| 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. Democracy isn't returning to the Sahel any time soon. That's the key takeaway from an announcement by the military rulers of Mali, Burkina Faso and Niger that they'll quit the Economic Community of West African States — a bloc that their prior governments helped establish in 1975.  Niger security officers outside an airbase in the capital, Niamey. Photographer: AFP/Getty Images While the snub is largely symbolic, the juntas are clearly rejecting the pressure they've been under to hold elections. The rift between them and their richer coastal neighbors is also set to widen, setting back efforts to quell jihadist insurgencies. "This move dashes any hopes of restoring civilian rule in these countries in the medium term," says Pieter Scribante, a senior political economist at Oxford Economics. "It is doubtful whether Niger, Mali and Burkina Faso will be able to solve the insurgency problems without working with their neighbors." It also draws in Russia, which last week sent a contingent of troops to Burkina Faso and has been trying to drive a wedge between them and countries such as Ivory Coast and Senegal that have remained close to the region's dominant former colonial power, France. For now, there's no indication of whether the three will quit the West African Monetary Union or clarity on how their already strained trade relations with the bloc will be impacted. An economic deterioration in what are already some of the world's poorest countries appears likely. The juntas have sought to portray their actions as being in their people's best interests. It's more likely aimed at keeping the leaders — Burkina Faso's Ibrahim Traore, Mali's Assimi Goita and Abdourahamane Tiani in Niger — in power. — Katarina Hoije and Antony Sguazzin
Key stories and opinion:
West Africa Tension Rises as Three Juntas Abandon Ecowas
Russian Troops Begin Burkina Faso Deployment to Bolster Security
Future of US Drone Base Hinges on Niger's Return to Democracy
What's Driving the Coups Across Sub-Saharan Africa?: QuickTake
If US Exits Niger, Terrorists and Russians Win: Andreas Kluth Nigeria's naira plunged to a record against the dollar following a revision of the methodology used to set the exchange rate, in effect the second devaluation of the currency in seven months. The local unit depreciated 31% against the dollar on Monday in the so-called Nafex fixing, according to data published by FMDQ. That brings the naira closer to its parallel-market rate. It was devalued almost 30% in June as the central bank liberalized the currency regime. Here's an explainer on why the problems have been so hard to fix.  Russia is recruiting for an armed force to replace the Wagner group's mercenaries across Africa as part of a new push to expand its influence on the continent. The Africa Corps would bolster Russia's military presence through a network of planned Defense Ministry-controlled bases. It aims to enlist new recruits and former Wagner fighters by mid-year to deploy to at least five Russia-friendly countries — Burkina Faso, Libya, Mali, Niger and the Central African Republic. Italian Prime Minister Giorgia Meloni unveiled an investment plan worth more than €5.5 billion to strengthen her nation's relations with Africa and curb migration flows. "Mass illegal immigration will never be stopped, traffickers in human lives will never be defeated if we don't tackle the causes which push someone to abandon their own home," she told a gathering of about 25 African heads of state and government in Rome.  Giorgia Meloni and African leaders at the Italy Africa summit. Photographer: Alessia Pierdomenico/Bloomberg Senegalese opposition leader Ousmane Sonko, who has been barred from contesting presidential elections on Feb. 25, has thrown his backing behind his party deputy, Bassirou Faye. Prior to his exclusion, Sonko was seen as the biggest threat to President Macky Sall's chosen successor, Prime Minister Amadou Ba. Sonko was detained in July and accused of plotting an insurrection, criminal conspiracy and theft, among other crimes. South Africa's ruling African National Congress suspended former President Jacob Zuma after he said he won't vote for it in forthcoming national elections. Zuma announced last month that he will campaign for the newly formed uMkhonto WeSizwe, even as he insisted he remained a member of the ANC. The decision to censure Zuma will likely alienate part of the ANC's support base as it gears up for vote later this year, especially in his home province of KwaZulu-Natal.  Jacob Zuma. Photographer: Leon Sadiki/Bloomberg Real estate investor Cheick Sanankoua is buying a minority stake in a top Ivory Coast football club through his private equity firm Omega Sports as part of a larger $50 million push into Africa. The purchase of a stake in Racing Club d'Abidjan, a team based in the country's largest city, follows an investment in Abidjan Basketball Club. Sanankoua is a former analyst at Merrill Lynch and adviser at Helios Investment Partners. Thank you for your responses to our weekly Next Africa Quiz and congratulations to Peter Masue, who was the first to name Liberia as the country whose president had to cut short his inauguration speech last week because of heat exhaustion. With inflation expected to keep slowing, Ghana's central bank reduced borrowing costs to shore up the economy. The Bank of Ghana's monetary policy committee lowered its main interest rate to 29% from 30%, ending a pause that's been in place since September. Only three of 10 economists polled by Bloomberg predicted the move. Annual inflation eased to a 21-month low of 23.2% in December. Thanks for reading. We'll be back in your inbox with the next edition on Friday. Send any feedback to mcohen21@bloomberg.net. | 
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