New strike disrupts daily life in Nigeria as government struggles to address economic crisis.
ENI and Congo celebrate the launch of the Congo LNG project, increasing global gas supply and boosting the African nation’s economy.
Google announced that the product, which was launched in the US last December, will now be available for African businesses.
Niger delays reopening its border with Benin after ECOWAS lifts coup-related sanctions, raising questions about dialogue and regional stability.
Negotiations prevent oil shutdown in Libya as PFG salaries increase.
South Africa’s unemployment rate, already the highest in the world, rose to 32.1% in the fourth quarter of 2023.
A $35 billion investment from the UAE promises to revitalize Egypt’s economy, with a focus on tourism, infrastructure, and debt relief.
Nigeria’s Lagos state governor unveils measures like a 3-day work week and transport discounts to combat soaring inflation after protests erupt due to economic crisis.
South Africa’s pre-election budget hikes taxes on income, alcohol, and cigarettes, while increasing social grant spending to address poverty and unemployment amid slow growth and high debt.
A ceremony marks the signing of military cooperation agreements and cash aid protocol between two hypothetical nations.
Facing low PGM prices and profit plunge, Amplats announces 3,700 job cuts in South Africa, impacting 17% of workforce.
Nigerians in Ibadan protest economic hardship, demanding action from President Tinubu as soaring food prices cause hunger and hardship.
Kenya’s government successfully repurchased over $1.4 billion of its $2 billion international bond, alleviating investor concerns about its strained public finances.
As the fashion industry worldwide increasingly embraces more eco-friendly material, an innovative project in Kenya is turning leftover pineapple leaves into footwear.
The Democratic Republic of Congo is looking for modern investors in its mineral sector.
Global leaders at World Governments Summit address risks to the world economy posed by Gaza and Red Sea tensions.
Germany replaces Russian gas with Algerian pipeline, partnering with Sonatrach for long-term supply.
Kenya secures a groundbreaking $500M Samurai bond with Japan, boosting energy efficiency and innovation in its transmission network.
World Bank executives confer with Nigerian officials on ambitious economic recovery plans, focusing on critical sectors for sustainable growth.
Central bank data reveals a record deficit of 841 billion pounds in Egypt’s net foreign assets amid commercial bank struggles.
Company sees productivity gains in all sectors by infusing artificial intelligence across every layer, says CEO
Republic of The Gambia and the Kingdom of Morocco signed several cooperation agreements and memoranda of understanding on the sidelines of the 3rd session of the Joint Cooperation Commission between Morocco and The Gambia. The session was held under the co-chairmanship of the Minister of Foreign Affairs, African Cooperation, and Moroccan Expatriates, Nasser Bourita, and his Gambian counterpart, Mamadou Tangara. One of the agreements concerns mutual assistance between the customs administrations of both countries to enforce customs legislation and prevent, investigate, and suppress customs offences. Another agreement was signed in the field of maritime fishing to establish a framework for cooperation between the two parties in various areas of maritime fishing, including fishing, technical and scientific research, aquaculture, fish processing industries, and promoting partnerships in the private sector of maritime fishing.
Total turnover at the Nigerian equities market rode on the back of intense bargain-hunting to its highest in a decade. The market performance was driven largely by increased transactions by institutional and individual Nigerian investors amid optimism that ongoing economic reforms would lead to improved returns. Official report by the Nigerian Exchange (NGX) at the weekend indicated that total transactions at the equities market rose by 53.94 per cent to N3.578 trillion by the year ended December 31, 2023 as against N2.324 trillion recorded the previous year. The previous highest turnover was in 2014 when the market recorded transactions worth N2.676 trillion. The lowest turnover was in 2016 with total transactions of N1.511 trillion. It had dropped from N2.168 trillion in 2020 to N1.899 trillion in 2021. Transactions over the years included N1.928 trillion in 2019, N2.404 trillion in 2018, N2.543 trillion in 2017, N1.906 trillion in 2015 and N2.051 trillion in 2013. The record surge in transactions’ value further underscored that the record-breaking price appreciation at the Nigerian market was underpinned by strong demand.
Central Bank of Nigeria intervenes with a $500 million boost to eliminate forex backlog, bolstering economic stability.
Spot freight price of 40-foot container rose to nearly $4,000, according to UK-based maritime research firm.
Egypt grapples with inflation, debt, and dependence on mega-projects. Sisi seeks IMF lifeline but faces pressure to reform and curb military influence.