Ghana’s economic crisis looms over elections
Economic hardship and debt crisis dominate discussions as Ghana heads to elections in December.
Data shows Egypt’s foreign assets fell again in October
Egypt’s net foreign assets fell by $1.12 billion in October, reversing September’s gain, with liabilities rising at both central and commercial banks.
Trump warns BRICS of 100% tariff over dollar shift
‘Say goodbye to selling into the wonderful US Economy’ if dollar replaced; President-elect Donald Trump warns BRICS
Record-breaking Black Friday online spending: $10.8 Billion
US shoppers spent a record $10.8 billion online on Black Friday, marking a 10.2% increase from the previous year.
Russia partially lifts gasoline export ban for producers
The move aims to stabilize the domestic fuel market, support refineries, and curb unauthorized exports
South Africa assumes G20 presidency amid polarisation challenges
This development follows the African Union’s recent entry as a permanent G20 member
IMF, Ethiopia agree on second review of $3.4B programme
Ethiopia secured the programme in July after floating its birr currency, a key IMF recommendation
South Africa’s MTN unveils budget-friendly 5G smartphone
MTN South Africa has launched an affordable 5G smartphone, the MTN Icon 5G, priced at 2,499 rand ($138), to make 5G technology more accessible to South Africans.
Morocco plans to legalize cryptocurrencies
Unlike decentralized cryptocurrencies, CBDCs are directly controlled by central banks
Ghana turns trash into treasure in fashion revolution
Local designers are transforming discarded garments into innovative and sustainable fashion pieces.
Congo’s LNG output to double with new FLNG
Eni is constructing a second FLNG facility in China to enhance Congo’s LNG production capacity to 3 million tonnes per annum.
Adani: Kenya deal axed, no business impact
Adani also denied involvement in a separate $2 billion plan to upgrade Kenya’s main airport
Ugandan president launches $3B railway project
Standard Gauge railway will be built by Turkish company Yapi Merkezi
Nigeria’s Dangote refinery faces crude supply shortfall
Nigeria’s government initiative to sell crude oil priced in naira to local refineries has been hindered by supply shortages, impacting operations at the Dangote Refinery.
Kenya cancels Adani projects amid corruption scandal
Kenya has canceled over $2.5 billion worth of deals with the Adani Group following a US indictment against the company’s founder.
Viatris pays Moroccan fine for merger notification failure
The fine, amounting to 7.58 million dirhams, has already been paid.
South Africa cuts rates despite mixed data
Despite lower inflation, the South African Reserve Bank took a measured step, lowering rates by 0.25%.
Egypt turns to foreign LNG suppliers to ease crisis
To stabilize its energy supply, Egypt is in talks with foreign companies to secure long-term LNG purchases, aiming to reduce exposure to fluctuating spot prices.
Nigeria launches Utapate crude, targets higher production
Utapate, Nigeria’s latest crude oil grade, offers a promising opportunity for the country to increase its oil production and revenue.
South African rand falls amid global market volatility
Global market volatility, triggered by Russia’s updated nuclear policy, led to a weakening of the South African rand
EU invests $96m in Cameroon’s infrastructure
Cameroon has secured a $96 million loan from the European Union to fund critical infrastructure projects.
Ghana limits pension investments
Ghana has imposed restrictions on private pension fund managers investing offshore to protect the local currency, the cedi, amid concerns about its weakening value.
Harmattan winds could disrupt Ivory Coast cocoa
Ivory Coast, the world’s top cocoa producer, is facing the threat of an early Harmattan season, which could harm cocoa pods and dry the soil, reducing bean yields.
Mali junta frees Resolute mining execs after payment
Resolute Mining’s CEO and two employees have been released after the company agreed to pay $160 million to the Malian junta to settle a tax dispute.