Ethiopia gets more time to repay debt but avoids any write-down
Official creditors granted Ethiopia more time to pay its debt, agreeing on extended terms without reducing the principal amount.
South Africa avoids retaliation and seeks US tariff exemptions
Trump’s 31% tariff on South African goods prompts the country to pursue negotiations instead of imposing reciprocal trade measures.
US tariffs spark South Africa’s call to reform global trade rules
South Africa demands WTO reform after US tariffs threaten trade, jobs, and agreements like AGOA, urging a fair and transparent global system.
Africa’s digital push grows as Raxio expands data centre reach
The World Bank’s IFC is investing $100 million in Raxio to expand Africa’s data centre capacity, addressing growing digital demand and infrastructure shortages.
US envoy meets Tshisekedi as crisis deepens in eastern DR Congo
DR Congo’s president met with Trump’s Africa advisor to discuss mining, security, and investment as conflict continues in the country’s mineral-rich east.
US-Africa trade deal faces uncertainty with new Trump tariffs
Trump’s latest tariffs on imports could end the US-Africa trade deal AGOA, disrupting exports and economic growth in key African industries.
Trump signs order imposing new tariffs on nations worldwide
Trump imposes global tariffs to strengthen the US economy but markets react with sharp declines amid fears of rising costs and trade tensions.
Jameel Motors brings Changan to South Africa
Saudi’s Jameel Motors will distribute Changan and Deepal cars in South Africa, with models like the Deepal S07, CS75 Pro, Hunter and Alsvin sedan.
S Africa limits Eskom’s air quality rule exemptions
South Africa grants Eskom limited emissions exemptions but requires stricter monitoring, health services, and environmental measures to reduce harm.
Uganda signs agreement with UAE firm for major oil refinery
Uganda and UAE investors have signed multiple agreements, including a major oil refinery deal with Alpha MBM Investments for a 60% stake.
Elon Musk says xAI startup is acquiring X platform for $33 billion
xAI, founded by Elon Musk, is buying the X platform for $33 billionn in a move to merge advanced AI capabilities with the social networking giant.
Wall Street tumbles as investors brace for new US tariffs
US stocks plunged as investors worried about new tariffs and inflation data showing rising prices adding pressure to Wall Street and economic growth.
Kenya requests fresh IMF programme, denies falling out
Kenya seeks a new IMF loan programme, clarifying there are no disagreements with the Fund despite halted reviews.
DR Congo may extend cobalt export ban as prices continue to rise
Congo may extend its cobalt export ban beyond four months as officials assess its impact on global prices and market stability.
Ethiopia reaches agreement to restructure $8.4 billion in debt
Ethiopia reached an $8.4 billion debt restructuring agreement under the G20 framework, easing financial pressure as it works toward economic recovery.
Ethiopian workers to pay new tax after USAID funding freeze
Ethiopia has introduced a new tax to replace USAID funding, affecting workers and businesses as the country seeks to sustain development and humanitarian projects.
Detention of Istanbul mayor shadows Turkey’s market gains
The detention of Turkey’s political rival Ekrem Imamoglu has caused a significant setback in the country’s economic recovery, affecting currency and market stability.
Dangote refinery temporarily stops naira-based fuel sales
Nigeria’s Dangote refinery has temporarily stopped selling fuel in naira due to a stalled naira-for-crude deal with NNPC.
Nigerian oil consortium probes Trans Niger pipeline explosion
The Trans Niger Pipeline (TNP), a critical export route with a capacity of 450,000 barrels per day
Kenya seeks new IMF deal after scrapping latest review
The decision, announced at the end of an IMF mission visit to Nairobi, comes as the East African nation struggles with mounting debt servicing costs following years of heavy government borrowing
Talks between Capricorn and Egypt advance on gas concessions
Capricorn Energy is in advanced talks with Egypt’s state-owned petroleum company to amend gas concession agreements, aiming to increase investment and production.
South Africa’s budget may be revised amid political standoff
The budget has become a major test for the fragile coalition government formed after the ANC lost its parliamentary majority last year for the first time since the end of apartheid
IMF says Egypt plans fuel subsidy cuts
Egypt is committed to eliminating fuel subsidies and reaching cost recovery levels by December 2025, as stated by the IMF, to address its current account deficit.
IMF completes fourth review and releases $1.2 billion to Egypt
The IMF has approved a $1.2 billion disbursement for Egypt after completing its latest economic review.