A new concept car from Caterpillar Inc. has drawn interest from tech and construction enthusiasts all over the world in recent months. The company is famous for making some of the toughest construction tools. They just showed off a smart pickup truck concept that is perfect for tough industrial job sites. The concept car has […]
Claude Kameni is a fashion designer from Cameroon who makes expensive clothes that are inspired by African culture. She hasn’t released a “2026 collection” yet, but she has been working on a prom couture raffle that was announced in early 2026. The winners will be chosen by February 7. These unique items are made for […]
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 […]
Kenya, a country in East Africa, and the International Monetary Fund (IMF), a major financial agency of the United Nations, have reached a staff-level agreement, unlocking $938 million in transfer. The agreement has boosted the current lending programme by $938 million before a eurobond repayment due in June. Haimanot Teferra, the International Monetary Fund (IMF) […]
The platinum miners in Zimbabwe, a landlocked country in southern Africa, have urged the government to delay its planned 5% export tax on concentrates until 2025. According to a proposal submitted by the Chamber of Mines of Zimbabwe to the finance ministry of the country, leading Zimbabwe platinum miners have asked the government to delay […]
Africa’s geothermal power capacity is set to more than double in the next 7 years, according to Rystad Energy, with the consulting firm expecting the figure to reach 13 GW by 2050, up from just about 1 GW today. It appears Africa’s geothermal industry is set to overtake Europe’s. Generating electricity from geothermal resources involves […]
Impala Platinum Holdings Limited, a South African holding company that owns several companies, has started offering voluntary job cuts to its workers at some of the world’s deepest platinum mining shafts in the country. Impala Platinum started the process of job cuts at its head office last month. The company was also offering exit packages […]
In a social media post, World Mobile has announced the launch of its first aerostat in Massingir, Mozambique, following regulatory hurdles encountered in Tanzania. Chief Executive Officer Micky Watkins said World Mobile had initially planned to launch the first aerostat in Zanzibar, Tanzania. The network provider waited for an approval for 11 months. But the […]
In a significant step toward bolstering economic partnerships with Africa, U.S. Trade Representative Katherine Tai has announced ambitious plans to reinvigorate the African Growth and Opportunity Act (AGOA). This two-decade-old duty-free initiative, set to expire in September 2025, is undergoing a much-anticipated makeover that aims to enhance its effectiveness and utility. AGOA has been instrumental […]
According to the International Trade Centre, the local production of infant foods in Africa is no less than an underexploited opportunity. The continent imports an estimated $607 million of baby food a year, with the figure expected to cross $1.17 billion by 2026. Africans heftily rely on infant food imports despite an abundance of locally […]
Lagos state in southwestern Nigeria has secured a partnership with African Export-Import Bank or Afrexim and Access Bank for an investment of $1.35 billion for infrastructure projects. Babajide Sanwo-Olu, the Governor of Lagos, confirmed that the state got a $1.35 billion deal from Afrexim and Access. Under investments for infrastructure projects, a bridge project and […]
Africa is becoming an attractive destination for investors and venture capitalists across the globe. The region boasts huge potential to become a notable player in key sectors such as technology, automobile, healthcare, renewable and telecommunication. With 60% of the continent’s population under the age of 25, the African economy has a long way to go. […]
Olaf Scholz, Chancellor of Germany, has said that his country is willing to invest in gas and minerals in Nigeria, an African country on the Gulf of Guinea. The investment is aimed at strengthening bilateral relations between Germany and Africa’s largest economy. Olaf Scholz started his trip to Nigeria, Africa’s largest oil producer, on Sunday. […]
Jack Ma, the visionary founder of Alibaba Group, was inspired by the entrepreneurial spirit he encountered during his first trip to Africa in 2017. This led to the creation of the ABH programme, a commitment to identify and elevate African entrepreneurs who are making a tangible difference in their communities. The philanthropic programme aims to […]
Nigeria, a country in West Africa, is set to cut the number of taxes levied by federal and state governments from 62 to fewer than 10. The Nigerian federal government, through the Presidential Committee on Fiscal Policy and Tax Reforms, has confirmed the plan, which is aimed at boosting revenues and helping Nigerians to conduct […]