Nigeria leads Africa’s nearly 1,000bps September rate-cut wave
African central banks delivered nearly 1,000 basis points of interest-rate cuts last month, led by Nigeria’s aggressive 350-basis-point reduction, as read more Nigeria leads Africa’s nearly 1,000bps September rate-cut wave
The foreign ministers of South Africa and the United States have been exchanging harsh words, signaling a significant deterioration in diplomatic relations. South Africa's Ronal Lamola has publicly doubted the necessity of US Ambassador Leo Brent Bozell III's position, indicating the lack of goodwill between Pretoria and the Trump administration.
This tension has been building for nearly two years, leading to fears of further economically damaging actions from Washington, such as the recent imposition of visa restrictions on unnamed South African officials.
Bozell, in response, declared that Washington has "run out of patience" and that the time for diplomacy has passed. In a pointed remark, Lamola challenged Bozell, stating that if the ambassador is weary of dialogue, he should "get out of the kitchen," implying that it is inappropriate for a diplomat to dismiss ongoing conversations. South Africa has lodged two public protests against Bozell in the past seven months, accusing him of interfering in domestic politics.
The Trump administration has been pressuring Pretoria on issues related to race-based policies aimed at addressing the legacy of apartheid. Priyal Singh, an analyst at the Institute for Security Studies in Johannesburg, predicts that the ongoing disagreements will persist until the US midterms in November. She notes that falsehoods suggesting that white South Africans are facing persecution have found a receptive audience among President Donald Trump's conservative base, ensuring that the sparring will continue.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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