DR Congo may extend cobalt export ban as prices continue to rise

Congo may extend its cobalt export ban beyond four months as officials assess its impact on global prices and market stability.

Ethiopia reaches agreement to restructure $8.4 billion in debt

Ethiopia reached an $8.4 billion debt restructuring agreement under the G20 framework, easing financial pressure as it works toward economic recovery.

Ethiopian workers to pay new tax after USAID funding freeze

Ethiopia has introduced a new tax to replace USAID funding, affecting workers and businesses as the country seeks to sustain development and humanitarian projects.

Dangote refinery temporarily stops naira-based fuel sales

Nigeria’s Dangote refinery has temporarily stopped selling fuel in naira due to a stalled naira-for-crude deal with NNPC.

Nigerian oil consortium probes Trans Niger pipeline explosion

The Trans Niger Pipeline (TNP), a critical export route with a capacity of 450,000 barrels per day

Kenya seeks new IMF deal after scrapping latest review

The decision, announced at the end of an IMF mission visit to Nairobi, comes as the East African nation struggles with mounting debt servicing costs following years of heavy government borrowing

Talks between Capricorn and Egypt advance on gas concessions

Capricorn Energy is in advanced talks with Egypt’s state-owned petroleum company to amend gas concession agreements, aiming to increase investment and production.

South Africa’s budget may be revised amid political standoff

The budget has become a major test for the fragile coalition government formed after the ANC lost its parliamentary majority last year for the first time since the end of apartheid

IMF says Egypt plans fuel subsidy cuts

Egypt is committed to eliminating fuel subsidies and reaching cost recovery levels by December 2025, as stated by the IMF, to address its current account deficit.

IMF completes fourth review and releases $1.2 billion to Egypt

The IMF has approved a $1.2 billion disbursement for Egypt after completing its latest economic review.

Petrobras plans Africa oil exploration wells

Petrobras is exploring opportunities in Argentina, advancing projects in Colombia, and planning exploratory wells in Africa to expand its oil and gas operations.

Ghana government scraps IMF-linked tax levies

Ghana’s new government scrapped several Covid-era taxes, including a mobile money levy, to ease economic hardship and boost business growth.

African finance body pushes for pension funds to invest locally

The Africa Finance Corporation aims to mobilize billions from African pension funds and attract external investments to boost the continent’s infrastructure and economic growth amid shifting global financial flows.

US, Congo discuss critical minerals partnership

United States considers mineral partnerships with Congo amid security concerns and resource wealth.

Zambia and Huawei showcase smart village digital transformation

The smart village project focuses on enhancing education and healthcare through digital technology.

Barrick seeks resolution with Mali over mining dispute

The Malian government and Barrick Gold are working to finalize an agreement regarding gold exports.

France will loan funds for Morocco’s high-speed trains

The Moroccan rail operator ONCF expands its network with loans from France, Spain, and South Korea.

ERG halts cobalt deliveries from Congo due to export ban

It is impacting the global cobalt market, as ERG is a major producer and lacks stockpiles outside the DRC.

Microsoft to invest $296M in AI infrastructure in South Africa

Speaking at an event in Johannesburg, Smith also revealed that Microsoft plans to fund technical certification exams for 50,000 individuals

Nigeria’s Seplat plans $320 million investment to boost oil output

Seplat Energy plans to invest up to $320 million in new wells and infrastructure in Nigeria this year, aiming to more than double its oil output to as much as 140,000 barrels per day following its acquisition of ExxonMobil’s Nigerian assets.

Libya begins first oil bidding round since Gaddafi’s fall

After 17 years of hiatus, Libya opens first oil exploration bidding round to attract foreign companies.

Uganda partners with firms to restart copper mining operations

Uganda has signed its first mining production sharing agreement with local firms Sarrai Group Limited and Nile Fibreboard Limited to redevelop the Kilembe copper and cobalt mine.

Rainfall crucial for Ivory Coast’s cocoa mid-crop development

Cocoa farmers in Ivory Coast urge for more rain to strengthen mid-crop and ensure better yield.

Egypt, EU sign €90M deal to strengthen food security

The funding, provided by the European Investment Bank (EIB), will be used to upgrade Egypt’s grain storage and logistics infrastructure

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