Angola seeks more Chinese funds for diversification
China’s economic influence in Angola is growing as the nation seeks more financing to support its economic development and import of Chinese goods.
Nigeria’s Dangote Refinery begins supplying gasoline to local market
The refinery, located on the outskirts of Lagos, has a capacity of 650,000 barrels per day
Fuel scarcity crisis deepens in Nigeria amid rising costs
Nigeria grapples with a worsening fuel crisis, causing long queues, rising prices, and economic hardship for its citizens.
OPEC output hits lowest in months amid Libyan disruption
An examination of the potential impact of the decline in OPEC oil output on global energy prices and economic growth.
Saudi Arabia, Libya bail out Egypt with $200 million gas imports
Saudi Arabia and Libya have stepped in to support Egypt’s energy crisis by financing the purchase of gas cargoes worth over $200 million.
Indonesia aims for $3.5 billion in deals at Africa forum
Several memorandums of understanding are expected to be signed, including projects in geothermal energy and pharmaceuticals.
China aims increased Africa trade before Western sanctions hit
African leaders meet in Beijing as China seeks to boost exports of electric vehicles and solar panels.
China promises new Belt and Road projects at African summit
At a Beijing summit with African leaders china has committed to strengthening its Belt and Road initiative by ensuring high-quality infrastructure cooperation.
Oil crisis deepens in Libya as factions clash over central bank
The blockade has caused severe economic hardship and threatens to destabilize the entire country.
South Africa’s platinum industry faces irreversible decline
South Africa’s platinum mining industry is facing an irreversible decline due to low prices and decreasing demand caused by the rise of battery electric vehicles.
Nigeria seeks operators for state-owned refineries
Nigeria aims to engage operators who can ensure the reliability and sustainability of these refineries to support the nation’s fuel supply and energy security
Ghana’s gold industry gets a boost with new mines
The Cardinal Namdini mine is expected to produce over 350,000 ounces of gold annually.
South Africa’s economic outlook improves as reforms take hold
South African Reserve Bank governor believes that successful reforms could lift the country’s economic potential beyond its current growth rate.
Egypt’s money supply grows rapidly despite IMF pressure
Despite IMF pressure, the central bank continues to support the government’s spending.
China’s lending to Africa increases for the first time in 7 years
From 2012 to 2018, Africa received over $10 billion annually in loans from China, driven largely by President Xi Jinping’s Belt and Road Initiative (BRI)
South African potato prices soar due to frost damage
A frost in Limpopo, South Africa, has damaged potato crops, leading to a 15% increase in potato prices nationwide.
Grand Ethiopian renaissance dam expands power generation
Ethiopia’s Grand Ethiopian Renaissance Dam (GERD) has doubled its electricity production after two more turbines started operating.
South Africa’s graft probe reveals $7 billion in losses
The losses amount to billions of dollars and have had devastating consequences for the country’s economy.
Senegal halts mining near Mali border to protect river
The Faleme River, a vital source of water for thousands in Senegal, is facing significant pollution from gold mining.
Rising food prices push millions into hunger in Nigeria
Over 31.8 million Nigerians are facing acute food insecurity due to security challenges and the removal of fuel subsidies, according to a recent study.
Binance money laundering case fast-tracked in Nigeria
Binance, the world’s largest cryptocurrency exchange, is facing a money laundering trial in Nigeria.
Below-average rains hinder Ivory Coast’s cocoa harvest
Despite abundant pods on trees, Ivory Coast’s cocoa harvest is starting slowly due to below-average rainfall.
Ivory Coast to boost support for small cocoa exporters
The aim is to increase their purchasing volumes and make them more competitive in the global market.
Ghana offers bondholders choice in debt restructuring
The government is offering bondholders the opportunity to exchange their existing bonds for new instruments with different terms.
Mali’s gold reserves plummet 17% in two years
Syama mine remains the largest gold reserve in Mali despite a significant decrease in the country’s overall reserves.
Yaga expands into Kenya and Nigeria for second-hand fashion
Since its launch in 2020, Yaga has become a significant player in the South African second-hand fashion market
Kenya’s first nuclear power plant is set for 2034 despite objections
Kenya plans to construct a nuclear power plant by 2034 with a focus on clean energy and increased capacity.