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.

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