Trump’s second term may unleash a new wave of acquisitions, and mid-cap stocks could be in the crosshairs of acquirers.



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The stock market surged higher following Donald Trump’s election win earlier last year as Wall Street celebrated the new business-friendly administration and the more lenient regulatory environment it is expected to bring.



Under the Biden administration, dealmaking has been sluggish due in part to an aggressive antitrust approach from the Federal Trade Commission headed up by Chair Lina Khan. A year-and-a-half Federal Reserve rate hiking campaign also slowed the pace of deals. Trump, however, has made it no secret that he wants to overhaul government departments, and once he takes office in January, a change in the FTC seems like it will be among his first orders of business. Plus, the Fed started cutting rates in September.



Dealmakers and corporate lenders are expecting a second Trump term to usher in a new era of merger and acquisition activity, while Wall Street now expects that under Trump, stalled deals like the Kroger-Albertsons grocery merger could get the green light.



Recent interest rate cuts from the Federal Reserve have lowered the cost of capital for companies to do deals, particularly those involving debt. The dollar-volume of M&amp;A activity in 2025 will rise 20%, compared to a 15% decline this year, says Goldman Sachs’ chief U.S. equity strategist, David Kostin.



“A tidal wave of tech M&amp;A and overall deal activity could now be on the horizon with Trump in the White House,” says analyst Dan Ives at Wedbush.



Public company CEOs have also lauded what they see as a more favorable outlook for dealmaking. Warner Bros. Discovery CEO David Zaslav told analysts on a call earlier this month that the new Trump administration would be beneficial for business consolidation.



Andrew Peck, co-chief investment officer at $43 billion Baron Capital, predicts that sectors like healthcare, consumer staples and especially technology—where larger companies are sitting on big cash piles—are ripe for M&amp;A activity. CFRA Chief Investment Strategist Sam Stovall agrees about healthcare and consumer staples but adds to the list depressed sectors like industrials and materials. Bank of America says that just about any company with positive cash flow, above-average sales growth and low debt levels are takeover candidates.



Mid-caps, which range in market capitalization from about $2 billion to $10 billion, have been the stock market’s sweet spot since the turn of the century, with the S&amp;P Midcap 400 Index posting total returns 39% higher than both the large cap S&amp;P 500 Index and Russell 2000 Small Cap Index. An investment of $10,000 in May 2000 in the MDY exchange traded fund that tracks the S&amp;P 400 has mushroomed into a value of $92,260. By comparison, $10,000 invested in the SPY, which mirrors the S&amp;P 500, and IWM, which tracks the Russell 2000, grew into $65,560 and $66,430, respectively.



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<abbr>F</abbr>orbes decided to hunt&nbsp;for acquisition candidates among under-the-radar mid-cap stocks by selecting companies appealing to potential acquirers interested in both growth and value.



In screening for top targets in the growth category,&nbsp;Forbes&nbsp;used the following metrics: Companies with a market range of between $2 billion and $15 billion, closely approximating the typical range for mid-cap stocks. These companies are big enough to exert competitive pressure on larger cap companies in their industry, spurring takeover interest. They are also small enough to be easily digestible for larger companies, and for private equity firms and Warren Buffett-style investors in search of well-run businesses that produce consistent and rising cash flows. There are more than 10,000 private equity firms globally and according to an S&amp;P Global report earlier this year, they are sitting on a record $2.6 trillion in dry powder.



For our mid-cap growth candidates, we required stocks to have more than a 7% increase in current-year earnings per share and revenue. We also required a return on invested capital (ROIC) of at least 15%, a calculation used to determine how well a company allocates money to profitable projects or investments. For the value category, we additionally required shareholder yield of greater than 4% but dropped the requirement for 7% current year growth in earnings per and revenue.



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Onboth lists&nbsp;we also considered enterprise value divided by earnings before interest, taxes, depreciation, and amortization—a metric widely used by acquiring firms that looks at the amount of cash flow generated if you were to buy all of a company’s stock and assume all of its debt. Finally, we then ranked both lists by ROIC and took the 10 stocks ranking highest in that metric.



Top of both the growth and value lists was Dropbox, the $8.5 billion (market capitalization) cloud storage company. Though shares are down some 7% this year, Dropbox boasted an impressive 55.6% return on invested capital, meaning that management has had a good track record of investing in profitable projects.



On our value list, the top performers were all in the consumer staples sector, though their share prices have largely been flat this year. These include retailer Bath &amp; Body Works, department store chain Dillard’s and footwear brand Crocs, which boasted a 37%, 28% and 26% return on invested capital, respectively.



The top targets in our growth list, meanwhile, include the likes of home service plan provider Frontdoor, radiopharmaceutical company Lantheus Holdings and clothing retailer Abercrombie &amp; Fitch. Many of these stocks have seen share prices jump higher in 2024 on the back of solid earnings growth: Lantheus is up 20% while Abercrombie &amp; Fitch and Frontdoor have both risen more than 50%.



“Regulatory shifts may open doors but won&#8217;t fundamentally change what makes a good deal good, and while a potential administration change could ease regulatory scrutiny, factors like higher interest rates could offset any surge in deal activity,” cautions Kurt Havnaer, manager of the Jensen Quality Mid Cap (JNVIX) mutual fund. “Looking ahead, acquirers will likely remain selective, focusing on deals that create tangible shareholder value through revenue synergies, market expansion, and operational efficiencies.



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Donald Trump Campaigns For President In Raleigh, North Carolina

Wall Street Expects A Dealmaking Boom Under Trump. These 20 Stocks Are Prime Targets

<h2 class="wp-block-heading" id="h-topline"><a href="https://www.forbes.com/"></a><a href="https://www.forbes.com/search/"></a>Topline</h2>



President-elect Donald Trump on Wednesday named ex-Democratic Rep. Tulsi Gabbard as his director of national intelligence, praising her experience as a veteran and her “broad support in both Parties” when announcing her appointment, even as Gabbard has blasted Democrats since leaving the party and emerged as a controversial figure on foreign policy matters.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



Gabbard—who served in the House representing Hawaii from 2013 to 2021 and briefly ran for president as a Democrat in 2020—<a href="https://www.forbes.com/sites/mollybohannon/2024/08/26/ex-democratic-candidate-tulsi-gabbard-endorses-trump/">endorsed</a>&nbsp;Trump in August and joined his&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/08/27/trump-putting-rfk-jr-and-tulsi-gabbard-on-transition-team/">transition team</a>&nbsp;shortly after.



Gabbard left the Democratic Party in 2022 to become an independent, saying at the time that Democrats were an “elitist cabal of warmongers driven by cowardly wokeness,” before&nbsp;<a href="https://nypost.com/2024/10/22/us-news/former-dem-rep-tulsi-gabbard-announces-shes-joined-republican-party-at-trump-rally/" rel="noreferrer noopener" target="_blank">joining</a>&nbsp;the Republican Party this October.



Gabbard has long been a critic of U.S. foreign policy—recently criticizing U.S.&nbsp;<a href="https://x.com/TulsiGabbard/status/1848480251023868237" rel="noreferrer noopener" target="_blank">aid</a>&nbsp;to Ukraine—and The&nbsp;<a href="https://www.nytimes.com/2024/11/13/us/politics/trump-tulsi-gabbard-director-national-intelligence.html" rel="noreferrer noopener" target="_blank">New York Times reported</a>&nbsp;her selection as director of intelligence indicates Trump’s intention to give foreign policy roles to those “deeply skeptical of the effectiveness of U.S. military intervention abroad.”



She drew criticism in 2017 after she quietly visited Syria and met with President Bashar al-Assad,&nbsp;<a href="https://www.cnn.com/2017/01/25/politics/tulsi-gabbard-lead-syria/index.html" rel="noreferrer noopener" target="_blank">saying</a>&nbsp;at the time she did so “because I felt that it’s important that if we profess to truly care about the Syrian people, about their suffering, then we’ve got to be able to meet with anyone that we need to if there is a possibility that we can achieve peace.”



Two years later, during her presidential run, Gabbard&nbsp;<a href="https://www.politico.com/story/2019/03/10/tulsi-gabbard-assad-syria-1214882" rel="noreferrer noopener" target="_blank">refused</a>&nbsp;to call him a war criminal and&nbsp;<a href="https://www.cnn.com/2019/02/06/politics/tulsi-gabbard-syria-assad/index.html" rel="noreferrer noopener" target="_blank">said</a>&nbsp;he was “not the enemy of the United States because Syria does not pose a direct threat to the United States.”



Gabbard also did not give a direct answer when asked if she would trust the U.S. intelligence community if she were elected,&nbsp;<a href="https://www.politico.com/story/2019/03/10/tulsi-gabbard-assad-syria-1214882" rel="noreferrer noopener" target="_blank">saying</a>, “We have, in our recent past, a situation where our own government told lies to the American people, and to the United Nations for that matter, to launch a war,” referencing the 2003 invasion of Iraq.



Gabbard was a member of the Hawaii National Guard and was deployed to Iraq in 2005, and said she endorsed Trump in part because she said he sees “war as a last resort” and “understands the grave responsibility that a president” bears for the lives of those serving their country.”



<h2 class="wp-block-heading" id="h-what-does-the-director-of-national-intelligence-do">What Does The Director Of National Intelligence Do?</h2>



If confirmed by Congress, Gabbard would be responsible for overseeing the implementation of the National Intelligence Program and acting as the main adviser to Trump, the National Security Council and the Homeland Security Council on intelligence matters tied to national security. Gabbard would oversee 18 different spy agencies, The&nbsp;<a href="https://www.nytimes.com/2024/11/13/us/politics/trump-tulsi-gabbard-director-national-intelligence.html" rel="noreferrer noopener" target="_blank">New York Times reported</a>, and would also prepare a daily briefing for Trump—which he reportedly did not often read in his first term. John Ratcliffe—who Trump recently named as his pick for the director of the CIA—served as the director of intelligence during Trump’s first term.



<h2 class="wp-block-heading" id="h-crucial-quote">Crucial Quote</h2>



Gabbard, in a&nbsp;<a href="https://x.com/TulsiGabbard/status/1856798431605657969" rel="noreferrer noopener" target="_blank">tweet</a>, thanked Trump “for the opportunity to serve as a member of your cabinet to defend the safety, security and freedom of the American people.”



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



Since leaving the Democratic Party, Gabbard has been a frequent guest on conservative news outlets and vocally critical of Democrats,&nbsp;<a href="https://time.com/7096376/tulsi-gabbard-democrat-republican-political-evolution-history-trump/" rel="noreferrer noopener" target="_blank">calling</a>&nbsp;Trump’s opponent Vice President Kamala Harris “anti-freedom … pro-censorship … pro-open borders … pro-war without even pretending to care about peace.” She was rumored to be in the running to be Trump’s running mate, and said in May she would “be honored” to do so. After endorsing Trump this year, she helped him prepare for his debate against Harris, which the Trump team said was in part because she “successfully dominated Kamala Harris on the debate stage in 2020.”



<h2 class="wp-block-heading" id="h-news-peg">News Peg</h2>



Trump has been steadily announcing his&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/11/13/trumps-cabinet-here-are-his-picks-for-key-roles-stephen-miller-elon-musk-pete-hegseth-and-more/">cabinet picks</a>&nbsp;since winning the election. Other notable appointments so far include billionaires Elon Musk and Vivek Ramaswamy to lead the new “Department of Government Efficiency,” Pete Hegseth as secretary of defense and Rep. Matt Gaetz, R-Fla., as attorney general.



<h2 class="wp-block-heading" id="h-surprising-fact">Surprising Fact</h2>



If confirmed, Gabbard will replace Avril Haines, who was sworn in under President Joe Biden in 2021 and became the first woman to lead the U.S. intelligence community.

Republican Presidential Nominee Donald Trump Campaigns In Pennsylvania

What To Know About Tulsi Gabbard—Former Democrat Named Trump’s Director Of National Intelligence

The FBI has been notified of evidence of hacking on the iPhones of two senior officials at one of the presidential campaigns. Sources say the agency is pursuing a lead related to a Chinese hacking group.



The FBI is investigating whether China used its access to American telecoms networks to infect the iPhones of senior staff of a U.S. presidential campaign, according to a cybersecurity expert involved in protecting the officials’ devices.



Rocky Cole, the founder of mobile security startup iVerify, told&nbsp;Forbes&nbsp;his company’s software flagged anomalous behavior on two iPhones that belonged to senior officials for one of the presidential campaigns. He declined to specify which one.



Cole, a former NSA analyst and Google employee, said iVerify detected settings on staff iPhones were changed “in patterns that are not observed on healthy devices.” Previously, mobile malware developed by government hacking groups have changed settings in the same manner, he said. “That does not mean the devices were definitively compromised, but this information combined with who owned the devices and the timelines of the events were enough to merit a robust investigation, which is ongoing,” Cole told&nbsp;Forbes.



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“The Trump administration will need to hit the ground running on countering the recent uptick in cyber activity.”Chris Krebs, former CISA director
</blockquote>



The FBI confirmed to Cole that one of the impacted iPhones belonged to a target of a Chinese cyber espionage group referred to as Salt Typhoon, he said. According to reports in the&nbsp;<a href="https://www.wsj.com/politics/national-security/chinese-hackers-targeted-phones-of-trump-vance-and-harris-campaign-e04abbdf?mod=article_inline" rel="noreferrer noopener" target="_blank">Wall Street Journal</a>,&nbsp;a number of telecoms giants including AT&amp;T and Verizon had their networks breached by Salt Typhoon, a unit believed to work on behalf of China’s state security service. The paper cited various sources with knowledge of the matter, who claimed the attackers targeted the communications of President Trump, his running mate JD Vance and individuals working on the president Kamala Harris campaign. Neither the Harris nor Trump campaigns responded to requests for comment.



“The timeline of the anomalous behavior aligned with Salt Typhoon&#8217;s behavior within the Verizon network,” said Cole. “We have to assume China would do more with their position on the Verizon infrastructure than simply listen to phone calls. It&#8217;s an attractive position for deeper exploitation of adjacent networks and devices. For that reason, there is an ongoing investigation to determine whether those devices were actually breached.” His company was tasked with protecting officials’ iPhones through its work with the Defending Digital Campaigns nonpartisan nonprofit, which provides candidates and staff with access to free cybersecurity tools.



If the FBI finds a candidate or one of their staff had their iPhones hacked, it would be a significant breach. Infecting a smartphone allows for wider access to information on a target compared to what would be compromised via telecoms networks. Such malware would potentially have access to the phone’s microphone, calls and texts, encrypted communications, such as messages sent over WhatsApp and Signal, and to more private information stored on health and dating apps, as well as detailed location information.



Apple declined to comment. Neither the FBI nor Verizon responded to requests for comment.



Liu Pengyu, a spokesperson for the Chinese Embassy in Washington D.C., denied it was behind any attacks on the U.S. and had “no&nbsp;intention and will not interfere in the U.S. election,” adding, “In recent years, the U.S. has compiled and spread all kinds of disinformation about the so-called Chinese hacking threats. Such allegations are full of malicious speculations against China, which China firmly opposes.”



American officials and cyber experts believe China is a major cyber threat facing the U.S. Chris Krebs, former chief of the DHS Cybersecurity and Infrastructure Security Agency (CISA), said China should be a top priority for the incoming Trump administration. In November 2020, Trump fired Krebs on Twitter after the ex-CISA head declared that year’s election legitimate and safe from outside influence.



“Given China’s increasingly aggressive behavior in multiple domains, the Trump administration will need to hit the ground running on countering the recent uptick in cyber activity,” said Krebs. “They’ll also need to continue evaluating offensive cyber options… The stakes are crystal clear: China is preparing for war, are we?”

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FBI Investigating Possible China Hack Of Presidential Campaign Officials’ iPhones

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US Election Results Watch Party in China

Election 2024 Live Updates: Trump Wins North Carolina—Leads In 5 Other Swing States

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Vice President Kamala Harris inched ahead of former President Donald Trump by the narrowest of margins in both polling guru Nate Silver and FiveThirtyEight’s final presidential forecasts shortly after midnight on Tuesday, although both projections showed the race for the White House remained a statistical tie on Election Day as both candidates’&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/11/04/election-2024-swing-state-polls-trump-harris-race-deadlocked-on-election-eve-as-pennsylvania-still-tied-updated/">poll numbers</a>&nbsp;in key swing states remained deadlocked.



<h2 class="wp-block-heading">Key Facts</h2>



Silver released his&nbsp;<a href="https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model" rel="noreferrer noopener" target="_blank">final forecast</a>&nbsp;after running 80,000 simulations of the race based on polling data and found that Harris had a 50.015% chance of winning compared to Trump’s 49.985%—effectively a tie—after a minor comeback of sorts by the Democrat who was down 44% to 55% at the start of November.



FiveThirtyEight also&nbsp;<a href="https://projects.fivethirtyeight.com/2024-election-forecast/" rel="noreferrer noopener" target="_blank">released</a>&nbsp;its final forecast for the presidential race winner, giving Harris the slimmest of edges at a roughly 50% chance of winning, compared to Trump’s 49%.



Silver and FiveThirtyEight’s forecasts estimate the probability of either candidate winning, and are separate from polls, which estimate how much of the vote each candidate will get—but many national and swing state polls remain essentially tied, too.



Harris leads Trump 49%-48% with likely voters in the latest&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/11/04/new-forbesharrisx-survey-harris-and-trump-in-near-dead-heat-1-day-before-election/">HarrisX/Forbes poll</a>, which was taken between Wednesday and Friday and has a margin of error of one point, and she’s up 50%-48% in an&nbsp;<a href="https://www.ipsos.com/en-us/harris-and-trump-are-locked-tight-race-1-day-election" rel="noreferrer noopener" target="_blank">Ipsos poll</a>&nbsp;also out Monday.



The vice president has a larger four-point lead (51%-47%) in both a new PBS&nbsp;<a href="https://www.pbs.org/newshour/politics/harris-has-4-point-lead-over-trump-in-final-pbs-news-npr-marist-election-poll" rel="noreferrer noopener" target="_blank">News/NPR/Marist</a>&nbsp;survey and a 50,000-person poll by the&nbsp;<a href="https://sites.tufts.edu/cooperativeelectionstudy/2024/10/28/ces-estimates-on-the-2024-presidential-election/" rel="noreferrer noopener" target="_blank">Cooperative Election Study</a>&nbsp;taken throughout the first 25 days of October.



Some other recent polls show a tighter race: The vice president had a 49%-47% lead in a&nbsp;<a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling" rel="noreferrer noopener" target="_blank">Morning Consult survey</a>, a 49%-46% advantage in an&nbsp;<a href="https://abcnews.go.com/Politics/election-stays-close-final-weekend-dispirited-electorate-poll/story?id=115278707" rel="noreferrer noopener" target="_blank">ABC/Ipsos</a>&nbsp;poll, a 49%-47% edge in an&nbsp;<a href="https://d3nkl3psvxxpe9.cloudfront.net/documents/econTabReport_NgtZTja.pdf#page=10" rel="noreferrer noopener" target="_blank">Economist/YouGov survey</a>&nbsp;and a 50%-49% advantage in a&nbsp;<a href="https://www.cbsnews.com/news/trump-harris-poll-gender-gap/" rel="noreferrer noopener" target="_blank">CBS/YouGov</a>&nbsp;poll last week.



Meanwhile,&nbsp;<a href="https://www.nbcnews.com/politics/2024-election/final-nbc-news-poll-harris-trump-race-neck-neck-significant-gender-gap-rcna178361" rel="noreferrer noopener" target="_blank">NBC News</a>&nbsp;and&nbsp;<a href="https://emersoncollegepolling.com/november-2024-national-poll-trump-and-harris-remain-locked-in-tight-race/" rel="noreferrer noopener" target="_blank">Emerson College</a>&nbsp;polls out Sunday show the two candidates tied at 49%, and a&nbsp;<a href="https://www.yahoo.com/news/final-yahoo-newsyougov-election-poll-trump-pulls-even-with-harris-at-47--but-will-enthusiasm-favor-democrats-144135193.html" rel="noreferrer noopener" target="_blank">Yahoo News/YouGov</a>&nbsp;survey also produces a 47%-47% deadlock, matching up with other recent tied polls by&nbsp;<a href="https://www.nytimes.com/2024/10/25/us/politics/poll-harris-trump-times-siena.html" rel="noreferrer noopener" target="_blank">The New York Times</a>/Siena College,&nbsp;<a href="https://emersoncollegepolling.com/october-2024-national-poll-trump-49-harris-49/" rel="noreferrer noopener" target="_blank">Emerson College</a>&nbsp;and&nbsp;<a href="https://www.cnn.com/2024/10/25/politics/cnn-poll-harris-trump/index.html" rel="noreferrer noopener" target="_blank">CNN/SSRS</a>.



The widely followed Times/Siena poll released late last month represented a decline in support for Harris since the newspaper’s previous poll in early October showed her with a 49%-46% lead over Trump—and the paper called the results “not encouraging” for Harris as Democrats have won the popular vote in recent elections even when they’ve lost the White House.



Trump is ahead 48% to 46% in a&nbsp;<a href="https://www.cnbc.com/2024/10/24/presidential-election-is-a-dead-heat-though-trump-leads-harris-big-on-economy-says-cnbc-survey.html" rel="noreferrer noopener" target="_blank">CNBC survey</a>&nbsp;of registered voters released Oct. 24 (margin of error 3.1), and he leads 47% to 45% in a&nbsp;<a href="https://www.wsj.com/politics/elections/trump-leads-harris-wsj-poll-779f8516?mod=googlenewsfeed" rel="noreferrer noopener" target="_blank">Wall Street Journal</a>&nbsp;registered voter poll out Oct. 23 (margin of error 2.5)—a shift in Trump’s favor since August, when&nbsp;<a href="https://www.wsj.com/politics/elections/trump-harris-poll-august-election-2024-e6fa024e" rel="noreferrer noopener" target="_blank">Harris led</a>&nbsp;47% to 45% in a Journal survey.



Harris erased Trump’s lead over Biden since announcing her candidacy on July 21, though her edge has decreased over the past two months, peaking at 3.7 points in late August, according to FiveThirtyEight’s&nbsp;<a href="https://projects.fivethirtyeight.com/polls/president-general/2024/national/" rel="noreferrer noopener" target="_blank">weighted polling average.</a>



<h2 class="wp-block-heading">Important Reminder: Presidential Polls Have Frequently Been Wrong</h2>



And there is a lot of speculation on how they’re wrong this year—and who that may benefit. Read all about it&nbsp;<a href="https://www.forbes.com/sites/stephenpastis/2024/10/25/heres-how-the-presidential-polls-might-be-wrong/">in this story</a>.



<h2 class="wp-block-heading">Big Number</h2>



1.2 points. That’s Harris’ average lead over Trump in FiveThirtyEight’s&nbsp;<a href="https://projects.fivethirtyeight.com/polls/president-general/2024/national/" rel="noreferrer noopener" target="_blank">polling average</a>. Meanwhile, RealClearPolitics’&nbsp;<a href="https://www.realclearpolling.com/polls/president/general/2024/trump-vs-harris" rel="noreferrer noopener" target="_blank">polling average</a>&nbsp;shows Harris up by 0.1, and Nate Silver has Harris up one point in his&nbsp;<a href="https://www.natesilver.net/p/nate-silver-2024-president-election-polls-model" rel="noreferrer noopener" target="_blank">Silver Bulletin forecast</a>.

Americans Go To The Polls In The 2024 Elections

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In a surprising turn of events, Botswana’s President Dr Mokgweetsi E.K Masisi conceded defeat after the country rejected its longest-serving governing party, the Botswana Democratic Party (BDP) in the parliamentary elections held on October 30.



As per <a href="about:blank">reports</a>, Masisi’s conceding came in hours before the final results were announced. The BDP, which has governed the southern African country since 1966, stood at fourth place in the polls.



Voters took to the ballot across the diamond-rich country as Masisi, who has been President since 2018, sought to be re-elected for a second and final term in office.



The country has had its share of economic challenges.



Insights by <a href="https://www.coface.com/news-economy-and-insights/business-risk-dashboard/country-risk-files/botswana">Coface </a>(global provider of trade credit insurance, business information and debt collection) indicate long-standing issues of inadequate infrastructure (water and electricity production and distribution) and high unemployment rates, particularly among the youth – of about 23.4% in 2023. In 2022, the poverty rate was also relatively high at 14.5%.



Reverend Prince Dibeela, a political activist and President of the Botswana Labour Party, told AP News that this is the first time in more than four decades that “the state coffers are negative”.



“There are also more than 200,000 young people who are employable but cannot find work. We are a very fragmented society.”



“I will respectfully step aside and participate in a smooth transition process ahead of inauguration,” Masisi told a press conference on Friday in the country’s capital Gaborone. “I wish to congratulate the opposition on their victories and concede the elections. I am proud of our democratic processes and I respect the will of the people.”



Duma Boko, President of Umbrella for Democratic Change (UDC), emerged victorious in what has been described an overwhelming lead in the election. A lawyer by profession, taking part in the elections for the third time, Boko had continuously urged voters to stay at voting stations.



&#8220;Counting centres remain places of further rigging and we should not let up. Do not leave the Independent Electoral Commission (IEC) and police officers with boxes (ballot) during breaks. We will celebrate once the job is complete, not now. It is not over yet until the final ballot is counted,&#8221; he said in a statement, according to News24.



“We got it wrong big time in the eyes of the people,” Masisi told the press. “We were really convinced of our message. But every indication, by any measure, is that there’s no way that I can pretend that we’re going to form a government.”



Masisi said in an <a href="about:blank">audio</a> with Boko that he will start the process of a handover tomorrow, “and you can count on me to always be there to provide whatever guidance you might want.”



State television reported results showed that from 55 of the 61 constituencies up for grabs, the UDC won 32 seats in parliament.

BOTSWANA-VOTE

Masisi Concedes Massive Defeat: Boko Wins In Landmark Botswana Election Ending 58 Years Of BDP Rule

Floyd Shivambu, South Africa’s Economic Freedom Fighters (EFF) Deputy President, today resigned from the party to join the uMkhonto we Sizwe (MK) party. This move represents the largest shakeup in EFF leadership since its formation in 2014 and reflects the shifting nature of opposition parties in light of South Africa’s recent Government of National Unity (GNU) formation following this year’s elections.



EFF President Julius Malema acknowledged the resignation in an urgent press briefing held in Johannesburg and attended by FORBES AFRICA, stating, “When he sent me a letter yesterday, I felt the pain… resigning from the EFF is like resigning from himself.”



Shivambu has long been a staunch supporter of Malema, co-founding the EFF alongside him. His exit to the MK party may herald a larger exodus of his loyalists, with at least one other EFF Member of Parliament, Mzwanele Manyi, also tendering his resignation in favor of joining MK.



Rumors of Shivambu’s potential resignation began swirling on social media late last night, quickly becoming the top trend on X, formerly Twitter, in South Africa. Speculation suggested that the rift was due to Shivambu potentially challenging Malema’s leadership at the EFF’s next conference.



Shivambu’s departure to the uMkhonto we Sizwe party, formed late last year after former President Jacob Zuma broke away from the ruling African National Congress (ANC), is particularly notable. Since MK’s formation and the lead-up to the June elections, several ANC members followed Zuma, leading to a groundswell of populist support. The newly-formed MK party surprisingly captured 14.58% of the national vote.



In response to the surge in support for relatively nascent opposition parties and the significant losses suffered by the ruling ANC, the post-election landscape saw the ANC, opposition Democratic Alliance (DA), and several other parties form GNU.



“My non-renewal of EFF membership is not a vote of no confidence,” said Shivambu during today’s press conference, notably absent his red overalls and beret, the EFF’s uniform. “It is a revolutionary act that will allow progressive forces to unite and work towards their agenda,” he added, seemingly nodding to the newfound circumstances the EFF and MK parties find themselves in since the GNU’s formation. Despite Shivambu’s conciliatory words, a visibly-agitated Malema looked on during the reading of the resignation letter.



Shivambu’s move comes just a week after 18 MK MPs were recalled from Parliament by the organization, many of whom had resigned from previous posts or employment to embrace their new roles — expulsions that have marked the party since former President Zuma assumed leadership of MK in May.



This move represents another unexpected turn in South Africa’s political landscape, with Malema acknowledging the potential impact on the party. “There will be many others who are going to leave the EFF because they’ve got their loyalty and support for the deputy president,” Malema remarked.



Shivambu declined to elaborate on his reasons for leaving, stating, “I don’t entertain rumors and speculations.”



The departure of a key figure like Shivambu could have profound implications for the future of South Africa’s opposition politics. With the MK party gaining traction and the EFF facing internal challenges, the balance of power among opposition parties is likely to shift, potentially altering the dynamics within the GNU. As these developments unfold, the future of South Africa’s political landscape will hinge on how these parties navigate their evolving roles, their ability to unite their bases, and the impact this will have on governance and stability in the country. The emergence of new



political alliances and realignments could shape the course of South Africa’s democracy in the years to come.

EFF Party Holds Press Conference As Deputy Leader Resigns

Political Shift As South African Opposition Party Economic Freedom Fighters Sees Deputy President Exit

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Vice President Kamala Harris has chosen Minnesota Gov. Tim Walz to serve as her running mate in the 2024 presidential race—as Harris tries to gain ground on former President Donald Trump with just over three months until the November election.



<h2 class="wp-block-heading">Key Facts</h2>



Harris announced she asked Walz to be her running mate in an&nbsp;<a href="https://www.instagram.com/p/C-VNhQYO01b/?hl=en" rel="noreferrer noopener" target="_blank">Instagram post</a>&nbsp;Tuesday, shortly after multiple news outlets reported on the decision, praising Walz’ “convictions on fighting for middle class families” and saying what impressed her most was his “deep commitment to his family.”



Walz&nbsp;<a href="https://x.com/Tim_Walz/status/1820830898494791955" rel="noreferrer noopener" target="_blank">accepted the offer</a>&nbsp;Tuesday morning, calling it the “honor of a lifetime,” and adding: “Vice President Harris is showing us the politics of what’s possible. It reminds me a bit of the first day of school.”



Walz, the 60-year-old father of two and Nebraska-born governor of Minnesota had emerged as a vice presidential frontrunner, along with Pennsylvania Gov. Josh Shapiro and several others in the weeks leading up to the decision.



Harris’ campaign reportedly vetted about a dozen contenders, and her&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/08/05/kamala-harris-vp-shortlist-announcement-expected-tuesday-reports-say/">rumored list</a>&nbsp;was whittled to Walz and Shapiro in the hours leading up to the announcement, which was widely expected to happen Tuesday after Democratic delegates concluded voting for the party’s nominee Monday, with 99% selecting Harris.



While not at the forefront of national politics, Walz established himself as a moderate Democrat in Congress—where he served as a representative for Minnesota from 2007 to 2019—and as the governor of Minnesota, a role he’s held since 2019, where he also&nbsp;<a href="https://democraticgovernors.org/about/" rel="noreferrer noopener" target="_blank">serves as chair</a>&nbsp;of the national Democratic Governors Association.



Walz is seen as an appealing option for independents and moderate Democrats as a working-class politician with a rural background, who exudes the appearance of “someone with a lived experience that is so comparable to so many of the people in rural America,” former Sen. Heidi Heitkamp, D-N.D., told&nbsp;<a href="https://www.nytimes.com/2024/07/29/us/tim-walz-minnesota-kamala-harris.html" rel="noreferrer noopener" target="_blank">The New York Times</a>&nbsp;last week.



Before running for office, Walz, a graduate of Chadron State College in Nebraska, served in the Army National Guard, and then worked as a teacher, first on the Pine Ridge Indian Reservation in South Dakota, where he met his wife Gwen, a fellow teacher, and then in China and later as a high school teacher in Mankato, Minnesota, south of Minneapolis.



Walz initially entered politics as a member of former Massachusetts Sen. John Kerry’s 2004 presidential campaign, a spot he took after he said some of his high school students were questioned for having a Kerry sticker when he took them to a campaign rally for then-president George W. Bush,&nbsp;<a href="https://www.minnpost.com/national/2024/07/who-is-minnesota-governor-tim-walz-one-of-the-top-contenders-for-vice-president/" rel="noreferrer noopener" target="_blank">MinnPost</a>&nbsp;reported.



As governor, some of Walz’ political accomplishments include ensuring&nbsp;<a href="https://mn.gov/governor/newsroom/press-releases/?id=1055-570080" rel="noreferrer noopener" target="_blank">tuition-free meals</a>&nbsp;at participating state universities, enshrining&nbsp;<a href="https://mn.gov/governor/newsroom/press-releases/?id=1055-575115#:~:text=Governor%20Tim%20Walz%20today%20signed,affirming%20health%20care%20in%20Minnesota." rel="noreferrer noopener" target="_blank">abortion rights</a>&nbsp;into state law, banning conversion therapy and providing protections for gender-affirming healthcare—Walz recently defended those measures against right-wing criticism in a&nbsp;<a href="https://www.youtube.com/watch?reload=9&amp;v=Y0v3LumeXpI" rel="noreferrer noopener" target="_blank">CNN</a>&nbsp;interview earlier this month, joking: “What a monster! Kids are eating and having full bellies so they can go learn and women are making their own healthcare decisions.”



Walz also signed a bill last May <a href="https://mn.gov/governor/newsroom/press-releases/?id=1055-567631" target="_blank" rel="noreferrer noopener">expanding voting rights</a> in Minnesota for an estimated 55,000 formerly incarcerated residents, and in 2020, oversaw the state’s response to both the COVID-19 pandemic and police brutality protests in the wake of George Floyd’s death at the hands of police, though he <a href="https://www.startribune.com/minnesota-senate-gop-report-blames-gov-tim-walz-mayor-jacob-frey-for-slow-riot-response/572729221/" target="_blank" rel="noreferrer noopener">faced criticism</a> from state Republicans over his delayed response to protests following Floyd’s killing.



<h2 class="wp-block-heading">What To Watch For</h2>



Walz and Harris will make their first joint appearance at 5:30 p.m. ET on Tuesday in Philadelphia.



<h2 class="wp-block-heading">Chief Critics</h2>



Walz has faced backlash from Minnesota Republicans largely over his actions to protect gender-affirming care—a topic that has become central on GOP tickets. John Helmberger, the CEO of Christian conservative group Minnesota Family Council, <a href="https://www.cbsnews.com/minnesota/news/gov-walz-signs-executive-order-providing-legal-protections-for-gender-affirming-care/" target="_blank" rel="noreferrer noopener">argued</a> Walz’s executive order to protect gender-affirming care “victimizes vulnerable young people.” In the weeks leading up to the nomination announcement, Walz also <a href="https://www.startribune.com/tim-walz-weird-trump-vance-vivek-ramaswamy/600387271/" target="_blank" rel="noreferrer noopener">sparked Republican outrage</a> after he referred to “weird people on the other side,” and criticized Trump’s laugh and apparent obsession of Hannibal Lecter as “weird.” In response, former GOP presidential candidate Vivek Ramaswamy <a href="https://x.com/VivekGRamaswamy/status/1817722684089713119" target="_blank" rel="noreferrer noopener">called</a> the “weird” argument “dumb &amp; juvenile,” while Donald Trump. Jr. <a href="https://x.com/DonaldJTrumpJr/status/1817674885885313490?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1817674885885313490%7Ctwgr%5E03a05bc6dc99543bf44846801ec9e56fd5819abe%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.startribune.com%2Ftim-walz-weird-trump-vance-vivek-ramaswamy%2F600387271%2F" target="_blank" rel="noreferrer noopener">responded</a> to claims that Trump running mate JD Vance is “weird” with a video posted of Harris with a drag queen.



<h2 class="wp-block-heading">What Has Trump Said About Walz?</h2>



The Trump campaign attacked Walz in a&nbsp;<a href="https://x.com/TeamTrump/status/1820825907839586651" rel="noreferrer noopener" target="_blank">video</a>&nbsp;after Harris announced him as her running mate, labeling him as a “left-wing extremist.” Trump’s campaign spokesperson Karoline Leavitt also slammed Walz, saying it’s “no surprise that San Francisco Liberal Kamala Harris wants West Coast wannabe Tim Walz as her running mate,” claiming Walz has tried to “reshape Minnesota in the image of the Golden State.”



<h2 class="wp-block-heading">Who Has Supported Walz As Harris’ Running Mate?</h2>



Former Obama strategist David Axelrod argued Walz is “running the most aggressive campaign” for vice president, in a&nbsp;<a href="https://x.com/davidaxelrod/status/1818097503394517456" rel="noreferrer noopener" target="_blank">post</a>&nbsp;on X. Sources close to Harris have also lauded Walz in the run-up to the decision: One person close to Harris’ campaign told&nbsp;<a href="https://www.politico.com/news/2024/07/29/tim-walz-kamala-harris-vp-pick-00171746" rel="noreferrer noopener" target="_blank">Politico</a>&nbsp;Walz is “doing an exceptional job,” saying he has “the Midwest grit” and an appeal that “goes beyond the Midwest,” and adding he’s more aggressive than vice presidential hopeful Sen. Mark Kelly of Arizona. Other supporters include Rep.&nbsp;<a href="https://x.com/AngieCraigMN/status/1816205979660255410" rel="noreferrer noopener" target="_blank">Angie Craig</a>, D-Minn., a group of&nbsp;<a href="https://thehill.com/homenews/campaign/4800359-kamala-harris-josh-shapiro-andy-beshear-tim-walz/" rel="noreferrer noopener" target="_blank">50 progressive lawmakers</a>&nbsp;and the Gen Z focused left-wing Won’t PAC Down political action group, whose director Travis Helwig told Politico Walz “helps quell some of the fears of the ‘San Francisco liberal’ that Republicans have.”



<h2 class="wp-block-heading">Will Walz’ Minnesota Connection Help Harris In November?</h2>



Presidential candidates have a long history of strategically choosing running mates in swing states or candidates who appeal to certain voters in hopes of gaining ground in the presidential election. This November, Minnesota will be a critical swing state for Harris, one of seven key states Biden won in 2020 that polls have shown to be close matches in 2024, along with Arizona, Georgia, Michigan, Nevada, Pennsylvania and Wisconsin. A <a href="https://www.foxnews.com/official-polls/fox-news-poll-harris-bests-trump-6-points-minnesota" target="_blank" rel="noreferrer noopener">Fox News poll</a> conducted late last month found Harris leading Trump in Minnesota by six points (52%-46%) in a head-to-head match—Harris leads Trump 47%-41% in the poll when including third-party candidates such as independent Robert F. Kennedy Jr. (7%). That lead marks a turnaround for the Democratic ticket in Minnesota: <a href="https://emersoncollegepolling.com/june-2024-state-polls-trump-maintains-edge-over-biden/" target="_blank" rel="noreferrer noopener">An Emerson College poll</a> released one week before Biden’s disastrous debate performance found the incumbent tied 45%-45% with Trump (10% undecided). Harris trails behind Trump in the four other swing states (Arizona, Georgia, Nevada and Wisconsin), according to <a href="https://www.forbes.com/sites/saradorn/2024/07/29/trump-harris-swing-state-polls-michigan-pennsylvania-tied-in-latest-survey/">recent polls</a>, and the two are tied in Michigan and Pennsylvania, according to Fox News’ poll.



<h2 class="wp-block-heading">Tangent</h2>



Since launching her campaign, Harris has landed&nbsp;<a href="https://www.forbes.com/sites/allisonbeck/2024/07/23/key-leaders-schumer-and-jeffries-endorse-kamala-harris-for-president-joining-these-major-democrats-full-list/">major endorsements</a>&nbsp;from Democrats, including former President Bill Clinton, former Secretary of State Hillary Clinton, Senate Majority Leader Chuck Schumer, D-N.Y., House Minority Leader Hakeem Jeffries, D-N.Y., and Rep. Nancy Pelosi, D-Calif. One of her biggest endorsements came last week from former President Barack Obama. Sources close to Obama had said the former president wanted to wait until after Biden’s Oval Office address last week to make the announcement, and wanted his public endorsement to stand on its own,&nbsp;<a href="https://www.nbcnews.com/politics/2024-election/obama-plans-endorse-harris-president-soon-rcna163279" rel="noreferrer noopener" target="_blank">NBC News</a>&nbsp;reported. Another source told&nbsp;<a href="https://www.nytimes.com/2024/07/21/us/politics/why-obama-hasnt-endorsed-harris.html" rel="noreferrer noopener" target="_blank">The New York Times</a>&nbsp;Obama wanted to wait until Harris was officially named the party nominee, a process that could unfold as early as Aug. 1, following a&nbsp;<a href="https://www.cnn.com/2024/07/24/politics/democrats-rules-kamala-harris-nomination/index.html" rel="noreferrer noopener" target="_blank">rules change</a>&nbsp;approved by the Democratic National Convention’s rules panel last week (party nominees are typically chosen by delegates at the Democratic National Convention after the conclusion of the primary cycle).



<h2 class="wp-block-heading">Key Background</h2>



Even before his disastrous performance in a June 27 debate against former President Donald Trump, Biden—the oldest president in U.S. history—had faced questions over his age, perhaps most prominently after the release of a Department of Justice special counsel&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2024/02/08/heres-how-bidens-memory-has-faded-according-to-classified-documents-report/?sh=798eac961394">report</a>&nbsp;in February that found multiple cases of Biden’s memory failing. Those concerns ramped up substantially after CNN’s presidential debate, a 90-minute affair that resparked mounting concerns over Biden’s advanced age and potential cognitive decline. Facing calls from donors, lawmakers and pundits to step down, Biden ultimately&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/07/21/biden-drops-out-as-democratic-presidential-candidate/">announced</a>&nbsp;on Sunday he would end his reelection bid, and quickly endorsed Harris for president. Harris became the presumptive nominee the next day after swiftly amassing the support of enough delegates to clinch the nomination.

Minnesota Governor Walz Highlights New Gun New Legislation

Kamala Harris Picks Tim Walz As Running Mate: Here’s What To Know About Him

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



President Joe Biden announced Sunday he will end his 2024 presidential campaign, saying he believes “it is in the best interest of my party and the country to stand down.”



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



Biden stepped down after more than three dozen&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/07/19/every-big-name-urging-biden-to-drop-out-third-senator-joins-30-other-congressional-democrats/">Democrats in Congress</a>&nbsp;urged him to do so, and after a&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/07/18/biden-pressure-grows-top-dems-think-hell-drop-out-within-days-report-says/">flurry of reports</a>&nbsp;that Democratic leaders in Congress were working behind the scenes to push Biden to end his bid.



Biden has faced questions for months about whether he is too old to serve another term, but the party largely stood behind him until his disastrous June 27 debate performance, when Biden often appeared bewildered, gave disjointed answers and spoke in a soft, raspy voice—leading to an onslaught of backlash from pundits, major newspapers, celebrities, donors and elected Democrats.



Biden’s decision to leave the race at this stage in the election cycle is unprecedented in modern politics and sets up a mad dash to choose his replacement, just weeks before the party is set to formally choose its nominee in a virtual roll call the first week of August.



<h2 class="wp-block-heading" id="h-when-will-a-new-nominee-be-chosen">WHEN WILL A NEW NOMINEE BE CHOSEN?</h2>



Democrats plan to hold a virtual roll call to formally select their nominee as soon as Aug. 1 and before Aug. 7, ahead of the party’s Aug. 19 convention. The party initially planned the early roll call to ensure Biden would be on the ballot in Ohio, which previously required nominees to be confirmed 90 days before the election. Ohio has since revised its law, but it doesn’t take effect until Sept. 1, so Democrats have said they will move forward with the early nomination anyway.



<h2 class="wp-block-heading" id="h-how-will-democrats-replace-biden">HOW WILL DEMOCRATS REPLACE BIDEN?</h2>



The approximately 4,700 Democratic delegates will choose a new candidate by majority vote. About 4,000 delegates are “pledged” to Biden, but by stepping down, he effectively releases them from their obligation to vote for him. The 700 “unpledged” delegates—also known as superdelegates and can vote for whoever they please—are allowed to vote in a second round if a candidate does not secure the majority votes needed to win in the first round.



<h2 class="wp-block-heading" id="h-what-is-an-open-convention">WHAT IS AN OPEN CONVENTION?</h2>



An open convention would occur if multiple candidates are presented to delegates at the convention, and Biden hasn’t endorsed a replacement, leaving his delegates free to vote for anyone.



<h2 class="wp-block-heading" id="h-what-is-a-mini-primary">WHAT IS A ‘MINI-PRIMARY’?</h2>



The process of choosing a new nominee isn’t exactly clear, but some have floated a “mini primary” involving a series of campaign events—such as debates, high-profile interviews or town halls—between potential Biden replacements prior to delegates casting their votes. Rep. James Clyburn, D-S.C., has said he would support Harris as the nominee if Biden dropped out and the party coalesced around her, but he has also suggested Democrats could conduct a “mini primary” to survey other candidates, an idea New York Times columnist&nbsp;<a href="https://www.nytimes.com/2024/07/07/opinion/biden-jim-clyburn-democrats.html" rel="noreferrer noopener" target="_blank">Ezra Klein</a>&nbsp;and longtime Democratic political consultant&nbsp;<a href="https://www.nytimes.com/2024/07/08/opinion/biden-democratic-nominee.html" rel="noreferrer noopener" target="_blank">James Carville</a>&nbsp;also endorsed.



<h2 class="wp-block-heading" id="h-who-are-the-top-contenders-to-replace-biden">WHO ARE THE TOP CONTENDERS TO REPLACE BIDEN?</h2>



Harris is the&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/07/18/these-are-the-likely-democratic-presidential-candidates-if-biden-drops-out/">top contender</a>, but other names commonly floated include California Gov. Gavin Newsom, Illinois Gov. J.B.&nbsp;<a href="https://abc7chicago.com/president-joe-biden-documents-doj-report-governor-jb-pritzker/14405259/" rel="noreferrer noopener" target="_blank">Pritzker</a>, Michigan Gov. Gretchen&nbsp;<a href="https://www.wxyz.com/news/democracy-2022/whitmer-says-she-wont-run-for-president-in-2024-if-biden-chooses-not-to-run" rel="noreferrer noopener" target="_blank">Whitmer</a>, Colorado Gov. Jared&nbsp;<a href="https://www.cnn.com/2022/07/11/politics/biden-democratic-primary-challenge-2024/index.html" rel="noreferrer noopener" target="_blank">Polis</a>, and Pennsylvania Gov. Josh&nbsp;<a href="https://www.nbcnews.com/politics/2024-election/pennsylvania-gov-josh-shapiro-biden-trump-brain-fog-2024-rcna125771" rel="noreferrer noopener" target="_blank">Shapiro</a>. Previous Democratic presidential candidates Transportation Secretary Pete Buttigieg and Sens. Cory Booker, D-N.J., and Amy Klobuchar, D-Minn., are also among the potential contenders. No Democrats who have been seriously floated as potential replacements have said they’re interested in the 2024 nomination.



<h2 class="wp-block-heading" id="h-how-is-kamala-harris-polling">HOW IS KAMALA HARRIS POLLING?</h2>



Similar to Biden and slightly better than all other potential replacements surveyed, but still worse than Trump,&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/07/18/heres-how-kamala-harris-performs-in-polls-against-trump-as-she-emerges-as-most-likely-biden-replacement/">according to most surveys</a>. A mid-July&nbsp;<a href="https://d3nkl3psvxxpe9.cloudfront.net/documents/econTabReport_sPu9WiO.pdf" rel="noreferrer noopener" target="_blank">YouGov poll</a>&nbsp;(margin of error 3.1) found Biden would lose to Trump by two points and Harris would lose by three, while a&nbsp;<a href="https://www.ipsos.com/en-us/race-presidency-remains-unchanged-wake-assassination-attempt-trump" rel="noreferrer noopener" target="_blank">Reuters/Ipsos poll</a>&nbsp;found both Biden and Harris are virtually statistically tied with Trump. In a&nbsp;<a href="https://www.cnn.com/2024/07/02/politics/cnn-poll-post-debate/index.html" rel="noreferrer noopener" target="_blank">CNN/SSRS poll</a>&nbsp;(margin of error 3.5) conducted days after the debate, Harris outperformed Biden, and three other potential candidates commonly floated to replace him, in a hypothetical matchup against Trump—but she would still lose to the former president by two points (while Biden would lose to Trump by six points).



<h2 class="wp-block-heading" id="h-what-do-supporters-and-critics-say-about-harris">WHAT DO SUPPORTERS—AND CRITICS—SAY ABOUT HARRIS?</h2>



Several prominent Democrats explicitly mentioned Harris as the most viable option to replace Biden prior to him announcing his resignation from the race. Clyburn has said he believes Harris would do “very well” at the top of the ticket and the party should do everything it can to “bolster” her would-be candidacy. Harris has&nbsp;<a href="https://www.forbes.com/sites/saradorn/2024/07/18/kamala-harris-as-biden-replacement-grows-more-likely-as-he-reportedly-weighs-dropping-out-heres-what-to-know-about-her-record/">downsides</a>, however, including a relatively low approval rating (though it’s likely a direct reflection of Biden’s own low approval rating) and a series of negative stories about her job performance as vice president, including that she’s been largely absent from the public eye. Her record as a state and local prosecutor has also drawn ire from some progressives who have accused her of not doing enough to investigate police misconduct and have pointed out her history of prosecuting marijuana-related offenses. Harris’ views on criminal justice seem to have evolved however, as&nbsp;<a href="https://www.reuters.com/world/us/us-vp-harris-talk-marijuana-reform-white-house-friday-2024-03-15/#:~:text=United%20States-,No%20one%20should%20go%20to%20jail%20for%20'smoking%20weed%2C',Harris%20says%20at%20White%20House&amp;text=WASHINGTON%2C%20March%2015%20(Reuters),others%20pardoned%20for%20marijuana%20convictions." rel="noreferrer noopener" target="_blank">she’s endorsed</a>&nbsp;Biden’s pardoning of federal marijuana-related convictions and she has spoken out against the notion that putting more police in the streets increases public safety. Former Rep. Tim Ryan, D-Ohio, slammed Harris’ detractors in endorsing her to replace Biden in a recent&nbsp;<a href="https://www.newsweek.com/kamala-harris-should-democratic-nominee-president-2024-opinion-1919894" rel="noreferrer noopener" target="_blank">Newsweek op-ed</a>, calling her “a joy to hang out with . . . brilliant, compassionate, engaging, funny and totally down to earth.” Harris, he said, “can energize the electorate and govern effectively.”



This is a developing story. Check back for updates.

President Biden Addresses NAACP Convention In Las Vegas

Biden Drops Out Of 2024 Race—Here’s What Happens Next

South Africa is entering a new political era with the formation of a Government of National Unity (GNU) between the previously ruling African National Congress (ANC) and the opposition Democratic Alliance (DA). This historic coalition, finalized amidst last-minute negotiations, represents a significant compromise from both sides and aims to stabilize governance at both national and provincial levels.



The GNU comes after the ANC, which secured 40.18% of the national vote, lost its parliamentary majority for the first time since the end of apartheid. The DA, with 21.81% of the vote, has agreed to support President Cyril Ramaphosa&#8217;s leadership, marking a shift towards a more collaborative governance model.



The formation of the GNU required substantial compromises from both major parties. The ANC initially proposed a &#8220;confidence and supply agreement&#8221;, which the DA rejected, insisting on what they proposed as a genuine power-sharing arrangement. This insistence led to the inclusion of the phrase &#8220;broadly proportional&#8221; in the final agreement, ensuring fair representation of both parties in the Cabinet.



ANC Secretary-General Fikile Mbalula emphasized the necessity of the GNU, stating, &#8220;This is a remarkable step towards uniting our country and addressing the challenges we face.&#8221; DA leader John Steenhuisen, speaking at the signing of the agreement, highlighted the importance of this collaboration, saying, &#8220;Today marks the beginning of a new era where we put our differences aside for the betterment of all South Africans.&#8221;



In an interview with FORBES AFRICA, Gustavo de Carvalho, a Senior Researcher on African Governance and Diplomacy at the South African Institute of International Affairs (SAIIA), notes that managing these differences will be crucial. &#8220;The ability of these parties to make difficult decisions together and manage the country without always threatening the coalition is essential,&#8221; he says. &#8220;Conflict management tools and mechanisms will be put to the test.&#8221;



In with the Old, Despite the Rise of the New



At the national level, this coalition is expected to bring stability, with President Ramaphosa likely to remain in office. The GNU will also impact provincial governance, especially in KwaZulu-Natal (KZN), Gauteng, and the Northern Cape provinces, where no party holds a clear majority. The DA&#8217;s participation in the GNU is seen as a strategic move to influence policy and governance, potentially stabilizing these regions.



This election also saw the emergence of new political players like Rise Mzansi and ActionSA, which made significant inroads but were overshadowed by the uMkhonto weSizwe Party (MK), led by South Africa’s former President Jacob Zuma. The MK Party quickly became a formidable force, particularly in KZN, where it secured 45.35% of the vote, making it the largest party in the province.



Zuma&#8217;s influence has been pivotal in the MK Party&#8217;s rise. His called for delaying the election results announcement, citing alleged irregularities, underscored the tension and uncertainty surrounding this election. Zuma stated in a press conference, &#8220;No one should declare the results until all concerns are addressed. This is about ensuring fairness and transparency.&#8221;



Coalition Challenges



The GNU, while a groundbreaking move, is essentially a coalition, which has had mixed success at the metro level. Previous coalitions in cities like Johannesburg and Nelson Mandela Bay have faced numerous challenges, including instability and frequent changes in leadership. The effectiveness of the GNU will depend on its ability to navigate these challenges and maintain cohesive governance.



De Carvalho highlighted the ideological differences between the ANC and DA as potential flashpoints. &#8220;There are often spaces where the ANC and DA have been at odds, whether in terms of foreign policy, land reform, or the National Health Insurance. These could become clashing points that affect coalition stability,&#8221; he explains.



The DA&#8217;s insistence on genuine power-sharing rather than a &#8220;confidence and supply agreement&#8221; reflects its determination to avoid being marginalized in the coalition. This stance was evident during the negotiations when the DA demanded the inclusion of &#8220;broadly proportional&#8221; representation in the Cabinet. The DA&#8217;s participation in the GNU is expected to influence provincial governance, potentially leading to more efficient service delivery and better management of resources.



Stability



The success of this coalition government will be closely watched, as it has the potential to set a precedent for future governance models in South Africa. Ramaphosa, in a recent address, acknowledged the importance of this moment, saying, &#8220;We have a unique opportunity to demonstrate that our democracy is strong and capable of adapting to new political realities.&#8221;



De Carvalho pointed out the importance of this administration for both parties. &#8220;This administration is incredibly important for the ANC to show they can maintain their goals and objectives and for the DA to prove they can appeal beyond their traditional voters,&#8221; he says.



The formation of the GNU marks a significant step towards a more inclusive and collaborative political landscape in South Africa. While challenges remain, the commitment of both the ANC and the DA to this new model of governance holds promise for addressing the nation&#8217;s pressing issues and ensuring stability in the years to come.



Provincial Stability



The impact of the GNU will be felt strongly at the provincial level. In provinces like Gauteng and the Northern Cape, where no party holds a clear majority, the coalition government could bring much-needed stability. The DA&#8217;s participation is expected to influence provincial governance, potentially leading to more efficient service delivery and better management of resources.



The MK’s Rise



The rise of the uMkhonto weSizwe Party (MK) has been one of the most significant developments in this election. Led by former President Jacob Zuma, the MK Party has quickly established itself as a major political force, particularly in KwaZulu-Natal. The party&#8217;s success is largely attributed to Zuma&#8217;s influence and his ability to mobilize support among his loyal base.



Zuma&#8217;s contentious statements during the election, including threats to challenge the results, have added to the political tension. However, the MK Party&#8217;s significant share of the vote indicates a shift in the political landscape, with voters seeking alternatives to the traditional powerhouses.



Coalition Challenges



While the GNU is a promising step towards inclusive governance, it is not without challenges. Coalition governments at the metro level have faced numerous issues, including instability and frequent leadership changes. The effectiveness of the GNU will depend on the ability of the ANC and DA to navigate these challenges and work towards common goals.



The framework agreement includes mechanisms for dispute resolution and consensus-building, which will be crucial in maintaining stability. Ramaphosa, in his address, emphasized the importance of these mechanisms, stating, &#8220;We must work together to ensure that our government remains stable and responsive to the needs of our people.&#8221;



De Carvalho also highlighted the importance of perceptions and public opinion. &#8220;The decay in terms of votes for the ANC and the limited growth for the DA shows pressure from the public for changes in governance,&#8221; he says. &#8220;Both parties have a lot to prove in this new administration.&#8221;



The formation of the Government of National Unity marks a new chapter in South Africa&#8217;s political history. While it brings hope for a more inclusive and collaborative governance model, it also presents significant challenges. The commitment of both the ANC and the DA to this new model will be tested in the coming months, as they work to address the nation&#8217;s pressing issues and ensure stability in governance.

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‘Both Parties Have A Lot To Prove’: South Africa’s Unity Government And Challenges Of The New Political Reality

With the country’s democratic voting process set to take place later this week, FORBES AFRICA speaks to several analysts about the mindset of the citizens and what may unfold in the coming days.



As South Africa prepares to head to the polls on May 29, social media has been abuzz with rhetoric and political memes in equal measure. But despite the light-hearted approach to the challenges they face, South Africans know that the decisions made later this week are no laughing matter.



A MarkData poll released by eNCA on May 20, showed that the ruling party is likely to receive 43.4% of the national vote. The figure is slightly higher than that of the Ipsos opinion poll from April that had the ANC attaining 40.2%.



“This is the party which liberated the country, which ended apartheid. This is the party which gave many voters their first house, electrification, running water, the opportunity of freedom. And I think that still lingers for many voters, certainly older voters,” says election analyst, Wayne Sussman, who was involved in the MarkData study.



The past few years have seen the unemployment rate soar, with it standing at 32.9% in the first quarter of 2024, numerous allegations of corruption and obstruction of justice, and 332 days&nbsp;of load shedding in 2023 alone. Yet, the ANC still has a significant element going for them, according to political analyst Asanda Ngoasheng.



“The ANC continues to have the widest range of policies that cover the widest range of South Africans. They have a lot of diverse representation within them.”



Despite the governing party appealing to the broadest sphere of the population, many voters remain undecided as to where to cast their ballot.



“To a large extent, people do not feel close to political parties in the same way as they once did,” explains Collette Schulz-Herzenberg, an associate professor in the department of political science at the Stellenbosch University.



“Party identification has declined across the electorates. There&#8217;s just less people with a party identification. And we know from global studies that party identifiers are more likely to vote because they are motivated to do so.”



“The ANC has hurt the South African electorate so much that they mistrust it,” notes Ngoasheng.



“People don&#8217;t believe the government when it says loadshedding is over or when it says they&#8217;ve solved XYZ. We almost live in a situation of permanently waiting for the other shoe to drop. Even when there is potentially good news, people kind of wait for like, well, what&#8217;s the negative that&#8217;s going to come out of it?”



“What we&#8217;ve seen is that people tend to leave the ANC because they just feel dissatisfied with the performance of the party in government, but they don&#8217;t necessarily switch their vote to an opposition party,” explains Schulz-Herzenberg.



Despite past trends, those contesting the elections — especially first-time candidates — will be hoping the discontent motivates voters to try something new.



“There are 52 parties in the ballot. We’re in a very fragmented environment, and there&#8217;s a scenario that the five biggest parties in Parliament will all go backwards in this election,” Sussman says.



A showdown is expected in KwaZulu-Natal where former President Jacob Zuma is likely to take away votes from both the ANC and EFF with the Umkhonto weSizwe (MK) party.



“MK will be the big story in this election, even if they don&#8217;t reach their potential,” says Sussman. Based on the previously-mentioned MarkData predictions, the party will achieve 46.4% of the provincial vote.



It also remains to be seen whether the DA maintains its national position as the official opposition, or whether a loss of support will pivot the EFF to that spot.



“Rise Mzansi seem to be capturing quite a lot of the middle class vote across the racial line, which is interesting to observe considering that most Africans vote along racial lines,” says Ngoasheng.

South African Election Campaign Posters

A Look Ahead As South Africans Prepare For 2024 Elections

South Africa is on the brink of a historic electoral shift as it prepares for the general elections set for May 29. President Cyril Ramaphosa&#8217;s announcement of the election date, coinciding with the country&#8217;s 30th anniversary of democracy, marks a critical juncture for the African National Congress (ANC) and the nation&#8217;s evolving political landscape.



The ANC, having dominated South African politics since the end of apartheid in 1994, faces a significant test as polls suggest a decline in its popularity among voters. Marisa Lourenço, a seasoned political and risk analyst, points out to FORBES AFRICA, &#8220;Even if the ANC drops below 50% of the total vote share, it will almost certainly remain the largest party in parliament.&#8221; This potential shift towards coalition governments at the national level raises questions about service delivery and governance stability.



Lourenço warns of the challenges posed by coalition politics, citing the local level&#8217;s chaos as a possible precursor to what could unfold nationally. &#8220;But I don’t expect things to be quite so bad at the national level,&#8221; she adds, suggesting that the ideological similarities between the ANC and the Democratic Alliance (DA) might offer a silver lining for governance stability.



The recent compulsory release of documents related to the ANC&#8217;s cadre deployment policy has stirred controversy, revealing the party&#8217;s strategy for placing political appointees across government levels. Lourenço argues that the focus should be on the message, not the messenger, as it exposes the depths of kleptocracy within South Africa&#8217;s judiciary. &#8220;Proof of the attempt to capture the judiciary is the single largest event post-1994 that indicates that not all is well in democratic South Africa,&#8221; she asserts, questioning the readiness of South Africans to confront these revelations.



The timing of Ramaphosa&#8217;s election date announcement, deemed unusual by some due to its proximity to the budget speech, is strategic according to Lourenço. She believes it served to distract from the cadre deployment controversy and focus on the importance of voting, amidst the ANC&#8217;s attempts to leverage its liberation movement legacy to maintain support.



Furthermore, the emergence of new political parties, including the MK party endorsed by former President Jacob Zuma, introduces additional dynamics into the election. However, Lourenço views Zuma&#8217;s influence as limited, particularly on a national scale. &#8220;His message resonates in KwaZulu-Natal, but he doesn’t have a wider national pull,&#8221; she explains, downplaying the potential impact of Zuma&#8217;s political maneuvers on the broader election outcome.



As South Africa approaches these pivotal elections, the ANC&#8217;s dominance is challenged not only by internal factionalism and national issues such as power cuts and unemployment but also by the evolving political landscape marked by the emergence of new parties and coalition possibilities. The public&#8217;s response to these developments, informed by statements from political figures like Ramaphosa and analyses from experts like Lourenço, will shape the future of South Africa&#8217;s democracy and governance.



Reflecting on the 30th anniversary of democracy, this election is not just a procedural event but a moment of introspection for the nation. The ANC&#8217;s historical significance and its role in the anti-apartheid movement have afforded it a longstanding majority. However, the current political climate, characterized by public dissatisfaction with service delivery and economic challenges, suggests a potential reconfiguration of power dynamics.



Coalition governance, while a new concept at the national level, offers a glimpse into the possible future of South African politics. The experiences at the local government level, though mixed, highlight the complexities of shared governance. Analyst Lourenço emphasizes that while coalitions can introduce policy inertia, the ideological proximity of the ANC and DA may mitigate some governance risks. &#8220;The two largest parties in parliament – at the moment, and almost certainly after the upcoming elections – are the ANC and the DA, and ideologically they are very similar, which is a plus for overall stability in governance,&#8221; she explains.



Public statements from political leaders like Ramaphosa, urging democratic participation and peaceful campaigning, alongside analyses from experts, highlight the significance of these elections not just for governance but for the very fabric of South African democracy. &#8220;International experience shows that employees with critical skills contribute to improved productivity, enhanced innovation,&#8221; Ramaphosa noted in his newsletter, signaling the strategic importance of this electoral moment.



As South Africa stands at this crossroads, the 2024 elections offer a chance to reflect on the journey since the end of apartheid, evaluate the successes and shortcomings of the ANC&#8217;s governance, and decide on the path forward. The potential for coalition governments, the impact of new political parties, and the electorate&#8217;s response to current challenges will not only determine the immediate future of the country but also set the tone for South Africa&#8217;s democratic and governance landscape for years to come.

South African President Ramaphosa Briefs The Media On Voters Registration Weekend

South Africa’s Pivotal Polls: The Country Will Vote On May 29  

South Africa intensifies its critique of Israel, recalling diplomats and slamming actions in Gaza as war crimes. As international condemnation grows, the government contemplates further sanctions amid widespread protests and calls for a decisive international response.



South Africa has recalled its diplomatic corps from Israel for consultation, with the country&#8217;s Minister of International Relations and Cooperation, Naledi Pandor, issuing a strong critique of Israel&#8217;s ground invasion of Gaza. Pandor stated that the killing of children in the Palestinian region is a &#8220;war crime&#8221;.



Pandor was responding to questions she received after the Cabinet announcement today, withdrawing South Africa&#8217;s diplomats from Tel Aviv.



The African National Congress (ANC)-led South African government has long shown solidarity with the Palestinian cause, with Palestinian resistance movements providing social and military aid in the fight against apartheid in South Africa.



Israel&#8217;s response to the attacks of Hamas on October 7, which, at the time of writing, have seen at least 10,000 casualties among Palestinians in Gaza, was strongly condemned by the South African government.



&#8220;We believe the nature of the response by Israel has become one of collective punishment,&#8221; continued Pandor, &#8220;which falls outside the practices of international humanitarian and international human rights law.&#8221;



South Africans themselves have demonstrated in vast numbers in the major cities of Johannesburg, Cape Town, and Durban, with protests occurring almost weekly outside the United States Embassy and Consulate.



South Africa is not the only country to have instituted diplomatic responses to Israel in recent weeks, with Chad also recalling its ambassador earlier today. Several South American governments, such as Colombia, Chile, and Bolivia, had earlier done the same.



The South African branch of the Boycott, Divestment, and Sanctions (BDS) movement welcomed the decision by the government but also critiqued the time taken to make such an action.



&#8220;The SA BDS Coalition welcomes our government’s Cabinet statement condemning Israel’s genocide against the Palestinian people,&#8221; said Roshan Dadoo, spokesperson for the BDS, to FORBES AFRICA. &#8220;However, it took more than 10,000 Palestinians to be killed by the apartheid Israeli state before our government recalled all South African diplomatic staff for consultations.&#8221;



South Africa might take even further action following the last three weeks of conflict, with Minister in the Presidency Khumbudzo Ntshavheni stating in today&#8217;s post-Cabinet briefing that Israeli Ambassador Eliav Belotsercovsky&#8217;s position was &#8220;very untenable&#8221;.



Belotsercovsky has been directly critiqued by both the Cabinet and Pandor for his remarks in South African media as of late, with Minister Ntshaveni also stating that President Cyril Ramaphosa had instructed the Department of International Relations and Cooperation (DIRCO) to chastise him for &#8220;disparaging remarks&#8230;about those who are opposing the atrocities and the genocide of the Israeli government.&#8221;



&#8220;A genocide under the watch of the international community cannot be tolerated,&#8221; said Ntshaveni, sparing no words. &#8220;Another holocaust in the history of humanity cannot be tolerated.&#8221;



The South African Jewish Board of Deputies (SAJBD) spokesperson Charisse Zeifert said in a statement to FORBES AFRICA that the organization is seeking an urgent meeting with President Ramaphosa regarding today&#8217;s Cabinet decision, stating, &#8220;Severing ties would be a decision contrary to everything that the government claims it stands for, that is, talking to both sides of the conflict. And the only people who will stand to lose are South African citizens.&#8221;



Both the South African Jewish community and the Palestinian diaspora have deep ties within the country, with tensions unlikely to abate without a greater resolution to the conflict between Israel and Palestine itself.



&#8220;The South African people demand our government act in multilateral fora towards an immediate ceasefire and humanitarian assistance for people trapped in Gaza with UN protection, for the reinstatement of the UN anti-apartheid mechanisms towards international sanctions and an arms embargo, and a swift investigation and prosecutions by the International Criminal Court into war crimes, crimes against humanity including the crime of genocide and apartheid,&#8221; concluded the statement by BDS.

Encircled By Israel, Gaza Faces Catastrophe As Death Toll Soars

Escalating Tensions: South Africa’s Diplomatic Withdrawal From Israel

The Ukrainian air assault forces finally have deployed their most powerful unit. The 2,000-person 82nd Air Assault Brigade, which is stacked with Marder and Stryker fighting vehicles and Challenger 2 tanks, rolled into action around Robotyne, in southern Ukraine’s Zaporizhzhia Oblast, apparently in the last few days.



The deployment is good&nbsp;and&nbsp;bad news for Kyiv’s long-anticipated counteroffensive, which kicked off with a series of coordinated assaults across southern and eastern Ukraine starting on June 4.



The 82nd Brigade and its sister air-assault unit, the 46th Brigade, were some of the last major units that the Ukrainian general staff was holding in reserve. In finally sending those formations into battle, the Ukrainians could significantly boost their firepower along one of the main axes of the counteroffensive—the one stretching 50 miles from Russian-occupied Robotyne to occupied Melitopol, just north of the Black Sea coast.



But no brigade can fight forever. When the 46th and 82nd Brigades pull back for rest, reset and repairs, there might not be any equally powerful&nbsp;fresh&nbsp;brigades to fill in for them. The counteroffensive could lose momentum.



This neither is a new problem, nor one that’s unique to the Robotyne axis. The Ukrainian marine corps, which has focused its efforts along the Mokri Yaly River Valley, 50 miles to the east, has deployed&nbsp;all four&nbsp;of its front-line brigades&nbsp;at the same time&nbsp;along a 10-mile-wide sector.



The concentration of marine forces along the Mokri Yaly River has paid off for Kyiv. The division-size marine force has liberated a chain of settlements on the road to occupied Mariupol, on the Black Sea coast 50 miles to the south. Most recently Urozhaine, where marine gunners firing American-made cluster shells <a href="https://www.forbes.com/sites/davidaxe/2023/08/14/ukrainian-cluster-shells-massacred-russian-troops-fleeing-urozhaine/">massacred retreating Russian troops this weekend</a>.



But the marines eventually will need rest. And it’s not apparent which forces can fill in for them. While Ukraine still has uncommitted territorial and national guard brigades, these formations generally lack the firepower and training that make marine brigades so effective.



The same clock is ticking over in Robotyne, as a powerful Ukrainian air-assault force assembles outside the town. A Russian drone strike on&nbsp;<a href="https://twitter.com/RALee85/status/1691340418590429184" target="_blank" rel="noreferrer noopener">one of the 82nd Brigade’s American-made Stryker wheeled fighting vehicles</a>, apparently earlier this week, places the 82nd Brigade within a mile of the Russian 1430th Motor Rifle Regiment’s positions inside Robotyne.



Russian drones have spotted at least one of the 82nd Brigade’s 90 Strykers as well as&nbsp;<a href="https://twitter.com/JulianRoepcke/status/1691378804688580608" target="_blank" rel="noreferrer noopener">one of its 40 German-made Marder tracked fighting vehicles</a>. The Russians apparently&nbsp;haven’t&nbsp;located the brigade’s 14 ex-British Challenger 2 tanks. But we know the 69-ton tanks are inching toward the line of contact.



The most recent photo of a Ukrainian Challenger 2 to appear online depicts the tank with a turret-mounted cage that the crew clearly hopes will help to protect the vehicle from drone strikes. These “cope cages” are a battlefield expedient that brigades tend to install on their own as they’re getting ready to enter combat.



If the Ukrainian marines’ experience in Urozhaine is any indication, the surge of air-assault troops around Robotyne could result in rapid gains for Kyiv’s forces.&nbsp;<a href="https://www.forbes.com/sites/davidaxe/2023/08/11/ukrainian-scouts-are-inside-robotyne-the-first-russian-strongpoint-on-the-road-to-melitopol/?sh=544fb60010eb">The Ukrainians already were probing</a>, and attempting to flank, the Russian garrison in Robotyne. Now they’ve got two more brigades—and especially heavily-armed ones—to bolster their efforts.



If the Russians in Robotyne can hold their ground, and endure what is likely to be a major but temporary surge in Ukrainian combat power, they might eventually find themselves in a position to strike back at the Ukrainians—once the surge brigades rotate off the front line without replacement.

Ukrainian Armed Forces Train For Critical Spring Counter Offensive

Ukraine’s Powerful 82nd Brigade, Once Held In Reserve, Has Finally Joined The Counteroffensive

Zimbabwe&#8217;s Parliament recently passed the controversial Patriotic Bill, raising concerns about its impact on democratic freedoms and international relations. Critics argue that the law, which penalizes actions seen as undermining national interests, curtails freedom of speech, association, and assembly, and could isolate Zimbabwe on the global stage.



Zimbabwe’s Parliament passed the controversial Patriotic Bill into law on the evening of March 31, 2023. President Emmerson Mnangagwa&#8217;s ruling Zanu-PF government has long sought to enact this bill, claiming it strengthens aspects of the criminal code protecting national interests. However, critics within and outside Zimbabwe view it as one of the most oppressive laws yet, intended to stifle criticism and free speech, particularly during a sensitive time as the country approaches general elections in late August.



The Bill was first proposed after the controversial 2018 general elections, which saw Mnangagwa elected amidst contested results and protests that resulted in at least six fatalities, seemingly in response to opposition to Mnangagwa’s rule.



Broadly, the Bill criminalizes actions deemed to &#8220;willfully damage the sovereignty and national interest of Zimbabwe&#8221;. These include, among other offenses, planning state boycotts, sanctions, or any acts deemed as &#8216;subversion&#8217; of the state. Penalties for these transgressions include deprivation of citizenship and possibility of the death penalty, which the government had previously committed to repealing (REF).



Activists, journalists, and civil society organizations have denounced the passing of the Bill as another act by the ruling Zanu-PF under Mnangagwa to repress free speech and opposition, particularly as the country moves toward the upcoming general elections.



A risk and political analyst who specializes in sub-Saharan Africa, Marisa Lourenco believes that critics of the bill have a point. “Since the dawn of independence in Zimbabwe has been guided by principles of authoritarianism rather than any effort towards democracy…” says Lourenco to FORBES AFRICA. “Not only does it give the government more tools with which to suppress the opposition and civil society with its vague clauses—which nations are hostile, for example, is there a defined list?—but it also seems to be a way for the Mnangagwa administration to control the narrative around its performance as the government attempts to get some of its debt pardoned and access international financial markets.”



A cooperative of civil society members, including the Media Alliance of Zimbabwe, Zimbabwean Congress of Trade Unions, and the Zimbabwean Election Support Network, issued a media statement opposing the bill&#8217;s passage.



&#8220;A very sad day for Zimbabwe today as that country&#8217;s parliament has passed the Patriot Act bill into law,&#8221; tweeted prominent Zimbabwean journalist Hopewell Chin’ono. &#8220;It seeks to destroy freedom of association and assembly. Free speech is now dead, and any Zimbabwean holding a meeting with a foreign government official will be jailed.&#8221;



The primary opposition party, the Citizens’ Coalition for Change (CCC), was similarly critical. &#8220;Democracy is in distress as a report from Parliament confirms that the Patriotic Bill, which is considered unlawful and perilous, has been approved after amending the Criminal Code,&#8221; tweeted the party&#8217;s official account.



The ruling Zanu-PF and President Mnangagwa originally took power in 2017 during a military coup that ousted long-reigning Robert Mugabe.



The country currently scores 28/100 regarding political rights and civil liberties among countries worldwide, according to research organization Freedom House. On Tuesday afternoon, Zimbabwe summoned a top United States diplomat over a tweet the official US Embassy Zimbabwe account posted, encouraging citizens in the country to register to vote.



“We are likely to see heavy-handedness [from the state] and also the banning of demonstrations, disruption of opposition campaigns, etc,” continues Lourenco on the upcoming elections. “Having said that, widespread political and social instability is unlikely. I also expect voter turnout to be the lowest in post-independence



Zimbabwe. People have lost all faith in a ZANU-PF-led government to effect any kind of real change, and the hope that accompanied Mnangagwa’s ascension to the presidency faded soon after the 2018 elections and has been completely snuffed out by now.”



The bill&#8217;s passage, say experts, seems to align with protecting the ruling party ahead of the elections on August 28.



June 2 was the last day for citizens to register to vote. A report earlier this year by electoral advocacy group Team Pachedu flagged evidence of the Zimbabwean Electoral Commission’s (ZEC) delimitation report for signs of gerrymandering, among other irregularities.



Questions are being raised anew about whether the Patriotic Bill will hamper further critique of the ruling Zanu-PF in the run-up to what is likely to be a strongly-contested election, and whether it might be used to suppress the media and reporting of the event.

Zimbabwe’s New Parliament Building, Funded By China, Readied For Its Debut

Elections Ahead In Zimbabwe, And Criticism For Country’s New Patriotic Bill

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Ugandan President Yoweri Museveni signed a&nbsp;<a href="https://www.jurist.org/news/wp-content/uploads/sites/4/2023/03/Anti-Homosexuality-Bill-2023.pdf" target="_blank" rel="noreferrer noopener">law</a>&nbsp;Monday that threatens life sentences or the death penalty for those engaging in same-sex activities, renewing international concerns over human rights that could cause Western powers to cut off millions of dollars of aid to the African nation.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



The Anti-Homosexuality Act—passed by Parliament in March—affirms an existing law that allows life sentences for people who engage in same-sex relations, and adds several more drastic measures, including allowing the death penalty for HIV-positive people who repeatedly have sex with someone of the same gender.



It also calls for prison sentences of up to 20 years for “promoting homosexuality” and up to five years for touching someone with the “intention of committing an act of homosexuality.”



Foreign aid providers like the United Nations and some Western nations have&nbsp;<a href="https://www.ohchr.org/en/press-releases/2023/03/uganda-un-experts-condemn-egregious-anti-lgbt-legislation" target="_blank" rel="noreferrer noopener">critiqued</a>&nbsp;the law, arguing it violates human rights and could make it increasingly difficult to educate about and treat HIV.



Activist groups aiming to educate Ugandans about safe same-sex relations have expressed concern the law will hinder the fight against HIV, which affects 1.4 million Ugandans,&nbsp;<a href="https://aidsinfo.unaids.org/" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the UN.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



The law builds on 2014 legislation that held similar stipulations and was signed by Museveni, but was ruled invalid on procedural grounds by Uganda’s Constitutional Court. Another similar law in 2019 was vetoed by Museveni, who&nbsp;<a href="https://www.monitor.co.ug/uganda/news/national/museveni-hints-at-plan-not-to-sign-sexual-offences-act-3396024" target="_blank" rel="noreferrer noopener">cited</a>&nbsp;adverse “foreign policy implications” for Uganda if it enacted drastic anti-LGBTQ legislation. Following its attempt to pass the Anti-Homosexuality Act in 2014, U.S. President Barack Obama’s administration&nbsp;<a href="https://obamawhitehouse.archives.gov/blog/2014/06/19/further-us-efforts-protect-human-rights-uganda" target="_blank" rel="noreferrer noopener">sanctioned</a>&nbsp;Uganda, redirecting and stopping some aid to the country’s government. President Joe Biden’s administration has said it will also&nbsp;<a href="https://www.reuters.com/article/us-usa-biden-lgbt/biden-calls-for-expanded-efforts-to-protect-lgbtq-rights-globally-idUSKBN2A42KF" target="_blank" rel="noreferrer noopener">consider sanctions</a>&nbsp;on countries with anti-LGBTQ legislation, including&nbsp;<a href="https://www.whitehouse.gov/briefing-room/press-briefings/2023/03/22/press-briefing-by-press-secretary-karine-jean-pierre-and-nsc-coordinator-for-strategic-communications-john-kirby-11/" target="_blank" rel="noreferrer noopener">Uganda</a>. The United States alone provides roughly $950 million per year to Uganda, much of which goes toward health assistance,&nbsp;<a href="https://www.state.gov/u-s-relations-with-uganda/" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the State Department.



<h2 class="wp-block-heading" id="h-chief-critic">CHIEF CRITIC</h2>



The Anti-Homosexuality Act violates “the rights to freedom of expression and association privacy, equality, and nondiscrimination,”&nbsp;<a href="https://www.hrw.org/news/2023/03/09/uganda-new-anti-gay-bill-further-threatens-rights" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to Human Rights Watch, which promotes LGBTQ protections globally. HRW is at risk of not being able to operate in Uganda, as the country has identified at least 26 nongovernmental organizations it is considering banning for “promoting homosexuality,” HRW reported.



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



“The imposition of the death penalty for same-sex intimacy – including so-called ‘serial homosexuality’ – is an egregious violation of human rights,” the UN&nbsp;<a href="https://www.ohchr.org/en/press-releases/2023/03/uganda-un-experts-condemn-egregious-anti-lgbt-legislation" target="_blank" rel="noreferrer noopener">said</a>&nbsp;in a March statement about Uganda’s bill, arguing the implementation of the death penalty constituted “arbitrary killing” that breaches the International Covenant on Civil and Political Rights.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.wsj.com/articles/ugandan-lawmakers-amend-anti-lgbt-bill-criticized-by-u-s-6ff67e37?mod=article_inline" target="_blank" rel="noreferrer noopener">Ugandan Lawmakers Amend Anti-LGBT Bill Criticized by U.S.</a>&nbsp;(Wall Street Journal)



<a href="https://www.reuters.com/article/us-usa-biden-lgbt/biden-calls-for-expanded-efforts-to-protect-lgbtq-rights-globally-idUSKBN2A42KF" target="_blank" rel="noreferrer noopener">Biden calls for expanded efforts to protect LGBTQ rights globally</a>&nbsp;(Reuters)



<a href="https://www.washingtonpost.com/business/energy/2023/05/29/explainer-what-s-uganda-s-anti-gay-law-and-how-does-it-impact-lgbtq-rights/ff815492-fe1d-11ed-9eb0-6c94dcb16fcf_story.html" target="_blank" rel="noreferrer noopener">Why Uganda’s LGBTQ Community is Under Renewed Fire</a> (Washington Post)

President of Uganda Yoweri Museveni in Algeria

Uganda Passes Drastic Anti-LGBTQ Law—Including Death Penalty

The humanitarian crisis in Sudan is worsening by the day and within the first month of violence, erupting on April 15, at least 700 people have been killed&#8230;and counting. Those fighting vow to do so until death–or at least until they’re exhausted or one of the sides has a military breakthrough.



Pitted against each other are the Sudanese Armed Forces (SAF), led by Lieutenant General Abdel Fattah al-Burhan, and the Rapid Support Forces (RSF), controlled by Mohamed Hamdan ‘Hemedti’ Dagalo. In their fight to control the country, the two generals are seemingly committed to destroying each other which is why observers don’t foresee an end to the conflict any time soon.



Sudan was one of the first African countries to gain independence from British rule after World War II, but its governance has always been compromised and is reflected in the country’s numerous civil wars. The latest violence can be traced directly back to the ousting of former military officer and head of state, Omar Hassan Ahmad al-Bashir, in 2019, that was coordinated by the RSF and the SAF. But a power-sharing deal between the generals soon turned into a deadly power struggle.



RSF is a proxy militia that was historically used against the people of Sudan in marginalized regions. They’ve reportedly been found guilty of mass killings and rapes, pillage, torture, and the destruction of villages. Its key leaders have been indicted by the International Criminal Court of genocide, war crimes, and crimes against humanity.



Since the start of the current conflict, a variety of voices with different motives and backgrounds have called for the continuation of the war, in the belief that this will eliminate the RSF once and for all. In the eyes of many members of Bashir’s former regime, the RSF represents the main obstacle preventing them from re-seizing power.



Peace talks in Jeddah, Saudi Arabia, have so far failed to end the violence. Brokered by Riyadh and Washington, thousands of foreign nationals have been ferried out of the country. Sudanese journalist Mohamed Amen is following the talks and says: “Recent strides towards a ceasefire open the passage for relief aid in many parts of Sudan, especially Darfur…Amid all these tensions, people are still fleeing the capital Khartoum and other parts of the country. The humanitarian situation in Khartoum continues to deteriorate because of the fighting that is still continuing. The lack of food, the cutting off of water and electricity, and the shortage of fuel and other basic needs are mainly caused by the two sides not honoring the various ceasefires that were previously put in place.”



The humanitarian situation is nothing short of catastrophic. The conflict has driven many to seek refuge in neighboring countries. Hospitals are under pressure. Many are without water and electricity and have been vandalized. Health practitioners’ and patients’ lives are also in danger and Sudanese doctors are warning of a healthcare crisis. A call for humanitarian aid has so far delivered too little to salvage the situation.



The war has also left many jobless and exacerbated an already deflated economy.



Homes have been destroyed, families torn apart and many civilians have looted shops in a desperate effort to get some food.



Sadly, the instability is also creating new opportunities for armed groups and there are reports of them taking over laboratories for infectious diseases. Former staff are worried there might be a bio-risk if they open and sabotage fridges.



Sudanese civil wars are rooted in the historical context of the country, with the first one breaking out in 1955 to 1972.Until today, the second Sudanese civil war (1983-2005) remains one of the longest civil wars to ever erupt in Africa. Although it led to South Sudan eventually gaining independence from Khartoum, it left poverty and dependency on foreign aid in its wake. The latest conflict only exacerbates the situation, with infrastructure now even more dilapidated, poverty even worse and Sudanese people in greater despair.

Clashes continue in Sudan

Sudan Crisis: ‘Situation In Khartoum Continues To Deteriorate’

On February 25, Nigerians voted for their next President in what was perhaps the most contested elections in the country’s history. The people hope the new leader will solve the many ills currently plaguing Africa’s biggest economy. Some reactions on the just-concluded polls.



The 2023 Nigerian elections, held on February 25 and largely peaceful with 93 million registered voters, were significant for a number of reasons. Firstly, it was the first time in the country’s history that none of the candidates vying for the top seat was an incumbent or a former military leader.



It was also the first time a candidate not affiliated with either of the leading two parties – All Progressives Congress (APC) and People’s Democratic Party (PDP) – is seemingly in poll position.



That candidate is businessman and two-time governor of Anambra State, Peter Obi, running under the Labour Party. His teeming youth followers, who call themselves ‘Obedients’, are hoping to usurp power from the ruling two-party power paradigm by leveraging the power of social media.



“The only person that has shown capacity, capability and interest to solve these problems and make Nigeria great is no other than the Labour Party candidate, Peter Obi. He would definitely win this 2023 presidential election as he has shown that he would be the voice of the everyday Nigerian citizen. Major polls including Bloomberg and Anap have shown that Peter Obi is the choice of the Nigerian people and would most likely win this election,” comments Balami Isaac David, an aviator and business executive who defected from the PDP party.



Obi presents a refreshing proposition for Nigeria’s disenfranchized youth population. He has been known to fly economy class instead of business class whenever he travels by air and has shunned the large entourage his wealthy counterparts are known for – perhaps a signal to his followers that he will manage Nigeria’s vast resources with financial prudence. This, among other things, has also won him support from key Nigerian personalities such as author Chimamanda Ngozi Adichie and former President Olusegun Obasanjo. However, he has his work cut out for him.



Nobody has ever won an election in Nigeria without being a candidate of the two leading parties. And the competition is as stiff as it can get.



Bola Tinubu, 70, the flagbearer for the APC party, is widely known as a political kingpin and former governor of Lagos State and has immense influence in the south-western region of Nigeria and along with his deep pockets, is seen as a shoo-in for the top seat by most political pundits.



The third candidate, equally formidable, is Atiku Abubakar, 76, a former vice president of Nigeria who is attempting to win for the sixth time and is also popular in the north and equally wealthy. These two candidates are seen by many as veterans in the political landscape with the power and influence to make things happen in Nigeria. But these are trying times.



The winner of the 2023 election will have to contend with a number of economic hardships and insecurities that have left the country’s 200 million inhabitants frustrated and in desperate need for a solution. One of the major concerns is the shortage of cash in the economy as the country’s central bank has swapped its old notes and restricted distribution of the new currency notes in the country in what many believe is an attempt to prevent over-hoarding of cash by wealthy political parties and corruption in the election process.



“People are at their worst this time around because of shortages and non-availability of cash, fuel scarcity and routine events that have destabilized every structure in the society. While everyone is struggling to adapt to the changes and perceived temporary challenges, everyone is unhappy with the



timing of the government&#8217;s monetary policy even though it may well be in good faith,” observes Tonye Rex Idaminabo, a lawyer and reputation management expert in Nigeria.



There are also wider factors to consider. For instance, the Covid-19 pandemic in 2020 significantly impacted Nigeria.



The ongoing war in Ukraine has also exacerbated the situation and created significant challenges when it comes to security. This is evident in the frequent cases of kidnapping, banditry and insurgency in the north-east and north-west regions of the country. Also, recent natural disasters such as flooding, which has posed significant risks of food shortages, threaten the country’s food security and all this is against a backdrop of rising inflation.



Dauda Lawal is a governorship candidate for the PDP government and former banker looking to win the Zamfara State seat. Key to his agenda was addressing the issue of insecurity that would prevent millions from voting due to fear of violence.



“Insecurity has remained one of the most significant concerns. This is primarily because, without security, other vital sectors cannot thrive. In past and recent years, there has been an increase in concerns about electoral violence, voter intimidation, election rigging, and voter safety,” says Lawal.



He also highlights the decline in education and healthcare systems, and youth employment as another dominant concern for Nigerians.



“These sectors and systems have been plagued by challenges such as inadequate funding, poor infrastructure, inadequate teacher training, and a shortage of healthcare workers, resulting in a cycle of poverty, unemployment, and underdevelopment. Overall, these issues and concerns are interrelated. Still, failing to address them has resulted in declining living standards for many Nigerians despite our wealth and numerous natural resources,” says Lawal.



For many, the problem is a leadership issue. As Lawal puts it: “Bad leadership and the inability of our leaders to rise to their responsibilities has been one of the major contributing factors to Nigeria’s plight. Nigeria, therefore, needs a good captain to navigate it in the right direction. We need leadership that promotes a sincerity of purpose. This is because the country faces numerous challenges that require genuine commitment and dedication.”



“What Nigerians need is enlightened and selfless leadership who mean what they say and say what they mean,” adds Idaminabo.



David believes that these issues have forced Nigerians to look for ways to solve these issues themselves. He also highlights good leadership as the first integral solution.



“The Nigerian people currently need a good leader, a leader who would feel their plight and solve it, a leader who is not corrupt, who would not steal their national treasures for himself, a leader that they can at least trace his wealth, a leader who is strong enough to face the situations ahead, a leader who would provide education and make it accessible, a leader who has a track record of improved healthcare, a leader they can trust and speak to, a leader that would ensure that no Nigerian is more Nigerian than any Nigerian,” says David.



According to the Financial Times, Nigeria’s population in the next 25 years could reach 400 million, surpassing the United States as the world’s third most populated country.



“The major challenges faced by Nigerians is as related to geopolitical zone, occupational jurisdiction, age group and even religion and gender. I call these major issues that would be the climbing force to the upcoming elections the Big 7 and these issues are: the economic crisis of the country, insecurity, corruption, restructuring, unemployment, inadequate basic amenities and education,” says David.



“The economy of the country is currently in so much disarray that even the purchasing power of the country’s currency has been reduced to almost nothing. This is a country that once had its currency higher than the dollar but as at today, the Naira cannot even stand side by side with currencies in Africa that do not even have as close to the manpower or economic and natural resources controlled by Nigeria.”



As a country that doesn’t produce so much but consumes a lot, the economic viability of the country has excruciatingly depreciated leading to a rise in prices and reducing the country’s currency purchasing value.



“This has affected everything in the country, from feeding, to trading, from studies to even hand skills, everything is on the rise as the inflation value is currently outrageous. Nigeria’s GDP has seriously dropped and now growing at a very slow pace and the annual inflation rate has increased to a whopping 21.82% which has left citizens scampering for survival,” says David.



There are a number of factors to consider. The new leader of Africa’s most populous economy will have to not only exhibit the right leadership skills to move Nigeria swiftly out of these challenges, but also will need to gain the confidence and trust of a population in the political system.



So, the question remains who will emerge leader?



“Three different polls have been released with the latest being POLAF predicting that former Vice President Atiku Abubakar would win the elections with 38% of the votes, thereby winning the presidential elections. Another Bloomberg poll which predicted a Buhari victory in 2015 now says Peter Obi could win with a resounding 60% of the votes. Then, a poll by a group of data analysts said the ruling party candidate Bola Ahmed Tinubu would win the elections,” says Idaminabo.

Nigeria General Elections

‘Nigerians Need Enlightened And Selfless Leadership’: Africa’s Biggest Economy Votes For Change

<h2 class="wp-block-heading">Topline</h2>



As Nigeria gears up for elections on February 25, the question its over 200 million inhabitants will be desperately seeking an answer to will be, which presidential aspirant has what it takes to move the country out of its current economic crisis – defined by high inflation, diminishing foreign reserves, high insecurity in the North and falling oil prices. The country has not recovered post-pandemic.



For millions of voters affected by the economic hardships, the elections present an opportunity to find a candidate who can finally move the country forward and usher in a new age of prosperity. The 2023 elections to determine the President and Vice President have become more significant than ever.



In her speech honoring the country’s 62nd Independence Day last year, Nigeria’s First Lady Dr Aisha Muhammadu Buhari apologized for the harsh economic realities, saying “the regime might have not been the perfect one”.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



Of the 18 potential presidential candidates, only three hopefuls reportedly stand a realistic chance of getting the top seat. Nigeria’s top two parties are the All Progressives Congress (APC) and People’s Democratic Party (PDP), who have traded power since Nigeria’s first democratic elections in 1999. The frontrunners are Bola Ahmed Tinubu, 70, for APC and Atiku Abubakar, 76, for the PDP.



Both candidates have years of experience in Nigerian politics. Tinubu, widely known as the godfather of Nigerian politics and kingmaker, was a former governor of Lagos State as well as a former senator of the federal republic of Nigeria. Abubakar was also the former Vice President of Nigeria during Olusegun Obasanjo’s presidency.



And hoping to upset these two candidates is Peter Obi, 61.



A wealthy businessman who exited the PDP party last year, Obi is running under the relatively unknown Labour Party (LP) and has been focused on galvanizing Nigeria’s teeming youth population by leveraging social media as a key strategy. He is also a former Governor for Anambra State. His experience in the business world and understanding of the Nigerian political landscape make him the perfect candidate for the job, according to his supporters.



And while many believe it will be a tall order to unseat the two leading political parties, the anger, frustration and dire economic outlook faced by the Nigerian youth that account for about 70% of the population, according to recent figures from Worldometer, makes Obi a viable candidate to potentially upset the power dynamics in Africa’s most populous economy.

Election In Ondo State

The Nigerian Elections Coming Up This Month: Quick Facts

By Paula Slier



As predicted, South African president Cyril Ramaphosa has won the presidency of the ruling African National Congress (ANC) for a second term. Even the markets appreciated the news with the South African rand strengthening against the dollar.



But judging from how ANC delegates behaved at the party’s 55th elective conference that wrapped up this week, it’s clear the political culture within the party is still the same. The division between Ramaphosa’s allies and the aggrieved and aspirant who are part of a loosely-defined group called the ‘Radical Economic Transformation’ (RET) is as obvious as it is concerning.



Despite its vagueness, the RET is destined to remain a central and powerful bloc within the ANC and a constant constraint on Ramaphosa’s leadership and any of his efforts to reform the economy and promote clean governance.



Still, the ANC made history when delegates voted three women to the top seven party positions. A first in the organization’s 110-year history, or as the newly elected Gwen Ramaphosa put it, “I am embarrassed to be the first woman to be elected as the ANC’s Treasurer-General”.



Seeking a second term as party President, Ramaphosa was described by many commentators as “a shoo-in for re-election” – the only question was who would surround him? But doubt seeped in following revelations of a robbery at his private game farm in 2020. It was less the robbery than the contents which sowed uncertainty about his presidential prospects. More than $500,000 was alleged to have been stuffed in his sofas when the alleged robbery took place.



True to character, Ramaphosa has been hiding for the better part of the past week, following a parliamentary panel report that found preliminary evidence of improper conduct by the President and recommended he face impeachment inquiry.



The question is what happens now? Will unity prevail among the two divided groups which are meant to be one within the ANC? And more urgent, what will be Ramaphosa’s priorities going forward?



South Africa needs him to govern on behalf of the country, not only the ANC. Party members have clearly given him the benefit of the doubt regarding the scandal at his game farm, the details of which he has still to fully explain. Not only is he expected now to heal the divisions within his party, but he should not repeat the mistake he made during his first term when he spent way too much time trying to unite the ANC and bringing in some of those members who wanted to get rid of him.



South Africa’s economy is hobbling along. The energy crisis has reached crisis levels as South Africans prepare for a bleak, load-shedding (power cuts) ‘festive’ season as the country’s electricity public utility, Eskom, generates output plummeting to completely new lows.



And then there’s the crime. More people die in South Africa each day than in the Russia-Ukraine conflict. This crime &#8216;capital&#8217; of the world continues to impact businesses and scare away investors. Many young South Africans, especially graduates, believe they live in a hopeless economy that does not create job opportunities for them. One of the main recommendations at the conference was to give the ANC leadership a new look by including young people in leading positions.



As for Africa, what does Ramaphosa’s re-election mean for the continent?



The South African president seemingly still has the interest of Africa at heart. In February this year he spoke highly about the developmental challenges the continent faces. He noted that building a better Africa and a better world was the cornerstone of South Africa&#8217;s foreign policy and that for Africa to



play a full and equal role in global affairs “we must first attend to the developmental challenges of the people of Africa,” he said.



“We must develop our own economies through the African Continental Free Trade Area (AfCFTA), promoting investment and tourism within Africa, accelerating industrialization and driving green growth and low-carbon development. We must end all conflict and entrench democracy and good governance.



“Africa has found a new voice. It is bold and unapologetic in its expectations of our partners. At the same time, we are determined that Africa&#8217;s challenges must be, are being, and will be, solved by Africans themselves,” said Ramaphosa.

ANC 55th National Conference Day 05 At Nasrec

What Does Ramaphosa’s Re-Election Mean For Africa?

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Russian officials reneged on its deal with Ukraine clearing the Black Sea for grain exports, after it claimed Ukraine led a drone strike on its Crimean naval fleet—threatening what officials warn could become a global food crisis.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



The&nbsp;<a href="https://twitter.com/Gerashchenko_en/status/1586269146693926912" target="_blank" rel="noreferrer noopener">drone strikes</a>&nbsp;caused “minor damage” to two Russian naval vessels that are both involved in protecting Ukrainian grain shipments, Russian-installed local Gov. Mikhail Razvozhayev said on his&nbsp;<a href="https://t.me/s/razvozhaev" target="_blank" rel="noreferrer noopener">Telegram channel</a>—although Anton Gerashchenko, an adviser to Ukraine’s Internal Affairs Minister, said “several Russian warships,” including a frigate and a landing ship, had blown up in the attack.



Russia’s Defense Ministry labeled the strike on Russia’s Black Sea fleet near the Crimean city of Sevastopo a “terrorist” attack, accusing Ukraine of conducting it and claiming British Navy “specialists” helped plan it, Russian news agency&nbsp;<a href="https://ria.ru/20221029/ataka-1827750095.html?in=t" target="_blank" rel="noreferrer noopener">RIA</a>&nbsp;reported Saturday morning.



The strike comes more than three months after Ukraine and Russia came to a breakthrough deal with the United Nations and Turkey to allow grain ships to safely leave Ukrainian Black Sea ports, with Turkey acting as a moderator to inspect the ships before they depart—ending a five-month Russian naval blockade on Ukraine, known as Europe’s “breadbasket.”



United Nations officials reportedly reached out to Russian authorities Saturday in regards to resuming the Black Sea Grain Initiative, with Stephane Dujarric, spokesperson for U.N. Secretary General Antonio Guterres, saying the deal is a “critical humanitarian effort that is clearly having a positive impact on access to food for millions of people,” the&nbsp;<a href="https://www.nytimes.com/live/2022/10/29/world/russia-ukraine-war-news" target="_blank" rel="noreferrer noopener">New York Times</a>&nbsp;reported.



Although Russian officials blamed the attack on their fleet for canceling the agreement, Ukraine’s Foreign Minister Dmytro Kuleba&nbsp;<a href="https://twitter.com/DmytroKuleba/status/1586378441548759042?s=20&amp;t=R6i2tgJgbCEnEhQXKguQdg" target="_blank" rel="noreferrer noopener">claimed</a>Russia had prior plans to “ruin” it, accusing Moscow of using the drone strike as a “false pretext to block the grain corridor,” and calling on countries to demand Russia “stop its hunger games and recommit to its obligations.”



Razvozhayev also claimed Russian forces repelled further damage by shooting down the entirety of the drones used in the attack.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



Russian officials on Saturday also&nbsp;<a href="https://ria.ru/20221029/podryv-1827750196.html" target="_blank" rel="noreferrer noopener">accused</a>&nbsp;the British Navy of participating in the “planning, support and implementation of a terrorist attack” on the Nord Stream 1 and Nord Stream 2 gas pipelines, which&nbsp;<a href="https://www.forbes.com/sites/michaelshellenberger/2022/09/27/nato-says-sabotage-behind-destruction-of-natural-gas-pipelines/?sh=18f987b96162">suffered</a>&nbsp;leaks into the Baltic Sea last month. Moscow officials claim Western countries conducted a cover-up, Russian state news agency&nbsp;<a href="https://tass.com/russia/1529605" target="_blank" rel="noreferrer noopener">TASS</a>&nbsp;reported, with Russian Foreign Ministry spokesperson Maria Zakharova claiming Western countries have “something to hide.” A Swedish Security Service&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2022/10/06/pipeline-sabotage-suspicions-strengthen-swedish-probe-finds-detonations-caused-nord-stream-leak/?sh=79c196ed30d9">preliminary investigation</a>&nbsp;released earlier this month determined the pipelines connecting Russia and Germany were blown up, although it did not name a culprit. President Joe Biden had&nbsp;<a href="https://www.bloomberg.com/news/articles/2022-09-30/biden-says-nord-stream-leak-was-deliberate-act-of-sabotage?leadSource=uverify%20wall" target="_blank" rel="noreferrer noopener">called</a>&nbsp;the leak a “deliberate act of sabotage,” adding Russia is “pumping out disinformation and lies”—Moscow fiercely&nbsp;<a href="https://www.reuters.com/world/europe/agreement-eu-sanctions-against-russia-expected-before-summit-eu-official-2022-09-29/" target="_blank" rel="noreferrer noopener">denied</a>&nbsp;having been involved.



<h2 class="wp-block-heading" id="h-chief-critic">CHIEF CRITIC</h2>



Britain’s Defence Ministry, in response,&nbsp;<a href="https://twitter.com/DefenceHQ/status/1586337055201787906" target="_blank" rel="noreferrer noopener">denied</a>&nbsp;the allegations in a tweet, calling Russia’s claims an “invented story” it could use to “detract from their disastrous handling of the illegal invasion of Ukraine.”



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Officials from Russia and Ukraine&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2022/07/22/ukraine-reportedly-strikes-deal-with-russia-to-resume-grain-exports-amid-fears-of-food-crisis/?sh=60f41d895b44">struck a deal</a>&nbsp;with the U.N. and Turkey in July to lift Russia’s naval blockade in the Black Sea, allowing Ukrainian vessels to guide grain ships out of its port cities, with Turkey responsible for inspecting the ships, which Russian officials had warned could be filled with&nbsp;<a href="https://www.bbc.com/news/world-europe-62254597" target="_blank" rel="noreferrer noopener">smuggled arms</a>. Ukrainian officials had signaled Russia’s blockade could cause a sharp rise in food prices, with President Volodymyr Zelensky&nbsp;<a href="https://www.politico.eu/article/zelenskyy-ukraine-grain-russia-blockade-spark-famine-migration/" target="_blank" rel="noreferrer noopener">arguing</a>&nbsp;it could spark protests, famine and mass migration as the world is “teetering on the cusp of a food security crisis.” Russia’s naval blockade off Ukraine’s Black Sea ports, as well as a slew of infrastructure challenges, had kept nearly&nbsp;<a href="https://www.reuters.com/world/europe/nearly-25-mln-tonnes-grain-stuck-ukraine-un-food-agency-2022-05-06/" target="_blank" rel="noreferrer noopener">25 million tons</a>&nbsp;of grain stuck inside the country, according to Josef Schmidhuber, of the U.N. Food and Agricultural Organization.



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



6 million. That’s how many tons of grain Ukraine had been shipping outside the country each month before Putin launched the invasion in February, according to the&nbsp;<a href="https://uga.ua/en/news/russia-s-war-may-deprive-world-of-three-ukrainian-wheat-harvests-agriculture-minister-says/" target="_blank" rel="noreferrer noopener">Ukrainian Grain Association</a>. Its exports plummeted to 300,000 tons in March and roughly 1 million in April and 1.7 million in May.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.cnn.com/2022/10/29/europe/russia-ukraine-grain-deal-suspended-intl/index.html" target="_blank" rel="noreferrer noopener">Russia suspends its participation in UN-brokered grain export deal with Ukraine</a>&nbsp;(CNN)



<a href="https://www.reuters.com/world/europe/russia-suspends-participation-deal-ukraine-grain-exports-tass-2022-10-29/" target="_blank" rel="noreferrer noopener">Russia halts Ukraine Black Sea grain exports, citing attack on Crimea</a>(Reuters)



<a href="https://www.forbes.com/sites/brianbushard/2022/07/22/ukraine-reportedly-strikes-deal-with-russia-to-resume-grain-exports-amid-fears-of-food-crisis/?sh=60f41d895b44">Ukraine Strikes Deal With Russia To Resume Grain Exports Amid Fears Of Food Crisis</a>&nbsp;(Forbes)



By Brian Bushard, Forbes Staff

YEMEN-CONFLICT-AID

Global Food Crisis Back On? Russia Bails From Grain Deal, Blaming Ukraine Drone Attack

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Former finance minister Rishi Sunak has been chosen to become Britain’s next prime minister, the third person to assume the mantle this year with the hopes of soothing the political and economic omnishambles left behind from Liz Truss’ brief tenure, after she replaced Boris Johnson.&nbsp;



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



Sunak, 42, is a relative newcomer to British politics but has risen rapidly through the ranks of the Conservative Party and was elected as a Member of Parliament (MP) for the Yorkshire seat of Richmond in 2015.



Since entering Parliament in 2015, he&nbsp;<a href="https://www.rishisunak.com/news/why-i-will-vote-britain-leave-eu-0" target="_blank" rel="noreferrer noopener">backed</a>&nbsp;Brexit and was named finance minister in 2020 having only&nbsp;<a href="https://www.gov.uk/government/people/rishi-sunak" target="_blank" rel="noreferrer noopener">entered</a>&nbsp;government as a junior minister in the housing ministry in 2018 and joining the treasury as second-in-command to the finance minister in 2019.&nbsp;



Sunak was promoted to finance minister in 2020, just before the pandemic, and his economic support schemes during lockdown gained him widespread recognition and public support.



He was widely viewed as a surefire contender to replace Johnson as Conservative leader one day, though his popularity&nbsp;<a href="https://www.ft.com/content/523112e5-6066-47f1-b984-5de1da4fc79f" target="_blank" rel="noreferrer noopener">plummeted</a>following a series of politically unpopular policies, involvement in the lawbreaking “<a href="https://www.forbes.com/sites/roberthart/2022/06/06/uk-prime-minister-boris-johnson-survives-confidence-vote-after-partygate-scandal/?sh=60916aef12e6">Partygate</a>” scandal of government rule breaking during lockdown and after news emerged that his wealthy wife&nbsp;<a href="https://www.theguardian.com/politics/2022/apr/06/rishi-sunaks-wife-claims-non-domicile-status" target="_blank" rel="noreferrer noopener">avoided</a>&nbsp;millions in tax by claiming non-domicile status.



Sunak&nbsp;<a href="https://www.forbes.com/sites/roberthart/2022/07/06/uk-prime-minister-boris-johnson-fights-for-survival-after-wave-of-government-resignations/?sh=307176f76400">kick-started</a>&nbsp;the spate of government resignations that ultimately ousted Johnson and was runner up to Truss in the race to replace him with a campaign slogan of “Ready for Rishi” (evidently, voters were not ready).&nbsp;



Sunak, born in Southampton in the south of England to parents of Indian origin who emigrated to the U.K. from east Africa, will be the&nbsp;<a href="https://apnews.com/article/boris-johnson-covid-health-liz-truss-government-and-politics-1a90c0824d2abe92e9c0bd54849a1591" target="_blank" rel="noreferrer noopener">youngest</a>&nbsp;prime minister in more than 200 years and the country’s first South Asian leader.&nbsp;



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



Truss abruptly&nbsp;<a href="https://www.forbes.com/sites/roberthart/2022/10/20/uk-prime-minister-liz-truss-resigns-after-6-turbulent-weeks-in-office/?sh=4c67b4d0640e">resigned</a>&nbsp;as prime minister last week after just six weeks on the job, the shortest tenure in British history. Her departure, following weeks of financial turmoil from her fiscal policies and constant political u-turning, kicked-off another contest to select the leader of the Conservative Party, who will go on to be prime minister. The rules require contenders to garner support of 100 MPs to back their claim, effectively limiting the field to three candidates. Penny Mordaunt, the leader of the House of Commons and runner up to Sunak and Truss in the last contest, pulled out of the race to replace Truss minutes before nominations were due to close. Former Prime Minister Johnson, whose ousting led to Truss’ premiership, was widely tipped to throw his hat in the ring. He never formally announced his intention to do so, however, though a number of lawmakers nevertheless flocked to his banner (it is unclear whether support was strong enough to secure him a slot on the ballot to dues paying Party members). On Sunday, Johnson&nbsp;<a href="https://www.forbes.com/sites/carlieporterfield/2022/10/23/boris-johnson-drops-out-of-uk-prime-minister-contest/?sh=7a9d744550b3">said</a>&nbsp;he would not pursue leadership again, leaving Sunak the&nbsp;<a href="https://www.bbc.co.uk/news/uk-politics-63370359" target="_blank" rel="noreferrer noopener">clear favorite</a>.&nbsp;



<h2 class="wp-block-heading" id="h-forbes-valuation">FORBES VALUATION</h2>



$4.5 billion. That’s the estimated net worth of N.R. Narayana Murthy, an Indian programmer who co-founded tech giant Infosys, according to&nbsp;Forbes’&nbsp;real time&nbsp;<a href="https://www.forbes.com/profile/nr-narayana-murthy/?sh=6c53ca83e05f">tracker</a>. Murthy’s&nbsp;<a href="https://www.theguardian.com/politics/2022/apr/07/akshata-murty-who-is-rishi-sunak-wife" target="_blank" rel="noreferrer noopener">daughter</a>, Akshata Murthy, married Sunak after the two met when working towards an MBA at Stanford University.&nbsp;



<h2 class="wp-block-heading" id="h-what-we-don-t-know">WHAT WE DON’T KNOW</h2>



If Sunak is enough to calm the political storm. Sunak is a divisive figure within his own party, which could make gaining enough support to rule difficult. Strife within the Conservative Party over picking another leader, exemplified by the potential return of Johnson, the Tories’ incredible unpopularity in polls and the prospect of installing a third prime minister without another election has opposition parties and the public clamoring for another general election. Constitutionally, any prime minister that can command a majority in the House of Commons has a right to serve in the U.K. until the next general election and there are no set dates for these. Under current rules, the next election can be held no later than January 2025 and the Tories are not obligated to do so until then. They are unlikely to do so as polls project a devastating defeat, possibly so bad as to&nbsp;<a href="https://www.telegraph.co.uk/politics/2022/10/17/politics-latest-news-jeremy-hunt-budget-liz-truss/" target="_blank" rel="noreferrer noopener">push</a>&nbsp;the Conservatives out of&nbsp;<a href="https://www.independent.co.uk/news/uk/politics/tory-poll-liz-truss-labour-starmer-b2204553.html" target="_blank" rel="noreferrer noopener">opposition</a>&nbsp;as well as government. To call an election, a prime minister must formally seek one from King Charles III or the government must lose either a formal confidence motion or a vote it has billed as a confidence issue.&nbsp;



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



King Charles III will ask Truss’ replacement to form a new government in his name. This will be the first time he has done so since taking the throne, as Truss took office days before his mother, Queen Elizabeth II, died.&nbsp;



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.theguardian.com/politics/2022/oct/22/from-fighter-to-quitter-the-weird-rise-and-fall-of-liz-truss" target="_blank" rel="noreferrer noopener">From fighter to quitter: the ‘weird’ rise and fall of Liz Truss</a>&nbsp;(Observer)



<a href="https://www.forbes.com/sites/roberthart/2022/09/05/liz-truss-is-the-uks-new-prime-minister-heres-what-to-know-about-boris-johnsons-successor/?sh=54b7d39527ee">Liz Truss Is The U.K.’s New Prime Minister. Here’s What To Know About Boris Johnson’s Successor</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/roberthart/2022/10/20/uk-prime-minister-liz-truss-resigns-after-6-turbulent-weeks-in-office/?sh=4c67b4d0640e">U.K. Prime Minister Liz Truss Resigns After 6 Turbulent Weeks In Office</a>(Forbes)<a href="https://www.forbes.com/sites/roberthart/"></a>



By Robert Hart, Forbes Staff

Rishi Sunak Becomes Leader Of The Conservative Party And UK’s New Prime Minister

Rishi Sunak Selected As Britain’s Next Prime Minister—Here’s What To Know

The Ukrainian armed forces are attacking along three fronts in the south, east and north, reversing some of the territorial gains the Russian army made in the first six months of Russia’s wider war on Ukraine.



The war’s momentum clearly is shifting—in Kyiv’s favor.



Ukraine’s counteroffensive&nbsp;<a href="https://www.forbes.com/sites/davidaxe/2022/08/29/ukraines-southern-counteroffensive-long-rumored-might-finally-have-begun/?sh=1c42ac4a4b26">began on Aug. 30</a>, in the south. The Ukrainian Southern Theater Command—overseeing around three dozen army, marine and territorial battalions with perhaps 20,000 combat troops—launched assaults across the 100-mile front line stretching along the Inhulets River north of Russian-occupied Kherson, a strategic port on the Black Sea.



The Ukrainians felt out at least three soft spots in the Russian 49th Combined Arms Army’s defenses. The Ukrainian navy’s 35th and 36th Naval Infantry Brigades found the softest spot. In the first week of the counteroffensive, they advanced seven miles south of Ukraine’s main lodgment on the left bank of the Inhulets, <a href="https://www.forbes.com/sites/davidaxe/2022/09/06/russias-main-southern-bridgehead-could-be-ukraines-main-target/?sh=af1872a30b51">seemingly aiming</a> for the 49th CAA’s bridgehead across the Dnipro River in Beryslav, 25 miles south of the Inhulets and 35 miles east of Kherson.



That bridgehead is critical to the Russian defense. In three months of shaping operations starting in late May, Ukrainian artillery, rockets, commandos and saboteurs damaged or dropped all the major spans over the Inhulets and Dnipro in and around Kherson, leaving a handful of pontoon bridges—including the one in Beryslav—as the main lines of communication to the 49th CAA.



Tens of thousands of Russian and allied troops are at risk of starvation and encirclement in Kherson Oblast. The Ukrainians are taking advantage of the occupiers’ worsening fragility, steadily marching south and liberating devastated villages.&nbsp;



In seizing the initiative in the south, Ukraine has forced Russia to react rather than act. The Kremlin since May has shifted around a dozen battalions—a tenth of its force in Ukraine—from the Donbas region in the east to Kherson Oblast.



Conditions are bad enough for the Russians in Kherson that the reinforcing battalions might not make much difference in the south. But pulling those troops from Donbas&nbsp;has&nbsp;made a difference&nbsp;there.&nbsp;



The Russian army this summer captured several small cities in Donbas, expending much of its manpower and firepower reserves in the process. The Russian offensive in Donbas ground to a halt outside Bakhmut last month, apparently signaling to Ukrainian commanders that the time was right for Ukraine to counterattack &#8230;&nbsp;everywhere.&nbsp;



Kyiv’s forces moved on Kherson first. And as the Russians hollowed out their defensive positions in the north and east in order to meet the Ukrainians in the south, the Ukrainians&nbsp;also&nbsp;moved on Donbas and Kharkiv.



Ukrainian president Volodymyr Zelensky on Tuesday&nbsp;<a href="https://te.legra.ph/Dispatch-for-September-5-09-06" target="_blank" rel="noreferrer noopener">confirmed</a>&nbsp;Ukrainian gains in Donetsk Oblast in Donbas when he specifically thanked the 54th Mechanized Brigade and a local territorial brigade for their efforts. Ukrainian troops meanwhile&nbsp;<a href="https://twitter.com/Militarylandnet/status/1567131390260428802" target="_blank" rel="noreferrer noopener">probed</a>Russian positions around Balakliia in Kharkiv Oblast. “Ukraine could give the enemy a few more surprises,” Zelesnky&nbsp;<a href="https://t.me/uniannet/71005" target="_blank" rel="noreferrer noopener">said</a>.



It’s possible that, in the sixth month into the wider war, the Russian and Ukrainian armies are similar in size—each with around 100 battalions. The Russians&nbsp;on paperpossess more artillery, helicopters and warplanes, but the Ukrainians with their smaller air force and artillery corps have leveraged high-end American weaponry—High-Mobility Artillery Rocket Systems and&nbsp;<a href="https://www.forbes.com/sites/davidaxe/2022/08/30/watch-the-ukrainian-air-force-lob-american-missiles-at-russian-radars/?sh=55c2920955e5">High-Speed Anti-Radiation Missiles</a>—to strike Russian supply lines and air-defenses.



The precision of Ukrainian deep strikes, combined with the Ukrainians’ shorter supply lines and superior morale, could give Kyiv key advantages as the war’s momentum shifts and the Russians struggle to keep up with ever-bolder Ukrainian maneuvers.&nbsp;https://060d82c014cb357ad7acde8d2553728b.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html



It’s telling that, just a couple months ago, the Ukrainian military struggled—and ultimately failed—to hold the high ground in the city of Lysychansk on the eastern edge of free Donbas. Today the Ukrainians aren’t just holding territory, they’re actively taking it back along three fronts.



The next few weeks are critical. The early winter months in Ukraine are wet and muddy. Traditionally, offensive warfare in Ukraine halts in October or November and resumes only after the ground freezes around the New Year.&nbsp;



Now is the time for Kyiv to free occupied settlements. Ukrainian commanders clearly understand that. It’s apparent they’ve been waiting, and preparing, for this moment.



By David Axe, Forbes Staff

Russia-Ukraine war

Ukraine Is Attacking Everywhere

On May 25, 2020, George Floyd died before our eyes as a police officer knelt on his neck for approximately 9 minutes on a street in Minneapolis. Had Darnella Frazier, then 17, not captured the murder on her cell phone and posted it to Facebook, Floyd would have been yet another Black man to die in police custody – a statistic. Instead, George Floyd became a powerful symbol of persistent inequality and systemic injustice against Black Americans and a wake-up call for all. The response was historic – from the scores of leaders making forceful statements every day about racial justice to the <a href="https://www.forbes.com/sites/janicegassam/2021/09/03/its-going-to-take-more-than-donations-to-fix-corporate-americas-systemic-racism/?sh=1dd4057e19a1">$50 billion </a>that U.S. companies pledged (but not necessarily paid) to support Black communities. To understand the complexities of where we stand as a nation, though, look no further than the <a href="https://www.forbes.com/sites/maiahoskin/2022/05/16/say-their-names-here-are-the-victims-of-the-buffalo-hate-crime-shooting/?sh=4989663552cd">racially motivated mass murder</a> at a Buffalo grocery store on May 14. In an effort to capture the reality of being Black in America, we decided that we wanted to hear from leaders in the community. Here are some of their reflections on the post-Floyd era.



<h2 class="wp-block-heading" id="h-deray-mckesson">DeRay McKesson</h2>



“We spend a lot of our time battling misinformation from police.”



McKesson is executive director of Campaign Zero, which works with policymakers across the U.S. to reduce police violence.



George Floyd’s death really did reshape the conversation about police violence. I was in the streets in 2014, and we fought people for years to get them to believe that there was a problem. When George Floyd was killed, people just got it.



Two years later, we’ve accomplished a lot. We’ve helped enact laws in 19 states around the use of force. Every single state now has restricted or banned no-knock raids — we wrote those laws. We did the first repeal of the law enforcement officer bill of rights in the country’s history in Maryland. This work is not sexy, but it will save people’s lives.



We spend a lot of our time battling misinformation from police, who are trying to convince elected officials that our proposals make them less safe. Early on, policymakers stopped ceding ground to police. Over the past year, the uptick in crime hasn’t helped our cause.



I don’t have any comment about the ‘defund the police&#8217; slogan. I don’t see any win in commenting. I will say that part of our work as activists is not to be so arrogant as to believe that the only way to enter is the way we enter. I can enter from ‘defund’ and it doesn’t stress me out. Some people can’t enter from ‘defund.’ That doesn&#8217;t mean that they don’t love Black people and don’t care about our work. When I talk to my aunt – she’s in Baltimore, where there’s a lot of crime – I can’t talk about defunding the police. Because she’s not hearing me. And if she doesn’t hear me, then I can’t do any of my best work.



<h2 class="wp-block-heading">Sheryl Lee Ralph</h2>



“When I walk onto sets, I see more young, Black faces.”



Ralph is a Tony award-winning actress, best known for her roles on TV hits&nbsp;Abbott Elementary, Moesha&nbsp;and&nbsp;Ray Donovan.



When I entered the film industry as a teenager in the 1970s, I remember Sidney Poitier gifting me a makeup box with everything I’d need to do my makeup. This was because, once I left the support of our set, many stylists on other sets wouldn’t know how to make up a Black actress. He apologized that the industry did not have much to offer me because he felt, with my talent, I deserved more.



With that in mind, I didn’t expect much change to occur in the entertainment industry after George Floyd’s death. I am a child of the ’60s. I saw horrible things. So when the incident happened with George Floyd, I thought, ‘Oh, here we go.’



But I do see change. And I’ve been pleasantly surprised. Now, when I walk onto sets, I see more young, Black faces. I see hair and makeup artists hired to work with Black talent and others. And I see members of Generations Z and X promoting mental health while fighting for racial justice and equality, like my son, Etienne Maurice. He started a nonprofit called WalkGood LA to help people of color heal from the anger they felt after the deaths of Ahmaud Arbery and George Floyd.



There is so much more work to be done, specifically around policing and requiring body-worn cameras to keep officers accountable. What has taken 300 years to solidify itself in the thread of our country cannot be undone in two years. We&#8217;ve got more work that we must and can do.



<h2 class="wp-block-heading">Theodore V. Wells Jr.</h2>



“The underpinnings of our democracy are under attack.”



Wells is co-chair of the litigation department at Paul, Weiss, Rifkind, Wharton and Garrison LLP, chairman emeritus of the NAACP Legal Defense and Educational Fund and one of the country’s top trial lawyers.



I try to be optimistic but it’s tempered by the reality of history and current events. At this moment in time, the underpinnings of our democracy are under attack. There are formal efforts to suppress Black voting rights and a real possibility that the Supreme Court will ban affirmative action in higher education next term. We have income inequality across racial groups and many Black youth trapped in subpar schools while the problems of mass incarceration are only being addressed at the margins.



I was born in 1950 and came of age during the civil rights movement. If somebody had told me at 18 that we would still be fighting in 2022 with such intensity about violence against Black men and women, I’m not sure I would have believed it.



I have come to believe that the struggle for racial equality will continue over many generations. Progress is an aspirational goal, but it is not guaranteed. What is scary is that you now have people saying that we should not be discussing slavery or Jim Crow in our schools because it is uncomfortable. Until this nation, both Black and white, is willing to have an honest discussion about its history of systemic and institutionalized racism, we are going to find it difficult to make real progress.



The George Floyd moment for my generation was Emmett Till, a 14-year-old Black boy who was murdered and hung in Mississippi because he allegedly whistled at a white woman. The people who lynched him were acquitted by an all-white jury. Many Black children of my generation were drilled on how you could be murdered for the mere fact of being a Black person in the wrong place at the wrong time. That lesson continued with George Floyd and Ahmaud Arbery. Unlike in the Emmett Till case, their murderers were convicted. But the violence continues, as we saw earlier this month in Buffalo. I want to believe that we are mourning this tragedy together, that the outrage will lead to change. You have to try to temper your frustration and despair with hope and optimism.



<h2 class="wp-block-heading">Bozoma Saint John</h2>



“In that moment, I didn’t care about the appearance of being the angry Black woman.”



Saint John is a Hall of Fame marketing executive, author, entrepreneur and the former global chief marketing officer at Netflix.&nbsp;



A few days after George Floyd was murdered, I had to present at a roundtable of CMOs. Each of us was asked to present three things that we thought were important for our audiences or for our companies. Everybody was saying all these amazing things from very diverse points of view. About halfway through, though, I realized I didn’t care about any of those things at that moment. When it was my turn, I said, “There are things I want for us as a community of C-suite executives. Number one: Be enraged. Number two: Be enraged. Number three: Be enraged.” I said it with my voice shaking and a cry at the back of my throat.&nbsp;



In that moment, I didn&#8217;t care about the appearance of being the angry Black woman. I wanted everybody to see it and ask themselves why they weren&#8217;t enraged, too. I hadn&#8217;t challenged my own peers in that kind of visceral way before.



Prior to Floyd’s murder, we hadn’t had companies make public statements about anything, really – except for something like a natural disaster. But we hadn’t had companies make statements about racial reckoning. That was not a thing. And to be quite honest, I was so shocked by it.



I think there is a responsibility for companies to do more to advance racial equity. I understand why we are very sensitive to performative action. But even if a company is performative to whatever degree, they&#8217;re still laying a foundation to build on. It is our job as a society to make sure that we keep that performance accountable. If we think it’s performative, put some pressure against it. It’s just like science. If I put pressure against this thing and it’s actually a facade, it will fall.



<h2 class="wp-block-heading">Harvey Mason Jr.</h2>



“I&#8217;m very conscious of how I move as someone who hopefully can open the door for others.”



Mason Jr. is a Grammy-nominated record producer, songwriter, movie producer and CEO of The Recording Academy.



I think people have an awareness that they should have had before but didn’t. Many come to me, asking how they can help. Awkward as that sometimes is, they’re speaking from the heart. I’m very conscious of how I move as someone who hopefully can open the door for others. Hopefully, we can set a tone that then makes a change that can last and have impact.&nbsp;



When I’m on a Zoom call, talking to a studio about a film, and half the faces I see on screen are people of color, I know those people are going to rise through the ranks at that company. One might become a chief creative officer or CEO, and that’s going to trickle down to have a tremendous impact on the content that those studios produce. That will then trickle down to have a tremendous impact on the people who watch it, which might shape the opinions and perspectives those consumers have about a certain race or gender.&nbsp;



That’s going to be ultimately what changes the world and changes behavior and changes the hearts and minds of people. That’s why I love my job and why I love making art. By the time people watch it or hear it or listen to it or dance to it or sing it, they’re getting a dose of empathy and understanding.



<h2 class="wp-block-heading">Ryan Williams</h2>



“In some cases, you’re seeing things go backwards in terms of minority representation.”



Williams is cofounder and CEO of Cadre, a technology-driven real estate platform that aims to make commercial real estate accessible to a wider number of investors.



What has changed since George Floyd’s murder? Conversations like this have changed. Personally, this was not a discussion that I was comfortable having a couple years ago. And I don&#8217;t think a lot of folks in the media were comfortable having it either.&nbsp;



I’ve realized that I need to be more of a multidimensional leader. It’s not enough just to make sure we’re growing and building the leading platform for individuals to access real estate. I also need to talk about the communities we’re investing in, and start thinking more about my employees, my team and the communities they came from.



The biggest things that haven’t changed since two years ago are the numbers related to underrepresented minorities being board members, founders and CEOs. In some cases, you’re seeing things go backward in terms of minority representation and control in governance at large companies.



Institutional investors like pensions and university endowments play a huge role in how capital gets allocated. They’re not pounding the table and asking the venture capital funds they invest in, ‘What does your portfolio look like today?’ They’re not asking VCs, ‘How many Black partners do you have?’



<h2 class="wp-block-heading">Songe LaRon &amp; Dave Salvant</h2>



“I don’t think the onus should be on Black people, frankly, to fix these problems.”



LaRon and Salvant are the co-founders of Squire Technologies, which provides software and services to barber shops nationwide.



LARON: After George Floyd died, there was a lot more attention paid to the lack of funding that Black founders receive, relative to founders [who are] white and other races. There was more attention to the challenges that Black entrepreneurs experience. Prior to 2020 I think that was something that was talked about in Black circles but not so much outside. It sparked a dialogue. Did that dialogue and awareness translate into change that can be tracked and traced? I don’t know to what extent that’s happened.



SALVANT: As African-American founders, the more successful we are, the more we give other people chances. Investors and people are greedy and that trumps everything. If they’re making money with you, they invest more and look for similar assets to invest in. The responsibility we have is to be as successful as possible, and hopefully our success brings more opportunity in the future.&nbsp;



LARON: I don’t think the onus should be on Black people, frankly, to fix these problems. These are American issues. America needs to solve these issues. I think it’s good to have the conversation, but not just with Black founders. It’s as much of a white issue – more of a white issue, frankly. It’ll be interesting to see how white founders deal with this. How are they responding? What are they saying?



<h2 class="wp-block-heading">Ward Connerly</h2>



“I did not see Floyd’s murder as a racial interaction. ”



Connerly is president of the American Civil Rights Institute, a group critical of affirmative action programs, and a former University of California regent.



When George Floyd was murdered, my reaction was one of shock and disbelief — disbelief that law enforcement had allowed such brutal tactics to intrude into the everyday practices of their officers. I did not see Floyd’s murder as a racial interaction. That was instantly the characterization of it by many, but I did not see it that way. And to this day, I don’t really see it that way.



I think that, as a society, we are so obsessed with race that we look for it often. There are those who have views that are contrary to mine who manufacture that perception. It is almost as if it is in their best interest, based on their ideological view or their station in life, to identify transactions among us as being racial.&nbsp;



If we want to get beyond race, then we should get beyond race. That’s part of what I thought the election of Senator Barack Obama as President Barack Obama was about: post-racial. Not a country of Black and white, red America, blue America. But an America, post-racial. We didn&#8217;t move in that direction, but I&#8217;m still – at 83 almost – trying to gallop toward that before I leave. 



<h2 class="wp-block-heading">Frances Tiafoe</h2>



“I definitely like where we’re going, but it’s a long road ahead for sure.”



Tiafoe is the 27th-ranked men’s tennis player in the world and the only Black American male in the ATP Tour’s top 100 rankings.&nbsp;



At the time of Floyd’s death, I was one of the few Black American tennis players. When I made it to the fourth round of the U.S. Open a few months later, I came out with a Black Lives Matter mask and shirt. The fact that the U.S. Open let that happen was unbelievable. I felt like my guys were definitely behind me. To speak about racism and Floyd’s murder on such a big platform. It was huge.&nbsp;



I would like to encourage more people who look like me to play the game of tennis. That would be great for the sport. It comes down to people in power to move the needle. All you need is a basketball and hoop to play basketball and all you need is a field and a football to play football. There’s no stringing rackets, no shoes, no certain clothing needed, no traveling outside your community.&nbsp;



There definitely has been a shift in the right direction. Black people are doing much more for their communities, for places where they grew up in – at least where I’m from in D.C. I see a lot more help in lower-income areas. People are generally trying to do more, showing good representation, showing kids that this is bigger than just what’s right around them. But we need to see people of color getting great jobs, getting great opportunities in high places. I definitely like where we’re going, but it’s a long road ahead for sure.



<h2 class="wp-block-heading">Joy Buolamwini</h2>



“What matters is not the technology but how it’s used.”



Buolamwini, whose groundbreaking work on AI bias earned her a PhD from MIT Media Lab, is founder of the nonprofit research group Algorithmic Justice League.



I started AJL in 2016 to share research on how technology could perpetuate colorism, racism and other forms of discrimination. When George Floyd was murdered, it brought an intense focus on racial disparities and policing practices, including surveillance technologies that we’ve studied&nbsp;such as facial recognition.&nbsp;So it didn’t take long for policymakers, decision-makers and street leaders to reach out to us and ask for advice.&nbsp;



My organization is opposed to the use of technology for mass surveillance. The George Floyd video is not an example of Orwellian surveillance, recorded by some higher authority watching over people. Instead, it was sousveillance that’s recorded from below by the less powerful who are watching over the authorities as a check on power. It’s the young woman who wielded the camera against police brutality in a defiant, brave and visible act. It is important not to conflate an act of resistance with the invasive use of camera networks for mass surveillance. What matters is not the technology but how it’s used.&nbsp;



I’m encouraged to see the government be more transparent and seek expert advice on the impact of technology on our communities through increased testing and the creation of the National AI Advisory Committee. But there is so much more to do. The government also needs experiential expertise from those who have been harmed by technology. We need more enforceable rules and regulations of technology that can be used to discriminate, whether it’s who gets hired, arrested or prioritized for a kidney transplant.&nbsp;



Floyd’s murder underscores for me that racial justice requires algorithmic justice. We cannot have racial justice when technology discriminates against us.

Celebration Of The Sentence Of Former Police Officer Derek Chauvin As Guilty Of The Murder Of George Floyd

Two Years After George Floyd, Black Leaders Reflect On Change

Yesterday saw two votes of no-confidence discussed in South Africa’s Parliament, one against President Ramaphosa himself and the other against his Cabinet, with both ending unsuccessfully, one on procedural grounds and one failing to pass a sitting vote.



Attempted votes of no-confidence in South African President Cyril Ramaphosa and his cabinet ended in chaos yesterday, with speaker of Parliament Nosiviwe Mapisa-Nqakula withdrawing one motion from the order paper and another failing to pass a vote amidst what turned out to be a tumultuous seating of the country’s National Assembly in Cape Town.&nbsp;



The African Transformation Movement (ATM) had lodged a vote against President Ramaphosa, alleging that since he came to power, government’s irregular spending and state-owned entity corruption had increased, with ATM having sought a secret ballot. ATM leader Vuyolwethu Zungula declined to have the party’s motion against Ramaphosa move forward, as the party is still attempting to obtain the ability for the vote to be performed by secret ballot through the courts.&nbsp;&nbsp;



“No Member of Parliament may reflect on any case [before the court],” said Zungula during the Parliamentary session. “There is ongoing litigation… There is no way in which we can still proceed with this vote.” &nbsp;



The speaker ruled that the matter would not be proceeded on in Parliament, but instead be pushed to the programming committee to rule on whether it should proceed. National Assembly’s programming committee threw out ATM’s motion this morning, enabling other parties to introduce further motions, but as of now is removed from the Parliamentary roll.&nbsp;



The drama of the day was further magnified by a no-confidence motion in the Cabinet filed by major opposition party the Democratic Alliance’s (DA) John Steenhuisen, citing corruption and lack of energy reform as primary motivations. Several dozen DA members protested outside of the Parliament building, demonstrating in support of the motion.&nbsp;



Steenhuisen had earlier urged MPs to put South Africa first during the vote, stating “Not one of these ministers here would last a day in the private sector, where results matter and accountability is still a thing.”&nbsp;



Another main opposition party, the Economic Freedom Fighters (EFF), found themselves unlikely allies with the DA, voting for the motion alongside the United Democratic Movement (UDM), Freedom Front Plus (FF Plus) and the ATM.&nbsp;



&nbsp; Despite recent factional battles within factions of the African National Congress (ANC) in parliament, particularly between pro-Ramaphosa and Radical Economic Transformation (RET) factions, ANC MPs were almost universal in voting down the motion, summarily defeating it.&nbsp;&nbsp;



&#8220;Honourable members, the outcomes are as follows,” concluded Deputy Speaker Lechesa Tsenoli. “There’s one abstention, 131 yes, and 231 no. The motion is therefore not agreed to.&#8221;&nbsp;



With two strong votes of no confidence being discussed, both in President Ramaphosa and his Cabinet, as well as yesterday’s Parliamentary session devolving at times into conflict and confusion, Ramaphosa was unfazed. When pressed yesterday on whether he was concerned about the motions during a speech at the 17th National Union of Mineworkers (NUMSA) national congress, Ramaphosa responded: “I am not a Member of Parliament and in Parliament they do all manner of things and I am an observer.”&nbsp;

Interview with South Africa’s President Ramaphosa

South Africa’s ANC Sees Off Motion Of No Confidence  

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Disney will pause theatrical releases of its upcoming movies in Russia, the company announced Monday, joining Netflix, Shell, Twitter, Airbnb and online crafts retailer Etsy in announcing action against Russia or providing aid to people in Ukraine Monday amid Russia’s invasion—here’s a list of companies who have pledged initiatives. 



<h2 class="wp-block-heading">KEY FACTS</h2>



The Walt Disney Company, which owns Marvel Studios, 20th Century Studios, Pixar and other film properties,&nbsp;<a href="https://thewaltdisneycompany.com/statement-from-the-walt-disney-company-in-response-to-the-crisis-in-ukraine/" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;Monday it is pausing its release of theatrical films in Russia, including its anticipated Pixar film&nbsp;Turning Red, “given the unprovoked invasion of Ukraine and the tragic humanitarian crisis.”



A spokesperson for Netflix told the&nbsp;<a href="https://www.wsj.com/articles/netflix-wont-add-russian-channels-to-service-defying-new-regulation-11646076964?st=yl5fqyjcickd17m&amp;reflink=desktopwebshare_twitter" target="_blank" rel="noreferrer noopener">Wall Street Journal</a>&nbsp;Monday that “given the current situation,” the streaming service has no plans to distribute news, sports and entertainment channels from Russian state media, despite a new Russian regulation that requires organizations with more than 100,000 subscribers to carry them, according to a source familiar with the matter.



Shell&nbsp;<a href="https://www.forbes.com/sites/jonathanponciano/2022/02/28/shell-joins-bp-abandons-3-billion-russia-investments-after-senseless-ukraine-invasion/?sh=194463566a44">announced</a>&nbsp;Monday it would divest in several ventures with Gazprom, a Russian-state owned gas company totaling to roughly $3 billion in value.



Twitter&nbsp;<a href="https://www.forbes.com/sites/zacharysmith/2022/02/28/twitter-will-label-tweets-linking-to-russian-state-backed-media-like-rt-and-sputnik/?sh=9fb308b7d88f">said</a>&nbsp;Monday it would label tweets that share information from Russian state media accounts, and&nbsp;<a href="https://twitter.com/TwitterSafety/status/1497353976588689411?s=20&amp;t=gCFYAJ3lrRKS1P98ynVzJQ" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;Friday it was temporarily suspending ads in Ukraine and Russia “to ensure critical public safety information is elevated and ads don’t detract from it.”



Airbnb&nbsp;<a href="https://news.airbnb.com/help-ukraine/" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;Monday they will provide free, short-term housing for 100,000 refugees who have fled Ukraine, which will be paid for by the company and through donations.&nbsp;



Etsy&nbsp;<a href="https://blog.etsy.com/news/2022/standing-with-our-community-when-it-matters-most/?ref=press_blog_title" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;Monday it was canceling all balances owed to the company by sellers in Ukraine, including listing and advertising fees, amounting to roughly $4 million, to alleviate financial hardships felt by those in the country.&nbsp;



Oil giant BP&nbsp;<a href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-to-exit-rosneft-shareholding.html" target="_blank" rel="noreferrer noopener">divested</a>&nbsp;a roughly 20% stake in Russian oil company Rosneft Sunday, and announced the immediate resignation of two BP-nominated Rosneft board members, with BP chair Helge Lund calling Russia’s attack on Ukraine an “act of aggression” and saying BP’s “involvement with Rosneft, a state-owned enterprise, simply cannot continue.”



Facebook’s parent company Meta&nbsp;<a href="https://about.fb.com/news/2022/02/metas-ongoing-efforts-regarding-russias-invasion-of-ukraine/" target="_blank" rel="noreferrer noopener">said</a>&nbsp;it restricted access to Russian state media accounts in Ukraine, blocked Russian state media from running ads and earning money from their accounts on the platform, and Sunday said it took down posts related to a disinformation campaign targeting Ukraine.&nbsp;



Youtube temporarily&nbsp;<a href="https://money.yahoo.com/youtube-cuts-off-revenue-rt-194545760.html" target="_blank" rel="noreferrer noopener">demonetized</a>&nbsp;Russian state media outlet RT and other channels Saturday, preventing it from earning money through ads on its videos, and limited access to these channels in Ukraine.



Verizon&nbsp;<a href="https://www.wsj.com/livecoverage/russia-ukraine-latest-news/card/cvVIf5gJouWlK3OUEGI1" target="_blank" rel="noreferrer noopener">waived</a>&nbsp;residential and mobile call fees to and from Ukraine Friday through March 10, and waived voice and text roaming charges for those in the country.



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



Organizations around the world are also taking action against Russia. The International Olympics Committee requested Monday that sports organizations around the world ban Russian and Belarusian athletes from competing. Friday the Eurovision song contest barred Russia from competing this year, and Formula 1 canceled the Russian Grand Prix. The international fallout comes as the U.S. and other Western allies voted to remove some Russian banks from SWIFT over the weekend, and executed other rounds of sanctions on Russian financial institutions. Russian President Vladimir Putin has also been the direct target of sanctions, with the U.S. freezing his personal assets and those of Foreign Minister Sergei Lavrov and other wealthy Russian oligarchs.



<h2 class="wp-block-heading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/masonbissada/2022/02/27/bp-drops-nearly-20-stake-in-russian-owned-oil-firm-after-invasion-of-ukraine/?sh=67ede05ecb83">BP Drops Nearly 20% Stake In Russian-Owned Oil Firm After Invasion Of Ukraine</a>&nbsp;(Forbes)&nbsp;



<a href="https://www.forbes.com/sites/lisakim/2022/02/26/youtube-temporarily-demonetizes-russian-channels-and-restricts-access-to-them-in-ukraine/?sh=60c8bd814605">YouTube Temporarily Demonetizes Russian Channels And Restricts Access To Them In Ukraine</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/carlieporterfield/2022/02/25/eurovision-bans-russia-as-major-sports-and-entertainment-companies-withdraw-amid-invasion---see-the-full-list-here/?sh=62ce6c7a1958">Eurovision Bans Russia As World Cuts Ties Amid Invasion Of Ukraine— See The Full List Here</a>&nbsp;(Forbes)&nbsp;



<a href="https://www.forbes.com/sites/roberthart/2022/02/28/ioc-russian-and-belarusian-athletes-should-be-banned-from-all-international-sports-after-ukraine-invasion/?sh=60e7af9c1af0">IOC: Russian And Belarusian Athletes Should Be Banned From All International Sports After Ukraine Invasion</a>&nbsp;(Forbes)&nbsp;



<a href="https://www.forbes.com/sites/masonbissada/2022/02/27/fifa-takes-stand-against-russia-heres-how-the-sports-world-has-reacted-to-the-ukraine-invasion/?sh=6bdb40765fb3">FIFA Takes Stand Against Russia: Here’s How The Sports World Has Reacted To The Ukraine Invasion</a> (Forbes)



<a href="https://www.forbes.com/sites/marisadellatto/"></a>By Marisa Dellatto, Forbes Staff

Michael Eisner (L), chairman and CEO of the Walt D

Disney Pauses Film Releases In Russia– Including ‘Turning Red’– As Growing List Of Companies Respond To Invasion

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Global stock indexes and major cryptocurrencies dived on Thursday while commodities like oil and precious metals rallied as Russia’s&nbsp;<a href="https://www.forbes.com/sites/joewalsh/2022/02/23/russia-orders-special-military-operation-in-ukraine/?sh=72e111fc2321">invasion</a>&nbsp;of Ukraine sent shockwaves through international markets.&nbsp;



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



European stocks tumbled as markets opened on Thursday morning, with key indexes including London’s FTSE 100 down 2.46%, Germany’s Dax 3.48%, France&#8217;s CAC40 3.01%, Spain’s Ibex 2.58%, Euronext 100 2.62% and Euro Stoxx 50 3.37%.



The slump mirrors falling stocks in the Asia Pacific region Thursday, with Japan’s Nikkei down 1.81%, Hong Kong’s Hang Seng 3.21%, Australia’s All Ordinaries 2.95% and Shanghai’s Composite 1.70%.&nbsp;&nbsp;&nbsp;



U.S. markets are on a similar path for when markets open, with the Dow down 1.38% in pre-market trading, Nasdaq 2.57% and S&amp;P 500 1.84%, with the latter&nbsp;<a href="https://www.forbes.com/sites/sergeiklebnikov/2022/02/23/sp-500-falls-deeper-into-correction-territory-as-ukraine-declares-state-of-emergency/?sh=793035b35e67">continuing</a>&nbsp;a days-long downwards trend.



The Moscow stock exchange, which uses the Russian ruble, suspended all trading Thursday amid enormous volatility in the currency and benchmark index MOEX was down nearly 40%.



Oil prices, meanwhile, jumped past $100 a barrel with the highest prices since 2014—Brent crude rose nearly 7% to $103 a barrel—and safe haven&nbsp;<a href="https://www.reuters.com/markets/europe/gold-rises-escalating-ukraine-crisis-spurs-safe-haven-bids-2022-02-24/" target="_blank" rel="noreferrer noopener">assets</a>&nbsp;like gold, silver platinum and palladium grew between 1.5% and 3%.&nbsp;&nbsp;&nbsp;&nbsp;



Major cryptocurrencies also crashed in the wake of the invasion, with&nbsp;<a href="https://www.forbes.com/digital-assets/assets/bitcoin-btc/?sh=23274a6d4357">bitcoin</a>&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2022/02/23/bitcoin-falls-below-35000-as-putin-orders-military-operation-in-ukraine/?sh=56d6315f4a3a">down 8%</a>&nbsp;in the last 24 hours,&nbsp;<a href="https://www.forbes.com/digital-assets/assets/ether-eth/?sh=6457a2717b0e">ether 12%</a>, Binance’s&nbsp;<a href="https://www.forbes.com/digital-assets/assets/binance-coin-bnb/?sh=6b8afc44ae78">BNB 11%</a>&nbsp;and&nbsp;<a href="https://www.forbes.com/digital-assets/assets/ripple-xrp/?sh=38a7ebe1535a">Ripple’s XRP 13%</a>.&nbsp;&nbsp;



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



More sanctions. World leaders have&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2022/02/23/russia-sanctions-tracker-first-barrage-of-penalties-span-japan-to-us/?sh=3379f45c149a">already imposed fresh sanctions</a>&nbsp;on Russian banks, lawmakers and oligarchs and President Joe Biden warned Thursdays’ G7 meeting would yield more “<a href="https://www.forbes.com/sites/siladityaray/2022/02/24/russias-invasion-of-ukraine-draws-international-condemnation-and-threats-of-more-sanctions/?sh=3f2fd15c7b3b">severe sanctions</a>’ on Russia.&nbsp; The sanctions—which could be severe given the scale of Russia’s incursion—could cripple Russia’s economy and bar it from key markets. European&nbsp;<a href="https://www.politico.eu/article/eu-russia-new-sanctions-package-ukraine/" target="_blank" rel="noreferrer noopener">leaders</a>&nbsp;have already scheduled an emergency meeting to discuss the measures on Thursday evening.&nbsp;



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/siladityaray/2022/02/24/russias-invasion-of-ukraine-draws-international-condemnation-and-threats-of-more-sanctions/?sh=3f2fd15c7b3b">Russia’s Invasion Of Ukraine Draws International Condemnation And Threats Of More Sanctions</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/joewalsh/2022/02/23/russia-orders-special-military-operation-in-ukraine/?sh=72e111fc2321">Russia Orders ‘Special Military Operation’ In Ukraine</a> (Forbes)



By <a href="https://www.forbes.com/sites/roberthart/"></a>Robert Hart, Forbes Staff

Oil Prices Moving Down

Global Stocks Plummet And Oil Soars As Russia Invades Ukraine

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Russian President Vladimir Putin ordered a “special military operation” in Ukraine early Thursday, a chilling announcement that was immediately followed by reports of explosions across Ukraine, propelling the country into war after months of massive Russian troop buildups.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



Russia launched the operation in response to calls for assistance from Russian-backed separatist leaders in eastern Ukraine, Putin claimed in a speech aired on Russian television.



CNN&nbsp;<a href="https://www.cnn.com/europe/live-news/ukraine-russia-news-02-23-22/index.html" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;explosions were audible from Ukraine’s capital of Kyiv and the eastern cities of Kharkiv and Kramatorsk after Putin’s speech.



Ukrainian Foreign Minister Dmytro Kuleba&nbsp;<a href="https://twitter.com/DmytroKuleba/status/1496695889401896964" target="_blank" rel="noreferrer noopener">tweeted</a>&nbsp;that Putin has “launched a full-scale invasion of Ukraine.”



In a&nbsp;<a href="https://dpsu.gov.ua/ua/news/Derzhavniy-kordon-Ukraini-piddavsya-ataci-rosiyskih-viysk-zi-storoni-RF-ta-RB/" target="_blank" rel="noreferrer noopener">statement</a>&nbsp;issued on its website, Ukraine’s State Border Guard said the country was also facing an attack along its northern borders by Russian troops with support from Belarusian forces.



In&nbsp;<a href="https://www.facebook.com/zelenskiy.official/posts/3017478685169154?__cft__[0]=AZUsWu88Ns6ISNqguybw-W6LiMYzgDov6KnJBFAOkSEVR6FuKs4ggYpmWI8Oa0WsxZM-R-u6bprFJ7QDnHs0XfjWoVWRfslIQS-_JXWjY2X5H1oovMYTf3WwiGj3EIqPCY3NO1xlY_OI35QrjZ8DXBZz&amp;__tn__=%2CO%2CP-R" target="_blank" rel="noreferrer noopener">brief video</a>&nbsp;shared on Facebook, Ukrainian President Volodymyr Zelenskyy declared martial law across the whole territory of Ukraine while urging the country’s citizens to not panic.



Putin called on Ukrainians to lay down their weapons and insisted he doesn’t want to occupy the country, claiming the military action is designed to “demilitarize and denazify” Ukraine.



Putin’s speech also included an ominous warning that he will&nbsp; bring to justice “those who have committed numerous bloody crimes against civilians, including citizens of the Russian Federation.”



The Russian leader also issued a stern warning against any international opposition to the move, stating any attempts to impede Moscow’s actions “let alone create threats for our country” will lead to consequences “never seen in history.”



<h2 class="wp-block-heading" id="h-chief-critic">CHIEF CRITIC</h2>



In a statement, U.S. President Joe Biden denounced Putin’s actions and vowed to impose additional sanctions for the “needless act of aggression” on Ukraine. “President Putin has chosen a premeditated war that will bring a catastrophic loss of life and human suffering,” Biden said. “Russia alone is responsible for the death and destruction this attack will bring, and the United States and its Allies and partners will respond in a united and decisive way.”



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



In a statement issued after a call with Zelenskyy, Biden said “I condemned this unprovoked and unjustified attack by Russian military forces. I briefed him on the steps we are taking to rally international condemnation&#8230;Tomorrow, I will be meeting with the Leaders of the G7, and the United States and our Allies and partners will be imposing severe sanctions on Russia.:



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



Putin launched the attack during an emergency meeting of the U.N. Security Council in New York called to deal with the Ukraine crisis. Sergiy Kyslytsya, Ukraine’s ambassador to the United Nations, denounced Russia’s actions in a fiery speech: “There is no purgatory for war criminals. They go straight to hell,” he said. Russian ambassador Vasily Nebenzya—who currently serves as the Security Council’s chair—responded by denying that Russia declared war, insisting Putin’s “special military operation” is somehow distinct from a war.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



Shortly before Putin announced the invasion, Ukrainian President Volodymyr Zelenskyy made a final plea for peace in a late-night speech. Zelenskyy said he attempted to contact Putin, but the Kremlin didn’t respond.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Russia and Ukraine have been locked in a tense relationship since 2014, when Russia invaded and annexed Ukraine’s Crimean Peninsula, an area roughly the size of Vermont whose 2.4 million inhabitants are mostly ethnic Russians. Russian troops and military hardware were also&nbsp;<a href="https://www.files.ethz.ch/isn/191186/Hiding-in-Plain_Sight_0529.pdf" target="_blank" rel="noreferrer noopener">deployed</a>&nbsp;eight years ago in support of separatists in the Donbas, an area of Ukraine bordering Russia, though the Kremlin&nbsp;<a href="https://www.reuters.com/article/us-ukraine-crisis-denial-idUSKBN0GS22Z20140828" target="_blank" rel="noreferrer noopener">officially denied</a>&nbsp;participating in the conflict. In December, Russia moved about 100,000 troops close to its border with Ukraine, a number that swelled to more than 150,000 by last week according to the U.S., prompting the White House to warn that Russia could launch an attack justified by a&nbsp;<a href="https://www.forbes.com/sites/zacharysmith/2022/02/03/russia-plans-fake-explosion-video-to-justify-ukraine-invasion-us-alleges/">“false-flag” operation</a>&nbsp;portraying Ukraine as the aggressor. Violations of a ceasefire in the Donbas have become more frequent over the last week, a trend U.S. officials viewed as an attempt by Russia to create a pretext for war. On Monday, Putin&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2022/02/21/putin-reportedly-said-hell-recognize-pro-russia-states-in-ukraine---heres-why-that-matters/">said</a>&nbsp;Russia will recognize the independence of Ukraine’s partially separatist-controlled Donetsk and Luhansk regions, and accused Ukraine of military aggression, a move the White House called a likely prelude to invasion, though the Kremlin has&nbsp;<a href="https://www.cnn.com/2022/01/31/europe/ukraine-russia-latest-news-monday-intl/index.html" target="_blank" rel="noreferrer noopener">dismissed</a>&nbsp;concerns about a Russian invasion of Ukraine as “madness and scaremongering.” American and European officials have searched for a diplomatic solution to the crisis, but Russia has continued to push for Ukraine to be barred from joining NATO, a demand the U.S. and its allies have not accepted.



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



Reactions from Western governments. The U.S. and its allies’ responses to Russian aggression so far have ranged from supplying the Kyiv government with weapons to <a href="https://www.nytimes.com/2022/02/22/business/nord-stream-pipeline-germany-russia.html" target="_blank" rel="noreferrer noopener">halting</a> the activation of Nord Stream 2, an $11 billion natural gas pipeline connecting Russia to Germany—a move that threatens to <a href="https://www.cnbc.com/2022/01/05/nord-stream-2-is-a-major-item-of-leverage-against-russia-ex-german-ambassador.html" target="_blank" rel="noreferrer noopener">deprive</a> Russia of tens of billions of dollars in natural gas revenue. NATO <a href="https://www.nato.int/cps/en/natohq/news_191040.htm" target="_blank" rel="noreferrer noopener">announced</a> January 24 that member states had sent ships and fighter jets to Lithuania and Bulgaria in response to the crisis. Though U.S. troops have been deployed to Eastern European NATO allies, Biden has <a href="https://www.theguardian.com/world/2021/dec/08/russia-talks-of-rapid-ukraine-discussions-after-biden-putin-summit" target="_blank" rel="noreferrer noopener">ruled out</a> the possibility of deploying U.S. troops to defend Ukraine or to evacuate Americans, arguing a clash between U.S. and Russian troops would spark “a world war.”



<a href="https://www.forbes.com/sites/joewalsh/"></a>By Joe Walsh, Forbes Staff



By Zachary Snowdon Smith, Forbes Staff

Category: Politics