Latest news with #WestAfrican
First Post
8 hours ago
- Entertainment
- First Post
Burkina Faso's Ibrahim Traore Gets AI Praise From Beyoncé, Pope Firstpost Africa
Burkina Faso's Ibrahim Traore Gets AI Praise From Beyoncé, Pope | Firstpost Africa | N18G Burkina Faso's Ibrahim Traore Gets AI Praise From Beyoncé, Pope | Firstpost Africa | N18G AI-generated videos featuring global figures like Beyoncé, Justin Bieber, R. Kelly, and even the Pope are flooding West African social media, all singing praises of Burkina Faso's military leader, Captain Ibrahim Traore. Though fake, these deepfakes have gone viral—amplifying Traore's popularity and promoting a growing personality cult. Experts say the campaign blends digital propaganda with pan-African messaging, aiming to boost his image at home and across neighbouring states. While some of the videos are monetised by independent creators, others appear linked to pro-junta cyber units. With Traore's anti-West stance rising, digital adoration is fast becoming a key tool of power. See More
TimesLIVE
10 hours ago
- Business
- TimesLIVE
Ivory Coast President Ouattara, 83, in pole position for fourth term
Ivory Coast President Alassane Ouattara's decision to seek re-election in October means the world's top cocoa-producing nation will again have to wait on his promise to pass the baton to a new generation of political leaders. But the 83-year-old former international banker is hoping a strong economy and a weak field of challengers will propel him to a fourth term, extending a period of relative stability after the civil war that brought him to power in 2011. Ouattara made his announcement on Tuesday, saying his health was not an issue. With the country's most high-profile opposition politicians ruled ineligible, he is the clear front-runner. A US-trained economist whose resume includes stints as governor of the West African central bank (BCEAO) and deputy managing director of the International Monetary Fund (IMF), Ouattara has long pitched himself as a savvy technocrat capable of delivering steady growth. The numbers back him up, with the IMF projecting GDP to increase to 6.3% this year, in line with the average over the past decade.
Business Insider
11 hours ago
- Business
- Business Insider
Top 5 African countries that produced the most oil in June 2025
Oil production is still a major source of income and a substantial contributor to the GDP of many African countries, making it a reliable resource. However, this resource's production usually varies from month to month, and June has been no exception. Oil remains a vital contributor to GDP for numerous African nations. June witnessed a notable rise in OPEC Reference Basket and front-month contract prices. Global economic growth forecasts for 2025 and 2026 remain consistent with previous predictions. In June, the average value of the OPEC Reference Basket (ORB) was $69.73/b, up $6.11 month over month (m-o-m). The ICE Brent front-month contract had a monthly gain of $5.79 to an average of $69.80/b, while the NYMEX WTI front-month contract saw a monthly increase of $6.39 to an average of $67.33/b. As per the latest OPEC Monthly report for July, the global economy maintained its steady growth track, aided by the strong growth observed in 1H25. Global economic growth forecasts for 2025 and 2026 remain unchanged at 2.9% and 3.1%, respectively. Forecasts for US economic growth in 2025 and 2026 continue at 1.7% and 2.1%, respectively. Japan's economic forecasts remain unchanged at 1.0% for 2025 and 0.9% for 2026. Global oil demand growth is expected to stay at 1.3 million barrels per day (mb/d) in 2025, unchanged from last month's prediction. 'West African crude differentials also strengthened in June on renewed demand from European and Asian buyers for July-loading cargoes. The high value of similar grades in other regions also helped to lend support to West African grades,' the report states. Additionally, the report showed that China's overall exports to the US decreased by 28% during the last two months, but this was more than made up for by a rise in shipments to other continents, such as Africa, Latin America, the ASEAN area, and the EU. With that said, here are the African countries with the highest oil production last month in thousand barrels per day (tb/d), according to OPEC's latest report. Top 5 African countries that produced the most oil in June 2025 Rank Country DoC crude oil production based on secondary sources, tb/d Change between June and May 1. Nigeria 1,547 19 2. Libya 1,280 -24 3. Algeria 927 7 4. Congo 256 0 5. Gabon 234 2
&w=3840&q=100)
Business Standard
13 hours ago
- Business
- Business Standard
World Bank plans securitisation, debt swaps to boost development
The World Bank is considering securitising some of the projects it's backing to attract more private funding as it prepares to roll out a series of debt-for-development swaps, President Ajay Banga said. It's designed the initiative to help accelerate the pace of development in some of the world's poorest nations and create some of the jobs that hundreds of millions of young people will need in the next decade, he said in an interview in Mozambique. 'We can't do project by project,' he said of the securitisation plans. 'We don't have 100 years.' Banga, who took charge of the world's biggest multilateral development bank two years ago, said he's trying to change the way the lender works to speed up projects. The securitisation plan envisages private institutions like large pension funds taking loans off the World Bank's balance sheet, allowing the lender to invest more. The swaps would enable countries to spend the interest savings on development. Under the securitisation plan, the bank is working with Goldman Sachs Group Inc. on a pilot project to combine some of the projects backed by its International Finance Corp. unit into a package to offer to the market in the next four to five months, he said. 'It's the first time the World Bank has done this,' he said, adding that the idea would be to get the packages credit ratings. 'Banks do it all the time.' Goldman Sachs declined to comment. The debt-for-development swaps will be modeled on an arrangement the bank concluded with Ivory Coast in December. Under that plan, the West African nation will buy back about €400 million ($462 million) of its most expensive debt that matures over the next five years. By using a partial World Bank guarantee, it will take out a commercial loan with a longer maturity, lower interest rate and grace period to free up €330 million over the period and save €60 million — on condition the savings are spent on education. 'I've got nine more in the pipeline like that,' Banga said, declining to identify the countries. 'They are all across Africa and parts of Asia.'
Yahoo
19 hours ago
- Politics
- Yahoo
Attack on military base in Burkina Faso kills about 50 soldiers, residents say
LAGOS, Nigeria (AP) — An attack by an armed group on a military base in northern Burkina Faso has left about 50 soldiers dead, according to accounts by a community leader and a resident on Tuesday. The Jama'at Nasr al-Islam wal-Muslimin group, or JNIM, was suspected of carrying out the attack Monday on the base in Dargo in Boulsa province in the northern region of the landlocked West African nation. The two sources, who spoke to The Associated Press on condition of anonymity because they feared repercussions from the military, said about 100 militants participated in the attack, and that the gunmen burned and looted the base after the killings. The military government has yet to publicly acknowledge the attack. JNIM, one of several armed groups conducting attacks across West Africa, has been blamed for hundreds of civilian and military deaths. Burkina Faso is witnessing a surge in attacks by armed groups who are in control of most of the country, especially outside of the capital. The deteriorating security situation has led to political shifts in the country and served as the pretext for back-to-back coups. The military leader, Ibrahim Traore, has been unable to rein in the Islamist groups despite his redrawing of political and military allies.
