AfDB taps Mauritania’s super banker Sidi Ould Tah as next chief
The African Development Bank group appointed Mauritania’s Sidi Ould Tah as its new president starting September.
SA central bank cuts rate as inflation stays low
South Africa’s central bank made a modest rate cut after April inflation undershot the target range again.
East Libya may stop oil over NOC pressure
Libya’s eastern government may declare force majeure on oil fields and ports citing assaults on the National Oil Corporation
Tunisia expects grain harvest to jump 64 percent this season
Tunisian officials anticipate a strong grain harvest of 1.8 million tons this year thanks to improved weather conditions.
US backs Kurdish gas deals despite Baghdad’s legal challenge
Washington says Kurdish contracts serve shared interests and encourages Baghdad and Arbil to expand domestic gas production.
Syrian leader says reconstruction work is only just beginning
At a major Aleppo event, Syria’s president Sharaa said rebuilding the nation has begun and called on Syrians to work together for recovery.
AfDB cuts Africa’s 2025 growth forecast over tariffs
Africa’s economic growth slows as AfDB revises forecasts down because of US tariffs and market shocks.
Guinea cancels 129 mining permits to control resources
Guinea joins regional military regimes by cracking down on foreign mining to boost revenues and control resources.
Guinea cancels 129 exploration permits to tighten asset control
A senior ministry official said the permits, mainly for gold, were revoked to free up unused resources for new investors
South Africa offers to buy US LNG to strengthen trade ties
South Africa has proposed importing US LNG over ten years as part of a broader trade deal to strengthen economic ties and cooperation.
Nigeria to launch two lithium plants funded by China in 2025
The $600 million plant near the Kaduna-Niger border is due to be commissioned this quarter, while a $200 million refinery near Abuja is nearly complete
China and Indonesia boost trade with local currency settlement
China and Indonesia signed an updated MoU to expand the use of local currencies in trade and financial transactions, aiming to strengthen bilateral economic ties.
Uganda signs $800M deal with Islamic Development Bank
The three-year deal will also support infrastructure projects in health, transport, and energy
Cameroon approves foreign loan to ease cash shortfall
Cameroon will borrow $348 million internationally to support government cash flow and cover budget gaps in 2025.
South Africa to sell crude reserves only at $100 per barrel
The country has been considering selling crude since 2022 to recoup revenue lost from a temporary fuel levy cut designed to ease consumer costs
Canal+ nears conditional approval for MultiChoice acquisition
Should the transaction receive final approval, it would significantly enhance Canal+’s expansion into Africa, particularly within English-speaking regions
South Africa to offer Starlink deal to Musk before Trump meeting
The offer will be discussed in a meeting scheduled for Tuesday evening between South African officials and Musk or his representatives
Kodal seeks Mali permit to export 27,000 tons lithium
Kodal Minerals expects a Mali permit soon to export 27,000 tons of lithium concentrate from its Bougouni project despite earlier delays.
Algeria hosts Islamic Development Bank summit
Islamic Development Bank’s four-day event in Algeria drives knowledge exchange and cooperation for socioeconomic progress
Renaissance Energy halts oil flow on one Trans Niger line
Following an oil leak in Ogoniland, Renaissance Energy stopped one pipeline line and began recovery and clean-up work with the local community.
Ghana’s government moves to secure land for cocoa revival
Ghana is taking urgent action to acquire farmland for cocoa as output hits a 20-year low due to multiple environmental threats.
World Bank approves $350M grant for Malawi hydropower project
The project is set to provide electricity to over 1 million new households and create thousands of jobs, significantly contributing to the country’s development
US lifts sanctions as Syria and UAE firm sign port contract
Syria and DP World signed an $800 million deal to develop the Tartous port following the U.S. decision to lift sanctions on Syria.
Nigeria, Ivory Coast and Benin secure EBRD investment access
EBRD is preparing investments in West Africa following new approvals and plans to begin projects after treaty amendments in July.
IMF halts Malawi loan after $35M disbursed
The four-year Extended Credit Facility (ECF), approved in November 2023, had disbursed just $35 million before being halted
Petrobras eyes comeback as Nigeria offers deep sea oil blocks
Nigeria is holding talks with Petrobras on deep water oil exploration as it aims to attract foreign investment in energy, culture, and agriculture sectors.
Nigeria’s Dangote refinery skips June work after early repairs
Nigeria’s Dangote oil refinery avoids planned June service after finishing repairs during an unplanned April to May shutdown.