Egypt’s NFA slump continues in August

Egypt’s net foreign assets decreased significantly in August, raising concerns about the country’s economic stability.

Niger partners with SpaceX’s Starlink for digital boost

Niger is leveraging Starlink’s satellite internet technology to bridge the digital divide and accelerate economic development.

Dbeibah and Meloni seal cooperation deals in Libya

Italy and Libya have signed several agreements to boost economic and political cooperation, focusing on development, investment, infrastructure, and migration.

Central bank chief pledges to tackle Nigeria’s inflation

Olayemi Cardoso, the head of Nigeria’s central bank, has assured investors that the bank is taking steps to stabilize the currency and improve access to foreign exchange.

Angola’s Cabinda refinery project over budget but on track

The refinery will reduce Angola’s reliance on fuel imports and boost its domestic energy supply.

France and Morocco seal €10B investment and energy deal

Valued at approximately €10 billion, the agreements encompass investment, energy, and infrastructure initiatives

Egypt and Turkey work together to boost tourism industry

Egypt and Turkey are now cooperating in the tourism sector, recognizing the potential for mutual benefit rather than competition.

Ghana aims to cut European fuel imports with Nigeria’s help

Nigeria’s Dangote Oil Refinery, once fully operational, could supply petroleum products to Ghana.

Kenyan court suspends $736M Adani power deal

The court’s suspension blocks the government from proceeding with the 30-year deal until it rules on a case filed by the Law Society of Kenya

Sub-Saharan Africa’s growth stunted by commodity dependence

IMF urges Sub-Saharan African countries to diversify their economies and implement reforms to overcome sluggish growth and address the impact of global economic shifts.

Mali threatens legal action against Canadian miner over pact

Mali accuses Barrick Gold of violating their mining agreement, but Barrick denies wrongdoing and highlights ongoing negotiations.

Canadian miner open to partnerships for Zambian operations

The company is facing financial challenges due to the closure of its flagship Cobre Panama mine and is exploring strategic partnerships to reduce debt and secure the future of its Zambian operations.

Nigeria drops money laundering charges against Binance exec

The company’s executive, Tigran Gambaryan, was recently released from detention after charges were dropped.

Violence and disputed results weigh on Mozambique’s bonds

Mozambique’s dollar bond experienced a decline for the third consecutive day on Wednesday. Tradeweb data revealed the bond’s price fell as concerns about public unrest persisted. The country’s only eurobond, maturing in 2031, dropped 0.54 cents to 84.92 on the dollar. This decline represents a loss of over two cents since Friday. Full results from

Mozambique’s dollar bond drops amid election dispute tensions

The situation escalated on Saturday when gunmen killed an opposition lawyer and a party official in Maputo

Egypt eurobonds drop on delayed Saudi investment

Despite optimism surrounding Saudi Crown Prince Mohammed bin Salman’s visit to Egypt.

Rainy season aids Ivory Coast’s cocoa, but financing lags

Ivory Coast’s cocoa crop is flourishing due to abundant rainfall, but quality issues and financing challenges are impacting the industry.

Mali’s economy minister announces debt repayment

Mali will repay 200 billion CFA francs ($332 million) of its internal debt to alleviate its economic burden, as announced by the economy minister.

Lafigue mine boosts Endeavour’s gold reserves in Ivory Coast

The newly opened Lafigue Mine aims for 200,000 ounces of annual gold production by 2025, with a $415 million investment by Endeavour Mining, further boosting Ivory Coast’s mining industry.

IMF approves $341M payment in Ethiopia’s loan program review

The International Monetary Fund (IMF) has completed its first review of Ethiopia’s $3.4 billion lending program, approving a $340.7 million disbursement, the IMF announced on Friday. This marks a significant step in Ethiopia’s economic reform efforts under the four-year program secured in July. The financing arrangement follows key reforms by Ethiopia, including the floating of

Another fuel price hike in Egypt: Impact on living costs

The Egyptian government has implemented another fuel price hike, which is expected to have a significant impact on the cost of goods and services.

Central bank chief calls for lower South Africa inflation target

Lesetja Kganyago, the governor of South Africa’s central bank, advocates for reducing the inflation target.

Ethiopia launches telecom sale to modernize economy

As part of its economic reform agenda, Ethiopia has resumed the partial privatization of Ethio Telecom, offering 10% of its shares to the public.

Kenya seeks $1.5B UAE loan amid IMF delay, tax protests

Kenya explores $1.5 billion loan with the UAE to address economic challenges and diversify financial sources.

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