Economy

In a significant move amplifying Africa’s energy sector, the African Export-Import Bank (Afreximbank) has forged a $75 million development agreement with Torxen Energy Resources. The landmark deal, earmarked for Petroleum …

Kenya is one of Africa’s most dynamic and promising economies, but it still faces a major challenge: reducing its dependence on imported goods and services. According to a recent report …

President Joe Biden is set to visit Israel and Jordan on Wednesday, as he seeks to ease the humanitarian situation in Gaza and broker a cease-fire between Israel and Hamas. …

South Africa is poised to reclaim its position as the continent’s biggest economy next year, according to the latest forecasts by the International Monetary Fund (IMF). The IMF’s World Economic …

Liberia’s presidential election heads toward a thrilling run-off, early results suggested on Monday. Incumbent President George Weah and rival Joseph Boakai are locked in a tight battle, with neither securing …

OK Zimbabwe Limited, a prominent supermarket chain, has praised government-led stability measures following a robust 33.3% surge in its revenue amid economic calming strategies. Early in 2023, the Zimbabwean dollar …

Nigeria, Africa’s largest economy, has announced a proposed budget of N26 trillion ($34 billion) for the 2024 fiscal year, a 19% increase from the current budget of N21.8 trillion. The …

Sub-Saharan African countries are facing a debt crisis that could jeopardize their public services, such as health and education, and hamper their economic recovery. The International Monetary Fund (IMF) has …

Nigeria’s ongoing economic strife, accentuated by persistent foreign exchange crises, is compelling major manufacturing firms to overhaul their business strategies, a move experts warn could jeopardize product quality and pose …

South Africa’s state-owned freight-rail and ports company, Transnet, is seeking urgent financial support from the government to implement a turnaround plan that aims to restore its operational and financial performance. …