| Welcome to Next Africa, a twice-weekly newsletter on where the continent stands now — and where it’s headed. Sign up here to have it delivered to your email. In this edition, we bring you something a little different. Weekend Editor-at-Large Mishal Husain sat down with Tidjane Thiam at his home in Paris to talk about a wide range of subjects — from politics to banking, leadership, and being asked to be France’s finance minister. The crux? The ex-head of Credit Suisse hasn’t given up on being president of Ivory Coast. As things stand, the top opposition candidate in the world’s biggest cocoa producer has been barred from contesting next month’s election — a ballot he sees as pivotal for Africa’s democratic credentials. “The level of interest in this race is enormous,” Thiam says in the interview to mark the publication of his memoir Without Prejudice. “All of Africa is watching this, because this is a critical juncture for Africa.”  Thiam at a political rally in Aboisso in December. Photographer: Sia Kambou/AFP/Getty Images Thiam has been fighting an April court decision that effectively blocked his candidacy, after which Ivorian President Alassane Ouattara announced plans to seek a controversial fourth term in office. Thiam’s supporters and those of other opposition parties have held peaceful rallies against the banning of candidates (ex-President Laurent Gbagbo, who has a criminal conviction, is also excluded). With the West African nation’s history of electoral unrest, Thiam was asked whether he grapples with the risk that demonstrations could turn violent, and his responsibilities as a political leader. “Of course, every day, every night,” he replied. “But this situation is not of our making.” Thiam was ruled ineligible to stand for president because he was still a French citizen at the time he registered as a voter. His party may have exhausted options to challenge the order. “Somebody decided to take me off that list,” he said. “So the people who are putting the country at risk — it’s not us, it is the government.” A spokesman for the government didn't answer phone calls and a text message seeking a response to the accusations. Thiam also talks about his time as chief of the Swiss lender and the so-called “Spygate” saga that helped end his tenure, as well as his time in the UK banking world. He tells of when he turned down President Emmanuel Macron’s offer to become France’s finance minister because he didn’t believe a Black man would be accepted in the post. You can read the full Weekend Interview here. While not conceding defeat for this year’s election, Thiam is confident he’ll be able to contest the leadership of francophone Africa’s biggest economy again in five years. “They all tell me: ‘You have time. Why are you in such a hurry? You’re only 63. If you’re 80, you could be upset,’” he said. “This is the only place on the planet where I’m called young at the age of 63.” By the next vote, Thiam will be 15 years younger than Ivory Coast’s incumbent president is now. Key stories and opinion:
Thiam Vows to Fight On in Bid to Become President of Ivory Coast
Ivorian Opposition Rallies Against President’s Fourth-Term Bid
Ex-Credit Suisse Boss’ Bid to Run in Ivorian Vote Blocked Again
Ivory Coast’s Octogenarian Leader Announces Reelection Bid
Thiam Party’s Allies With Ex-President Before Ivorian Vote Ford, Glencore and ArcelorMittal this week announced plans to cut thousands of jobs in South Africa, dealing a further blow to an economy that’s contending with mass unemployment. Firms operating in Africa’s most-developed nation face major constraints, including costly electricity and increased competition from Asia. The 30% tariffs the US has imposed on some South African imports has exacerbated the challenges. Opposition parties and labor unions accuse the government of failing to stem an industrial decline.  An ArcelorMittal plant in Vanderbijlpark, South Africa. Photographer: Leon Sadiki/Bloomberg The governor of Ethiopia’s central bank who helped oversee extensive monetary reforms has resigned. Mamo Mihretu said he is leaving his post to pursue other interests. Since his appointment, the central bank has floated the birr currency, introduced a modern monetary-policy framework and opened up banking to foreign lenders. Those moves all helped unlock $10.5 billion in financing from the International Monetary Fund and the World Bank. The Democratic Republic of Congo declared an outbreak of Ebola virus disease in south-central Kasai province after 28 suspected cases and 15 deaths were reported. Patients presented symptoms including fever, vomiting and diarrhea. Health services in Congo have been under strain as war and the US government’s decision to cut funding hampered efforts to contain mpox, cholera and measles. Experts warned the pullback from outbreak responses will complicate efforts to stop Ebola. Zenith Bank, Nigeria’s second-largest lender by value, plans to expand outside its home market after it bolstered its capital. The bank is considering setting up new operations or buying existing ones in western and central Africa before moving to other parts of the continent, according to Olukayode Akinbinu, its head of strategy who is leading the expansion. A move into Ivory Coast is likely this year and then into Cameroon as soon as possible, he said in an interview. A United Arab Emirates ban on all trade with Sudan has badly impacted the North African nation’s gold exports, spurring it to seek alternative buyers. An internal report from Sudan’s Transportation Ministry shows the UAE decided to halt shipments on Aug. 7. Two Sudanese officials confirmed most of the nation’s gold exports to the UAE had ceased and that the government had reached a preliminary agreement with Oman to buy its bullion.  Port Sudan. Photographer: Eduardo Soteras/Bloomberg Africa’s poorest countries are increasingly faced with the stark choice of paying off costly loans or feeding their people, global development leaders have warned. The question is less about the availability of financing and more about the most appropriate mechanism to ensure struggling nations don’t sink deeper into debt, Alvaro Lario, president of the International Fund of Agricultural Development, said in an interview in Dakar, Senegal. Africa is home to 32 of the world’s 44 least-developed countries, according to the United Nations. Next Africa Quiz — Which African country signed a protocol with China that will enable it to export blueberries to the Asian nation for the first time? Send your answers to gbell16@bloomberg.net.  In this week’s Next Africa podcast, Bloomberg’s Matthew Hill and Mbongeni Mguni join Jennifer Zabasajja to discuss what impact a diamond-market slump is having on the ground in Botswana. Data Watch - South African business sentiment fell to the lowest level in a year as firms began navigating the new US tariff regime, a quarterly index compiled by Rand Merchant Bank and Stellenbosch University’s Bureau for Economic Research showed.
- Transnet, South Africa’s state-owned ports and freight rail operator, posted a narrower annual loss of 1.9 billion rand in the year through March after it boosted cargo volumes.
- Tanzania cut its standard value-added tax rate to 16% from 18%.
- Ghana’s inflation rate fell to the lowest level in almost four years, supporting the argument for more interest-rate cuts. Separately, a surge in demand for dollars ended the Ghanaian cedi’s world-beating performance.
Coming Up - Sept. 8 August inflation data for Angola, Tanzania
- Sept. 9 South Africa second-quarter GDP data
- Sept. 10 August inflation data for Senegal, Mozambique and Rwanda, Ghana second-quarter GDP data
- Sept. 11 South Africa current-account data for the second quarter, mining & manufacturing data for July, Namibia inflation data for August
- Sept. 12 Cape Verde inflation for August
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