BRICS nations Russia, India, and China urged to lead Africa’s infrastructure renewal
South Africa has proposed involving BRICS nations Russia, India, and China in the large-scale renewal of Africa’s infrastructure to create a continental transport hub, a senior business leader said. Elias…
Business
Zambia Secures Debt Restructuring Deal with Saudi Arabia
Zambia and Saudi Arabia have signed a debt restructuring agreement to reschedule more than $130 million of Zambia's debt to…
Top 10 Most Indebted African Countries in 2024: A Closer Look at IMF Debt
As of December 2024, numerous African nations find themselves increasingly dependent on loans from the International Monetary Fund (IMF) to…
Missing $400M in Gold Sparks Scandal at Guinea’s Central Bank
The Central Bank of the Republic of Guinea (BCRG) is under intense scrutiny after the disappearance of nearly 4 tonnes…
UAE Emerges as Leading Investor in African Business Projects
The United Arab Emirates (UAE) has become the largest investor in new African business projects, further solidifying its growing economic…
Russia Subsidizes 50% of Cargo Costs to Africa, Latin America Amid Sanctions
In a strategic move to strengthen trade ties with the Global South, Russia has announced a new subsidy program designed…
Nigeria Lifts Five-Year Mining Ban in Zamfara, Cites Improved Security
Nigeria has lifted a five-year ban on mining activities in Zamfara state, a region rich in gold, lithium, and copper,…
Sanctions on Russian Diamonds Pose Significant Challenges for African Economies, Report Reveals
The recent wave of sanctions imposed by the G7 and the European Union on Russia’s diamond industry has raised concerns…
How Egypt Can Leverage Fintech and African Free Trade Deals to Create a Long-Term Revenue Stream
Earlier this year, Egypt captured global attention with a significant $35 billion funding deal from the UAE, with additional investments…
Russia Plans Major Increase in Grain & Fertilizer Exports to Nigeria
Russia is positioning itself to become a major supplier of grain and fertilizers to Nigeria, with projections indicating that some…
Kenya Restores Power After Major Blackout Disrupts Electricity and Internet
Kenya Power and Lighting Company announced the restoration of power supply on Wednesday following a significant blackout that disrupted electricity…
Senegal Seeks Debt Extension Amid Fiscal Revisions
In June 2023, the International Monetary Fund (IMF) approved a $1.8 billion support package for Senegal, which included a $1.51…
Ethiopia Greenlights Foreign Banks to Enter Market Amid Economic Reforms
In a historic move, the Ethiopian Parliament has officially approved Proclamation 1359/2024, paving the way for foreign banks to operate…
