The Global Minimum Tax Act which requires large multinational enterprises (MNEs) operating in the nation to pay a global minimum corporate tax rate of 15% was formally signed into law by South Africa in a…
The Trans-Saharan Gas-Pipeline project is now moving to…
According to the Algerian news agency APS, the Algerian, Nigerien, and Nigerian ministers of energy signed a memorandum of understanding (MoU) on Thursday for the building of a 4,400 km gas pipeline across the Sahara…
Africa gets $200 billion conservation fund
A $200 billion trust fund has been established for the preservation of the approximately 8,600 protected areas encompassing 26 million square kilometers in Africa. Conservationists have urged international aid for it. One of the numerous…
US-Africa Business Summit 2022: A success story
The 14th US-Africa Business Summit 2022, which was held in Marrakech, Morocco, from July 19 to 22, was a success, according to the Ministry of Industry and Trade. The summit's attendees had the chance to…
Biden will host an African leaders’ summit in…
The President of the United States, Joe Biden, made an announcement on Wednesday that the United States and African leaders will meet for a summit on December 13, 14, and 15. He used the word…
Italy seeks out Algeria for more gas supplies
The Italian Prime Minister, Mario Draghi, traveled to Algeria on Monday in order to sign a number of agreements, one of which was an energy deal to increase gas supply and lessen his country's reliance…
Piyush Goyal urges strengthening trade links with Africa
According to Minister of Commerce and Industry Piyush Goyal, there are four crucial areas where India can be a valued partner for African countries: solar energy, infrastructure, military cooperation, and the startup ecosystem. According to…
Africa must advertise its “blue economy”
One of the most underutilized resources for promoting economic growth and development in Africa is the "blue economy," which refers to the sustainable use of ocean and coastal resources to enhance livelihoods and jobs. Nevertheless,…
Nigeria’s Worst Inflation Rate Raises Pressure For More…
Nigeria’s inflation rate surged to a five-year high in June. The National Bureau of Statistics has disclosed in its Consumer Price Index June 2022 report. The worst inflation rate has raised pressure for more interest…
Africa is seeking funds from the business sector…
Climate finance projects are becoming an increasingly important resource for East African nations as they seek to improve the economic well-being of coastal communities, support biodiversity, and take climate-related action. A high-level political forum on…
As diesel prices rise, Nigerian businesses are turning…
Businesses in Africa's largest oil producer, Nigeria, are turning to solar enterprises for mini-grids and equipment as diesel prices have risen due to rising global oil prices. However, supply restrictions may hinder their capacity to…
Senegal Gets 121 Million-Euro Loan For Emergency Food…
The Board of Directors of the African Development Bank Group has approved a 121 million-Euro loan to Senegal, a country in West Africa, to implement an emergency agricultural program. The fund will help 850,000 small…
Zimbabwe Will Issue Gold Coins Amid High Inflation
Zimbabwe will begin to sell gold coins later this month to tame inflation, the country’s central bank announced this week. The inflation in Zimbabwe continues to send costs soaring for everything from fuel to groceries.…
For the first time in decades, Somalia has…
It has been decades since Somalia has been open to international business, but on Sunday, the government of Somalia made the announcement that it has awarded banking licenses to two foreign firms. The Somali Central…
Egypt Bulks Up Wheat Supplies With Biggest Purchase…
Egypt bulks up the most wheat in a tender with the biggest purchase in years amid the Russia-Ukraine war. Egypt is the world's largest wheat importer, and the supply is subject to price changes on…
Kenya Inks Deal With Saudi Arabia To Import…
Kenya has signed a memorandum of understanding (MoU) with Saudi Aramco, a Saudi Arabian Oil Company, to help import refined petroleum products at lower prices than the global rates amid high gas prices. The National…
Zimbabwe Plans To Hike The Interest Rate To…
Zimbabwe’s central bank plans to hike the interest rate, already the highest in the world, to 190% to control the soaring inflation. A member of the bank’s monetary policymaking committee (MPC) announced the news as…
UAE becomes the largest GCC investor in Africa
According to the report, which was based on a survey of 200 sub-Saharan African business executives, the UAE invested $1.2 billion in Sub-Saharan Africa during the previous five years, or 88% of all investments made…
Kenya Airways Signs Deal To Buy 40 Flying…
In the latest development, Kenya Airways has signed a deal with Eve Holding Inc to purchase 40 flying electric taxis. Kenya Airways will introduce these taxis through its subsidiary, Fahari Aviation. Brazilian company EVE UAM…
