Connect with us

International

Okonjo-Iweala ‘Less Optimistic’ About World Trade In 2024

Published

on

Ngozi Okonjo Iweala
Ngozi Okonjo Iweala
Share

The World Trade Organization’s chief Ngozi Okonjo-Iweala on Wednesday said she was “less optimistic” about world trade in 2024, pointing to tensions in the Red Sea.She said weaker global economic growth, “worsening geopolitical tensions, the new disruptions we see in the Red Sea, on the Suez Canal, the Panama Canal” meant “we are less optimistic”.

Okonjo-Iweala was speaking to journalists at the World Economic Forum in the Swiss resort of Davos where political and economic elites are meeting to discuss global challenges.

Before the massive Hamas attack on Israel in October and the subsequent outbreak of war in Gaza, the WTO had predicted trade would grow by 0.8 per cent in 2023 and projected growth of 3.3 per cent this year.

But Okonjo-Iweala warned the figure for 2024 would now be lower in future forecasts.

“We think there are a lot of downside risks to the forecasts we had made last year of 3.3 percent of growth of merchandise volumes this year. So we expect weaker performance,” she said.

“We will be revising estimates for this year, but they won’t be ready for another month or so,” Okonjo-Iweala added.

A spate of attacks by Yemeni rebels on Red Sea shipping has disrupted the vital trade route while the worst drought in decades to hit the Panama Canal has forced authorities to slow transits.

Yemen’s Huthi rebels say their strikes are in solidarity with Palestinians in Gaza.

The attacks have, however, also caused shipping companies to avoid the Suez Canal.

The Hamas attack on October 7 resulted in the death of around 1,140 people in Israel, most of them civilians, according to an AFP tally based on official Israeli figures.

More than 24,400 Palestinians, around 70 percent of them women, young children and adolescents, have been killed in the Gaza Strip in Israeli bombardments and ground offensive since October 7, according to the Hamas government’s Ministry of Health.

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

International

Ghana Repatriates Citizens From South Africa Amid Rising Anti-Foreigner Violence

Published

on

Ghana
Share

 

The government of Ghana has commenced the repatriation of its citizens from South Africa following weeks of anti-foreigner protests and xenophobic attacks that targeted African migrants living in the country.

The first evacuation flight carrying nearly 300 Ghanaians departed Johannesburg early Wednesday and is expected to arrive in Ghana later in the day. Ghanaian authorities disclosed that about 800 nationals had registered for voluntary repatriation after tensions escalated in several South African communities.

The repatriation exercise follows a wave of hostility against foreign nationals, particularly African immigrants, after videos circulated widely on social media showing confrontations and assaults involving migrants. The incidents reignited fears of xenophobic violence in South Africa, a country that has witnessed recurring anti-immigrant unrest over the years.

Stephen van Neel, head of Immigration and Law Enforcement at South Africa’s Department of Home Affairs, said investigations conducted during the evacuation process revealed that only 10 of the nearly 300 departing Ghanaians possessed valid residency status in the country.

According to him, the majority were found to be undocumented migrants, permit overstayers, or individuals who failed to comply with immigration regulations. He added that South African authorities would enforce appropriate immigration sanctions against affected persons.

Witnesses at Johannesburg’s OR Tambo International Airport reported that men, women, and children arrived in buses before dawn to board the evacuation flight. However, some individuals were unable to travel after encountering documentation-related complications. Officials said those affected could be considered for a second evacuation flight expected later this week.

The anti-foreigner protests reportedly intensified last month after viral videos showed South Africans openly confronting African migrants and questioning their presence in the country. In one widely shared clip, a Ghanaian man was confronted by a group demanding to know why he had relocated to South Africa. Another video showed a man believed to be Ghanaian being physically assaulted.

The developments prompted strong diplomatic reactions from Ghanaian authorities. Ghana’s Foreign Affairs Minister, Samuel Ablakwa, summoned South Africa’s Acting High Commissioner to Ghana, Thando Dalamba, to formally express what he described as Ghana’s “strong concern” over the intimidation and harassment of foreign nationals.

Addressing the evacuees before departure on Wednesday, Ablakwa assured them that adequate arrangements had been made for their reintegration upon arrival in Ghana. He announced a five-point support package prepared by the government to assist returning citizens.

“You are not refugees, you are not some destitute. Ghana is not some war zone where we cannot take care of our own,” the minister told the returnees.

He stated that the evacuation operation demonstrates Ghana’s commitment to safeguarding its citizens abroad and responding swiftly during emergencies affecting nationals overseas.

Nigerians were also among those affected by the renewed xenophobic tensions in South Africa. According to the Nigerian Consulate in Johannesburg, at least two Nigerians were killed during the attacks.

Earlier this month, Nigeria’s Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, disclosed that President Bola Tinubu had directed relevant authorities to arrange evacuation flights for Nigerians willing to return home voluntarily.

Frank Onyekwelu, president of the Nigerian community in South Africa, said more than 130 Nigerians had already registered for repatriation. However, details regarding the proposed evacuation flights have yet to be officially announced.

Nigeria’s Ministry of Foreign Affairs said on Wednesday that further updates concerning the evacuation arrangements would be made public next week.

The latest developments have once again drawn international attention to the recurring issue of xenophobia in South Africa, where frustrations linked to unemployment, crime, and economic hardship are often directed at foreign nationals, particularly migrants from other African countries.

Continue Reading

International

Nigeria Urges South Africa to Act Against Attacks on Nigerians

Published

on

Nigeria and South Africa Flags
Share

 

The Federal Government of Nigeria has called on South Africa to take firm and immediate action to stop ongoing violence targeting Nigerians and other foreign nationals in the country.

This appeal was made during a meeting in Abuja between Dunoma Ahmed, Permanent Secretary of the Ministry of Foreign Affairs, and Lesoli Machele.

Speaking to journalists, the ministry’s spokesperson, Kimiebi Ebienfa, said the meeting was convened in response to recent xenophobic attacks and protests in parts of South Africa. According to him, some protesters have been calling for foreigners—especially black immigrants—to leave the country.

Ebienfa described circulating videos and reports from South Africa as disturbing, noting that they contradict the long-standing friendly relationship between both nations.

He also revealed that Nigeria’s High Commission in Pretoria and Consulate in Johannesburg are closely monitoring the situation and sending regular updates to the government.

The Nigerian government further expressed concern over the reported deaths of two Nigerians, Amaramiro Emmanuel and Ekpenyong Andrew, allegedly linked to encounters with South African security agencies. Authorities say the circumstances surrounding their deaths have raised serious questions about the conduct of security personnel.

While acknowledging statements by South African officials condemning violence, looting, and extrajudicial actions, Nigeria emphasized the need for these commitments to be backed by concrete action on the ground.

The Federal Government also called for the urgent activation of an existing memorandum of understanding (MoU) between both countries. The agreement is designed to enable early warning systems, improve communication, and help prevent escalation of threats against Nigerians living in South Africa.

Nigeria urged South Africa to take decisive steps to restore confidence among Nigerians residing there and ensure they can live safely and with dignity.

Ebienfa also mentioned that the government is aware of a recent protest by a group of Nigerians at the South African High Commission in Abuja. He appealed for calm and reassured that Nigeria remains committed to protecting diplomatic missions in line with international obligations.

Continue Reading

International

Trump Says Middle East War Could End ‘Very Soon’ as Markets Rally

Published

on

Donald Trump
US President, Donald Trump
Share

 

United States President Donald Trump has said the ongoing Middle East conflict could end within weeks, expressing confidence that the war may be concluded “very soon.”

Speaking at the White House, Trump told reporters that U.S. forces could withdraw from Iran within “two weeks, maybe three,” adding, “we’re finishing the job.” He also indicated that a diplomatic agreement could still be reached before any final military outcome.

Earlier, Iranian President Masoud Pezeshkian said Tehran possesses “the necessary will” to end the conflict, provided key conditions are met, including guarantees against future aggression.

The remarks from both leaders raised hopes for a resolution to the month-long crisis, prompting a surge in global financial markets. On Wall Street, the Nasdaq Composite rose 3.8 percent, while the S&P 500 gained nearly three percent.

Asian markets also posted strong gains, with major indices in Seoul, Tokyo, and Taipei rising sharply, alongside advances in Hong Kong, Shanghai, Sydney, Singapore, Manila, and Jakarta.

Despite the optimism, oil markets remained volatile amid concerns over the strategic Strait of Hormuz, through which roughly 20 percent of global oil and gas supplies pass. Trump stated that the United States would not intervene to reopen the strait if it were blocked, suggesting other nations should take responsibility.

Meanwhile, Israeli Prime Minister Benjamin Netanyahu signaled continued military operations, stating that Israel would press on with its campaign against what he described as a “terror regime.”

The economic fallout from the conflict has intensified, with U.S. gasoline prices surpassing $4 per gallon for the first time in four years and inflation pressures rising in Europe. Analysts warn that sustained high oil prices—currently above $100 per barrel—could further strain global economic growth.

Additional tensions emerged following reports that the United Arab Emirates is considering supporting efforts to reopen the Strait of Hormuz, potentially under a United Nations mandate, which could mark a significant escalation.

As diplomatic signals remain mixed, analysts caution that uncertainty surrounding the conflict and global energy supplies is likely to persist in the near term.

Continue Reading