The ANC government is seeking to strengthen its Black Economic Empowerment policy amid rising inequality and criticism of the program’s effectiveness.

Italy’s Eni plans to resume exploration activities in Libya’s Ghadames Basin next year, despite ongoing political instability.

The Kansanshi mine, which produced over 134,000 tonnes of copper and nearly 69,000 ounces of gold last year, has experienced previous safety incidents

Dry weather and high moisture content have created favorable conditions for cocoa development in Ivory Coast.

Nigeria’s inflation rate experienced a slight decrease in August, dropping from 33.40% in July to 32.15%. However, the declining value of the naira and rising fuel prices are undermining this progress, potentially reigniting inflation. Michael Anthony, an engineer and father of four, continues to face steep costs despite the small dip in inflation. “In July, I bought a bag of rice for 65,000 naira, but just three days ago, it cost me 95,000 naira,” he said, expressing concern that prices may rise again due to fuel costs. At a market in Abuja, food trader Blessing Ochuba is feeling the pinch. With customers unable to purchase in bulk, she’s reducing her stock and adjusting prices to stay afloat. “Customers who used to buy in bags are now buying half or a quarter because they can’t afford more,” she explained. “I used to buy 10 bags of rice, but now I can barely afford five. Everything is going up.” Despite the reported dip in inflation, Nigeria’s currency has weakened significantly, moving from 1,200 to 1,600 naira to the dollar, and gasoline prices have surged from 620 to nearly 1,000 naira per liter in just three months. Development economist Hauwa Mustapha attributed the slight decline in inflation to a government policy exempting food imports from excise duty for 90 days. “That helped boost food supply, but it doesn’t indicate a long-term recovery,” she noted, emphasizing the need for effective government measures. To manage inflation in both the short and long term, Mustapha suggests focusing on food supply policies. “As we approach harvest season, it’s crucial to minimize post-harvest losses to maintain a steady food supply.” Experts believe the government’s upcoming actions will determine if this inflation decrease marks a genuine recovery or merely a temporary reprieve.

Sierra Leone has requested a 38-month Extended Credit Facility (ECF) from the International Monetary Fund, valued at approximately $253 million

Prime Minister Mostafa Madbouly announced plans to settle arrears with production companies and restore normal output by summer 2025.

The project, estimated to cost 8.5 billion euros, will significantly boost the country’s electricity supply and reduce reliance on fossil fuels.

Nigeria’s Dangote refinery, with a capacity of 650,000 b/d, has started selling gasoline domestically, exclusively to the state-owned NNPC. For September deliveries, NNPC is paying Dangote in US dollars, but a crude-for-gasoline swap will begin in October, settled in naira. The refinery’s ex-refinery price for gasoline is set at $736 per tonne, equivalent to 898.78 naira per litre ($0.55/l), while the retail price in Lagos is N950.22/l, reflecting recent increases due to reduced government subsidies. Gasoline pricing is negotiated directly between parties under Nigeria’s Petroleum Industry Act. NNPC has traditionally relied on imports to meet domestic gasoline needs but anticipates that Dangote’s operations will help reduce this dependency. Currently, the refinery is ramping up production, supplying 16 million litres over the weekend, which is still below its full capacity of 57 million litres per day. Full operations are expected to commence by October or November once the residual fluid catalytic cracker (RFCC) is fully operational. Starting in October, NNPC will supply Dangote with 385,000 b/d of crude, with gasoline sold exclusively to NNPC for domestic distribution, while diesel will be available to other buyers.

With $44.4M in funding, the EU is backing Rwanda’s bid to become a pharmaceutical hub, with plans to improve access to health products, skills development, and regulatory support.

Senegal’s growth forecast has been revised down to 6.0% from an earlier projection of 7.1%, due to weaker performance in mining, construction, and agro-industry sectors

Fitch Ratings said Monday that it upgraded Tunisia’s long-term foreign currency issuer default rating to “CCC+” from “CCC-.” The rating agency said the upgrade reflects the country’s stronger external position and the government’s ability to meet its large fiscal financing needs. Those factors, however, are balanced against limited access to external financing, uncertainty over the ability and willingness of the banking sector to take on large volumes of domestic debt, and a budget that remains vulnerable to external shocks. Fitch said the Tunisian government requires 10% of GDP in long-term domestic financing this year and 10%-12% in 2025 and 2026. “We believe the domestic banking sector could help meet the sovereign’s financing needs, as deposit growth and weak credit demand support sector liquidity,” the rating agency said in a statement. “Nevertheless, this will increase banks’ exposure to the public sector, which already represents about 20% of the banking sector’s total assets, necessitating refinancing to local banks by the central bank,” it added.

China is expanding ev production in Africa to secure dominance in the global auto industry by leveraging local resources and labor.

The 2023/24 season has seen Ghana lose 160,000 tons of cocoa to smuggling, causing the lowest output in 20 years.

The Dangote refinery, with a capacity of 650,000 barrels per day, is expected to put an end to Nigeria’s long-standing reliance on gasoline imports

On October 15, 2024, Ethiopian Airlines will start daily flights to Port Sudan, enhancing connectivity and supporting growth in the region.

Malawi’s tobacco sales increased by 40% in the 2024 selling season, defying the impact of an El Niño-induced drought.

Fitch Ratings said Friday it affirmed South Africa’s long-term foreign currency issuer default rating at BB- with a stable outlook. The rating agency said South Africa’s rating is supported by the country’s favorable debt structure, strong institutions and a credible monetary policy framework. Those factors, however, are balanced against low real GDP growth, a high level of poverty and inequality, and a high government debt/GDP ratio. Fitch said it expects real GDP growth of 0.9% this year, after 0.7% last year. Real GDP is forecast to show growth of 1.5% in 2025 and 1.3% in 2026. “Growth is hampered by a struggling logistics sector, deeply entrenched structural factors, particularly high levels of inequality, poverty and unemployment, and weak investment,” it said in a statement. “We expect the weakness to persist, despite robust demographics,” it added. “Electricity shortages, which dragged on growth in 2022 and 2023, are expected to ease, but sporadic incidents of load-shedding could still occur.” While headline inflation eased to 4.6% in July, Fitch expects it to fall to 4.5% by the end of the year, 4% in 2025 and 2026, as food and oil prices continue their slowdown.

Ethiopian Airlines will soon offer direct flights between Addis Ababa and Conakry, Guinea’s capital, marking its first nonstop service to this West African city. Starting November 30, the airline plans to operate at least three weekly flights using the 787-8 Dreamliner. The journey will take approximately 9 hours and 5 minutes, with flights arriving in Guinea in the afternoon and departing the next morning. This move coincides with ongoing upgrades to regional airports in Guinea, signaling a potential boost in air traffic. Additionally, Ethiopian Airlines will resume flights to Monrovia, Liberia, ending its previous service to Ouagadougou. This marks the return of Ethiopian Airlines to Liberia since 2010. The Star Alliance member now serves over 50 cities across Africa.

The Central Bank of West African States (BCEAO) held its main lending rate unchanged at 3.5% in its latest monetary policy decision.

The Kenyan public has celebrated a court decision to halt a controversial deal for Indian firm Adani to take over Jomo Kenyatta International Airport.

Libya’s future hangs in the balance as the UN mediates a central bank dispute that has halted oil production.

Ethereum, world’s largest altcoin, falls 8.2%

The new traceability system is a key component of the country’s efforts to comply with the EU’s deforestation law.