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Nelson Chamisa congratulates Ramaphosa for being re-elected as ANC President



Chamisa and Ramaphosa

Zimbabwe’s main opposition Citizens Coalition for Change (CCC) leader Nelson Chamisa has congratulated South African president, Cyril Ramaphosa for being re-elected as leader of the ruling African National Congress (ANC) for a second five-year term in a party leadership contest.

Ramaphosa won 2,476 against his rival, Zweli Mkhize, a former party treasurer and health minister who garnered 1,897 votes from a total of 4,386 votes cast by party delegates from across the country.

Chamisa paid tribute to the elected ANC leaders and pledged to work with them to build Africa.

“Congratulations to HE Cyril Ramaphosa and Paul Mashatile for being elected President and Vice President of the ANC respectively. I also congratulate my brother and Cde Mbalula Fikile for being elected Secretary General. Let us build a New Africa! Mayibuye iAfrica,” he said.

Commenting on Ramaphosa’s victory, Richard Calland, a professor at the University of Cape Town told The Guardian that:

“Ramaphosa has snatched victory from the jaws of defeat … He was on the verge of resignation just weeks ago but has emerged stronger and more powerful. It is a remarkable turnaround,” he said.

Ramaphosa’s campaign for the past few days was marred with controversy. He was embroiled in a scandal which recently caused calls for him to step down as the country’s president over a corruption scandal.

He survived a vote to start impeachment proceedings against him last week over a parliamentary report that said he might have broken anti-corruption laws by keeping undeclared sums of money at his farm, a scandal now dubbed “Farmgate”.

The ANC leader however denied wrongdoing and has not been charged with a crime over the so-called Farmgate scandal, but it has raised questions about how he acquired the money and why he didn’t declare it.

In other news – Typhoid outbreak hits Harare

Harare City has been hit by a typhoid outbreak with more than sixty confirmed cases.



Harare City Health director, Dr Prosper Chonzi says the western suburbs of Budiriro, Glen View and Glen Norah have been hit by a typhoid outbreak with over sixty confirmed cases recorded so far. Learn More

Africa News

“Record Mortgage Rates Decimate Buyer Demand, Hitting 28-Year Lows”




Mortgage rates surged last week, reaching their highest level in 23 years, causing a significant drop in demand from homebuyers, which hit a 28-year low. The Mortgage Bankers Association reported a 4.2% decrease in total mortgage application volume compared to the previous week.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (up to $726,200) rose to 7.31% from 7.16%, accompanied by an increase in points from 0.68 to 0.78 (including the origination fee) for loans with a 20% down payment. In contrast, the rate was 5.65% during the same period last year.

Joel Kan, an economist at the MBA, attributed the spike in Treasury yields to concerns about lingering inflation and illiquidity in the markets. The resulting impact was a 5% decline in applications for mortgages to purchase homes, marking a 30% decrease compared to the corresponding week in the previous year. Buyer demand fell to its lowest level since December 1995. In addition to high interest rates, potential homebuyers are grappling with elevated prices and extremely limited housing supply, with the number of available homes on the market near a 25-year low, as reported by the National Association of Realtors.

The share of adjustable-rate mortgage (ARM) applications increased to 7.6%, the highest level in five months. ARM applications saw a 4% weekly increase as some buyers sought to reduce their monthly payments by assuming interest rate risk after the initial fixed period.

Refinancing activity also experienced a decline, with a 3% drop in applications for home loan refinancing compared to the previous week, and a 35% decrease year over year. The refinance share of mortgage activity rose to 29.5% of total applications from 28.6% in the previous week. However, given that most homeowners already have rates below the 5% range, the number of homeowners who can benefit from refinancing is limited.

Mortgage rates continued their upward trajectory this week, hovering around 7.5%, according to Mortgage News Daily.

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Africa News

Man who believes to be ‘The Real Son Of God’ warns Ruto to prepare for whats coming in the next 460 days





Controversial Eliud Wekesa, a citizen of Bungoma, has pleaded with the nation’s leader, His Excellency President William Samoei Ruto, to be ready for what is expected to occur in the next 460 days. Eliud Wekesa’s picture, who says he is the son of “God,”

In a Tuko News article, Mr. Wekesa, who claims to be the true son of “God,” predicted that significant events will occur soon and questioned if President Ruto would be prepared for what “God” would do.

According to the source, he claimed that “God” had told him that, with all of its current resources, Kenya will soon rule the entire world.

Kenyans became worried as Eliud Wekesa left them asking many questions as he made this message to President William Ruto.

In other news – 95-year-old woman dies after being tasered by police in Australia

A 95-year-old woman who was tasered by police at an Australian care home, sparking a public outcry, has died.

Clare Nowland was critically injured after police responded to reports she was wandering around the home with a steak knife at about 04:00 last Wednesday.Learn More

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