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.
Toyota suspends production over deceptive testing practices
Toyota acknowledges widespread cheating on certification tests, suspends production of 3 models, and assures no safety risks for vehicles already on the road.
Nigeria’s living wage strike halts schools, airports
Discontent explodes in Nigeria as workers down tools over low wages. Schools, airports, and the power grid grind to a halt.
Egypt’s economy expected to expand by 4.2% next year
Minister of Planning and Economic Development, announced that the (IMF) estimates Egypt’s economic growth rate at approximately 4.4%.
Africa’s largest refinery in Nigeria starts jet fuel exports to Europe
BP shipping 45,000 metric tons of fuel from Lagos’ Dangote refinery to Rotterdam
OECD economies’ share in global GDP stable at 46% in 2021 vs 2017
China, US and India have largest GDPs, representing almost half of world GDP, intergovernmental organization says in report
Ivory Coast ends mid-cocoa discount
Ivory Coast cancels a mid-crop grading discount, leading to potential losses for exporters.
EU-Kenya trade deal: Duty-free access for Kenyan exports
The EU and Kenya have officially adopted a trade deal offering duty-free access for Kenyan exports to the EU market.
African leaders demand reform of ‘unjust’ global financial system
African leaders at a major economic gathering say the current global financial system unfairly penalizes African nations with high borrowing rates, hindering their development.
Guinea-Bissau aims to tackle corruption with blockchain system
The country implements a blockchain platform to manage civil servant salaries, promoting transparency and tackling ghost worker issues.
UN revises global unemployment forecast downward
The International Labour Organization revises its 2024 global unemployment forecast to a slight decline, but warns of persistent gender inequalities in the labor market.
Wealthy nations finally meet $100 billion climate aid target
Wealthy countries finally delivered the promised $100 billion in annual climate aid to developing nations in 2022, but experts and the UN urge more ambitious goals for the future.
Pandemic, oil terminal blast hit Guinea’s economic growth
Guinea’s projected economic growth for 2024 has been lowered to 4.2% due to pandemic aftereffects, global tensions, and a domestic oil terminal explosion.
China electric vehicle exports surge in Brazil amid EU probe
The EU’s anti-subsidy investigation disrupts China’s electric vehicle exports to Europe.
Suez traffic crawls; Cape of Good hope doubles
Total number of vessels passing through Suez Canal falls from 1,094 in November to 85 in March and 159 in April, data shows
US-Kenya forge new trade links, eyes economic boost
US-Kenya trade relations poised for expansion with new dialogue and business ventures.
Morocco’s top miner: Revenue falls with cobalt cut
Morocco’s largest mining company, Managem, reported a revenue drop due to reduced cobalt output, despite higher prices for other metals.
Ghana reviews debt restructuring deal with bilateral creditors
Ghana is reviewing a draft agreement with bilateral creditors to restructure $5.4 billion in debt, paving the way for potential IMF bailout funds and aiming to strengthen its currency.
Ghana petrol price resilience despite currency shifts
Despite the cedi’s depreciation, Ghana maintains its 10th position for the lowest fuel price in Africa, with an average petrol price of $1.070 per litre.
Ivory Coast regulator tackles fraud in Fairtrade cocoa contracts
Ivory Coast’s market regulator, led by Yves Brahima Kone, aims to combat fraud related to fairtrade certified cocoa contracts.
Nigeria’s central bank has raised interest rates again
The Central Bank of Nigeria hiked its key interest rate by 200 basis points, as Africa’s largest economy looks to recover from a historic currency crisis.
Africa’s venture capital scene encounters challenges
Investments in African startups surged from $1.3 billion to $4 billion between 2019 and 2021.
Microsoft unveils AI-powered tablet and laptop
The Surface Pro 11 and Surface Laptop boast advanced AI chips for faster performance and improved creativity with Windows 11 integration.
Moroccan program helps disabilities to find jobs
Facing high unemployment rates, a program in Morocco is helping people with disabilities find jobs and achieve their dreams.
Parliament approves US$150m World Bank IDA loan
Akufo-Addo’s office said it would wait for the outcome of two legal challenges to the bill before it passes to him for assent.