US grants Sierra Leone $480M to boost electricity access
Currently, only about 30% of the country has access to electricity, with rural access plummeting to below 5%
Four barrick gold employees arrested in Mali
Mali’s junta has continued its anti-Western policies with the arrest of four Barrick Gold employees.
Zimbabwe lets gold-backed currency drop by over 40%, interest raised
The ZiG, representing Zimbabwe’s sixth attempt at a stable currency within 15 years, was introduced to curb inflation
Russia and Mali advance talks on lithium and solar energy projects
The discussions also included plans for a 200-megawatt (MW) solar power plant to be constructed by Novawind, another Rosatom subsidiary
New leader Faye address Senegal’s financial woes
Senegal’s government unveils a long-awaited financial review, addressing economic challenges and outlining plans for future growth and development.
Nigeria’s Central Bank surprises with rate Increase to 27.25%
Many analysts had anticipated that the central bank would maintain the current rates, especially after inflation declined for the second month in a row in August
Libya’s oil exports plummet amid political crisis
The National Oil Corporation has declared force majeure on several oilfields and ports.
S Africa proposes new measures for BEE improvement
South Africa’s BEE program is under scrutiny as critics argue that it has failed to address the country’s deep-rooted racial inequality.
Eni targets new resources in Libya’s Ghadames basin
The energy company believes there are significant undiscovered resources in the region and is also considering offshore exploration in the future.
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.
