Connect with us

Musings From Abroad

UK defends plan to send asylum-seekers to Rwanda as first flight takes off Tuesday night

Published

on

British Prime Minister, Boris Johnson, has once again, defended plans by his government to go ahead with the deportation of asylum-seekers of various nationalities to Rwanda as the first flight which will take about 30 migrants to the East African country is set to leave Tuesday night.

Johnson who said attempts to block the flights were “abetting the work of criminal gangs” involved in smuggling people across borders, insisted that his administration will not back down on the deportation of the asylum seekers.

The UK government had reached an agreement with Rwanda in April to deport people who enter the country illegally to the East African country in an exchange deal worth £120 for millions in development aid.

Under the agreement with Kigali, anyone landing in the UK illegally is liable to be given a one-way ticket for processing and resettlement in Rwanda.

Despite the last-ditch legal bids to block the deportations, mounting protests and worldwide criticism, a chartered plane is set to leave one of London’s airports on Tuesday night and land in Kigali on Wednesday, campaigners said, after British judges on Monday rejected an appeal against the deportations.

According to NGO Care4Calais, those due to be deported include Albanians, Iraqis, Iranians and a Syrian.

The government contends this will deter people from paying criminals to help them take the risky journey across the English Channel in small boats.

Musings From Abroad

UAE’s IRH to consider stake in Zambia’s Lubambe copper mine

Published

on

A division of the International Holding Company of Abu Dhabi, International Resources Holding (IRH), has announced that it plans to submit a proposal for a share in Zambia’s Lubambe Copper Mine.

 

The deal has opened up more potential to profit from Africa’s second-largest copper producer, according to IRH, which just acquired a 51% stake in Mopani Copper Mines in Zambia.

 

 

Even after Chinese firm JCHX Mining agreed to buy the stake, it was reported on March 22 quoting sources, indicating that IRH, a division of the most valuable company in Abu Dhabi, is interested in purchasing an 80% stake in Lubambe held by EMR Capital.

 

 

“IRH’s commitment (at Mopani), has opened doors for additional investment opportunities in Zambia, including an intention to bid for a stake in the Lubambe Copper Mine,” the company said.

 

Due to the company’s interest in Lubambe, which may be among Zambia’s biggest copper mines, a bidding battle between Shanghai-listed JCHX, a mine maintenance and contracting company, and itself may result.

 

Wealthy oil companies from Saudi Arabia and the United Arab Emirates have recently begun to follow China’s lead and engage in African businesses to acquire resources to diversify their economies and capitalize on the move to electric vehicles (EVs). In addition to making bids for mining projects, IRH stated that it was actively investigating a range of investment prospects.

 

“In the forthcoming years, our goal is to seek diversification opportunities beyond copper… (with) targeted investments in other pivotal energy transition minerals, such as cobalt, nickel, rare earth elements, manganese, graphite, and the 3T minerals – tin, tungsten, and tantalum,” it said.

 

The Zambian government currently plans to increase copper production from approximately 850,000 metric tonnes to 3 million metric tonnes annually by 2032.

Continue Reading

Musings From Abroad

China, Zambia’s major creditor, cooperating on debt rework— Official

Published

on

A spokesperson of Zambia’s foreign ministry has stated that one of its major creditors, China, has remained supportive of Zambia’s debt restructuring.

The diplomat did not, however, disclose whether China approved of a planned agreement the country in southern Africa made with foreign bondholders.

On Monday, Zambia and the bondholder group announced that they had come to a fresh understanding to restructure $3 billion in foreign notes. The proposal was given the go-ahead by Zambia’s formal creditors, the largest of which is China.

On Monday, Zambia announced that it has reached a deal with a group of private creditors on the restructuring of $3 billion of its foreign notes, which is a noteworthy achievement that brings the country closer to ending its lengthy debt restructuring.

Being the first nation in Africa to miss payments on its foreign debt during the Covid-19 outbreak, they have expressed a strong desire for the debt to be restructured. Unfortunately, the protracted delays in the process have strained the local financial systems, impeded desperately needed investments, and delayed economic progress.

Zambia defaulted more than three years ago and its debt rework process has hit many obstacles, including in November when the official creditors rejected a previous bond deal because it did not offer comparable debt relief to theirs.

“China, as co-chair of the Zambian Debt Committee, has made concerted efforts with all parties concerned to promote significant progress in the disposal of Zambia’s debt,” Lin Jian, a spokesperson for China’s Ministry of Foreign Affairs, said in a regular press conference.

“China will also continue to coordinate and cooperate with all parties concerned to steadily advance the work related to Zambia’s debt disposal,” he said when asked for China’s response to the latest bondholder deal.

Continue Reading

EDITOR’S PICK

Strictly Personal12 hours ago

Off we go again with public shows, humbug and clowning, By Jenerali Uliwengu

The potential contestants in the approaching elections are already sizing themselves up and assessing their chances of fooling their people...

Musings From Abroad13 hours ago

UAE’s IRH to consider stake in Zambia’s Lubambe copper mine

A division of the International Holding Company of Abu Dhabi, International Resources Holding (IRH), has announced that it plans to...

Sports13 hours ago

Paris Olympics: Nigeria’s D’Tigress in ‘group of death’, to battle Australia, France, Canada

Nigeria’s women national basketball team, D’Tigress, have been drawn in what many term the group of death after they were...

Tech13 hours ago

Egyptian AI-powered ed-tech startup Sprints raises $3m to scale up platform

Egyptian AI-powered ed-tech startup, Sprints, has announced raising $3 million bridge round of funding to help it scale up its...

Culture13 hours ago

Actress Yvonne Nelson lambasts Ghanaian President Akufo-Addo, labels his regime ‘8 years of lies’

Ghanaian actress and filmmaker, Yvonne Nelson, has lambasted President Nana Akufo-Addo over a viral video from the Neo-natal Intensive Care...

Metro14 hours ago

Zambia, Botswana sign cooperation instruments to enhance trade

Zambia and close neighbours, Botswana, have signed 10 instruments of cooperation aimed at enhancing trade relations between the two countries....

VenturesNow15 hours ago

Kenya, Uganda settle oil import dispute

In an effort to patch things up between the two neighbours, Kenya will permit Uganda’s landlocked state oil company to...

VenturesNow22 hours ago

No plan to increase taxes, Nigeria’s revenue chief says

The head of Nigeria’s revenue agency, Zacch Adedeji, has reaffirmed that there is no plan for the introduction of new...

Metro23 hours ago

Tinubu vows justice for slain soldiers, bestows national honours on them during burial

President Bola Tinubu has once again reiterated that killers of 17 soldiers of the Nigerian Army in Delta State on...

VenturesNow2 days ago

Nigeria’s central bank raises interest rate to 24.75% amid soaring inflation

Governor Olayemi Cardoso of Nigeria’s central bank has announced that the bank has increased its monetary policy rate by 200...

Trending