Ivory Coast cocoa trees flourishing, promising bumper harvest

Farmers are anticipating a bountiful harvest as the October-to-March main crop season approaches.

Meta faces legal battle in Kenya after court ruling allows lawsuit

the kenyan court of appeal has ruled that meta can be sued in kenya over the firing of content moderators who claim their termination was unlawful setting the stage for a legal battle with the company.

Coca-Cola to invest $1B in Nigeria over 5 years

This announcement comes amidst an exodus of several multinationals like Procter & Gamble and GSK from Nigeria due to foreign exchange shortages

Egypt targets summer 2025 for full gas field production

The government plans to settle arrears with production companies and ensure sufficient electricity supply.

Chinese company to build 800 MW dam in Congo

Congo-Brazzaville is set to embark on a major hydroelectric dam project, with construction scheduled to begin in 2025.

EU invests millions to make Rwanda a pharmaceutical hub

European Union has granted $44.4M to support Rwanda’s ambition to become a regional pharmaceutical and biotech hub.

Why Chinese automakers are boosting African EV production?

As Western tariffs on Chinese-made evs rise, China is shifting production to Africa, where mineral resources and labor are abundant.

Ghana loses 160,000 tons of cocoa to smuggling

Ghana has experienced a severe drop in cocoa production due to smuggling, losing over 160,000 tons in the 2023/24 season.

Ethiopian Airlines expands with new daily service to Port Sudan

Ethiopian Airlines will commence daily flights to Port Sudan on October 15, 2024, offering a seamless connection from Addis Ababa.

Kenya awards power transmission contract to India’s Adani group

The $1.3 billion concession will be managed by Kenya Electricity Transmission Company (KETRACO)

Malawi tobacco industry thrives amidst harsh conditions

The country’s tobacco industry benefited from strong global demand, despite the challenges posed by the dry weather.

Egypt’s GASC secures Russian wheat in private deal, sources say

Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), made a private purchase of Russian wheat this week, bypassing the traditional tender process, according to three sources familiar with the deal, as reported by Reuters. Two of the sources revealed that GASC secured 430,000 metric tons of Russian wheat for shipment in October.

West African central bank holds interest rates steady

The Central Bank of West African States (BCEAO) kept its main lending rate unchanged at 3.5% and maintained its inflation forecast for the region at 3.7% for 2024.

Adani’s Kenya airport plans hit legal hurdle

Critics raised concerns about the deal’s impact on jobs and taxpayer profits.

Libya’s oil output at stake as UN mediates central bank dispute

The UN is mediating talks between Libyan factions to resolve a central bank crisis that has halted oil production and threatened stability.

China pledges billions to Africa, skips debt relief

Although China’s latest financial pledge surpasses its 2021 commitment, it falls short of the $60 billion promised in 2015 and 2018

South Africa’s Land Bank secures deal to resolve debt default

The state-owned agricultural bank had defaulted on its debt in April 2020 and missed a restructuring deadline in March 2021

Cocoa traceability system in Ghana prepares for new EU law

Ghana’s cocoa farmers are benefiting from a new traceability system that helps ensure their products comply with the EU’s upcoming deforestation law.

China invests in Chad and Senegal’s energy, infrastructure

China expands its presence in Africa with new projects in Chad and Senegal, focusing on energy, infrastructure, water, and technology.

Xi vows stronger China-Libya ties

At the FOCAC summit, Chinese President Xi Jinping assures Libya of China’s support for its stability and development.

Coalition govt, reduced power cuts boost S African business

South African business confidence increased in the third quarter due to a stable electricity supply and the formation of a coalition government.

Aspen pharmacare eyes to produce mpox vaccines

The drugmaker is in talks with potential partners to establish manufacturing capabilities.

Nigeria, China sign nuclear energy deal

Nigeria and China agree to deepen ties in Belt and Road initiative and nuclear energy sector.

China’s influence in Angola grows with increased financing

Angola’s finance minister is calling for increased Chinese financing to support the country’s economic diversification and import of Chinese goods.

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