South Africa seeks delay on Trump tariffs to finalize trade deal
Pretoria is seeking exemptions for key exports such as cars, auto parts, steel, and aluminium, and has offered to import U.S. liquefied natural gas in return
Turkish forum signs deals to link Africa with Middle Corridor
Turkey signed memoranda with seven African countries to link them to the Development Corridor Project and the Middle Corridor trade route, boosting Africa’s global trade access.
Senegal raises 2025 budget deficit forecast amid fiscal strain
Senegal has raised its 2025 budget deficit forecast to 7.82% of GDP due to lower revenue expectations and revised GDP figures, amid ongoing fiscal pressure.
EV battery factory opens in Morocco with China
A Chinese-Moroccan partnership launched Morocco’s first EV battery factory with plans to produce enough components for one million electric vehicles yearly
Fitch downgrade shifts Afreximbank to new funding
Afreximbank could turn to China and friendly countries for funding following a Fitch credit downgrade and loan restructuring challenges.
Turkish–African ties grow with rising exports, sector expansion
Turkey’s trade with Africa is growing through mutual investments in sectors like energy, defense, and construction as part of a strategic “win-win” approach
US diplomat denies unfair trade claims amid African concerns
U.S. diplomat says there is no visa ban and denies unfair trade practices amid African concerns at Luanda summit.
Egypt buys more wheat ahead of summer
Egypt’s state grain buyer purchased hundreds of thousands of tons of wheat for July and August delivery from Black Sea and EU suppliers.
South Africa gets $1.5B loan to boost infrastructure, economy
The World Bank loan aims to ease South Africa’s infrastructure bottlenecks and help create jobs while tackling economic challenges.
Mali reopens Barrick Gold office under court-appointed administrator
Barrick, which says it will appeal the ruling, has been at odds with Mali’s military-led government since 2023 over a new mining code that raises taxes and increases the state’s equity share
Niger union backs takeover of uranium mine
Union backs military government’s nationalisation of key uranium mine amid accusations of exploitation by French-owned Orano.
Uganda’s coffee earnings soar on strong harvest, shipments
Uganda posted a 92 percent increase in coffee earnings in May as export volumes surged on strong crop yields
US-Africa Summit opens in Luanda with key leaders
African leaders meet in Luanda for the US-Africa Business Summit to boost trade and investment opportunities
DR Congo extends cobalt export ban by 3 months
Congo’s agency ARECOMS said cobalt export suspension continues as market stocks remain high and will be reviewed before suspension ends
Italian, EU chiefs meet to boost Africa’s economy
Italy and the EU launch a multibillion euro plan to strengthen African economies and reduce illegal migration through trade and development.
Niger moves to nationalize uranium mine in escalating dispute
The Niger government moves to take full control of the French-run uranium joint venture Somair after relations with France deteriorate.
African diamond leaders pledge 1% for marketing
Botswana Namibia South Africa and Angola commit funds to global marketing to support the natural diamond industry and its communities.
Egypt Kuwait sells Delta stake to Wafa
Wafa Assurance will acquire a majority stake in Egypt’s Delta Insurance as it expands in the Egyptian market.
US, UK, and Congo launch new economic zone
Kiswishi City SEZ in Congo opens with $50 million investment from Pepsi and Congo Petrol boosting local economy and infrastructure.
Burkina Faso finalizes gold mine nationalization
Burkina Faso completes transfer of five gold mining assets to state ownership to boost control.
China to scrap tariffs on African exports in push to boost trade
The plan is expected to benefit more industrialized African nations with growing manufacturing capacity, such as Kenya, South Africa, Nigeria, Egypt, and Morocco
China increases lending to Africa under Belt and Road projects
As China funds infrastructure in Africa, experts question whether the rising debt could pressure countries into giving up critical assets.
Zimbabwe moves to ban lithium concentrate exports starting 2027
The export of lithium concentrates from Zimbabwe will end in 2027 as part of a national push for domestic value addition.
Export boom fuels Ethiopia’s optimism for next year’s economy
Ethiopia forecasts stronger economic growth and rising export earnings for the next fiscal year, while planning a slightly larger budget deficit amid ongoing debt talks.
Central Bank of Kenya lowers rate to 9.75%
Kenya’s central bank has lowered its key lending rate to 9.75 percent to promote economic growth and support lending to the private sector.
Aramco’s $5 billion loan to Nigeria hits a wall amid oil price fall
Falling crude prices and limited output complicate Nigeria’s oil loan negotiations with Aramco and other lenders.
IMF backs Senegal’s self-funding but probe continues
Senegal’s push for fiscal independence is praised by the IMF though the misreporting issue remains unresolved.