Nigeria borrows $2.25B to ease cost-of-living crisis, support reforms
The World Bank approved a $2.25 billion loan to help Nigeria address its cost-of-living crisis and support economic reforms implemented by President Tinubu.
NNPC Drops Challenge to $1.3B Exxon Deal, Seplat says
An NNPC spokesperson did not immediately comment on the development
Ghana aims for IMF-approved deal with bondholders on $13B
After securing a deal with official creditors, Ghana reopens talks with bondholders on a sustainable debt solution.
New budget and tax hikes spark criticism in Kenya
Kenya’s finance minister presented the largest budget in the country’s history, including contentious tax proposals that critics say will burden an already struggling population.
Ugandan economy rebounds, budget plans infrastructure projects
The government prioritizes concessional loans for infrastructure projects, aiming to control debt and maintain economic growth.
Zambia eyes bigger share of mining pie with new business model
Zambia establishes a new entity for mineral investment and trading to increase national benefits from its resources, moving from a dividend model to production sharing.
Apple briefly reclaims top spot from Microsoft on AI platform launch
Apple’s new AI platform, Apple Intelligence, sparked a stock surge, briefly surpassing Microsoft.
Bitcoin back above $70,000 as us inflation cools
Bitcoin’s price surges after lower-than-expected inflation data in the US rekindles hopes of a Federal Reserve rate cut.
Nigerian president stays committed to reforms amid hardships
Tinubu, in office for a year, tackled long-standing issues such as the petrol subsidy and currency devaluation, resulting in high inflation
Loan lifeline for Tunisia: EIB invests €450 million
The European Investment Bank announces a €450 million aid package for crisis-hit Tunisia.
Report: Big profits for companies, low wages for miners in DRC
NGOs condemn the exploitative working conditions for cobalt and copper miners in DR Congo, vital for green energy, urging better wages and safer environments.
Mali financial union extends strike
Bah was arrested on Wednesday following a complaint accusing him of document forgery related to an internal union matter
Power outages lead to massive protests in Ghana’s capital
In a significant protest, Accra residents marched against power outages, carrying signs and calling on the government to provide a reliable electricity supply for all.
Nigerian pay-tv giant fined for ignoring price hike order
MultiChoice, Africa’s biggest pay-TV company, faces a fine and has to offer free service to Nigerian subscribers after defying a court order on price hikes.
Unemployment in Gaza surges to 80 percent due to Israel’s war
UN findings reveal that Gaza’s unemployment rate has reached nearly 80 percent amid the conflict, highlighting the devastating impact on the region’s economy.
Ivory Coast turns to solar power to energize clean energy agenda
Opened in June 2023, the Boundiali plant endeavors to bolster electricity provisions for over 430,000 households
BRICS: Multipolar economy to curb global economic instability
Developed countries not capable of providing solutions to persistent problems that the world is facing, says Dilma Rousseff.
Benin detains Niger nationals in pipeline dispute escalation
Benin accuses Niger of false pretenses after detaining Niger nationals at an oil pipeline terminal. Niger claims they were inspectors.
IMF loan unlocks $820 million for Egypt’s reforming economy
The IMF greenlights a loan of $820 million for Egypt, conditional on accelerating economic reforms.
Nvdia nears $3T valuation, threatens Apple’s second place
The chipmaker nears a staggering $3 trillion valuation and threatens to dethrone Apple for the second-place spot among the most valuable companies globally.
Union calls strike in Mali over bank leader’s detention
Mali faces a financial sector shutdown as bank workers strike following the arrest of their union leader.
Russia’s Lavrov concludes African tour with Chad visit
Lavrov’s visit to Chad marks the culmination of his African diplomatic mission, highlighting a push for greater military cooperation.
Kenya’s Ruto: Africa can help decarbonize, calls for rich aid
President Ruto urges developed countries to invest more in clean energy, technology transfer, and financial support for Africa’s climate action.
Zambia gets IMF lifeline as drought threatens millions
The IMF approved $574 million in emergency aid to support Zambia, facing severe drought and potential food shortages.
Nigerian unions suspend strike for wage negotiations
After disrupting flights and shutting down power grids, Nigerian unions suspend strike for a week to continue discussions on wage demands.
Moroccan activists demand gov’t action on Israel arms shipment
Moroccan activists urged their government to prevent a cargo ship suspected of carrying weapons to Israel from passing through their waters.
Scorching temps force hour-long power cut extension in Egypt
Egypt extends rolling blackouts by an hour due to a heatwave, network maintenance, and rising electricity demand.