South Sudan: Sanctions for least developed countries’ struggles
African LDCs face hurdles reaching UN development goals. Funding, resources key.
UK to pay at least $470m to Rwanda for asylum deal
Rwanda will receive at least $470million from the UK as part of the plan to have asylum seekers in the UK relocate there.
Egypt signs 7 green energy deals with global developers
MoUs expected to lead to total investment worth around $40 billion over 10 years, minister says
Bitcoin surges past $60,000 on ETF optimism
The surge follows the launch of US-approved crypto ETFs and optimism surrounding the upcoming Bitcoin halving event.
Nigeria strike cripples services amidst soaring inflation
New strike disrupts daily life in Nigeria as government struggles to address economic crisis.
Congo ships first LNG cargo, joins exporter list
ENI and Congo celebrate the launch of the Congo LNG project, increasing global gas supply and boosting the African nation’s economy.
Global economy on track for soft landing, but growth remains weak
Rise in commodity prices, tightness in labor market, renewed supply chain tensions could reignite inflation, says report
Google rolls out AI-powered Ad space for Africa
Google announced that the product, which was launched in the US last December, will now be available for African businesses.
Niger stalls border reopening despite lifting of sanctions
Niger delays reopening its border with Benin after ECOWAS lifts coup-related sanctions, raising questions about dialogue and regional stability.
Libya raises oil facility guards’ pay to avert oil shutdown
Negotiations prevent oil shutdown in Libya as PFG salaries increase.
South Africa: Unemployment rises again ahead of election
South Africa’s unemployment rate, already the highest in the world, rose to 32.1% in the fourth quarter of 2023.
UAE pumps $35 billion into Egypt, fueling economic, tourism
A $35 billion investment from the UAE promises to revitalize Egypt’s economy, with a focus on tourism, infrastructure, and debt relief.
Lagos eases soaring costs after protests in Nigeria
Nigeria’s Lagos state governor unveils measures like a 3-day work week and transport discounts to combat soaring inflation after protests erupt due to economic crisis.
S Africa hikes taxes, boosts social grants before May vote
South Africa’s pre-election budget hikes taxes on income, alcohol, and cigarettes, while increasing social grant spending to address poverty and unemployment amid slow growth and high debt.
Djibouti and Turkey sign military, financial deals
A ceremony marks the signing of military cooperation agreements and cash aid protocol between two hypothetical nations.
South Africa braces for impact as Amplats cuts thousands of jobs
Facing low PGM prices and profit plunge, Amplats announces 3,700 job cuts in South Africa, impacting 17% of workforce.
Nigerians protest soaring food prices in south
Nigerians in Ibadan protest economic hardship, demanding action from President Tinubu as soaring food prices cause hunger and hardship.
Kenya redeems $1.4B of $2B international bond
Kenya’s government successfully repurchased over $1.4 billion of its $2 billion international bond, alleviating investor concerns about its strained public finances.
Kenyan company making sustainable textiles out of pineapple waste
As the fashion industry worldwide increasingly embraces more eco-friendly material, an innovative project in Kenya is turning leftover pineapple leaves into footwear.
DRC seeks “mordern investors” for its minerals
The Democratic Republic of Congo is looking for modern investors in its mineral sector.
Israel’s Gaza war spreads in Red Sea harm global trade: IMF, WB
Global leaders at World Governments Summit address risks to the world economy posed by Gaza and Red Sea tensions.
Germany inks first gas deal with Algeria to end Russian reliance
Germany replaces Russian gas with Algerian pipeline, partnering with Sonatrach for long-term supply.
Japan loans $500M to Kenya via Samurai bond
Kenya secures a groundbreaking $500M Samurai bond with Japan, boosting energy efficiency and innovation in its transmission network.
Nigeria, World Bank in talks for economic revamp
World Bank executives confer with Nigerian officials on ambitious economic recovery plans, focusing on critical sectors for sustainable growth.
Egypt’s net foreign assets hit record low: 841B EGP
Central bank data reveals a record deficit of 841 billion pounds in Egypt’s net foreign assets amid commercial bank struggles.
Microsoft’s revenue jumps 18% in final quarter of 2023 with drive in AI
Company sees productivity gains in all sectors by infusing artificial intelligence across every layer, says CEO
Gambia, Morocco sign agreements at joint cooperation commission
Republic of The Gambia and the Kingdom of Morocco signed several cooperation agreements and memoranda of understanding on the sidelines of the 3rd session of the Joint Cooperation Commission between Morocco and The Gambia. The session was held under the co-chairmanship of the Minister of Foreign Affairs, African Cooperation, and Moroccan Expatriates, Nasser Bourita, and his Gambian counterpart, Mamadou Tangara. One of the agreements concerns mutual assistance between the customs administrations of both countries to enforce customs legislation and prevent, investigate, and suppress customs offences. Another agreement was signed in the field of maritime fishing to establish a framework for cooperation between the two parties in various areas of maritime fishing, including fishing, technical and scientific research, aquaculture, fish processing industries, and promoting partnerships in the private sector of maritime fishing.
