South Africa’s central bank maintains its hawkish stance, keeping the lending rate at 8.25 pct for the third consecutive meeting.

The agreement spans a duration of four years but does not outline specific timelines for the construction process

Agreement to support financing for trade competitiveness among bloc’s 21 member states

The Atlantic Council underscores the need for a fresh perspective, asserting that Africa’s burgeoning population, youthful demographics, abundant natural resources, and strategic geographical location position it as a key player in revitalizing the world economy. According to their recent report, focusing on Africa is imperative for global economic resurgence, highlighting its potential to be at the center of transformative growth.

Zambia’s efforts to restructure its debt have been dealt a major blow as official creditors have rejected a revised deal to rework $3 billion of Eurobonds. The country’s official creditor committee (OCC), which includes China, Japan, and the Paris Club of creditor nations, said that the deal did not offer comparable relief to both commercial and official creditors.

The German government has pledged to invest 4 billion euros ($4.37 billion) in African green energy projects until 2030.

Transnet expects to clear the backlog of 63 ships at the Port of Durban in 7 to 15 weeks. The delay is causing concern among importers, who fear they will miss the crucial Christmas shopping season.

Chancellor Scholz says Africa’s developing countries have great potential for renewable energy, green hydrogen production

In the full-year ending on Sept. 30, Astral disclosed a 621 million rand operating loss

The International Monetary Fund (IMF) is considering a mega loan program to help Gaza recover from the economic fallout of the recent war. The war has caused widespread damage to Gaza’s infrastructure and economy, and the IMF’s loan would help to rebuild and revitalize the Gaza economy.

Nigeria’s government meets with Seplat Energy to resolve a two-year stalemate over ExxonMobil’s $1.3 billion oil asset sale.

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The main export route from South Africa to Mozambique, crucial for coal and chrome, was shut down due to clashes between truck drivers and minibus taxi operators near the border. Truck drivers allegedly set fire to taxi patrol vehicles.

Fitch Ratings downgrades Cameroon’s outlook to negative, citing heightened liquidity pressures from increased spending needs and challenging domestic and external market financing conditions.

South Africa will need to invest heavily in renewable energy sources like wind and solar power to transition away from coal, according to a BloombergNEF study.

Senegal and Ghana have applied to join the European Bank for Reconstruction and Development, marking the bank’s continued expansion into sub-Saharan Africa.

The energy group stated its readiness to collaborate with the Nigerian government in exploring the essential procedures for converting the license from prospecting to mining

Next year, Kenya is also facing a $2-billion eurobond repayment obligation

According to data from the National Bureau of Statistics, consumer inflation surged to 27.33% year on year in October from 26.72% in September

The Competition Commission reported that Standard Chartered (SCB) acknowledged its liability in the matter and consented to pay a fine of nearly 43 million rand ($2.3 million)

Tinubu met with IsDB Vice President Mansur Muhtar in Mecca, Saudi Arabia, on Monday night

During the period between July and September, the unemployment rate stood at 31.9 percent of the workforce, down from 32.6 percent in the previous quarter

ECOWAS has enforced stringent economic and financial sanctions against the junta, which involve terminating its access to the state’s accounts held in the regional central bank

In Riyadh, Tinubu’s office stated that he aimed to guarantee the safety of investments for all prospective Saudi investors in Nigeria

Cocobod plans to borrow $1.2 billion for this season, of which $800 million will come from a syndicate of lenders and $400 million from other sources