Southern Africa Archive

The list of applicants for the job of “international financial crisis manager” just got a bit longer. After two years of negotiations, Brazil, Russia, India, China and South Africa—known collectively as the BRICS—have unveiled a new international financial institution. The centerpiece of the aptly named New Development Bank is a $50 billion pool of resources set aside to fund infrastructure and other development projects in the BRICS countries. However, the group also announced the creation of the Contingent Reserve Arrangement (CRA), a $100 billion fund designed to provide short-term liquidity support to members of the group, similar to the Western-dominated […]

As President Barack Obama convenes a summit of nearly 50 African leaders in Washington focused mainly on economic opportunity, security and health crises continue to undermine the continent’s potential. South Sudan and the Central African Republic are torn by civil war; Nigeria and Kenya are threatened by terrorist groups; and Sierra Leone and Liberia are suffering from the worst Ebola outbreak to date. But while Western powers like the U.S. and France continue to wield influence, it is increasingly Africa’s leaders who are driving events. This report covers developments in every region of sub-Saharan Africa, drawing on articles since the […]