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.

Kenya and EU seal landmark trade pact

The signing ceremony in Nairobi witnessed the presence of Kenyan President William Ruto and EU Commission Chief Ursula Von Der Leyen

Egyptian exports to Africa surges, reaching $6B

Forget oil, Egypt’s new export heroes are marble, cement, and chemicals! Trade with Africa surges 13%, hitting $6 billion in just 10 months.

Kenya secures 2,500 jobs in Saudi Arabia, confirms President Ruto

The announcement closely follows Kenya’s recent commitment to dispatch 1,500 workers to Israel

North African nations eye alternatives to US currency

North Africa’s de-dollarization move is not just about currency; it reflects a broader shift in geopolitical and economic alliances in the region.

IMF, IDA approve a $4.5 billion debt relief for Somalia

‘This is a testament to Somalia’s unwavering commitment to economic reforms,’ says IMF managing director

Tanzania, Burundi and DRC secure $696M backing for rail network project

The African Development Bank (AfDB) has approved $696 million in financing for a rail project that will connect Tanzania, Burundi, and the Democratic Republic of Congo.

US welcomes ‘record’ year in trade with Africa

This surge in trade initiatives aims to counterbalance China’s escalating influence across the continent

Opposition raises concerns over Russia ties in S Africa’s nuclear plans

South Africa’s energy future depends heavily on its nuclear plans, but the controversy surrounding Russia’s role creates uncertainty and potential risks.

South Africa announces plans for new nuclear plants amid energy crisis

South Africa has grappled with extensive power cuts lasting up to 12 hours a day over the past 15 years

Blueprint for South Africa’s future energy mix gets cabinet nod

South Africa’s Cabinet has approved an updated energy blueprint that sets out a long-term plan for the country’s energy future.

Egypt’s headline inflation eases to 34.6% in November

The decrease was primarily attributed to a slowdown in the pace of food price escalations

Nigeria’s biggest: Dangote refinery aims to end reliance on oil imports

The Dangote Refinery represents a major step towards energy independence and growth.

Algeria supports oil production cuts extension

Energy Minister Mohamed Arkab stated in a Wednesday announcement that the alliance’s actions are aimed at stabilizing the global oil market by aligning it with “intrinsic fundamentals” rather than leaving it vulnerable to “irrational fluctuations of speculators.”

India extends $250 million credit line to Kenya

Kenyan President William Samoei Ruto holds talks with Indian Prime Minister Narendra Modi in New Delhi

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