Author: James Ndwaru

In a groundbreaking move toward transforming Ghana into a major global player in the electric vehicle (EV) supply chain, the Minerals Income Investment Fund (MIIF) of Ghana has pledged a strategic investment of $32.9 million in Atlantic Lithium Limited and its Ghanaian subsidiaries. This substantial investment is set to accelerate the development of the Ewoyaa Lithium Project, located just 100 km southwest of Accra, making it Ghana’s pioneering lithium mine, with significant support from Australian stakeholders.

MIIF’s Strategic Investment

Under the non-binding Heads of Terms agreement, MIIF will inject $27.9 million into Atlantic Lithium’s Ghanaian subsidiaries to acquire a 6% contributing interest in the company’s Ghana Portfolio, inclusive of the Ewoyaa Lithium Project. This funding will support ongoing capital, exploration, and study expenditures across Ewoyaa and the broader lithium portfolio in Ghana. At the same time, MIIF will subscribe for $5 million worth of Atlantic Lithium shares, representing approximately 3.05% …

South Africa is set to topple Nigeria and Egypt as Africa’s biggest economy in 2024. This is according to forecasts from the International Monetary Fund. According to IMF’s World Economic Outlook, South Africa’s gross domestic product will reach $401 billion per current price in 2024. On the other hand, Nigeria’s GDP will reach $395 billion, with Egypt’s GDP reaching $358 billion.

South Africa, the continent’s most industrialised nation, is expected to maintain the top spot as Africa’s biggest economy for only one year. In 2025, the country will again lag behind Nigeria and fall to third place behind Egypt a year later. This is according to the IMF’s World Economic Outlook, a report released last week.…

A new chapter is being written in the vast expanse of Africa, where ancient civilizations once thrived and folklore has been passed down through generations. This chapter speaks of a financial revolution, a transformative movement that promises to redefine the continent’s economic landscape. At the heart of this transformation is the SRS token, a groundbreaking innovation by the Humanity Protocol poised to usher in an era of decentralized prosperity.…

Africa’s oil and gas industry is entering a new era. The world is looking to fast-track its transition from fossil fuels. Consequently, this puts pressure on the continent’s oil and gas-producing nations. Most producing countries remain highly exposed to the global energy transition since their economies depend on oil and gas revenues. Similarly, their oil and gas reserves cost more to produce and, on average, remain more carbon-intensive than those from other regions.…

With its immense potential and vast resources, Africa stands at a critical point in its economic growth path. While the continent has promising economic prospects, it also has significant challenges that have impeded growth. A concept known as “blended finance” has gained popularity in recent years as a viable answer to assist governments in overcoming economic challenges. As a result, it is vital to look into what blended finance is, how African economies can leverage its benefits and its crucial role in supporting sustained growth across the continent.…

According to Investopedia, a gig economy is a labour market mainly reliant on temporary and part-time work filled by independent contractors and freelancers rather than full-time permanent employees. A gig economy produces cheaper, more efficient services for those willing to use them.

A gig is a broad category that includes a wide range of positions. Work can range from cab driving or restaurant delivery to writing code or freelance essays. Instead of tenure-track or tenured professors, adjunct and part-time professors are contracted employees. By recruiting more adjunct and part-time teachers, colleges and universities can save costs while also better-matching instructors to academic needs.…

Stellantis, a global automotive manufacturing giant, is set to strengthen its position in Africa with the announcement of a landmark manufacturing facility in Coega, South Africa. This strategic move follows a Memorandum of Understanding signed with the South African Industrial Development Corporation (IDC) and the Department of Trade, Industry and Competition (DTIC). The initiative is a key component of Stellantis’ “Dare Forward 2030” strategic plan and represents a significant step towards consolidating the company’s leadership position in the Middle East and Africa region.

Location and Capacity Plans

The chosen location for the state-of-the-art automotive plant is the Coega Special Economic Zone near Gqeberha in the Eastern Cape province of South Africa. Stellantis has set an ambitious timeline, aiming to complete the plant by the end of 2025, with the first vehicle—an anticipated 1-ton pick-up truck—expected to roll off the production line in early 2026.

A new facility and new vehicles …

The Confederation of African Football (CAF) has selected Kenya, Tanzania, and Uganda to host the 2027 Africa Cup of Nations (AFCON) over bids from Morocco, Algeria, Senegal, Botswana, and Egypt. The East Africa joint bid, commonly called the “Pamoja AFCON Bid,” has won the hosting rights for the 2027 AFCON as Morocco takes the rights for the 2025 showpiece.

CAF president Patrice Motsepe announced the news on Wednesday morning, 27 September, shortly after the body held an executive committee meeting in its headquarters in Cairo, Egypt. Recommendations from several nations boosted the East Africa Pamoja AFCON Bid. In a move that will elate East African sports enthusiasts, the CAF Executive Committee chose the Pamoja Afcon Bid.…

A new commentary from the International Energy Agency (IEA) on the upcoming World Energy Outlook 2023 has revealed that despite improvements, global access to electricity still needs to catch up to the pace required to meet SDG 7. The commentary supports discussions from the recently concluded United Nations’ SDG Summit on 18-19 September 2023. It is also part of the IEA’s support of the first global stocktake of the Paris Agreement, which will be finalized in the run-up to COP28, the next UN Climate Change Conference, at the end of 2023.…

In a recent announcement during the US-Africa Business Roundtable in the United States, Kenya’s President William Ruto revealed that Safaricom, a leading telecommunications company, is establishing a strategic partnership with Apple Inc. The Safaricom-Apple partnership will integrate the widely-used mobile money platform, M-Pesa, with Apple’s ecosystem. This integration will expand M-Pesa’s mobile financial services globally.
President William Ruto announced the deal after he toured Silicon Valley in San Francisco Bay, United States, on 16 September. The Kenyan leader is fast gaining popularity across Africa and globally. He has led from the front in marketing Kenya as a conducive ground for foreign business to thrive.…