Senegal government freezes Dakar beach construction projects
Senegal’s new government halts construction along Dakar’s coastline for two months to investigate the legality of permits and ensure public access to the beaches.
Nigerian labor unions protest soaring electricity prices
Labor unions in Nigeria staged nationwide protests against the government’s recent electricity price increase, arguing it worsens the cost of living crisis despite unreliable power supply.
DR Congo, EU aim to improve mineral tracking
Despite accusations of Rwandan mineral theft, the EU and DR Congo forge a partnership to track minerals more effectively.
Netflix invests in African talent to tell local stories with global impact
Netflix is investing in African talent and stories to create impactful content that resonates globally.
AstraZeneca withdraws its Covid-19 vaccine from sale
AstraZeneca has formally asked the European Medicines Agency to withdraw its COVID-19 vaccine authorization.
Microsoft shuts down Africa development centre in Nigeria
Microsoft is closing its Africa Development Centre in Lagos, Nigeria, leading to job losses but assuring continued operations in the country.
Amazon launches online shopping service in South Africa
Amazon launched its online shopping service in South Africa on Tuesday, challenging a number of online retailers dominated by Naspers’ Takealot.com.
Italy’s Meloni visits Libya, seals cooperation agreements in Libya
Italian Prime Minister Giorgia Meloni signs cooperation agreements with leaders from both Libyan administrations during her visit to the conflict-torn country.
Turkey and Algeria double weekly flights
Turkish and Algerian aviation authorities agreed to double the number of weekly flights between the two countries, removing restrictions on destinations.
Weaker demand, stronger dollar push gold prices down
Cautious investors eyeing potential Fed rate cuts and a stronger dollar led to a slight decline in gold prices during early Asian trading on May 6th.
Senegal’s growth forecast revised down to 7.1 pct — IMF
The IMF urges Senegal to control spending to meet its budget deficit target. The country’s new government remains committed to the IMF program.
DRC-China minerals deal: $7B investment linked to copper prices
A revised minerals deal between DRC and Chinese companies involves around $7 billion of infrastructure investments, dependent on copper prices remaining high.
ExxonMobil pushes forward with new Mozambique LNG project
ExxonMobil is optimistic about its revamped Rovuma LNG project in Mozambique, targeting a final investment decision by the end of 2025, with a new design focusing on lower emissions.
Withdrawal limits as Zimbabwe releases new currency
The highest denomination of the new currency, known as Zimbabwe Gold or ZiG, will be the 200 ZiG note, valued at approximately $15.
Egypt’s foreign reserves see boost after devaluation, IMF deal
Weakening its currency and partnering with the IMF, Egypt reversed course on its foreign reserves.
Marrakech airport to double capacity: $176M expansion
Morocco is investing $176 million to expand Marrakech Menara Airport’s capacity to handle over double the passengers, reaching 11.5 million annually.
Saudi Arabia: Houthi attacks won’t hinder tourist destination plans
Saudi Arabia’s tourism minister downplays the threat posed by Houthi attacks in Yemen to the kingdom’s Red Sea resorts, highlighting their location far from the conflict zone.
Dubai to build new $35B mega-airport
The $35 billion Al Maktoum expansion promises to be the world’s largest, handling a staggering 260 million passengers a year.
UAE plans new nuclear plant, doubling reactor count
The UAE is seeking bids to construct a second nuclear power plant, potentially doubling its reactor capacity.
DRC demands Apple answer for allegedly using tainted minerals
The Democratic Republic of Congo suspects Apple’s supply chain may contain conflict minerals sourced from their war-torn eastern region and is demanding more information.
Egypt OKs free zone, tourist port for Ras al-Hikma
Egypt greenlights a special free zone and international tourist port in the Ras al-Hikma peninsula, following a $35 billion investment deal with the United Arab Emirates.
Oil jumps as US demand heats up for summer
Oil prices are on the rise! Strong US demand signals point to a potential summer supply squeeze, pushing both Brent and WTI crude prices higher.
Nigeria seeking $2.25 billion in World Bank loans
Nigeria has said it is seeking up to 2.25 billion dollars in World Bank loans, in a statement by Finance Minister Wale Edun.
World Bank halts Tanzanian tourism funding due to rights abuses
Controversy surrounds a conservation project in Tanzania as the World Bank freezes funding due to concerns about human rights violations.
Egypt vows to end bypassing Finance Ministry for loans — IMF
The IMF sounds the alarm on Egypt’s central bank lending to state agencies, citing inflation and currency risks.
Nigeria Central Bank targets retail dollar demand in strategy
Nigeria’s central bank sold dollars to exchange bureaus at a discounted rate to increase foreign currency supply and curb black market activity.
Boeing, Airbus eye Morocco’s skies
By offering a skilled and affordable workforce, the country is enticing industry giants like Boeing and Airbus to invest in manufacturing facilities.
