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Egypt: President al-Sisi promises more investment, social spending as 3rd term begins

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Tuesday saw the inauguration of Egyptian President, Abdel Fattah al-Sisi, for a third term in the nation’s new capital at one of the biggest of the mega-projects that have come to represent his administration.

Speaking at the recently constructed parliament building, Sisi outlined the difficulties Egypt had faced recently and pledged to continue the country’s progress, which many Egyptians claim they are left out of.

“The past few years have shown that the path of nation-building is not paved with roses … between terrorist attempts at home, sudden global crises abroad, fierce wars around us,” Sisi told lawmakers and religious, government, and military officials.

During his speech, Sisi pledged to augment funding for initiatives aimed at the impoverished and involve the corporate sector, adhering to the pledges that facilitated the completion of the enlarged $8 billion agreement with the IMF last month.

In an election held in December of last year, Sisi easily won with 89.6% of the vote and no real opposition. His message of security and stability struck a chord with some voters as the conflict raged in Gaza’s neighbouring country. Still, many others, consumed by their financial struggles, showed no interest in the election and said the outcome was inevitable.

“You carry a heavy load!” shouted one attendee during the ceremony, while another interjected, “If God is with you, then no one can be against you!”

After constitutional modifications that increased the duration of presidential terms to six years and gave Sisi the ability to run for office a third time, his term as president ends in 2030.

Egypt has undergone an infrastructure boom led by the military since Sisi took office in 2014. He claims this is necessary for economic growth and to accommodate the country’s population, which has increased by 6 million since it reached 100 million four years ago.

The largest of the mega projects, which also include building a significant number of new roads, expanding the Suez Canal, and creating other new towns, is the $58 billion New Administrative Capital, which is located in the desert east of Cairo.

Opponents claim that these projects raise Egypt’s debt load and take funds away from other pressing requirements, which is what is causing the country’s economic problems.

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Mali: 7 Russian mercenaries killed

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An al Qaeda offshoot in North Africa has claimed responsibility for the attack in central Mali, killing at least seven mercenaries from Russia’s Wagner private military contractor company.

Wagner earlier lost a battle in July with mostly Tuareg rebels and Islamists close to Mali’s Algerian border, exposing the perils faced by mercenaries used by military juntas in the Sahel area of West Africa.

The separatists and strong branches of Al Qaeda and Islamic State, which have taken over large areas of the Sahel over the past 12 years, are difficult for Mali and its neighbours Burkina Faso and Niger to control.

The al Qaeda offshoot JNIM claimed responsibility for the Thursday attack, according to a statement from SITE Intelligence Group, which keeps an eye on extremist activity in the area. According to SITE, JNIM captured several weapons and killed seven Russian Wagner mercenaries.

Following an attack, the bodies of at least five white males wearing army fatigues were seen laying near a military truck in a video obtained by Reuters. The validity of the footage could not be confirmed by Reuters.

SITE Intelligence posted images allegedly from JNIM that showed many crates of weapons and ammo together with the dead and bloodied bodies of troops.

Although two local officials acknowledged the incident, a Malian army source claimed to have seen seven dead bodies, including Russian fighters. Five Wagner warriors were slain, according to one of them.

At least six Russians have been murdered in the attack, which was carried out by Katiba Macina, a division of JNIM, according to a consultant working on security in the area.

The expert referred to the Russians as Africa Corps warriors, a paramilitary group under Kremlin leadership that has taken Wagner’s position in Africa throughout the previous 12 months.

Mali has previously said that Russian servicemen trainers are assisting local troops with Russian-purchased weaponry rather than mercenaries.

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Mauritius’ Prime Minister to double as Finance Minister

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In an effort to maintain a tight eye on the economy, Mauritius’ Prime Minister, Navin Ramgoolam, who took office this month following a resounding election victory, said on Friday that he would retain the position of finance minister for himself.

“We are doing an audit of the economy to see to what extent the outgoing government has destroyed it,” Ramgoolam told reporters in the capital Port Louis after he presided over the swearing-in of other ministers.

Ten years after he stepped down as prime minister, the seasoned politician returned to the position when his Alliance du Changement (ADC) alliance won 60 of the 62 seats in the national legislature.

The 77-year-old Ramgoolam said earlier this week that he would be auditing governmental finances. Before this, he was prime minister from 1995 to 2000 and again from 2005 to 2014.

Ramgoolam started a campaign in 2006 to streamline taxes and reduce bureaucracy to diversify the $10 billion economy beyond exports of sugar, textiles, and tourism.

Since then, the 1.3 million-person nation, which positions itself as a bridge between Africa and Asia, has developed into a major offshore financial hub and has been rated by the World Bank as the easiest location to do business in Africa regularly.

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