Bitcoin nears all-time high after ETF approval
Bitcoin’s price reached $60,000, close to its all-time high, fueled by the approval of new crypto-linked investment products and anticipation of a future supply reduction event.
Workers walk off in Nigeria as economic pain worsens
Unions and workers protest in Nigeria as inflation spirals and living standards plummet.
ENI project makes Congo newest LNG exporter
Congo ships its first ever LNG cargo, marking a new chapter in its energy journey and offering Europe hope for energy security.
Niger-Benin trade corridor remains blocked despite lifted sanctions
The ECOWAS lifted sanctions on Niger, but the Niger-Benin border persists in being closed, causing uncertainty in the region.
Oil crisis averted in Libya as salaries increase
Libya raises PFG salaries to avert oil shutdown, ensuring stable oil production.
Surging cocoa costs raise concerns of global chocolate shortages
‘It’s upsetting considering we haven’t witnessed such a significant decrease in cocoa output in recent years,’ president of Ghana cocoa buyers group tells Anadolu
Egypt secures $35b lifeline as UAE investment aids currency, debt
Facing a currency crisis, Egypt secures a $35 billion deal with the UAE, promising debt relief, tourism growth, and infrastructure projects.
Lagos unveils relief, transport discounts as Nigeria inflation soars
Facing economic crisis, Lagos Governor unveils relief measures to ease cost of living. Public transport discounts, pregnant women fee exemption offered.
S Africa juggles debt, poverty with tax hikes, grants
Tax hikes and increased social spending in South Africa’s election budget aim to address poverty and debt, raising questions about effectiveness.
Turkey, Djibouti ink military deals, ties soar
Strategic partnership deepens as countries sign agreements for military cooperation and assistance.
Amplats cuts South African jobs as PGM prices crater
Anglo American Platinum, the world’s leading platinum producer, plans to cut 3,700 jobs in South Africa due to falling platinum prices
Nigerians protest hunger, hardship as food prices skyrocket
Southern Nigeria joins nationwide protests as economic crisis worsens, with Tinubu facing calls to resign over rising food costs and inflation.
Kenya repurchases over $1.4B in maturing international bonds
Kenya retires $1.4 billion of maturing international bonds, showcasing a resilient financial stance.
Dangote refinery in Nigeria readies initial fuel exports
The refinery, boasting a capacity of 650,000 barrels per day
Nigeria proposes commodity board to control surging food prices
The move comes in response to the surge in food costs, contributing to double-digit inflation
Israel’s Gaza war, Red Sea crisis threaten global economy — IMF, WB
IMF and World Bank caution that the Gaza war and related Red Sea attacks threaten the global economy, especially if the conflict prolongs, impacting the world business.
Germany signs Algerian gas deal for first time, replacing Russia
VNG breaks new ground with Algeria gas agreement, marking a significant step for Germany’s energy security.
Kenya gets $500M Samurai bond from Japanese insurer
President Ruto’s Japan visit yields a historic $500M Samurai bond agreement, marking a strategic move to strengthen Kenya’s financial position.
African Development Bank commits $540M for agriculture in Nigeria
AfDB to allocate funds for special agro-industrial processing zones in 7 Nigerian states, aiming for economic transformation of rural areas
Nigeria eyes World Bank support for economic turnaround
Nigeria’s leaders engage in crucial discussions with World Bank executives, addressing economic challenges and seeking vital support.
Egypt’s net foreign asset deficit soars
Economic woes deepen in Egypt as the net foreign asset deficit hits an unprecedented 841 billion pounds.
Nigeria’s $500M central bank boost targets FX demand relief
Navigate economic challenges as Nigeria’s Central Bank injects $500 million, aiming to alleviate forex backlog pressures.
Chinese pledge $7 billion investment in Congo mining infrastructure
The deal involves Chinese investors injecting up to $7 billion into infrastructure projects
Egypt aims to strengthen ties with other BRICS nations
The country expresses its intention to strengthen cooperation with the BRICS bloc and the New Development Bank (NDB)