BRICS decry US tariffs, global trade risks
US tariffs come under fire from BRICS nations for disrupting the global economy and breaching WTO rules.
US tariff shocks will hit Africa, says AfDB president
US tariffs could send shock waves through African economies, with weakened currencies and rising inflation, according to AfDB president Adesina.
Egypt raises fuel prices for the first time in 2025
The Egyptian government raises diesel and gasoline prices for the first time in 2025 in line with its IMF agreement to reduce fuel subsidies.
Trump’s auto tariffs may cost US carmakers $108B in 2025
A new study warns Trump’s 25% auto tariffs may cost U.S. carmakers $108 billion in 2025 with Detroit automakers hit hardest.
Fitch sees manageable risk to Africa’s credit from tensions
Fitch says Africa’s credit ratings can handle aid freezes and trade issues as reforms help countries like Nigeria and Seychelles stay on positive paths.
Egypt’s inflation jumps to 13.6% in March 2025
On a monthly basis, prices were 1.6% higher in March compared to February, with food and beverage prices climbing 3.5%
Trump’s 104% tariffs on China fuel retaliation, economic worries
Following a weekend implementation of 10 percent tariffs on imports from various countries, rates on goods from the European Union and Japan increased as of 12:01 a.m. on Wednesday
AfDB launches agro zone project in Nigeria
The African Development Bank is raising $2.2 billion to support Nigeria’s agricultural zones and improve food security across 28 states.
Eni to invest $26B in North Africa by 2029
Eni will commit more than €8 billion each to Algeria and Libya, and a similar amount to Egypt
Kenya’s export hopes face recession and cost hurdles
While Kenya benefits from lower U.S. tariffs compared to rivals, global recession and high costs may impact its trade prospects.
Trump pushes for higher China tariffs while markets sliding
Trump announces plans for 50 percent China tariffs as global markets crash and recession fears rise.
Ramaphosa: VAT increase still likely despite alternatives
South Africa’s treasury is reviewing alternatives to a VAT hike but may still proceed due to limited options, President Ramaphosa said.
Zimbabwe to lift tariffs on US imports to enhance trade
Zimbabwe will lift tariffs on US imports to enhance trade, with a focus on boosting Zimbabwean exports to the US, says President Mnangagwa.
Nigeria supports its currency by selling $197.71 million in dollars
Nigeria’s central bank sold $197.71 million to stabilize the naira after Donald Trump’s tariffs triggered market volatility and a decline in oil prices.
Elon Musk hopes the US and Europe will drop all tariffs
Elon Musk said he hopes for zero tariffs between the US and Europe during a video address to Italy’s League Party after new US tariffs were announced.
Central bank reports second gain in Egypt’s foreign assets in 2025
Egypt’s net foreign assets rose by $1.48 billion in February, supported by treasury bill investments and bond sales.
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.