IMF approves $71 million for coup-stricken Niger
The country’s economy is expected to rebound due to oil exports and lifted sanctions, but the IMF urges reforms.
Africa’s top diplomats meet in Accra to discuss budget, G20 role
From budget talks to the G20, African leaders have a full agenda at the AU Executive Council meeting in Ghana.
TotalEnergies exits Nigerian oil venture for $860 million
The move follows Shell’s recent divestment, highlighting a shift for oil majors towards cleaner energy and away from troubled assets.
Eurozone inflation holds steady at 2.5% in June
Consumer prices hike 0.2% on a monthly basis matching initial estimate, 2nd reading shows
Ethiopia swaps currency with UAE to ease forex shortage
The agreement boosts trade, investment, and financial integration between the nations.
Nigeria Binance money laundering trial delayed until October
A sick executive and missing medical documents lead to delays in the money laundering case.
Uganda’s coffee exports jump 18.2% on bumper crop
This boost comes as the key harvest season is underway for the country’s biggest export.
Kenya plans a 2% spending cut in its revised budget
Kenya plans a 1.9% spending reduction for the 2024-25 fiscal year and will widen the fiscal deficit to 3.6% of GDP after tax increases were rolled back amid protests.
Visa issues resolved, travel between Nigeria, UAE restarts
Nigeria and the United Arab Emirates have resolved a visa and currency dispute, allowing Nigerians to travel to the UAE again with flights resuming in October.
African banks at risk as nature loss hits borrowers
A new study shows how nature loss could devastate African economies by crippling banks.
NNPC’s stake in Dangote refinery cut due to non-payment: CEO
NNPC had agreed three years ago to buy shares worth $2.7 billion in the 650,000 barrels-per-day refinery
Oil prices ease on strong dollar
Efforts to implement cease-fire in the Middle East, home to vast majority of global oil reserves, continue to impact prices
IMF urges Botswana to slow infrastructure spending
This has widened the budget deficit and led the IMF to urge Botswana to slow down infrastructure projects.
African Group urges WTO’s Okonjo-Iweala to seek a second term
WTO chief Ngozi Okonjo-Iweala, the first female and African leader of the organization, is being urged by the African Group to seek a second term for ongoing stability.
Brazil’s JSL eyes growth in Africa’s expanding markets
Brazil’s leading logistics company JSL is setting its sights on Africa after conquering Latin America.
Nigerian judge schedules Binance tax evasion trial for October
While Binance has yet to comment on the latest development, it has previously called for the charges to be dismissed
Oil prices rise amid strong demand and supply concerns
Ongoing conflicts in Middle East despite Gaza cease-fire talks, support further price rises by spreading supply fears among market players
Libya’s Tripoli rejects Benghazi’s budget
The HSC fears the budget will deepen the country’s division and waste public funds.
Libya’s eastern parliament approves extra 88 billion dinar budget
Benghazi government in Libya receives a boost with an additional 88 billion dinar budget approved by the eastern parliament
Russia’s Rosatom inks deals with Mali’s military leaders
Mali’s military junta signed cooperation agreements with Russia’s Rosatom, including discussions about a potential low-power nuclear power plant in Mali.
Xi Jinping, Embalo elevate China-Bissau ties to strategic level
Xi Jinping and Umaro Sissoco Embalo elevate China-Guinea-Bissau ties to a strategic level.
Fuel crisis in Mali: Domestic airlines cancel flights
A fuel shortage at Bamako Airport in Mali has caused domestic and international flight cancellations.
South Africa ends J&J probe as it cuts TB drug price
Medical advocacy groups praised Johnson & Johnson for not enforcing its patent on a crucial tuberculosis medication, allowing its production at lower prices following scrutiny by South African authorities.
Joseph Boakai sets example with 40% salary reduction in Liberia
President Boakai’s voluntary pay cut reflects his commitment to combating corruption and improving governance in Liberia.
Egypt, Emirati investment partners on $500m Cairo development
Egypt’s SKG and Emirati KSH Investment to build residential, commercial towers, and hotel on Cairo’s Nile.
Nigeria suspends food import taxes to fight inflation
Nigeria plans to suspend import taxes on wheat, maize, and other foods for 150 days to combat high food inflation and rising living costs.
South Africa eyes renewable energy leadership under new minister
South Africa’s new energy minister pledges to aggressively pursue renewable energy sources, marking a shift from the previous coal-focused approach.