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.
South Africa calls for affordable, balanced energy transition
Mantashe criticized the global imbalance in climate responsibilities, noting that while Africa contributes the least to global greenhouse gas emissions, it faces disproportionate pressure to decarbonize
Turkey’s political turmoil hits economy and reserves, says EBRD
The detention of Istanbul Mayor and main opposition leader Ekrem Imamoglu on March 19 caused the Turkish lira to drop sharply
Bitcoin climbs past $100,000 as global trade confidence rises
The price of bitcoin climbed past $100,000 as investors responded positively to new trade deals and signs of global financial stability.
China tariffs affect Africa, Moody’s flags banking risks
Moody’s warns that African banks could suffer from higher costs and weaker demand due to second-round effects of U.S. tariffs on China.
Guinea moves to revoke EGA’s license amid alumina refinery dispute
Guinea’s recent move to revoke EGA’s license comes after multiple warnings regarding the company’s non-compliance with its refinery construction agreement
You will understand animals: China’s Baidu seeks for AI patent
Baidu has filed a patent for an AI system that translates animal sounds and emotions into human language using multiple AI technologies.
Rolls-Royce & Turkish Technic sign engine maintenance deal
Turkish Technic and Rolls-Royce create a major engine maintenance center at Istanbul Airport with $700M economic impact.
Spill forces Nigeria’s Renaissance to stop pipeline oil shipments
Renaissance Africa Energy halted oil transport through a Nigerian pipeline after a spill was detected in the Rivers state region.
Banker Henri-Claude Oyima takes Gabon’s finance ministry
Gabon’s new finance minister, Henri-Claude Oyima, is set to address the country’s liquidity crisis and economic revival.
Conflict in Congo drives tantalite prices up across Europe
Tantalite prices hit two-year highs in Europe due to supply issues from the DRC, where conflict has disrupted the global aerospace material supply.
Nigeria approves $652M road project with China Exim Bank
China has been a significant financial partner for Nigeria, providing billions of dollars in loans for infrastructure projects, including power, rail, and road development
Egypt inks 50-year deal with AD Ports for new trade zone build
Egypt and AD Ports agree to build a logistics and industrial zone near Port Said under a 50-year deal with $120 million in initial investment.
Starlink gets Congo licence after rejection
The Congolese government reversed a March ban and granted Starlink permission to operate, citing readiness for service rollout.
US eyes peace accord and billion-dollar Congo-Rwanda deals
As M23 rebels advance in Congo, the U.S. is brokering peace talks with Rwanda and mineral agreements involving Western companies.
Nigerian judge delays Binance tax evasion hearing to mid-May
The Nigerian court postponed the Binance tax hearing after debating the legality of serving court documents to the crypto exchange by email.
BRICS ministers criticize growing global trade protectionism
BRICS countries voiced their rejection of trade protectionism in Rio, showing consensus amid growing global tensions over tariffs and trade conflicts.
Trump demands free passage for US ships in Egypt’s Suez
Trump asserts that American ships should have toll-free access to the Panama and Suez canals and orders immediate diplomatic action to secure it.
Tanzania lifts ban on agricultural imports from South Africa, Malawi
Earlier this week, Tanzania’s Ministry of Agriculture had imposed a ban on agricultural imports from both nations and also halted the export of Tanzanian fertilizer to Malawi
Burkina Faso signs deal with Nordgold for gold amid crisis
Burkina Faso has granted a mining lease to Russia’s Nordgold to develop a gold project aimed at boosting the country’s economy amid ongoing security challenges.
China and Kenya strengthen ties amid global uncertainty
In a joint statement, Xi and Ruto committed to enhancing China-Africa cooperation as a foundation for world stability, emphasizing solidarity as a counter to the ongoing global turbulence
Ghana in talks as Atlantic Lithium seeks to save Ewoyaa project
Atlantic Lithium is negotiating with Ghana for revised fiscal terms on its first lithium project after a sharp global price drop threatens its viability.
Trump plans to spare automakers from tariffs on select imports
Trump is reportedly preparing to exclude carmakers from tariffs on car parts, steel, and aluminum, easing trade tensions for the industry.
US Treasury head warns tariffs on China are hitting a dead end
US Treasury chief Scott Bessent calls the trade war with China unsustainable and signals that easing tensions may be necessary for economic stability.
Morocco begins tender process for major LNG terminal in Nador
The LNG project in Nador is part of Morocco’s plan to boost energy capacity and diversify sources.