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.

NNPC: Fuel transfers, floods disrupt Abuja supplies

NNPC spokesperson Femi Soneye explained that thunderstorms had hindered ship-to-ship transfers of gasoline from large vessels to smaller distribution ships

Gabon says payment dispute with World Bank resolved

Authorities in the central African nation say technical issues made it impossible for the country to keep its commitments.

South Africa’s power utility eyes profit after diesel costs fuel loss

Eskom, South Africa’s power utility, aims for a financial turnaround after ending blackouts.

Rwanda gets $1B loan from South Korea for infrastructure projects

South Korea has pledged $1 billion in concessionary loans to Rwanda for infrastructure development projects in various sectors.

Ruto unveils budget cuts and borrowing plans after Kenya tax protests

In the wake of violent protests over tax hikes, which left 39 dead, Kenyan president William Ruto has unveiled plans for borrowing and spending cuts to manage the budget deficit and support critical services.

Rwanda secures $1B funding deal with South Korea

In May, Rwanda’s government indicated that 1.32 trillion Rwandan francs ($1.02 billion) in the 2024/25 budget would come from external loans

Uganda has started exporting oil to Kenya after Tanzania

Uganda aims to produce 200,000 barrels of oil per day by 2025 upon completion of the project.

Moroccan court uphold $630 million fine for Maroc Telecom

Moroccan appeals court upheld a record fine against Maroc Telecom for hindering competition.

Nigerian oil regulator approves significant asset sales to local firms

Nigeria’s upstream oil regulator has approved key onshore asset sales to Oando and Project Odinmim, with Exxon Mobil and Shell’s sales still awaiting approval.

IMF approves final disbursement for Congo’s loan program

Further collaboration hinges on transparency in military expenditures and public recording of Sicomines mining project finances.

Top global firms thrill investors in early 2024

While Microsoft dominates as most valuable firm worldwide, AI chipmaker Nvidia becomes best-performing company in equity markets

Zambia receives $208 million boost to combat its worst drought

As Zambia faces its worst drought in years, the World Bank steps in with a $208 million grant to support affected households and strengthen social protection programs.

Egypt’s TMG to invest $21 billion in luxury Mediterranean resort

TMG’s SouthMED resort offers luxury living at Egypt’s stunning north coast. With $21 billion invested, expect world-class facilities and amenities.

OPEC pumps more than planned in June, Iran oil sales continue

OPEC oil output increased in June despite production cuts by some members, with rising supply from Nigeria and Iran offsetting the planned reductions.

Egypt ups gas production to meet summer electricity needs

To combat rising summer electricity demand, Egypt boosts gas production and secures 21 LNG cargoes.

Ivory Coast to revamp mining code for higher state profits

Ivory Coast revamps its mining code to increase state profits from the flourishing gold sector.

Saudi Aramco uncovers new oil, gas reserves

Saudi Arabia’s state oil company, Saudi Aramco, discovered seven new oil and gas deposits in the Eastern Province and the Empty Quarter.

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