- The effect of pirate attacks on the Red Sea from Yemen-based militants, Houthi, has found its way into the Kenyan economy. On Wednesday, the Kenya Ships Agents Association (KSAA), warned of more increments in shipping costs. They relayed to importers in the country that the attacks from Yemen…
- Mali has announced that it will not adhere to the one-year waiting period mandated by the Economic Community of West African States (ECOWAS) for withdrawal.
- The number of Ugandans looking to visit China has increased in recent years. After the Covid-19 pandemic hit, there has been a slight increase in the number of Ugandans applying for Chinese visas, despite an initial scare. This information was put out by the Chinese ambassador to Uganda, Zhang…
- Two companies within the Dangote Industries Group are set to be listed on the exchange shortly, according to Umaru Kwairanga, Chairman of the Nigerian Exchange Group.
- In an effort to bolster Tanzania’s digital data pool and e-related services, the government is looking to integrate artificial intelligence into its e-government platforms. The country has been making a push to adopt digital solutions across sectors. This new initiative would aid in curbing…
- Zimbabwe's cabinet has decided to eliminate the death penalty for murder offences, marking the end of a practice that had not been implemented for almost two decades.
- Exports from China to Kenya saw a decline in 2023. This rare occurrence given the fact that China is Kenya’s leading source of goods, came amidst the Kenya’s rising cost of living, and a growing cap in the value of commodities. This level of decline has not been experienced in recent years, not…
- The World Bank is currently pushing against a legal case brought against it which involves Kenya. The Bank’s president, Ajay Banga disclosed on Monday, that the allegations brought against the bank's International Finance Corp (IFC) arm are untrue. The bank faces an accusation of sexual assault at…
- Last year proved economically turbulent for many African countries. According to the World Bank's Global Economic Prospect Report, growth in Sub-Saharan Africa (SSA) decelerated to an estimated 2.9 percent in 2023.
- A recent report from the Boston University Global Development Policy Center has urged for an urgent global initiative in 2024 to assist vulnerable nations in preventing financial collapse and addressing climate change.
- The dangers of corruption in Africa are manifold, affecting every facet of society. Tackling corruption requires a comprehensive and concerted effort from the government and civil society. Implementing robust anti-corruption measures, strengthening institutions, and promoting transparency are…
- Tanzanian officials are in the process of maximizing its carbon trade market. The country is set to register carbon trade projects worth $1 billion. (Sh2.4 trillion). This would come into effect once the country is done with the registration of its planned schemes, as investment into this market…
- Senegal's lawmakers have approved a 10-month delay for the presidential elections to conduct a parliamentary investigation into the candidate selection process.
- The relationship between Kenya and South Africa seems to be blossoming as trade between both countries, particularly on the side of South Africa, strengthens. A recent report showed that Kenya’s imports from South Africa increased significantly, while South Africa’s imports from Kenya declined.…
- Now, especially with the whole COVID-19 pandemic the world dealt with a few years back, it's become clear how having a solid healthcare system is crucial for a country and how it can impact the economy. The adage "health is wealth" has never rung more true.
- Sunday was a sombre day for Namibia as President Hage Geingob passed away at the age of 82 while undergoing medical treatment in Windhoek. The death of a country's leader is an event that transcends political boundaries and sparks collective grief.
- A start-up that Bill Gates and Jeff Bezos have investments in just discovered massive copper deposits in Zambia. Production from this reserve is projected to decrease the West’s dependence on China for the precious material. It is also expected to aid in the fight for decarbonization, as the world…
- The dollar rate at Kenyan commercial banks fell a little as the Kenyan shilling gained value. The Kenyan currency during the past week made a comeback against the US dollar. As a result, there has been a noticeable increase in the confidence of players in the country’s currency market. This new…
- Senegal has restricted access to mobile internet as opposition leaders and their supporters stage protests against President Macky Sall's decision to postpone the Feb. 25 presidential election over an electoral dispute.
- The Central Bank of Nigeria has identified that $2.4 billion out of the reported $7 billion outstanding foreign exchange liabilities of the federal government are not valid for settlement.
- Africa is currently experiencing unprecedented population growth. According to United Nations estimates, the continent's population is projected to double by 2050, reaching over 2.5 billion people. This surge is driven by factors such as high fertility rates, declining mortality rates, and an…
- Multichoice, Africa's leading broadcasting conglomerate, has rejected a takeover bid from French corporation Canal+. Canal+, Vivendi's owned pay-TV provider, made a non-binding purchase bid that did not fulfill Multichoice's organizational appraisal standards. With a market capitalization of $2.15…
- A rift between China and the Democratic Republic of Congo has been averted owing to the intervention of the Congolese government. The Congolese government noted that it recently resolved the controversial mining deal between it and China. The contentious deal had felt like it would sour the…
- Addressing the detrimental effects of a high crime index in African nations requires a multifaceted and collaborative approach. This has become all the more important given the exposure the crime levels in Africa are receiving. This issue permeates various aspects of society, influencing…
- Mozambique is set to terminate a 50-year hydropower supply agreement with South Africa's state-owned electricity utility, raising risks for the continent's most industrialized economy and jeopardizing the future of Africa's second-largest aluminium smelter.
- Africa’s economic future after suffering a heavy toll during the 2020 Covid-19 pandemic, is set to pick up steam. A recent report by the International Monetary Fund shows that its economic projection for the next two years is on an upward trajectory. In retrospect, sub-Saharan Africa is poised to…
- To address forex supply issues, the CBN is taking new steps and banks are the target. On Wednesday, January 31, 2024, the Central Bank of Nigeria (CBN) issued a circular titled "Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks."
- Banks and fintechs in Nigeria are now prohibited from providing international money transfer services, according to the updated guidelines for International Money Transfer Operators (IMTOs) released by the Central Bank of Nigeria (CBN).
- The Kenyan government has launched a groundbreaking initiative known as the "West Africa Roadshow", which aims to promote the richness and diversity of the country's travel destinations following a significant change in its visa policy.
- Beyond the direct benefits to citizens, low crime rates in African nations have more nuanced advantages. For starters, they provide the groundwork for long-term growth by drawing in foreign investors and skilled professionals. Having an identity that guarantees safety contributes to the continent's…
- Zanzibar has persisted in its efforts to rank among the top tourist destinations in the world. The island nation’s latest move concerning its goals is its partnership with the English football club Chelsea. Zanzibar’s government recently partnered with the football club on a promotional deal. The…
- Edward Nzesya, the younger brother of the late PepsiCo executive, William Mulwa Mutilangi, is looking to take legal action against Tanzania’s Bakari Kisalu Malanda who claims to be William Mulwa’s son. The petition filed by Edward Nzesya is against Bakari’s claim of being William Mulwa’s successor…
- African cities are big, vibrant, and on the rise. But beneath their glamorous appearance is the problem of pollution, and the causes are pretty clear.
- Vivendi's Canal+, the French media giant has shown interest in assimilating Africa’s largest TV network, Multichoice to its establishment. The French company relayed on Tuesday, that it recently submitted an offer to acquire South African pay-TV company MultiChoice Group. Multichoice currently has…
- The Central Bank of Nigeria (CBN) has eased rules on international money transfers, taking another step in freeing up its volatile foreign-exchange market to attract billions of dollars being sent home by citizens living abroad.
- On Wednesday, Mali clarified that it has no intentions of exiting West Africa's currency zone, while Burkina Faso hinted at its withdrawal after both countries, along with Niger, declared their departure from the regional political bloc as a form of protest, Reuters reported.
- One of Africa’s largest oil-producing countries; Nigeria, is in the process of ensuring the operation of a second refinery. The government, on Wednesday, noted that the Port Harcourt Refining Company was still being tested, and its products are set to hit the markets pretty soon. The Dangote…
- Africa benefits greatly from low levels of corruption, as seen by increased public services, social stability, economic growth, and international cooperation. In addition to directly benefiting the countries, anti-corruption initiatives help advance the continent's general growth and well-being.…
- Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have officially confirmed their participation in the BRICS bloc after receiving invitations last year, according to South Africa's Foreign Minister Naledi Pandor.
- Femi Otedola, Nigeria's billionaire businessman and chairman of Geregu Power Plc has taken on the role of the chairperson of the board of FBN Holdings Plc.
- Nigeria’s economy in 2023 faced some nagging challenges, particularly by the country’s own hand. Major sectors in the West African nation were impacted by said challenges, including one of the country’s premier sectors; agriculture. Production in this industry faced roadblocks in the form of fuel…
- On Sunday, January 28, 2024, the military governments of Burkina Faso, Mali and Niger jointly announced their exit from the Economic Community of West African States (ECOWAS).
- Kenya's president William Ruto gave his approval to Italy's plan for enhanced collaboration with Africa, citing it as a demonstration of Europe's sincere interest in the continent, even amid concerns about the limited initial funding.
- One of Ethiopia’s most precious artifacts "Tsehai" that was taken away by Italy has been returned. The East African country’s first manufactured airplane was returned by Italy on January 30th. The aircraft was received by Ethiopia’s prime minister Aby Ahmed, who noted that the day of the return…