World Bank and IMF focus on African prosperity
“A prosperous 21st century is only possible with a prosperous Africa,” said Kristalina Georgieva, Managing Director of the IMF.
Egypt’s annual inflation eases to 38% in September
Growth of consumer price inflation in Egypt slowed to 38% in September, with continued high prices in food, transportation, energy, and health
World Bank sees economic growth in North Africa slowing to 1.9%
Economic growth in region forecast to accelerate to 3.5% next year
Sub-Saharan Africa to see 2.5% growth in 2023: World Bank
Region’s economic growth projected to increase to 3.7% in 2024, 4.1% in 2025
Sudanese economy faces challenging repercussions as war rages
Estimates indicate that the economic cost of the war in Sudan since its outbreak until now has reached $10 billion
Ethiopia, EU sign €650M financial support agreement
Multi-annual program aims to support green growth, inclusive human development
World steel output ticks up 2.2% in August
Top steel producer China sees 3.2% hike in August’s reading of 86.4M tons
Turkey’s trade with Africa surpasses $40 billion
The trade volume between Turkey and the African continent exceeded 40 billion dollars in 2022
Oil prices drop $1 ahead of Fed interest rate decision
The Federal Reserve’s interest rate decision is scheduled to be announced at 1800 GMT
Egypt aims for 300% increase in pharmaceutical exports to Sudan
Egypt’s pharmaceutical exports to Sudan reached 37 million dollars in 2022, according to Maged George, the President of the Export Council for Pharmaceuticals and Medical Supplies
Musk says X platform will start charging users monthly
Move aims to get rid of ‘vast armies of bots,’ says X/Twitter owner Elon Musk.
Sudan’s gold production reaches 2 tons with $124M in value
The financial value of this production reached $124 million, with the government’s share being $25.5 million
EU lowers Eurozone economic forecast
EU economy to grow with ‘reduced momentum,’ says European Commission
Turkey, Mozambique sign defense cooperation deal
‘We are determined to fly the flag of our defense industry in Africa,’ says head of Turkish Defense Industry Agency.
Export of Egyptian electricity to Sudan and Jordan reach 180 megawatts
Egypt has not stopped exporting electricity to Jordan or Sudan despite the recent power load-shedding crisis in the country over the past two months
G20 to confer African Union membership status equal to EU
G20 grouping of nations has agreed to grant permanent membership to the African Union
Zambia’s biggest copper mine averts liquidation with crucial cash inject...
The state-owned ZCCM-IH is a minority shareholder in KCM
Morocco becomes ‘Sectoral Dialogue Partner’ of ASEAN
Morocco was granted the status of “Sectoral Dialogue Partner” within the ASEAN on Monday.
Oil prices slide as traders capitalize on recent gains
International benchmark Brent crude traded at $88.48 per barrel at 10.21 a.m. local time (0721 GMT)
Small uptick in oil prices driven by positive outlook on US demand
Slight increase in oil prices amid optimism for US demand
Gabon coup pushes oil prices slightly upwards
The military coup in Gabon, a member of the Organization of the Petroleum Exporting Countries (OPEC), on Wednesday pushed oil prices slightly upwards while creating supply risks
Shares of European companies in Gabon dropped after coup
Gabon’s international bonds experienced their most significant decline on record, and shares of European companies that operate in Gabon faced a sharp tumble, reflecting the investors’ concerns
Mali president signs new mining code in bid to raise govt stake
Mali’s new mining law prioritizing state interests has been signed into law by President Assimi Goita.
3M agrees to pay $6 billion in earplug settlement
Company argues products safe, effective when used properly
Algerian energy company discovers 10 oil and gas reserves in H1
An official from Algeria’s state-run oil company, Sonatrach, announced that the company discovered 10 new oil and gas in the first half of this year
Oil down as investors wait on Chinese economy data to gauge demand
Oil prices down as investors wait on Chinese economy data to be released
Suez Canal makes $1 mln in revenues per hour first time in its history
For the first time in its history, the Suez Canal achieved revenues of one million dollars per hour