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Botswana’s new president wants swift resolution of De Beers diamond deal

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Duma Boko, the recently elected president of Botswana, stated on Friday that he hoped to wrap up negotiations for a new sales agreement with the multinational diamond mining conglomerate, De Beers, as quickly as possible.

“The relationship with De Beers could have been damaged by the way the negotiations were handled,” President Boko said in a televised statement from Gaborone, Botswana’s capital. “The first thing that needs to be done is to engage the other party”.

 

The government’s portion of diamonds from the Debswana joint venture will progressively rise to 50% over the following ten years, according to a new diamond sales agreement reached last year by De Beers, a division of Anglo American.

Currently, De Beers purchases 75% of the production from Debswana Diamond Company, which is jointly controlled by Botswana and De Beers.

The agreement has not yet been signed, even though the Botswana government and the departing president, Mokgweetsi Masisi, praised its benefits Beers was “thinking about walking away, not signing at all… (a) very dangerous position to be in as a country,” according to Boko.

According to Boko, his new government wishes to communicate with De Beers to comprehend its issues.

“A proper negotiation involves compromise, where you get a bit of what you wanted, the other person gets a bit,” Boko said. “Then…you have a durable, sustainable agreement.”

As part of a larger reorganisation of its extensive operations, Anglo is developing a strategy to sell out De Beers. In July, Masisi stated that the Botswana government might increase its 15% stake in De Beers.A decline in worldwide demand has severely impacted diamond prices, just like it has for other luxury items. De Beers has been providing contracted clients with flexibility and limiting supply.

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Politics

Officials report fight between Somalia’s Jubbaland region, central govt

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After Jubbaland staged an election against the advice of the Mogadishu administration, officials claimed on Wednesday that fighting had broken out between the federal government and the semi-autonomous Jubbaland region of Somalia.

“This morning, federal forces from Mogadishu in Ras Kamboni, using drones, attacked Jubbaland forces,” Adan Ahmed Haji, assistant security minister of Jubbaland, told a press conference in Jubbaland’s capital Kismayu.

Response requests were not immediately answered by Interior Minister Yusuf Ali or Information Minister Daud Aweis of the national administration.

Jubbaland, one of Somalia’s five semi-autonomous republics that borders Ethiopia and Kenya, elected regional president Ahmed Mohamed Islam Madobe to a third term in late November.

 

Jubbaland has the potential to be one of Somalia’s richest districts due to its location and natural resources, but for more than 20 years, violence has kept it permanently unsettled.

There are no explicit guidelines in the Somali constitution regarding the establishment of recently formed federal entities or their interactions with the national government.

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Politics

Ghana’s ex-president Mahama returns to power after close contest with former VP

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Following his challenger Vice President Mahamudu Bawumia’s concession on Sunday, former Ghanaian President, John Dramani Mahama, has made a political comeback by winning the country’s presidential election.

In a region where voters are seeking leadership change due to economic hardship, rising inflation, and depreciating local currency, the outcome of Ghana’s general election is yet another setback for the ruling party.

The 66-year-old Mahama, who presided over Ghana as president from 2012 to 2016, presented Bawumia as carrying on the policies that caused the country to experience its worst economic crisis in a generation.

After defaulting on most of its foreign debt, the world’s second-largest cocoa grower and significant gold producer agreed with the IMF last year for a $3 billion rescue.

“I have, this morning, received a congratulatory call from my brother Dr. Bawumia, following my emphatic victory in Saturday’s election. Thank you, Ghana,” Mahama said in a post on X social media.

Bawumia told a news conference from his home that he had contacted Mahama to congratulate him and that the National Democratic Congress (NDC), Mahama’s party, had also won the legislative election.

“The data from our internal collation of the election results indicate that former President John Dramani Mahama has won the presidential election decisively,” Bawumia said, adding that NDC also won the parliamentary election.

Bawumia said that to reduce tensions, he gave in before to the official outcome.

Scuffles had been reported in several local constituency centres before to his concession when polling station results were still being received.

“I am making this concession speech before the official announcement by the Electoral Commission to avoid further tension and preserve the peace of our country,” Bawumia said.

“It is important that the world investor community continues to believe in the peaceful and democratic character of Ghana,” he added.

Following Bawumia’s loss concession, hundreds of NDC supporters celebrated Sunday in the streets of Accra, the country’s capital.

According to preliminary findings, Mahama and the NDC party had a strong lead. Joy News stated that after preliminary results from 68 of 276 seats were tabulated, Mahama had more than 53% of the vote compared to Bawumia’s 45.16%.

Sammy Gyamfi, the national spokesman for the NDC, stated at a press conference on Sunday before Bawumia’s concession that Mahama was leading with around 56% based on preliminary internally collated figures from 38,896 of the 40,976 voting stations. According to him, the party seemed to be headed for about 185 of the 276 seats in Parliament.

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