees were detained by the Malian government, the second-largest miner in the world made a statement. A new mining agreement that would allow Mali’s military-led government more control over its resources has been negotiated by the two sides. Among Africa’s top producers of gold is Mali.

According to Barrick, once the terms of the settlement have been finalised, the agreement’s specifics will be made public.

“The current negotiations have proved challenging but we’re encouraged by the government’s recognition of the importance of securing the long-term viability of the Loulo-Gounkoto complex as a substantial contributor to the Malian economy,” Barrick’s CEO, Mark Bristow, said in a statement.

It was not immediately possible to reach the Mali government for comment.

Barrick announced in July that it has made over $10 billion in economic investments in Mali during the previous 29 years.

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