S&P Global upgrades Nigeria outlook to positive amid strong reforms
S&P Global Ratings upgraded Nigeria’s outlook to positive, citing expected benefits from ongoing economic and fiscal reforms.
Ghana drops recovery levy and trims VAT to stimulate wider growth
Ghana has removed its Covid recovery levy and cut VAT to modernise its tax system and support economic growth as inflation eases and GDP strengthens.
Turkish drone maker Baykar strengthens presence across Africa
Turkish UAV manufacturer Baykar is expanding its exports and defence partnerships across Africa, showcasing its advanced drones at Mali’s Bamako Expo Fair.
Nigeria’s assembly approves extra 1.15 trillion naira to cover gap
Nigeria’s National Assembly approved 1.15 trillion naira in domestic borrowing to fund a 2025 budget shortfall amid strong investor confidence.
EU commits $2.3 billion to expand Zambia-Angola-DRC corridor
The EU has pledged $2.31 billion under its Global Gateway strategy to develop the Lobito Corridor linking Zambia, Angola, and the DRC to the Atlantic Ocean.
Egypt unveils new Western Desert gas discovery boosting reserves
Egypt has announced a new natural gas discovery in the Western Desert expected to boost reserves and production as part of efforts to strengthen energy self-sufficiency.
Tesla shareholders approve Elon Musk’s $1 trillion pay package
Tesla shareholders approved a $1 trillion pay package for Elon Musk, securing his leadership as the company pursues AI, robotics, and growth milestones.
Apple to integrate Google’s AI model in major Siri overhaul
Apple plans to use Google’s 1.2 trillion-parameter Gemini AI model to upgrade Siri, paying around $1 billion annually until its own system is ready.
Ghana inflation slows again as price pressures ease
Inflation in Ghana falls to 8 percent, the lowest since 2021
Saudi crown prince will meet Trump at White House to discuss deals
Saudi Arabia’s crown prince will meet Trump at the White House to discuss the Abraham Accords, regional security, and U.S. arms deals.
Zambia’s Zanaco to fund green, social initiatives through $100M bond
Zambia’s Zanaco plans to raise $100 million through the nation’s first sustainability bond to support renewable energy, agriculture, and climate-resilient projects.
Nigeria approves 15% fuel import duty to protect local refining
Nigeria has imposed a 15% import duty on petrol and diesel to protect domestic refineries and boost revenue amid broader fiscal reforms.
South African says text-based talks with US aim for better tariffs
South Africa moves forward in discussions with Washington to reduce tariffs while exploring new economic and trade opportunities.
Tesla eyes internal leaders if Elon Musk exits amid pay plan vote
Tesla may turn to internal CEO candidates if Elon Musk’s $1 trillion pay plan fails, highlighting his central role amid leadership gaps.
Nigeria’s Dangote plans expansion to become world’s largest
Nigeria’s Dangote refinery plans to double capacity and become the world’s largest within three years despite recent labour disputes and monopoly concerns.
China and the US resume talks in Kuala Lumpur on trade tensions
China and the United States hold crucial trade talks in Kuala Lumpur to prevent a new wave of tariffs and ease tensions.
South Africa strengthens ties with Afreximbank for African projects
South Africa has strengthened its partnership with Afreximbank to enhance trade, infrastructure, and industrial projects across the continent.
Coca-Cola HBC secures major African stake in $2.6 billion deal
Coca-Cola HBC agreed to buy a 75 percent stake in Coca-Cola Beverages Africa, creating the world’s second-largest Coca-Cola bottler and expanding across 14 markets.
Exxon Mobil expands African presence with Gabon offshore deal
Exxon Mobil has signed a non-binding agreement with Gabon to explore deepwater offshore oil and gas, expanding its African operations.
Egypt’s economy rebounds sharply as exports rise and inflation falls
Egypt’s economy is set to grow strongly over the next three years as inflation falls, interest rates ease, and a weaker currency supports exports and tourism.
Farmers say sunny spells boost cocoa quality across Ivory Coast regions
Recent light rains and sunny spells in Ivory Coast are boosting cocoa bean quality and supporting an abundant main crop through January.
Ankara highlights Turkey’s win-win approach with Africa
Türkiye is deepening ties with Africa through knowledge sharing, solidarity, and a moral partnership based on equality and mutual respect.
Morocco will reshape its budget to boost health and education
Morocco will reprioritise its budget to boost health, education, and regional equality in response to youth protests.
South Africa urges nations to challenge ratings agencies now
South African Reserve Bank Governor Lesetja Kganyago urged developing nations to challenge rating agencies to boost transparency and lower capital costs.
Italian court upholds prison sentence for prosecutors in Nigeria case
An Italian appeals court upheld an eight-month prison sentence for two Milan prosecutors for failing to submit documents relevant to the Eni-Shell corruption case.
Africa’s financial markets show mixed results amid trade shocks
African financial markets show mixed performance as trade shocks, reforms, and climate actions reshape growth prospects.
Botswana’s diamond firm expands sales as new De Beers deal begins
Botswana’s Okavango Diamond Company will begin selling directly to buyers next month after securing greater independence and a higher production share under a new deal with De Beers.