Africa - Page 19

Belt and Road Victim Zambia Sees Finances Implode After Early Pension Payout

The Zambian government passed a law on April 17 that allows citizens to cash out up to 20% of their pensions early. The resulting hit to government finances as claimants raced to pull some $300 million out of the National Pension Scheme Authority (NAPSA) is threatening to topple Zambia’s finances, and endangering a debt relief deal it has been working on since 2020.

Chinese President Xi Jinping (Left) meets Zambia's President Edgar Chagwa Lungu (Right) at

China Promises to Pour Money into Rebuilding Post-War Ethiopia

Chinese Foreign Minister Qin Gang vowed on Friday that his country would invest heavily in the “post-war reconstruction” of Ethiopia, which recently exited a two-year war between its government, supported by neighboring Eritrea, and the Tigray People’s Liberation Front (TPLF).

Ethiopian security

Nigeria Claims to Shut Down Nearly 300 Illegal Oil Refineries

The Premium Times of Nigeria on Tuesday published an update from the Nigerian government on its war against oil poachers. According to the Eastern Command of the Nigerian Navy, 27 smuggling vessels were captured over the past year, and 294 illegal refineries were located and shut down.

A view of an illegal oil refinery destroyed by members of the NNS Pathfinder of the Nigeri