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.
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.