Africa Business News – Read economic news today, South Africa business updates, and latest economy trends and developments.
Senegal’s debt troubles just received another official stamp. The Senegal credit rating has been cut for a fifth straight time, with Moody’s downgrading the country’s foreign-currency ratings on Thursday. What the downgrade says Moody’s lowered Senegal’s foreign-currency senior unsecured and long-term issuer ratings to “Ca” from “Caa2”. It also changed the outlook to stable from […]
Good news is rare in energy headlines, but Dar es Salaam has some to share. The Tanzania gas discovery, announced this week, is the country’s first major find in a decade. An estimated 223 billion cubic feet was found at the Kasa-1X ST2 well in the Mnazi Bay area. Why this find matters Energy Minister […]
Good financial news is rare, so it is worth pausing on. Moody’s has called the South Africa budget update credit positive, a verdict that reaches well beyond the Treasury building in Pretoria. What Moody’s Is Saying The mid-term budget update arrived on 21 October, delivered by Finance Minister Enoch Godongwana. Moody’s South Africa watchers were […]
Crude took a breather on Monday. Oil prices eased from near six-month highs, though nobody in the market is relaxing. A Small Dip After a Big Week Prices had settled nearly $3 higher on Friday after Houthi attacks in Saudi Arabia raised supply fears, and Brent ended the week up 6%. By Monday morning, US […]
Every electric car, wind turbine and smartphone depends on metals that sit beneath African soil. Africa’s Critical Minerals, from cobalt and lithium to manganese and platinum group metals, have become some of the most contested resources on the planet. Yet the continent that holds so much of this wealth still earns only a small share […]
Senegal’s debt story has just taken another visible step. According to reports, Senegal bank creditors have chosen Houlihan Lokey as their financial adviser, a move that signals the lenders are organising themselves for the negotiations ahead. Who Is Sitting at the Table Reuters, citing four sources, reported on October 23 that the committee of bank […]
When a South African banking heavyweight takes control of one of East Africa’s best-known lenders, the whole continent notices. The NCBA Nedbank deal is among the most significant cross-border banking moves Africa has seen in years, and it says a lot about where money, ambition and opportunity are heading. What Actually Happened Nedbank announced in […]
A quiet vote in Benghazi has stirred up the Mediterranean. Greece rejects Libyan approval of the Turkey-Libya maritime deal, saying the 2019 memorandum has no legal effect after Libya’s eastern parliament endorsed it on Tuesday. The House of Representatives, which is aligned with commander Khalifa Haftar, voted unanimously, reversing years of opposition to the accord. […]
Currency traders spent Tuesday looking for a reason to pick a side, and mostly did not find one. The dollar euro yen exchange rates barely moved in early Asian trade, even as a modest recovery in confidence helped higher-yielding currencies. The US dollar was flat at 158.56 yen, and the euro held near $1.12. Europe’s […]
Anyone who has queued at a petrol station lately will understand why energy markets matter. Brent crude oil prices climbed to $110.70 a barrel in the previous session, the highest since 20 May, before easing slightly on Tuesday. Brent was down 0.45% at $109.06 early in the day, while US crude for November delivery was […]
Many families across Africa already count every coin at the market, and the next round of price pressure is not far off. Global food inflation is expected to intensify as supply shocks pile up, and forecasters say the squeeze could last well into 2027. The numbers behind the warning JPMorgan economists expect the global food […]
While much of the world frets over wars and trade tensions, one East African economy is quietly holding its nerve. The latest Tanzania GDP growth forecast from the International Monetary Fund points to growth of 6.0% in 2026 and 5.9% in 2027. The projections come from the October World Economic Outlook, titled “Resilience Under Strain, […]
Every naira, shilling and cedi spent at the pump is tied to decisions made thousands of kilometres away. Oil prices retreat on Thursday as investors weigh the oil supply outlook against fresh Middle East tensions, and African drivers, traders and finance ministers are watching closely. Brent crude slipped more than $1 in early trade to […]
Markets across Asia took a beating on Tuesday. Asian stocks AI jitters spread quickly as investors questioned how long the artificial intelligence boom can keep powering profits, with a widening Middle East conflict adding to the gloom just before US bank earnings. What happened MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2.4% to […]
Morocco has a new political map, and a woman is drawing it. The Morocco coalition government announced on Monday brings together four parties under the centrist Authenticity and Modernity Party (PAM), which topped the 23 September vote. King Mohammed VI has already named PAM leader Fatima Ezzahra El Mansouri as the country’s first woman to […]
Investors opened the week with sweaty palms. Asian share markets started cautiously on Monday, held back by oil swings and a looming wave of company results that could test sky-high technology valuations. Why the mood is cautious Trade was thin, with Japan’s markets shut and the US on a partial holiday, ahead of earnings season […]
Seoul has just rolled out the red carpet for the Nile. On Thursday, the South Korea Egypt strategic partnership 2026 became official, as President Lee Jae Myung said the two countries had upgraded their ties during a summit with President Abdel Fattah el-Sisi in Seoul. What was actually agreed Lee announced that formal talks on […]
From health diagnostics in Nairobi to smart farming tools in Accra, artificial intelligence is already part of everyday work across the continent. Whatever shape the Africa AI innovation and technology development future takes, it will be settled by decisions made in the next few years, not the next few decades. The Carnegie Endowment for International […]
Fuel prices have a way of finding every household, from Lagos to Lusaka. The message from London is blunt: global oil stockpile buffer nearly depleted amid supply concerns, and the market has little left to fall back on. Executives made the warning at the Energy Intelligence Forum this week. How Thin Is the Cushion? Saudi […]
