Q3 GDP Growth Slips to 0.5% as South Africa’s Economy Slows Further: Africa newsroom update. Markets opened to a softer print as South Africa Q3 GDP edged up 0.5%. The headline says it cleanly. South Africa economic growth cooled, and the South Africa economy’s slow tag felt accurate on trading floors. Cool morning air in […]
The recent Foreign investment news in Congo showcases a recent surge of foreign investment in the mining, energy, and infrastructure sector. The Democratic Republic of Congo (DRC) has remained one of the key global supply chains as the world demands more and more cobalt, copper, and lithium. The increasing confidence of investors in the economic […]
Rabat has successfully concluded three loan agreements totaling 250 million euros and two grant contracts worth 7 million euros with the German Development Bank. The funds are earmarked for initiatives in social protection, sustainable mobility, and irrigation. The first subsidized loan, amounting to 120 million euros with an accompanying 2 million euros donation, is dedicated […]
In a groundbreaking move, Riverside LNG, a Nigerian energy company, has unveiled plans to supply gas to South Africa, marking the initiation of a historic collaboration between the two nations. The announcement follows Riverside LNG’s earlier agreement with Johannes Schuetze Energy Import AG of Germany for gas exports. CEO David Ige revealed the company’s exploration […]
In a digital era where technological landscapes constantly evolve, Africa stands out as a testament to resilience and growth in the smartphone market. A recent study conducted by the esteemed global research firm Canalys paints an optimistic picture, revealing that Africa’s smartphone market witnessed an impressive 12% year-on-year growth in shipments, totaling a substantial 17.9 […]
Shell International Trading and Shipping Company Limited (STASCO) has delivered an additional 1 million barrels of crude oil to the Dangote Oil Refining Company in Nigeria. This follows a previous shipment of one million barrels from NNPCL just two weeks ago. The latest delivery, which reached the facility’s Single-Point Mooring (SPM), brings the total crude […]
TotalEnergies, a French multinational integrated energy and petroleum company, has pledged $6 billion for oil and gas facilities in Nigeria, a country in West Africa. The French company reaffirmed its commitment to business interests in Nigeria. Patrick Pouyanne, the chairman and CEO of TotalEnergies, and Nigerian President Bola Tinubu met in Abuja, the capital of […]
Kenya, a country in East Africa, and the European Union (EU), a supranational political and economic union of 27 member states, have signed an Economic Partnership Agreement that aims to boost trade. The economic agreement will grant Kenya’s exports duty-free status and unlimited access to the EU bloc. Kenya and the European Union had initiated […]
Africa, amidst its challenges, stands resilient as one of the fastest-growing emerging economies globally. The prospects for 2024 are particularly promising, with various countries, including Nigeria, South Africa, and Egypt, offering unique business opportunities and investment potential. In this article, we delve into the insights provided by Activator HQ’s report on Africa’s Top 100 Opportunities […]
In the complex landscape of global finance, African countries grapple with unique socio-economic challenges that significantly impact their journey toward sustainable development. One crucial aspect intertwined with economic stability is the management of external debt, especially in dealings with international financial institutions such as the International Monetary Fund (IMF). In this exploration, we delve into […]
Africa is no stranger to political and economic instability, something that has been the root cause of extreme poverty on the continent. But African countries have a huge potential to improve their economy despite appalling economic conditions. The region is rich in natural resources having arable land, water, wildlife, forest, minerals, oil and natural gas. […]
Masdar, a United Arab Emirates state-owned renewable energy company, has announced a 10GW growth plan for the African continent, which is set to unlock energy transition in six Sub-Saharan nations. Abu Dhabi Future Energy Company PJSC – Masdar aims to provide support to the clean energy transition across the African continent. The 10GW growth plan […]
Kenya could get a $1 billion loan from the People’s Republic of China, which can be used to partly settle a Eurobond that is maturing next June, the governor of the central bank said on Wednesday. The loan was first announced in October. Kenya’s President William Ruto asked China for a $1 billion loan, his […]
As the global call for net zero intensifies, the Africa Finance Corporation (AFC) emerges as a pivotal player in shaping Africa’s unique journey towards sustainability. President and CEO Samaila Zubairu emphasizes the need for a tailored negotiating stance, considering Africa’s distinctive experience – contributing less than 4% of global greenhouse gas emissions while grappling with […]
Impala Platinum, a South African holding company, has temporarily halted operations at its Rustenburg mining complex in the country after 11 workers died in a tragic accident. The Johannesburg-based platinum miner said in a statement that 11 workers died in an incident at one of underground shafts in Rustenburg mining complex. Around 75 workers were […]
In an effort to help Africa benefit more from its wealth of raw materials and support Europe’s largest economy in its own transition to carbon neutrality, the German government on Monday pledged to invest $4.37 billion in African green energy projects until 2030. Germany will need to import large quantities of green hydrogen going forward […]
Unauthorised access remains a major risk for anyone who uses a computer or high-tech devices such as tablets or smartphones. The consequences for victims could include the loss of bank account information, money or even identity theft. Such break-ins could also result in loss of valuable presentations, emails and music. Moreover, unauthorised users may even […]
Zambia’s official creditors co-led by People’s Republic of China and France rejected a revised agreement that the government reached with bondholders because it did not comply with “Comparability of Treatment,” leading to deadlock in the restructuring of $3 billion of outstanding eurobonds. In October, Zambia reached a deal for relief on nearly $4 billion owed […]
Gross Domestic Product (GDP) projections are essential to define the economic strategies and policies of governments across the globe. They offer a reliable insight into a region’s overall development trajectory, growth potential and economic health. The first half of 2023 saw more robust growth than expected in April. Although the global average prediction has mostly […]
In Nigeria, food, transport and commodity prices have been forced higher by a fall in naira, the local currency – which has triggered a spike in foreign exchange rates and driven up inflation. But Nigeria is not alone. Most currencies in Sub-Saharan Africa are getting weaker against other global trading currencies like the US dollar […]