- In March Burkina Faso and Russia, through its state-owned energy company, Rosatom, spoke about establishing a nuclear project in the West African country. Very recently, both parties opened dialogue on the prospect of a renewable energy deal. This new proposal came on the heels of the 3 day forum…
- Despite Kenya's efforts to lower its debt burden, the government seems to be in need of more loans. As a result, the East African country is looking ahead to further lending from the International Monetary Fund (IMF).
- NNPCL Petrol stations, and other marketers today, increased their pump prices for the fourth time since President Tinubu's administration came on board. The price spiked by 15% to N1,030 per litre as the NNPCL backed out as a middleman in the petroleum industry setting the stage for direct price…
- Reports suggest that fuel stations owned by independent marketers are also adjusting their prices, with many crossing the N1,000 per litre threshold.
- Russia's Wagner mercenary group announced that it had recovered the bodies of its fighters killed during a fierce July battle against Tuareg rebels and Islamist militants in Mali.
- In a move to bolster its dilapidated oil production infrastructure Nigeria is looking to partner with South Korea to build several oil refineries across the country. For decades now, the country has been completely reliant on imported petroleum products. However, there seems to be paradigm shift…
- The Kenyan interest rate has been cut by a large margin, the like of which was last seen during the global pandemic. The Kenyan economy has been on a recovery path given its steadily declining inflation levels since the year began. As a result, the country’s central bank is inclined to ease debt…
- Nigeria's capital importation increased considerably in the second quarter of 2024 compared to the same period last year. The overall capital inflow stood at US$2,604.50 million, in the period under review. This represented a 152.81% rise from the US$1.030.21 million reported in the same period of…
- Nigeria's capital importation increased considerably in the second quarter of 2024 compared to the same period last year. The overall capital inflow stood at US$2,604.50 million, in the period under review. This represented a 152.81% rise from the US$1.030.21 million reported in the same period of…
- During a recent visit, the prime minister of Burkina Faso, Kyélem de Tambèla has reaffirmed the country's commitment to partnering with Russia, noting that Russia offers more than just weapons.
- President Yoweri Museveni has offered assistance to the United States Congress in reviving its National Prayer Breakfast Group, which has seemingly disappeared from public view.
- Burkina Faso's military junta has suspended U.S.-funded news organisation Voice of America (VOA) for three months, according to a statement from the Superior Council for Communication (CSC).
- It seems logical to assume that France, the nation from where the French language originated, has the largest French-speaking population in the world. While this is somewhat true, it is not totally accurate. In fact, several African cities have more French-speaking residents than some cities in…
- About seven developing countries are currently in danger of facing bankruptcy or in need of a bailout due to piling debt which is slowly gearing towards a default level.
- South Africa’s Standard Bank Group has consistently held the title of Africa's top bank year after year, while the National Bank of Egypt has maintained second place for the past four years.
- The Dangote oil refinery is gearing up to take in around 400,000 barrels of Nigerian crude daily over the next few months, shaking up Africa’s import and export scene.
- The world's poorest nations are being forced to prioritize debt repayments over important investments, affecting their progress toward achieving sustainable development goals.
- Hundreds of teachers in Zimbabwe held a peaceful demonstration over the weekend to demand salary increases amidst a backdrop of ongoing economic challenges.
- The combined GDP of all African countries which currently stands at $2.8 trillion in 2024 is partly fueled by the strengths of Africa’s super five economies that power the continent.
- Attack helicopters are specialized military assets typically used by the army or air force to provide firepower and close air support (CAS) for ground troops. On the continent, Egypt leads the pack with 100 attack helicopters, ranking 7th globally.
- The Nigerian National Petroleum Company Limited (NNPC), Nigeria’s oil regulatory body, has reportedly decided to be hands off with the operations of Dangote’s refinery. Once actualized, fuel pricing would be determined by market forces as defined by the Dangote refinery and marketers. This is…
- There were significant transformations in Africa’s business landscape in the last three quarters of 2024 which also reflected in the net worth fluctuations of some of the continent's richest individuals.
- Foreign investment in Kenya has significantly increased in the first half of the year, compared to the fiscal year prior indicating growing investor confidence as inflation eases in the East African nation.
- As of 2023, Egypt held the largest share of Africa's GDP at 13.63%, according to an IMF report, followed by South Africa with 13.01%, and Nigeria in third place with 12.50%.
- The government of Zimbabwe, in an attempt to mitigate the impact of the recent devaluation of the ZiG, has announced that salary raises and an annual bonus for civil servants in the country will be paid in US dollars.
- The federal government of Nigeria has commenced the sale of its crude oil to Dangote Refinery and other refineries in its local currency, naira, effective October 1, 2024.
- The West African country of Burkina Faso is looking to increase its gold autonomy. The country intends to bolster production of gold via indigenous mining establishments. As a result, several foreign mining companies in the country are at risk of being expelled.
- In light of the Navy Festival currently taking place in South Africa, thousands of people are gathering at Simon's Town to enjoy exhibitions of the country's naval prowess. Of these displays are Russian warships which reportedly dazzled those in attendance. Russia and South Africa share a budding…
- Across the world, more than 365 million Christians suffer high to extreme levels of persecution and discrimination for their faith in Jesus. That’s 1 in 7 Christians worldwide, according to a World Watch List by Open Doors.
- While large-scale mining companies must follow stringent environmental regulations, the artisanal and small-scale mining sector remains far less controlled.
- High cost of groceries within a city, has the potential to significantly affect households, the economy, and wider socioeconomic dynamics. Fortunately, this problem is non-existent in several regions globally. Among said regions are some African cities.
- Countries, like companies, have brands that reflect their identity, values, and perceptions. In Africa, the importance of national branding is particularly pronounced, with countries competing for attention and investment in the global market.
- Nigeria's central bank has announced the introduction of an Electronic Foreign Exchange Matching System (EFEMS), for Foreign Exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM).
- Nigeria's export value decreased in the second quarter of 2024 compared to the quarter before. When compared to the same quarter last year, the nation did, however, see an uptick. This was partly thanks to the products the country exported to other African countries, including its ECOWAS neighbors.
- In light of the growing demand for copper, cobalt, lithium, all of which are necessary to power the growing tech age, and a greener earth, countries with large reserves of these minerals are prime for larger revenue generation. Fortunately, there are numerous countries in Africa which fall under…
- The National Bank of Ethiopia has allocated $175 million in foreign exchange to the state-owned Ethiopian Petroleum Supply Enterprise to cover upcoming fuel-related import payments.
- While African youth generally do not consider Russia to be among the most influential international players in the region, about two in five (41%) still perceive it as having some influence in their countries, a level well below that of the US and China.
- Tanzania has issued a suspension on the digital platforms of Mwananchi Communications Ltd for putting out content it deemed damaging to the country’s image. However, the opposition to the ruling party criticized the move, urging the government to lift the ban. Currently, it is unclear which content…
- Tanzania has issued a suspension on the digital platforms of Mwananchi Communications Ltd for putting out content it deemed damaging to the country’s image. However, the opposition to the ruling party criticized the move, urging the government to lift the ban. Currently, it is unclear which content…
- While loans from the International Monetary Fund (IMF) can provide critical financial support and help to stabilize an economy, they can also come with major obligations and obstacles. When a country receives considerable loan from the IMF, its risks incurring a nagging debt burden. This is why…
- Libya is set to resume oil production on Thursday, bringing hundreds of thousands of barrels per day back to global markets after resolving a political standoff.
- Zimbabwe has eased its mandate for lithium miners to process the mineral domestically, as the sector struggles with a price slump over the past year.
- The expense of eating nutritious meals in Nigeria has been a cause of concern for the average citizen in the last year. For a little more than a year, Nigeria has seen some of its worst food inflation, putting a balanced diet further out of reach for the common man. However, the cost of eating a…
