EU probes Microsoft-OpenAI partnership
EU investigates Microsoft’s OpenAI deal, fearing dominance in AI field.
IMF greenlights $60.7 million disbursement to Mozambique
According to the IMF, Mozambique’s program performance has been satisfactory
5,000 Swiss troops ready for Davos economic forum security
Swiss military readies 5,000 troops to safeguard Davos during the annual WEF event.
Nigeria central bank settles nearly $2 billion of FX backlog
The country, boasting Africa’s largest economy, grapples with approximately $7 billion in matured forex forwards, a significant concern for investors
Libya’s NOC enacts force majeure at Sharara Oilfield
Negotiations are underway to swiftly resume production, NOC has reported
OPEC oil output inches up as Angola exits body, new cuts
December sees a slight uptick in OPEC’s oil output, marked by increases from Iraq, Angola, and Nigeria.
Niger seeks revenue from international calls after coup sanctions
Niger government seeks revenue from incoming calls to boost struggling economy.
TotalEnergies hires former Benin PM to review land purchases in Africa
Following lawsuits alleging environmental and social harms, TotalEnergies hires former Benin PM to assess land acquisition practices for Uganda oil and EACOP pipeline projects.
BYD overtakes Tesla as world’s top electric vehicle maker
BYD has surpassed Tesla as the world’s top electric vehicle maker, marking a significant shift in the global EV market.
Rising fuel costs loom as Cameroon addresses subsidy burden
Cameroon’s fuel subsidy dilemma highlights challenges of balancing economic priorities.
UAE wraps up trade negotiations with Republic of Congo
The United Arab Emirates (UAE) has finalized negotiations for a bilateral trade agreement with the Republic of Congo.
Maersk plans transit of multiple vessels through Suez Canal
Maersk disclosed on December 24 its intentions to reinitiate Red Sea routes for both eastbound and westbound journeys
Post-brexit UK eyes Morocco, “gateway to Africa” for trade boom
Morocco seeks post-Brexit trade, security deal with UK, calling itself “gateway to Africa.” Tomatoes, cars and renewable energy on the table.
Ethiopia joins Africa’s debt default list
East Africa’s giant, Ethiopia, officially defaults, highlighting the impact of COVID and conflict on African economies.
Nigeria to reclaim banks misappropriated by ex-CBN governor
Nigeria seizes 2 banks allegedly bought by ex-Central Bank Governor Emefiele with “ill-gotten wealth.” Charges of fraud, corruption against him also ongoing.
Maersk set to resume operations in the Red Sea
Shipping giant to resume transit through crucial waterway after multinational security initiative announced against Houthis
Oil tankers opting to bypass Red Sea route, preferring alternate paths
Amid escalating tensions in the Red Sea, vessel tracking data has revealed a significant shift in global shipping routes
Nigeria embraces regulation, lifts ban on crypto transactions
Crypto transactions resume in Nigeria under a new regulatory framework designed to mitigate risks.
Nigeria’s Central Bank reverses ban, allows crypto trading
The newly issued guidelines outline specific directives for banks and financial institutions regarding the opening of accounts, providing designated settlement accounts and services
Zambia gets $187M IMF loan as bond restructuring stumbles
IMF backs Zambia but warns delay in revamped debt deal hampers economic rebound.
Angola to exit OPEC due to production quotas dispute
Diamantino Azevedo, Angola’s Mineral Resources and Petroleum minister, expressed that the decision to depart from OPEC was a carefully considered one
South Africa mine protest ends after three days underground
Bafokeng mine strike resolved, but tensions remain in South Africa’s mining sector.
Ghana’s industry decline hinders growth
Ghana economic slowdown, industry struggles, debt restructuring needed.
Kalahari Corridor: Investors swarm Botswana’s rail link to Atlantic Oce...
Investors flock to Botswana’s Namibian port rail project, eyeing faster trade and bypassing South Africa’s delays.