- 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…
- In Q2 2024, Nigeria spent ₦12,473.53 billion on imports, accounting for 39.11% of its overall commerce. During this time, Nigeria traded with a number of countries within and outside of Africa. The West African country imported a wide variety of items from these countries.
- Recently, Kenyan lawmakers have begun looking into the prospect of extending the terms served by the president and parliamentary members (MPs). The bill proposes a 7 year presidential term as opposed to the current 5 years. The term increase also applies to governors, MPs, and Members of the County…
- While many applicants face hurdles when applying for a temporary U.S. visa, certain countries enjoy notably low rejection rates. Seychelles boasts the lowest U.S. visa rejection rate, standing at 4.55%.
- Some African countries possess only a limited number of modern self-propelled artillery units. For instance, the Republic of Congo has just two such units, ranking 96th according to Global Firepower.
- Some African countries possess only a limited number of modern self-propelled artillery units. For instance, the Republic of Congo has just two such units, ranking 96th according to Global Firepower.
- Brazilian state-run oil company Petrobras announced on Tuesday that its board has approved the acquisition of a 10% stake in the offshore Deep Western Orange Basin (DWOB) oil block in South Africa.
- Nigeria’s petrol usage has significantly declined in response to the country’s removal of fuel subsidy, despite an increase in locally produced fuel. The current president of the country; Bola Tinubu, had removed the fuel subsidies on his inauguration day. Since then, the country has faced its…
- Kenya's inflation rate fell in September relative to August. According to the East African country’s bureau of statistics, Kenya’s inflation rate dropped to 3.6% from 4.4% the month prior.
- In African cities, high prices of food may have a significant impact on households, local economies, and broader societal dynamics. While farmers markets are more common in many African nations, grocery stores are about equally distributed. As a result, groceries in many African nations have a…
- Uganda has received its first batch of line pipes for its East African Crude Oil Pipeline (Eacop). The east African country received the shipment on Monday at the pipe yard in Kyotera District. This is months after Tanzania received its first batch of pipes for the joint project.
- The United Nations security council, on Monday was informed about the large sum rebels generate in the eastern part of the Democratic Republic of Congo (DRC). They were informed on the illegal tantalum operations going on in the area.
- On Monday, Angolan billionaire Isabel dos Santos lost her appeal to lift an order freezing up to £580 million ($778 million) of her assets in a lawsuit at London’s High Court.
- Despite the fact that a large loan from the International Monetary Fund (IMF) can provide critical financial support and help stabilize an economy, notably in some African countries, it also includes significant responsibilities that a country must properly handle. In effect to considerable IMF aid…
- Since around the year 2000, the global prison population has grown by 27%. In Africa, the prison population has gone up by 53%, but that’s less than the continent's general population increase of 78%.
- The World Bank has approved a $1.57 billion financing package for Nigeria as part of a new program aimed at boosting the country's health and education sectors.
- In recent years, Russia has been consolidating its energy-related arrangements with a number of African nations. In light of the Russian Energy Week which took place in Moscow from September 26-28, conversations on such deals have gained traction. As a result, several African countries including…
- Getting a U.S. visa can be an uphill task, especially for people coming from countries with high rejection rates. In Africa, Mali has the highest rejection rate at a staggering 60.16%. Following closely is Gambia, with a rejection rate of 60.40%, and Guinea comes in third at 61.37%.
- In the span of a year, Nigeria has suffered an unprecedented rate of food inflation, particularly for its most consumed items. Food products like beans and rice have been a source of concern for average consumers as they battle to keep up with rising costs.
- Russia's association with various West African countries, notably those in the Alliance of Sahel States (AES), has been burgeoning, to say the least. From security deals to energy deals, Russia has begun imprinting its influence in these countries, in place of the rejected western affiliation.…
- Self-propelled artillery units are a defining feature of modern military power. In Africa, where military modernization is a growing focus for many countries, nations like Egypt and Morocco possess strong SPA units.
- The United Nations (UN) receives a significant amount of its military and law enforcement personnel from Africa. This also applies to the experts from African countries dispatched on UN missions. Said experts, like the name suggests, are given special missions only experts can conduct, as well as…
- In global finance, few metrics carry as much weight as a country's foreign exchange and gold reserves. These reserves are like a financial safety net, helping countries weather economic storms, stabilize their currencies, and handle international debts.
- While two of Africa’s richest men; South Africa’s Johann Rupert and Nigeria’s Aliko Dangote, continue to vie for the position of Africa’s richest man, a deeper look into the cat and mouse game between them in recent months shows a clear distinction between both men. Dangote's wealth since August…
- Zimbabwe has devalued its gold-backed currency, the Zimbabwe Gold (ZiG), selling it to banks at a rate 44% lower than the prevailing dollar exchange rate.
- At least five African nations are collaborating on what could become the world's first joint "debt-for-nature" swap, aiming to raise over $2 billion to protect a coral-rich region of the Indian Ocean.
- The World Bank is trying to reach a compromise with the Eastern African country of Uganda concerning their conflicting stances on gay relationships. In 2023, Uganda imposed a strict anti-gay bill, which allows harsh punishments to be met to anyone identifying as homosexual. In response, the World…
- A French journalist, Wassim Nasr, is facing a lawsuit brought to him by the Sahel State coalition. The Junta governments of Mali, Niger, and Burkina Faso believe that the journalist is culpable for instigating acts of terrorism. They claim that he has been in contact with terrorists who are…
- Nigeria's young, rapidly expanding population presents a serious challenge for its government as it relates to creating enough jobs to accommodate the thousands of new workers who join the labor market annually. Particularly concerning is the high rate of youth unemployment, which fuels social…
- South Africa is ready to welcome partners from major nuclear markets to expand its own nuclear capacity. The South African government acknowledged members of the BRICS group as a prospective partnes. In July, South Africa's Minister of electricity and Energy, Kgosientsho Ramokgopa, stated that the…
- About 931 million tons of food are wasted every year, which accounts for 8 to 10 per cent of international carbon emissions related to unconsumed food. Nigeria ranks among the top nations in food waste with a per capita waste of 189 kilograms and an annual total of 37.9 million tons.
- Egypt’s local smartphone market has been expanding of late and is now seeing double-digit growth in 2024, courtesy of favourable policies, such as tax breaks and infrastructure improvements, implemented by the government.
- Some countries are expected to welcome more individuals into the millionaire club as the world’s population makes substantial progress in terms of wealth per adult.
- South Africa’s household net wealth increased in the second quarter of 2024 as the market valuation of their total assets exceeded that of their total liabilities.
- The sports betting market in Africa is huge with many dedicated end-users who spend a considerable amount on different platforms which may be online or offline.
- Exxon Mobil Corp has announced plans for a $10 billion investment in offshore oil operations as part of a renewed push in Nigeria, Africa's fourth largest economy.
- Shorter working hours can be a boon for both individuals and society, offering several key benefits that address the challenges posed by extended work hours in many African countries. While long working hours have its benefits, it also comes with several consequences. As a result, companies whose…
- The Bank of Tanzania is looking to put a lid on the liberties enjoyed by non-deposit digital platforms, specifically those that fall under Tier 2. This is a result of the conduct of some of these platforms which have led to distressing consequences of little regulations. Tanzania is hardly the…
- Russia and Zimbabwe are looking to bolster their relationship by allowing easy access for citizens of both countries into each other’s borders. Currently it costs about $30 dollars to gain entry into the Southern African country. However, should an agreement be reached Russians would freely be able…
- Africa is one of the largest contributors of troops and police officers to United Nations (UN) peacekeeping operations. Some countries on the continent even rank among some of the world’s top donors. This often translates to the experts from African countries sent on special UN missions.
