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.

IMF praises Senegal’s tax drive but holds firm on debt case

The IMF supports Senegal’s efforts to improve tax compliance and reduce reliance on external debt but says it won’t affect the ongoing misreporting case.

Egypt’s foreign assets shrink after March IMF boost

Egypt’s net foreign assets dropped by $1.5 billion in April after a March increase following IMF approval and investor inflows into treasury bills.

UAE’s IRH buys controlling stake in Congo’s Alphamin

IRH acquired 56 percent of Alphamin Resources for $367 million to secure key mining assets in Congo’s Bisie mine, a major global tin producer.

Egypt reroutes Nile water to develop upscale desert city near Cairo

Egypt plans a new desert city west of Cairo supplied by diverted Nile water to support housing and agriculture.

South African rand eases after Thursday’s jump

Dollar strength and lingering concerns over U.S. fiscal debt and potential tariff hikes weighed on the currency, despite South Africa’s own supportive monetary signals

Afreximbank: Ghana is current on loans despite creditor tensions

Ghana’s current repayments to Afreximbank put it at odds with other lenders seeking losses amid debt talks.

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.

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