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.
Nigeria’s first private refinery begins gasoline exports to Africa
Newly refined product to improve oil market in sub-Saharan Africa, says president of Dangote Refinery
Nigeria’s fuel crisis worsens, burdening struggling citizens
Fuel shortages in Nigeria are exacerbating the cost-of-living crisis, as the state-run oil company struggles to meet demand due to financial constraints.
Libyan crisis drags OPEC oil output to lowest since January
A discussion of the future outlook for OPEC’s oil production, considering the ongoing geopolitical tensions and the potential for further disruptions in supply.
Gulf allies come to Egypt’s rescue amid power shortages
To alleviate the situation, Saudi Arabia and Libya have provided financial assistance to help Egypt import gas.
Indonesia’s geothermal and pharma projects boost African ties
Indonesia is hosting the second Indonesia-Africa Forum in Bali, aiming to strengthen economic ties and sign business deals worth $3.5 billion.
African leaders in Beijing as China seeks to expand exports
China will push African nations at an upcoming summit to increase imports of its goods, especially green technologies, before Western export restrictions take effect.
Belt and Road to focus on HQ cooperation at China summit
China pledges to strengthen its Belt and Road initiative with high-quality cooperation, particularly in Africa, ahead of a summit with African leaders in Beijing.
Eastern Libya’s oil shutdown cuts national production by 63 pct
Libya’s oil production has plummeted due to a blockade imposed by eastern factions demanding the reinstatement of the central bank governor.
Low prices, EV rise push S African platinum industry to the brink
The future of South Africa’s platinum mining industry looks bleak as low prices and the growing popularity of electric vehicles are driving demand down.
Ghana’s mining sector recovers with new projects
Ghana’s mining industry is experiencing a resurgence as the country prepares to commission its first large-scale greenfield mine in over a decade.
Central Bank optimistic about South Africa’s economic future
South Africa’s central bank governor expresses optimism about the country’s economic future, citing recent progress in addressing the power crisis.
Egypt inflation slows, but central bank lending to govt surges
Egypt’s central bank has increased its lending to the government, fueling concerns about economic stability and inflation.
Limpopo frost wrecks potato crops, driving South Africa prices up
South African consumers are facing higher potato prices due to a supply crunch caused by a frost that damaged crops in the Limpopo region.
Ethiopia’s mega-dam doubles electricity production
The dam, a source of regional tensions, is now generating 1,550 megawatts of power.
Anti-graft unit exposes years of corruption in South Africa
The report by South Africa’s anti-graft unit reveals widespread corruption at top state-owned companies, totaling more than $7 billion in losses.