Brazil surpasses EU as top destination for Chinese EV
This surge comes as Chinese carmakers face an EU anti-subsidy probe, leading them to explore new markets.
Kenya, US set for trade talks, strengthen business ties
The US and Kenya are intensifying trade relations through new business deals and dialogue aimed at enhancing economic ties, bolstered by pledges from both nations’ leaders and major tech investments.
Cobalt squeeze hits Managem, Morocco’s mining giant
Managem, Morocco’s top mining company, experiences a 13% revenue decline in Q1 2024 due to lower cobalt production.
Ghana inches closer to IMF bailout with draft debt agreement
Ghana is closer to resolving its debt crisis as it reviews a draft agreement with creditors for restructuring $5.4 billion.
Ghana’s fuel price resilience amidst cedi depreciation
Ghana’s fuel prices remain competitive despite currency challenges. Libya leads the African continent.
Ivory Coast tackles Fairtrade cocoa fraud
Ivory Coast’s regulator tackles fraud in fairtrade cocoa contracts, addressing recent certification surge.
Microsoft announces AI-enhanced tablets & laptops
Microsoft introduces a new Surface Pro tablet and Surface Laptop with advanced AI chips and Windows 11 integration, promising faster performance and enhanced creativity.
Morocco program aims to employ people with disabilities
The CIAT program offers training and support, creating a win-win situation for workers and the community.
Skies open up as Emirates resumes flights to Nigeria
The airline will resume passenger and cargo services starting October 1st.
Benin opens border for Niger’s oil exports
After months of halted trade, Benin agrees to allow Niger to export oil via the Seme port.
Morocco eyes future of EV
With a focus on speed, infrastructure, and attracting major carmakers, it’s become Africa’s top car exporter.
Egypt’s ambitious city project with $14B fuels development
Egypt’s development plans for Ras El-Hekma receive a significant boost with an additional $14 billion from the UAE.
Senegal halts coastal construction in Dakar for two months
The new government has halted construction in Dakar to investigate permits and prioritize public access to beaches.
Nigerians protest government’s electricity price hike
Nigerian labor unions protest skyrocketing electricity prices following government subsidy cuts.
DRC, EU look to boost transparency in mineral supply chain
The EU and DR Congo are working together to improve the traceability of the African nation’s minerals, despite tensions arising from a separate EU deal with Rwanda.
Netflix commits to amplifying African voices
Netflix is investing in African talent to create impactful stories that resonate globally, fostering local voices and cultures on screen.
Egypt’s foreign debt surges by $3.5 billion in three months
The central bank notes that 82.5% of the foreign debt is long term, amounting to 43% of the country’s GDP
Microsoft closes Nigeria development center in surprise move
Microsoft is restructuring its operations in Africa, with the closure of its development center in Lagos.
Italy’s Giorgia Meloni inks pacts with Libya leaders on visit
Deals include promoting university exchange programs and research in renewable energy.
Turkey, Algeria seal deal to increase flight frequency
Turkey and Algeria have agreed to significantly increase the number of weekly flights, offering more travel options and eliminating destination limitations.
Gold prices slide as US dollar strengthens, investors eye Fed
Gold prices slipped in early Asian trading on May 6th as the US dollar strengthened.
IMF: Senegal must control spending to meet deficit target
The IMF revised Senegal’s 2024 growth forecast down to 7.1% due to a slow first quarter caused by elections and gas production delays, but the new government remains committed to the IMF program.
DRC’s $7B infrastructure plan with China tied to copper prices
DRC’s $7 billion infrastructure deal with Chinese companies relies on copper prices staying high, as per the revised minerals agreement.
ExxonMobil revamps Mozambique LNG project
ExxonMobil eyes a late 2025 investment decision for its redesigned Rovuma LNG project in Mozambique.