Home News Archive by category Business & Economy
The Saudi Arabia government has deposited $250 million into the Sudan central bank account as part of the promised three billion dollars assistance package by the later and the United Arab Emirates in support for the Sudanese economy after the ousting of for president Omar al-Bashir. “The (Saudi) Ministry of Finance has deposited SAR 937,500,000 […]Continue Reading
Known for its widespread human rights violations globally, Saudi Arabi is currently the world leading importer of arms from the year 2014 to 2018 which accounts for about 12 percent of imports an increase of 192 percent over the period of 2009-2013 according to the latest report by Stockholm International Peace Research Institute (SIPRI). According […]Continue Reading
Cape Town to hosts the 2019 African Utility Week from May 14th– 16th African Utility Week dedicated to Africans, is a gathering of professionals from the water, electricity and energy sectors in Africa, with discussions focused production, distribution and storage of energy in the continent. The event, taking place in conjunction with PowerGen Africa, will […]Continue Reading
Following a report released by the World bank, Ghana is currently the first-largest gold producer in Africa followed by South Africa. From its 2018 data records, the African nation has exported 158 tons of gold an increase of 15 percent over the past year. The Ghana Forest Investment Program is set to compensate the rural […]Continue Reading
Following the just concluded 2nd BRI forum in Beijing, China has come out to strongly defend its project stating that the Chinese government is “fed up” with complaints from the United States about its Belt and Road programme to re-create the old Silk Road. The Thursday May 9th 2019 statement was made following tough criticism […]Continue Reading
The Tony Elumelu Foundation (TEF), Africa’s foremost champion of entrepreneurship, will host its 5th Annual Forum — the largest annual gathering of African entrepreneurs – on July 26 – 27, 2019. The two-day event will take place at the iconic Transcorp Hilton Hotel, Abuja. The Forum is the culmination of the annual Tony Elumelu Foundation […]Continue Reading
European shares were deep in the red on Monday after U.S. President Donald Trump unexpectedly ratcheted up trade tensions between the world’s largest economies by vowing to hike tariffs on Chinese goods by this week, prompting investors to flee riskier bets. The pan-European STOXX 600 index had shed 1.4 percent by 0845 GMT, its steepest […]Continue Reading
Avideo footage captured the intense moment when Russian pilots crush landed a flaming Superjet-100 aircraft at Moscow’s Sheremetyevo Airport, after an in-flight emergency forced a crash landing. Aeroflot Flight SU1492 declared an emergency shortly after departing Sheremetyevo on Sunday, and circled Moscow before crash landing. Video footage captured from the airport shows Continue Reading
Germany Pledges Support in Counter-Terrorism The German Chancellor, Angela Merkel is currently on a West African tour that kicked off on Wednesday. Merkel, set to visit Burkina Faso, Mali and Niger for key talks over the next three days, has kept counter-terrorism support for countries in West Africa as one of her main priorities on […]Continue Reading
The Chinese technology giant Huawei said Monday its revenue grew 39% over a year earlier in the latest quarter despite US pressureand sanctions on allies to shun its telecom technology as a security risk. Huawei, the biggest global maker of network equipment for phone and internet companies, on Monday reported revenue of 179.7 billion yuan […]Continue Reading
The landlocked Country of Rwanda is beginning to play a pivotal role for Qatar’s geopolitical interests in in the East Africa Region. Doha one of the richest Arab economies is looking for strategic ally in Rwanda in the continued rush for interests in Africa. The Emir of Qatar, His Highness Tamim bin Hamad Al Thani, […]Continue Reading
IMF and Zimbabwe Sign Reforms Policy Paper to Save the Economy The International Monetary Fund (IMF) has finally decided to assist the currently troubled, politically and economically, southern African nation of Zimbabwe, which is suffering from decades of a steadily declining economy and hyperinflation. Since 1999, Zimbabwe has not been able to borrow from international Continue Reading
Worries Arise as Chinese Aid and Investments Come with Military Assistance While the politically and economically troubled southern African nation of Zimbabwe has been largely discarded and ignored by investors from the Western world, there are now big hopes that the global Asian economic giant, China, is coming to the rescue. Now regarded as one […]Continue Reading
Political And Regulatory Uncertainties Make Economies of African Countries Fragile. Population increase on the African continent is now reported to have outpaced its economic growth for the past four consecutive years. This is according to the World Bank (WB), which has revised down Africa’s growth rate, citing fragility. The global money lender had earlier projected […]Continue Reading
The tough and highly politicized war against graft in Kenya appears to still require a lot of consolidated efforts, dedication and courage, since most of the key culprits have strong and vast connections to the key holders of power. The new Ethics and Anti-Corruption Commission (EACC) chief, executive Twalib Mbarak has a lot on his […]Continue Reading
Possible Divisions within Sudan’s Armed Forces Emerge as Protests Gather Momentum Strong possibilities of divisions within Sudan’s armed forces have emerged in relations to the ongoing protests and the call for long-in-power President Omar al-Bashir to resign. Citizens of the troubled African nation have been rallying outside the army headquarters that also houses Continue Reading
After Ratification of the Trade Pact by 22 Nations, AfCFTA Now Ready to Get Started The historic and much anticipated African Continental Free Trade Area (AfCFTA) deal is soon coming into force as enough member countries have now ratified it.  Gambia became the final country to fill the needed minimum threshold of 22 signatures required […]Continue Reading