Creditors extend Ethiopia’s repayment schedule without haircut
Ethiopia reached a deal with creditors to delay debt payments, gaining $2.5 billion in relief but avoiding any loan write-down.
South Africa aims to negotiate US tariff relief, not retaliate
South Africa will not retaliate against new U.S. tariffs but will seek exemptions and diversify export markets, officials said following Trump’s announcement.
South Africa pushes WTO reform after US imposes high tariffs
Following US tariffs on South African goods, officials call for WTO reforms to protect developing economies and uphold multilateral trade rules.
South Africa says Trump’s tariffs undermine AGOA trade benefits
AGOA, which provides qualifying African nations with duty-free access to the U.S. market, is set to expire in September
Congolese leader discusses mining deal with Trump Africa advisor
Tshisekedi and Trump’s senior envoy held talks on a possible mining deal and efforts to bring peace to eastern DR Congo, where violence is escalating.
Trump tariffs put key US-Africa trade programme at risk
The US-Africa trade programme AGOA is at risk as Trump imposes tariffs, raising concerns over African exports and economic partnerships.
World Bank invests $100M in Africa’s digital data growth
The IFC’s largest digital infrastructure investment in Africa reflects growing global interest in the continent’s digital economy
US imposes reciprocal tariffs with major penalties on imports
The US enacts new reciprocal tariffs, targeting key trade partners with higher penalties while aiming to boost domestic production and revenue.
World Bank approves $1.08B loan for Nigeria’s development
Initially a COVID-19 response, the funds now aid Nigeria’s post-2023 economic challenges
Kenya retracts debt restructuring claim after China talks
Kenya has been grappling with a heavy debt burden, and rising service costs have strained its finances
Saudis to distribute Chinese cars in South Africa
Jameel Motors partners with Changan to distribute sedans, SUVs and electric vehicles in South Africa, tapping into the region’s growing car market.
South Africa grants Eskom limited emissions exemptions
Government mandates stricter monitoring, health services amid pollution concerns
Sahel Alliance introduces import levy amid regional tensions
Mali, Burkina Faso, and Niger have imposed a 0.5% import levy to fund their new economic bloc after exiting ECOWAS, further deepening regional divisions.
Uganda partners with UAE firm to build key oil refinery
Uganda has signed an oil refinery deal with UAE-based Alpha MBM Investments, granting the firm a 60% stake in the 60,000-barrel-per-day project.
xAI to buy X platform in a $33 billion deal says Elon Musk
Elon Musk says his AI startup xAI is acquiring X in a $33 billion deal to integrate artificial intelligence with the platform’s extensive user base.
US stocks fall sharply as tariff fears shake Wall Street
Wall Street suffered sharp losses as tariff concerns and inflation fears triggered a sell-off across major indexes raising concerns about future earnings.
Kenya seeks new IMF loan, denies disagreements
Kenya applies for a fresh IMF deal with unused funds, denying claims of problems with the current programme.
Ghana’s Central Bank governor says inflation remains too high
The Bank of Ghana aims for an inflation target of 8%, with a permissible range of 2 percentage points on either side
Turkey’s stock rally fades as political turmoil weighs on markets
The benchmark Borsa Istanbul index (.XU100) ended last week down 16.6%, its worst drop since 2008
DR Congo considers extending cobalt export ban to stabilize prices
The Congolese government is considering extending its cobalt export ban after prices jumped over 50% since the restrictions began in February.
Ethiopia restructures $8.4 billion in debt to stabilize economy
Ethiopia secured a deal to restructure $8.4 billion in debt, aiming to stabilize its economy after years of financial strain and high inflation.
Ethiopia imposes new tax to replace lost USAID funding
In response to the USAID aid freeze, Ethiopia’s parliament has imposed a tax on workers and businesses to support critical development and relief programs.
Nigerian refinery halts fuel supply amid naira deal stall
Dangote Petroleum Refinery cites a mismatch between naira sales and dollar-denominated crude purchases for the temporary suspension.
DR Congo to limit cobalt exports, partner with Indonesia
DRC, the world’s largest cobalt producer, had been considering export quotas since imposing the ban
Alphabet to acquire Wiz for $32B to boost cloud security
The acquisition price is significantly higher than the $23 billion Google had previously offered for Wiz last year before regulatory concerns stalled the deal
Egypt and Capricorn energy negotiate western desert agreements
Capricorn Energy is in advanced discussions with Egypt regarding gas concession agreements in the Western Desert.
Turkey announces oil, gas agreement with US
Turkish Petroleum has formed a joint venture with US oil giants Continental Resources and TransAtlantic Petroleum to develop unconventional oil and natural gas resources in Turkey.