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Tshisekedi re-elected as Congo DR President

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The Democratic Republic of Congo President, Felix Tshisekedi, was re-elected to a second term on December 20, receiving over 73% of the vote in a poll conducted by the nation’s election commission.

The announcement of the results comes after the opposition complained about the election’s procedures for several days. A dispute that threatens to further destabilise a country roughly the size of Western Europe, the world’s top producer of cobalt and other valuable industrial commodities, has been fuelled by logistical setbacks, an election day overrun, and an opaque vote count.

Denis Kadima, the head of the electoral commission, CENI, announced the results in the capital, Kinshasa. He stated that Tshisekedi had received more than 13 million of the more than 18 million valid votes cast and that more than 43% of voters had participated.

As Kadima declared Tshisekedi to be provisionally elected, the supporters of Tshisekedi, who had gathered, cheered. Tshisekedi, accompanied by his mother and wife, thanked supporters and pledged to expedite initiatives to address inequality during his second term of office in front of hundreds of people who had gathered at his campaign headquarters following the announcement.

“You believed in my commitment not to spare any effort so that our country will retake its rightful place, and so that the Congolese people will recover their pride and dignity in belonging to this country,” he said.

“You believed in my fight against inequalities that have for a long time characterized our society.”.

Rival candidate Moise Katumbi, who received 18% of the vote and finished second in the opposition, has already said that he will not file a lawsuit challenging the results, citing the purported lack of independence of state institutions. It is unclear from other opposition candidates’ statements whether they will contest the outcome.

Nine opposition presidential candidates, including Katumbi, and six political party leaders called on supporters to demonstrate in the streets following the announcement of the preliminary results earlier on Sunday.

“We categorically reject the sham election… and its results,” the main opposition candidates said in a joint declaration. They demanded fresh elections be held with a new electoral body on a date to be agreed by all.

“We call on our people to take to the streets en masse after the proclamation of the electoral fraud,” they said.

All elected members of the 26 provincial assemblies, the President, almost all members of the National Assembly, and, for the first time under the new constitution, a select group of commune (municipal) council members were chosen.

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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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