- The Dangote oil refinery is gearing up to take in around 400,000 barrels of Nigerian crude daily over the next few months, shaking up Africa’s import and export scene.
- The world's poorest nations are being forced to prioritize debt repayments over important investments, affecting their progress toward achieving sustainable development goals.
- Hundreds of teachers in Zimbabwe held a peaceful demonstration over the weekend to demand salary increases amidst a backdrop of ongoing economic challenges.
- The combined GDP of all African countries which currently stands at $2.8 trillion in 2024 is partly fueled by the strengths of Africa’s super five economies that power the continent.
- Attack helicopters are specialized military assets typically used by the army or air force to provide firepower and close air support (CAS) for ground troops. On the continent, Egypt leads the pack with 100 attack helicopters, ranking 7th globally.
- The Nigerian National Petroleum Company Limited (NNPC), Nigeria’s oil regulatory body, has reportedly decided to be hands off with the operations of Dangote’s refinery. Once actualized, fuel pricing would be determined by market forces as defined by the Dangote refinery and marketers. This is…
- There were significant transformations in Africa’s business landscape in the last three quarters of 2024 which also reflected in the net worth fluctuations of some of the continent's richest individuals.
- Foreign investment in Kenya has significantly increased in the first half of the year, compared to the fiscal year prior indicating growing investor confidence as inflation eases in the East African nation.
- As of 2023, Egypt held the largest share of Africa's GDP at 13.63%, according to an IMF report, followed by South Africa with 13.01%, and Nigeria in third place with 12.50%.
- The government of Zimbabwe, in an attempt to mitigate the impact of the recent devaluation of the ZiG, has announced that salary raises and an annual bonus for civil servants in the country will be paid in US dollars.
- The federal government of Nigeria has commenced the sale of its crude oil to Dangote Refinery and other refineries in its local currency, naira, effective October 1, 2024.
- The West African country of Burkina Faso is looking to increase its gold autonomy. The country intends to bolster production of gold via indigenous mining establishments. As a result, several foreign mining companies in the country are at risk of being expelled.
- In light of the Navy Festival currently taking place in South Africa, thousands of people are gathering at Simon's Town to enjoy exhibitions of the country's naval prowess. Of these displays are Russian warships which reportedly dazzled those in attendance. Russia and South Africa share a budding…
- Across the world, more than 365 million Christians suffer high to extreme levels of persecution and discrimination for their faith in Jesus. That’s 1 in 7 Christians worldwide, according to a World Watch List by Open Doors.
- While large-scale mining companies must follow stringent environmental regulations, the artisanal and small-scale mining sector remains far less controlled.
- High cost of groceries within a city, has the potential to significantly affect households, the economy, and wider socioeconomic dynamics. Fortunately, this problem is non-existent in several regions globally. Among said regions are some African cities.
- Countries, like companies, have brands that reflect their identity, values, and perceptions. In Africa, the importance of national branding is particularly pronounced, with countries competing for attention and investment in the global market.
- Nigeria's central bank has announced the introduction of an Electronic Foreign Exchange Matching System (EFEMS), for Foreign Exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM).
- Nigeria's export value decreased in the second quarter of 2024 compared to the quarter before. When compared to the same quarter last year, the nation did, however, see an uptick. This was partly thanks to the products the country exported to other African countries, including its ECOWAS neighbors.
- In light of the growing demand for copper, cobalt, lithium, all of which are necessary to power the growing tech age, and a greener earth, countries with large reserves of these minerals are prime for larger revenue generation. Fortunately, there are numerous countries in Africa which fall under…
- The National Bank of Ethiopia has allocated $175 million in foreign exchange to the state-owned Ethiopian Petroleum Supply Enterprise to cover upcoming fuel-related import payments.
- While African youth generally do not consider Russia to be among the most influential international players in the region, about two in five (41%) still perceive it as having some influence in their countries, a level well below that of the US and China.
- Tanzania has issued a suspension on the digital platforms of Mwananchi Communications Ltd for putting out content it deemed damaging to the country’s image. However, the opposition to the ruling party criticized the move, urging the government to lift the ban. Currently, it is unclear which content…
- Tanzania has issued a suspension on the digital platforms of Mwananchi Communications Ltd for putting out content it deemed damaging to the country’s image. However, the opposition to the ruling party criticized the move, urging the government to lift the ban. Currently, it is unclear which content…
- While loans from the International Monetary Fund (IMF) can provide critical financial support and help to stabilize an economy, they can also come with major obligations and obstacles. When a country receives considerable loan from the IMF, its risks incurring a nagging debt burden. This is why…
- Libya is set to resume oil production on Thursday, bringing hundreds of thousands of barrels per day back to global markets after resolving a political standoff.
- Zimbabwe has eased its mandate for lithium miners to process the mineral domestically, as the sector struggles with a price slump over the past year.
- The expense of eating nutritious meals in Nigeria has been a cause of concern for the average citizen in the last year. For a little more than a year, Nigeria has seen some of its worst food inflation, putting a balanced diet further out of reach for the common man. However, the cost of eating a…
- In Q2 2024, Nigeria spent ₦12,473.53 billion on imports, accounting for 39.11% of its overall commerce. During this time, Nigeria traded with a number of countries within and outside of Africa. The West African country imported a wide variety of items from these countries.
- Recently, Kenyan lawmakers have begun looking into the prospect of extending the terms served by the president and parliamentary members (MPs). The bill proposes a 7 year presidential term as opposed to the current 5 years. The term increase also applies to governors, MPs, and Members of the County…
- While many applicants face hurdles when applying for a temporary U.S. visa, certain countries enjoy notably low rejection rates. Seychelles boasts the lowest U.S. visa rejection rate, standing at 4.55%.
- Some African countries possess only a limited number of modern self-propelled artillery units. For instance, the Republic of Congo has just two such units, ranking 96th according to Global Firepower.
- Some African countries possess only a limited number of modern self-propelled artillery units. For instance, the Republic of Congo has just two such units, ranking 96th according to Global Firepower.
- Brazilian state-run oil company Petrobras announced on Tuesday that its board has approved the acquisition of a 10% stake in the offshore Deep Western Orange Basin (DWOB) oil block in South Africa.
- Nigeria’s petrol usage has significantly declined in response to the country’s removal of fuel subsidy, despite an increase in locally produced fuel. The current president of the country; Bola Tinubu, had removed the fuel subsidies on his inauguration day. Since then, the country has faced its…
- Kenya's inflation rate fell in September relative to August. According to the East African country’s bureau of statistics, Kenya’s inflation rate dropped to 3.6% from 4.4% the month prior.
- In African cities, high prices of food may have a significant impact on households, local economies, and broader societal dynamics. While farmers markets are more common in many African nations, grocery stores are about equally distributed. As a result, groceries in many African nations have a…
- Uganda has received its first batch of line pipes for its East African Crude Oil Pipeline (Eacop). The east African country received the shipment on Monday at the pipe yard in Kyotera District. This is months after Tanzania received its first batch of pipes for the joint project.
- The United Nations security council, on Monday was informed about the large sum rebels generate in the eastern part of the Democratic Republic of Congo (DRC). They were informed on the illegal tantalum operations going on in the area.
- On Monday, Angolan billionaire Isabel dos Santos lost her appeal to lift an order freezing up to £580 million ($778 million) of her assets in a lawsuit at London’s High Court.
- Despite the fact that a large loan from the International Monetary Fund (IMF) can provide critical financial support and help stabilize an economy, notably in some African countries, it also includes significant responsibilities that a country must properly handle. In effect to considerable IMF aid…
- Since around the year 2000, the global prison population has grown by 27%. In Africa, the prison population has gone up by 53%, but that’s less than the continent's general population increase of 78%.
- The World Bank has approved a $1.57 billion financing package for Nigeria as part of a new program aimed at boosting the country's health and education sectors.
- In recent years, Russia has been consolidating its energy-related arrangements with a number of African nations. In light of the Russian Energy Week which took place in Moscow from September 26-28, conversations on such deals have gained traction. As a result, several African countries including…
- Getting a U.S. visa can be an uphill task, especially for people coming from countries with high rejection rates. In Africa, Mali has the highest rejection rate at a staggering 60.16%. Following closely is Gambia, with a rejection rate of 60.40%, and Guinea comes in third at 61.37%.
