Musings From Abroad

Morocco, France seal reconciliation with commercial deals

Published

2 months ago

October 30, 2024

As the two nations end years of diplomatic hostilities, Morocco signed a number of economic agreements during French President Emmanuel Macron’s state visit to the country, including an agreement to purchase high-speed trains from the French company Alstom on Monday.

In the last three years, Paris and Rabat have had a tense relationship, particularly because of immigration concerns and the disputed Western Sahara region, which Morocco wants to be recognised as Moroccan by the international world.

Macron paved the way for the reunion in July by supporting Morocco’s stance on Western Sahara after treading carefully to avoid upsetting Morocco’s adversary Algeria. Macron is travelling with about 40 business executives and 12 ministers.

Before the contract signing event at the Moroccan royal palace on Monday, Macron and his wife Brigitte were greeted at the airport by King Mohammed VI, who was walking with a cane in an unusual honour for a foreign visitor.

As Morocco looks to extend an existing line farther south to Marrakech by 2030, Alstom of France and Morocco’s rail operator ONCF struck a deal to purchase 12 high-speed carriages and the option for an additional six.

French energy companies Engie and EDF also inked agreements to grow in the renewable energy space, and TotalEnergies inked a hydrogen agreement, though the exact sum was not immediately made public. Additionally, the shipping corporation CMA CGM revealed plans to invest in a port terminal in Morocco.

Although they did not provide a detailed breakdown, French officials stated that contracts for both parties totalled more than 10 billion euros ($10.8 billion).

Additionally, France hoped the visit would ease tensions surrounding immigration, a contentious subject in France where right-wing groups are pressuring the government to return more undesired migrants to nations like Morocco.

To put pressure on these nations to make it easier for those people to return, Paris decided in 2021 to substantially reduce the number of visas it gives to travellers from North Africa.

Musings From Abroad

Swiss company Mercuria partners Zambia’s IDC in new metals trading firm

Published

23 hours ago

December 21, 2024

Ifeoluwa Dada

According to a statement released by Swiss commodities trader, Mercuria, on Thursday, it has established a metals trading arm with Zambia, the second-largest producer of copper in Africa.

The trading unit is jointly owned by Mercuria and an arm of Zambia’s Industrial Development Company (IDC), and its purpose is to allow Zambia to engage directly in the minerals trading market.

The joint venture “envisages the establishment of a vehicle to market and trade Zambian copper by mutual leverage,” according to a statement from Cornwell Muleya, the CEO of IDC.

The southern African nation wants to increase copper output to roughly 3 million metric tonnes within the next ten years, and in 2023, it produced roughly 698,000 tonnes of copper, down from 763,000 metric tonnes the year before.

In June, the Zambian government announced that it would establish a minerals trading unit.

Investors including First Quantum Minerals and Barrick Gold are ramping up production, with output set to receive a further boost once Vedanta Resources’ Konkola Copper Mines restart activity.

“Our joint venture with IDC marks a significant milestone for Zambia as it positions itself more strategically in the global minerals market,” Kostas Bintas, Mercuria’s global head of metals and minerals, said in the statement.

Musings From Abroad

Blinken to reveal UN Sudan funding additions

Published

2 days ago

December 20, 2024

Ifeoluwa Dada

Additional financing for humanitarian aid to Sudan and initiatives to strengthen civil society in the nation, where a conflict has killed tens of thousands of people and displaced millions, will be announced by U.S. Secretary of State Antony Blinken at the United Nations on Thursday.

Blinken will make many announcements when he leads a UN Security Council meeting on Sudan on Thursday, which will centre on humanitarian aid and civilian protection, Deputy U.S. Representative to the UN Ned Price told reporters on Wednesday.

According to Price, the announcements would include more money for humanitarian help, initiatives to strengthen civil society, and the return of democracy.

“Sudan, unfortunately, has risked becoming a forgotten conflict,” Price said.

“So part of the reason the secretary … opted to convene a signature event on this very topic is to make sure it remains in the spotlight,” Price said.

For almost 18 months, the paramilitary Rapid Support Forces and Sudan’s army have been engaged in combat, resulting in a severe humanitarian crisis that has forced over 12 million people from their homes and made it difficult for U.N. organisations to provide aid.

A power struggle between the RSF and the Sudanese Armed Forces preceded a planned shift to civilian administration, which sparked the conflict in April 2023.

Although the army declined to join this year’s U.S.-mediated peace negotiations in Geneva, the warring parties did pledge to increase assistance access, which prevented any movement towards a ceasefire.

Price stated that before President Joe Biden’s term ends next month, the United States would keep collaborating with allies to enhance humanitarian access in Sudan and eventually end hostilities.

“We are going to leave nothing on the field in our efforts to work with allies, with partners, with the Sudanese stakeholders themselves, on the issues that matter most – humanitarian access, the provision of humanitarian assistance, ultimately, the process by which we can work to get to a cessation of hostilities, which is most urgently needed,” he said.