AFRICA IN BRIEF: Angola cuts rates, Ghana moves to double gold royalties, other stories

AFRICA IN BRIEF: Angola cuts rates, Ghana moves to double gold royalties, other stories

Angola’s central bank has cut its benchmark interest rate by 100 basis points to 17.5%, the lowest level since October 2023, as easing inflation allows Africa’s third-largest oil producer to deepen monetary easing.

The move marks the National Bank of Angola’s third rate cut since ending its tightening cycle at 19.5% in September 2025. The bank said the decision was driven by a sustained slowdown in inflation and expectations that the trend will continue in the months ahead.

Ghana is set to scrap long-term mining stability agreements and sharply raise royalty rates as part of reforms aimed at capturing more revenue from soaring gold prices.

Africa’s biggest gold producer introduced stability deals in the early 2000s to attract foreign investment, helping it overtake South Africa as the continent’s top producer. The proposed changes, expected to be submitted to parliament by March, reflect a broader African push to secure a larger share of windfall commodity revenues.

Severe flooding in South Africa’s Limpopo and Mpumalanga provinces has forced the temporary closure of Kruger National Park, with guests and staff evacuated by helicopter.

At least 19 people are believed to have died after torrential rains destroyed homes and infrastructure. President Cyril Ramaphosa visited affected areas, as weather authorities issued the highest-level warning for further heavy rainfall.

At least seven people were killed in overnight violence in central Uganda following elections expected to extend President Yoweri Museveni’s rule into a fifth decade.

Preliminary results show Museveni leading with more than 75% of the vote, ahead of opposition challenger Bobi Wine. Police said clashes broke out after opposition supporters attacked a police station, an account disputed by local officials.

South Africa has launched an inquiry into Iran’s participation in BRICS+ naval exercises near Cape Town after reports that President Cyril Ramaphosa had sought Tehran’s withdrawal to avoid straining relations with the United States.

The defence ministry said the probe would determine whether presidential instructions were misrepresented or ignored, as the drills took place during sensitive deliberations in Washington over the future of AGOA trade benefits.

Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance.

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