- Nigeria’s daily oil production for July increased significantly from the previous month. As reported by Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Nigeria’s average daily production stood at 1.61 million barrels per day as of July 23.
- Africa's largest solar rooftop installation was recently launched in Ghana. Herbert Krapah, the country’s Minister of State for Energy, heralded the launch on Thursday.
- Mali and Burkina Faso have seen dramatic shifts, with their rejection rates dropping by 40 and 37 percentage points, respectively, making them the most accepting of military rule today.
- The informal sector in Nigeria has become a pillar of the country’s overall economy, providing livelihoods and sustenance to millions. These Nigerians rely on the informal sector for work and money, making it a vital part of the nation's economy. This sector covers a wide range of activities. It…
- Amnesty International has revealed that new weapons from countries such as Russia and Turkey have been amplifying the war in Sudan. The report examined a large sample size of documents from two different shipment-level trade information providers to determine their findings. There has been a very…
- Angola's new Cabinda crude oil refinery is set to commence operations later this year, with a target to reach full production of 30,000 barrels per day by July next year.
- South Africa’s recently re-elected president Cyril Ramaphosa made the historic decision to name South Africa’s first female Chief Justice. The Judiciary position has been held by a man since 1910 when the role was established. The incumbent Chief Justice has also been the first woman to hold a…
- Nigeria is blessed with abundant natural resources, particularly crude oil. However, the country’s refining capacity has been historically insufficient to meet the demands of its growing population and economy.
- Christianity's presence in Africa continues to adapt to the continent's dynamic social, political, and economic landscapes. The discourse around the Christian institution in Africa is complex, with varying degrees of support, opposition, and ambivalence. Nonetheless, Christianity has become one of…
- Nigeria imported $2.8 billion worth of petroleum oils and oils obtained from bituminous minerals from Malta in 2023, marking a 342 per cent increase from $47.5 million in 2013.
- The classification of several African countries as lower-middle-income puts them in a distinct position globally. Although this classification denotes a step up from low-income status, it also has a unique mix of benefits and drawbacks that influence these countries' growth paths.
- The rise in diesel costs affects a variety of businesses, including transportation, agriculture, and the total cost of living. This is especially true in countries that haven't explored alternative energy sources. However, a developing country with low diesel price has by extension provided some…
- According to a recent report, Tanzania has become Uganda’s number one import option within the East African Community (EAC). This is a result of Uganda’s gold trade worth close to $3 billion. Uganda typically buys unrefined gold and re-sells the refined product. It has a market for this product…
- Namibia is on the verge of implementing a new visa policy, some have described as fair. Namibians looking to travel to some countries have to go through very lengthy, pricey and stressful processes. In response, citizens from those countries would now have to go through a comparable procedure…
- A number of African countries have advanced into upper-middle income status in recent years, which is a major turning point in the economic progress of the entire continent. For African nations, reaching upper-middle income status is an important milestone that indicates their progress toward…
- Meta, the parent company of WhatsApp, Facebook, and Instagram, has announced the removal of about 63,000 accounts in Nigeria involved in financial sexual extortion scams, predominantly targeting adult men in the United States.
- In June 2024, a few African countries saw a reduction in fuel prices, even amongst African countries known to typically have very low fuel costs on the continent, the month of July had a similar trend. The fluctuations were brought about by a combination of economic factors, both domestic and…
- Unofficial Libyan banknotes, some printed by Russia and others illicitly produced within Libya, have been exchanged for real dollars, contributing to the devaluation of the dinar.
- Recent revelations from Tanzania's ambassador to Russia, Andrey Avetisyan, indicate that the two countries are actively working to increase bilateral trade by using their national currencies for transactions. Banks from both nations have already begun working out the kinks. Russia has been on a…
- The anti-corruption protest in Uganda has resulted in the detention of approximately 60 persons. Last week Uganda's president warned against protests, urging the people to redirect their energies toward more productive activity. The protest began on Tuesday, nonetheless, as Ugandans opted to follow…
- Nigerians protest for several reasons, including corruption, tax issues, economic hardship, salary increments, police brutality, and gender equality.
- Botswana is proposing a new law requiring mining companies to sell a 24% stake in their operations to locals once a license is granted. Botswana is a country rich in precious natural resources, especially diamonds.
- American financial technology firm Mercury has announced that it will close the accounts of businesses in 37 countries including 13 African countries. The move, effective August 22, 2024, has sent shockwaves through the continent's tech ecosystem.
- As presently constructed several African countries have few options for visa-free travel, even within Africa, underscoring a huge problem the continent shares with its travel restrictions. For context, according to Henley and Partners' latest Visa Bias report on Africa, Europeans can travel across…
- Some countries in Africa boast a degree of safety. According to Numbeo, one of the world’s leading data and research platforms, countries like Rwanda, Tunisia, and Ghana are among the safest in the world.
- The monetary policy committee of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) by 50 basis points, raising it from 26.25% to 26.75% in response to galloping inflation.
- Africa and the Arab World have decided to further deepen their economic ties. This recent development aims to build upon a 50 year partnership and mobilize financial resources for Africa's development. The partnership was announced at the 6th AU Mid-Year Coordination Meeting which was held in the…
- A senior U.S. official stated that Dan Gertler’s royalties in the Democratic Republic of Congo should be directed to the country’s government as a condition for any agreement that would alleviate sanctions on the billionaire mining magnate accused of corruption.
- Diesel prices vary per country due to variables like taxes and subsidies. Despite having access to the same international petroleum pricing, each country imposes its own set of levies, even amongst African countries. As a result, retail costs for petroleum products vary over the world, with some…
- The former presidential candidate for Nigeria's Labor Party: Peter Obi has spoken on the ongoing debacle between the government and Africa's richest man; Dangote. Dangote's refinery has been plagued by a series of challenges, stemming from its inability to obtain crude from Nigeria. Very recently,…
- Many World Trade Organization (WTO) members have shown support for a group of African countries advocating for Director-General Ngozi Okonjo-Iweala to pursue a second four-year term, Bloomberg reported.
- While travel narratives about African countries often focus on safaris, historical sites, and breathtaking landscapes, the concept of being "kid-friendly" expands beyond mere attractions to encompass child activities, safety, and inclusivity. Given its young population, Africa boasts some of the…
- Globally, rough diamond production is undertaken by only 22 countries extracting them from deposits within their borders. Remarkably, eight African nations have secured prestigious positions within the top ten diamond-producing countries worldwide in 2023.
- Dangote recently opened up about his decision to invest in Nigeria, stating that his friend who advised against it, is now making fun of him. The Dangote refinery, which is said to have a capacity of 650,000 barrels per day has been faced with severe shortcomings. Nigeria, so far, has proven to be…
- Most of the African countries that boasted the highest fuel prices in June saw a slight increase in fuel cost in July. Energy expenses significantly benefit businesses and their customers; consequently, the lower the cost, the better. On the other hand, the higher the price, the more damaging it is.
- Businesses within the East African community are investing more and more into the Kenyan market. Wealthy investors in companies from neighboring countries such as Tanzania, Uganda, Rwanda, and Somalia have been increasing their influence in Kenya. This expansion of foreign businesses into Kenya is…
- Africa’s richest man, Aliko Dangote, has expressed his willingness to transfer ownership of his multibillion-dollar oil refinery to the state-owned energy company, NNPC Limited, in an interview with Premium Times.
- Nigeria's Dangote refinery is in discussions with Libya to secure crude oil for its 650,000 barrels per day (bpd) plant and is also exploring options to source oil from Angola.
- The protesters made it clear that their mission is to urge the International Monetary Fund (IMF) not to loan Kenya any money, alleging that previous loans have either been lost through corruption or used carelessly with little to show for the same. This is part of an ongoing protest that has rocked…
- Speaking about the demonstration that is scheduled for this month, the president of Uganda; Yoweri Museveni has advised people who wish to participate to engage in more constructive endeavors. With the ongoing protests in their fellow East African state; Kenya, Ugandan youths have decided to…
- Education is an important instrument in turning the trajectory of Africa’s economic growth towards the right direction. While being in an African university encapsulates several aspects of the entire school experience, the most critical component is the teaching quality. Great teaching skills is…
- The Namibian visa extension applied for by the Ugandan monarch; has been denied. The Namibian authorities denied the visa extension owing to its immigration laws, and pressures from Ugandan citizens. A group of Ugandans concerned about the king's wellbeing was briefly detained and probed by…
