Economy

Rwanda and the European Union have concluded a financing agreement of 40 million euros, which is about 46.2 million dollars, to modernize Rwandan agriculture. The arrangement aims to enhance the sector’s resilience to climate-related shocks and promote more inclusive participation in its development. The funding was signed by the Rwandan government and the European Union […]

The Moody’s agency upgraded Benin’s long-term sovereign rating from “B1” to “Ba3,” according to a statement from the Beninese presidency published on Friday, August 7, 2026. This one-notch improvement follows several years of sustained growth and budgetary consolidation. The outlook associated with the new rating is “stable.” Benin is improving its financial rating with Moody’s. […]

Competition is intensifying in the maritime freight market along the East African coast, where major shipowners are looking to consolidate their presence in key transit corridors. Established in Mombasa for nine years, the German company Hapag-Lloyd aims to expand its services in the region. Hapag-Lloyd intends to strengthen its operations on the eastern seaboard of […]

Four years after the 2022 debt crisis, Ghana has seen the International Monetary Fund (IMF) classify its debt risk as “moderate.” However, the institution warns the authorities against fuel subsidies, whose costs could again weaken public finances. According to the IMF’s latest assessment, Ghana has improved its debt risk profile. This development comes after the […]

The Kenyan subsidiary of Standard Bank Group aims to increase its network from 40 to about 80 branches by 2029. This expansion mainly targets individuals and small businesses, as part of a strategy designed to strengthen retail deposits. Stanbic Bank Kenya plans to double the number of its branches in the country over the coming […]

Ethiopia is seeking the support of both Russia and the United States in establishing its regulatory framework for civil nuclear energy. This initiative comes as major powers engage in an increasing competition to develop their nuclear cooperation worldwide, particularly in Africa. The Ethiopian Technology Authority organized a consultation forum on Tuesday, August 4, in Addis […]

Nigeria, the leading African producer of crude oil, is increasing its investments in refining to reduce its reliance on imports of petroleum products, a sector official announced Tuesday in Lagos. The country has been exporting its crude for six decades while largely importing the fuels needed for its domestic consumption. This situation forces Nigeria to […]

Zimbabwe aims to increase its national grain storage capacity to 1.5 million metric tons by 2030. This goal is part of a strategy to strengthen the country’s food security and better absorb the effects of climate variability. The announcement was made on Tuesday, August 4, by the Zimbabwean Ministry of Information. The government intends to […]

The Nigerian tax authority published rules on Monday, August 3, governing the taxation of virtual assets, bringing an end to a period of uncertainty for investors and operators in the sector. Transactions involving cryptocurrencies, their resale, mining, and the fees collected by platforms are now included in the tax framework. This clarification comes after the […]

The race to succeed António Guterres as the head of the United Nations is still open, but the first indicative vote by the Security Council has already outlined a preliminary hierarchy among the candidates. The next UN Secretary-General is to be appointed in October, following a series of consultations aimed at gauging the balance of […]

In Guinea, Colonel Bienvenu Lamah has been promoted to Brigadier General by a presidential decree signed on Monday, August 3, just a few days after his acquittal in the trial for the massacre of September 28, 2009. This promotion comes as the civil parties have appealed the decision made in the first instance, which could […]

A public awareness campaign against the trafficking of protected species is being conducted at the international airports of Douala and Yaoundé, initiated by the NGO WildAid. Messages displayed on digital screens engage travelers, while customs and agents from the Ministry of Forests and Wildlife enhance inspections. At the Yaoundé-Nsimalen international airport, vigilance particularly focuses on […]

The city of Casablanca has entrusted a consortium that includes Nareva, Kanadevia Inova, and I-Environment Investments with the task of constructing a large waste treatment and recovery center in Médiouna. The facility is expected to process around 4,000 tons of household waste per day and produce electricity from non-recyclable waste. Casablanca aims to transform part […]

Dangote Petroleum Refinery & Petrochemicals is preparing for an introduction on the Nigerian Exchange with the goal of raising about $5 billion. The operation could be completed in October 2026, following the publication of a prospectus expected in September, pending approval from the Securities and Exchange Commission of Nigeria. The Dangote refinery could conduct one […]

The National Economic Council of Nigeria approved, on Tuesday, August 4, 2026, the refinancing of Project Gazelle, an important financing mechanism backed by future crude oil sales. The operation is intended to reorganize the repayment conditions of this debt, without specifying its amount, duration, or the new volumes of crude oil involved. Nigeria has initiated […]

Côte d’Ivoire and Botswana have signed a cooperation agreement in the mining and energy sectors. The partnership is intended to promote the sharing of experiences in governance of natural resources, skills development, and local processing of minerals. Côte d’Ivoire wants to leverage Botswana’s experience to accelerate the development of its extractive industry. The two countries […]

The ECOWAS Investment and Development Bank and Coris Holding have signed a financing agreement of 80 million euros, which is approximately 52.5 billion CFA francs. This line of credit is intended to strengthen the funding capacity of the banking group, particularly for small and medium-sized enterprises in West Africa. The ECOWAS Investment and Development Bank […]

Ghana’s President John Dramani Mahama has asked the Ministry of Energy to consider amending the rules that require local refineries to pay for crude oil produced in the country in dollars. The aim is to reduce their exposure to exchange rate risk and the pressure on national foreign exchange reserves. Ghana is looking to review […]