Temu office in Turkey searched in antitrust inspection
Turkey’s antitrust authority raided Temu’s office in Istanbul in an on-site inspection
Malawi raises petrol and diesel prices sharply to prevent shortages
Malawi raised petrol and diesel prices sharply to prevent shortages and protect scarce foreign reserves amid economic recovery efforts.
DRC opens key state minerals to US investors
Congo has provided Washington with a vetted list of state-owned mineral assets for U.S. investors as part of a strategic partnership.
Ivory Coast moves to buy 100,000 tons of surplus cocoa this week
Ivory Coast will buy 100,000 tons of surplus cocoa to protect farmers’ income and social stability amid cross-border supply pressures.
Egyptian retailer Gourmet aims to raise funds through public offering
Gourmet plans to sell 47.6 percent of its shares in a February IPO to fund store and delivery expansion in Egypt.
IMF clears new review as Ethiopia moves closer to fresh funding
The IMF has completed its latest review of Ethiopia’s financial programme, paving the way for a new $261 million disbursement as reforms and debt talks continue.
Nigeria’s SEC raises capital bar, reshaping the securities industry
Nigeria’s SEC has sharply raised capital requirements across the securities industry in a sweeping recapitalisation push that could force consolidation and reshape the market.
African exporters hail US vote on AGOA
African manufacturers welcomed US congressional approval to revive AGOA but warned delays are hurting exporters, threatening jobs and straining trade across the continent.
AfDB courts Arab lenders to close Africa’s growing funding gap
The African Development Bank has launched a new partnership drive with Arab development funds to mobilise long-term financing as Western donors scale back support to Africa.
South Africa hails US House approval to extend Africa trade deal
South Africa welcomed the U. House approval to extend AGOA for three years, securing trade and jobs for African businesses.
UAE, Nigeria sign historic economic partnership boosting trade ties
The UAE and Nigeria signed a comprehensive economic partnership to boost trade, lower tariffs, and expand investment in strategic sectors.
Egypt signs $1.8bn renewable energy deals
Egypt announces $1.8bn renewable energy investments to strengthen solar and storage capacity.
US weighs lifting Venezuela sanctions to restart oil sales
The United States says it could soon lift more sanctions on Venezuela to restart oil sales, unlock frozen IMF assets and support economic rebuilding after the arrest of Nicolas Maduro.
Senegal’s prime minister asserts debt is sustainable despite crisis
Senegal’s prime minister insists the country’s debt is sustainable and rules out restructuring while pursuing a recovery plan amid IMF scrutiny.
Zambia drops IMF loan extension plan ahead of programme expiry
Zambia has decided not to pursue a one-year extension of its IMF loan programme, which is due to expire at the end of January, as it prepares for elections and faces high inflation.
De Beers draws African and global interest as Anglo plans exit
De Beers has attracted interest from African governments and investors as Anglo American looks to sell its stake, while the company targets growth in India and industrial diamonds.
China’s top diplomat launches Africa tour to deepen trade ties
China’s foreign minister Wang Yi has launched a New Year tour of four African countries aimed at strengthening political trust, expanding trade, and reinforcing Beijing’s engagement across the continent.
Egypt signs energy cooperation deals to supply gas to Syria
Egypt has signed two agreements with Syria to cooperate on gas supplies and petroleum products to support electricity generation amid ongoing energy shortages.
Ethiopia bond rises on preliminary restructuring deal
Ethiopia’s sole international bond rose after the government announced a preliminary restructuring deal with bondholders following renewed talks.
Egypt and Qatar sign LNG deal to bolster summer gas supplies
Egypt and Qatar signed an agreement to boost LNG cooperation, including up to 24 Qatari cargoes this summer, as Egypt seeks to offset declining gas production.
Africa shifts from raw material exports to industrial production
The African Union is driving a structural shift to transform the continent from a raw material exporter into a value-added industrial hub powered by strategic minerals and a young workforce.
Neuralink plans high volume production of brain chips in 2026
Elon Musk announced that Neuralink aims to begin mass-producing its brain-computer interface devices and transition to fully automated surgical procedures by 2026.
Senegal eyes swift IMF deal as debt talks progress
Senegal says talks with the IMF are progressing well as it seeks to finalise a new programme amid efforts to rein in a growing debt burden.
Tinubu orders Nigeria tax reforms to take effect amid dispute
Nigeria will implement new tax laws from January 1 as President Bola Tinubu dismisses opposition claims that the gazetted reforms contain unauthorised and unconstitutional changes.
Ghana resolves Afreximbank dispute over $750 million funding deal
Ghana’s finance ministry said it resolved issues with Afreximbank over a $750 million financing facility to the satisfaction of both sides.
Egypt’s central bank cuts rates by 100 points as inflation eases
Egypt’s central bank cut overnight interest rates by 100 basis points, citing easing inflation and steady growth while flagging risks from non-food prices and fiscal measures.
Egypt begins laying tracks for first high-speed train across desert
Egypt has begun constructing its first high-speed train, the Green Line, to connect the Red Sea and Mediterranean and modernise transport.