Trending
- China integrates mega logistics firms to ease trade with Kenya, Africa
- South Africa Inflation falls to a Four-Year Low Before Rate Decision
- A deep dive into how Africa’s hospitality industry is evolving to meet 2025 travel trends
- Green energy revolution in Kenya: How solar power is transforming rural communities
- Trump’s Presidential Win Influences Currency and Financial Decisions in Africa
- Gabon’s Referendum: the First Step Toward a Return to Civilian Rule
- COP29: Africa calls for fair GDP valuation of its $6 trillion natural wealth
- Africa’s rising global role as BRICS onboards Egypt and Ethiopia
Countries
- Zambia’s economic growth projections have dropped to 1.2 per cent, down from an earlier estimate of 2.3 per cent.
- Key sector agriculture has shrunk by over 20% YoY even as energy output dropped by nearly 10%, affecting electricity supply.
- Compounding the challenge, inflation in Zambia rose sharply, reaching 15.7% in October 2024.
Zambia’s economic outlook for 2024 has suffered a downturn, with the main sectors facing substantial contractions that could weigh on the South African country’s overall recovery.
According to the latest review by the International Monetary Fund (IMF), Zambia’s economic growth projections have dropped to 1.2 per cent, down from an earlier estimate of 2.3 percent. This is largely due to wide-ranging electricity shortages and declining activity across critical industries such as agriculture and energy.
After completing the IMF review, Zambia will access about $185.5 million in financing (SDR 139.9 million) for budgetary support in a tough economic year.…
- Graphite mining firm Pula Group sues South African billionaire Patrice Motsepe for $195M.
- Motsepe’s ARM mining faces breach of non-complete contract by investing in Australian firm Evolution Energy Minerals near Pula’s graphite project.
- ARM denies all claims, maintaining that they ‘considered’ but did not breach contract.
South African billionaire Patrice Motsepe is facing a $195 million lawsuit in Tanzania following allegations of a breach of contract by his mining companies in the East African country. The high profile case is being heard in Tanzania’s Commercial Court and is one of the biggest suits before the corridors of justice in recent years.
Patrice Motsepe owns a number of mining heavyweights including African Rainbow Minerals (ARM), African Rainbow Capital and ARCH Emerging Markets. He also has shares in Tanzanian mining company Pula Group.
In the roiling legal showdown, Pula Group is accusing billionaire Motsepe of breaching a 2021 non-compete contract by …
- Statistics show that the spread of mpox continues to worsen in Africa with over 2,500 new cases recorded in the last week alone.
- Epicentres the DRC and Burundi account for 86.7% of all new confirmed cases reported during the past week.
- To counter the disease spread, partners are supplying vaccines to nine hard-hit countries.
Mpox outbreak is reportedly worsening in Africa as the number of cases crossed 50,000 mark, the Africa Centers for Disease Control and Prevention (Africa CDC) has warned.
The threat was announced at a media brief on Thursday by Africa CDC Director-General Jean Kaseya, who highlighted that 19 African countries have reported 50,840 mpox cases, with 10,741 confirmed and 1,083 deaths since the start of this year.
“During last week alone, the continent reported 2,532 new cases, including 345 confirmed cases and 32 new deaths,” he reported.
According to the CDC Director-General, data from …
- Russia and Tanzania are holding trade talks aiming at revamping commercial ties between the two nations.
- At the moment, Russia projects at doubling trade with Tanzania.
- Russia to use Tanzania as a single port of entry to access the African market.
Russia has pledged to double current trade value with Tanzania as authorities from the two countries met in Dar es Salaam Tanzania. The pledge was made at the first Russian-Tanzanian Intergovernmental Commission on Trade and Economic Cooperation at the start of the week in Tanzania’s commercial port city where the meeting is being held.
Russian Economic Development Minister Maxim Reshetnikov visited the country along with a delegation of Russian businessmen representing more than 50 Russian companies.
“Based on our estimates, trade between our countries could double,” Mr. Reshetnikov said. “We stand ready to help the Tanzanian economy maintain the high pace that has achieved in the energy, agriculture, infrastructure …
- Janngo Capital’s $78M fund has redefined gender-equal investment in Africa’s tech sector.
- This has positioned the firm as a key player in African venture capital scene while supporting women-led enterprises across the continent.
- Janngo’s fund has drawn new investors, Mastercard Foundation Africa Growth Fund, U.S. International Development Finance Corporation (DFC), International Finance Corporation (IFC), and ANAVA Fund.
Janngo Capital, a female-led Pan-African venture capital firm, has made history by finalizing its second fund at an impressive $78 million, 20 per cent beyond its original target.
This milestone establishes Janngo Capital as the largest gender-equal tech VC fund in Africa, a remarkable achievement that underscores the rising global and local interest in gender-lens investing.
The firm’s founder, Fatoumata Bâ, celebrated this landmark by highlighting the firm’s commitment to empowering women entrepreneurs and driving equal opportunities in the tech sector.
Janngo Capital’s $78 million fund has redefined gender-equal investment in Africa’s tech …
- Tanzania cashew nut prices triple.
- The country plans to export processed cashew nuts by 2027.
- Over 1500 acres set for a cashew nut industrial park.
Tanzania is planning to move from the export of raw cashew nuts to processing in-country and export added value exports of the product. Notably, the Tanzania Mercantile Exchange (TMX) has reported that the East African country’s cashew nut prices have more than tripled, growing from several cents per kilogram last harvest to over two dollars this season.
“This is the first time prices have increased to such record high. We welcome this development as the auctions continue,” notes Sharifu Linjenje, a cashew farmer from Newala District in the Mtwara region.
The farmer was one of many others who told local media that should the high price be sustained, then it will make a difference in the farmers’ lives. Market prices of raw cashew nuts have …
- Expert shares list of the 10 places occupied by billionaires.
- New York tops the list, with Hong Kong and Beijing close behind.
- Expert says these cities are hotspots for networking.
Billionaires, otherwise known as members of the Three Comma Club, can more or less decide to live wherever they like. Some even choose to buy an island for themselves, to get away from it all! However, most opt to live and work in some of the world’s major cosmopolitan areas. So where are they?
Julian Goldie, a leading business consultant and educator, gives us a rundown of billionaires’ top ten favourite cities, how much they are collectively worth, and why they choose to live where they live.
According to Goldie, these cities are spread across the whole globe, and are as diverse as they come.
“But they do all have one thing in common, and that is that they …
- Shelter Afrique Development Bank (ShafDB) and the Bourse Régionale des Valeurs Mobilières (BRVM) will tap Green, Sustainability-linked, and Social (GSSS) bonds to finance housing.
- Green bonds will fund eco-friendly housing projects while social bonds will finance projects that prioritize affordability and accessibility.
- At the same time, sustainability-linked bonds will support both objectives, ensuring a comprehensive strategy for tackling the current housing crisis.
Shelter Afrique Development Bank (ShafDB) has taken a new step toward addressing affordable housing needs in Africa through a partnership with the Bourse Régionale des Valeurs Mobilières (BRVM), the regional stock exchange for the West African Economic and Monetary Union (WAEMU).
In a Memorandum of Understanding (MOU), the Pan-African institution focused on affordable housing, signed the deal on the sidelines of the IMF-World Bank Annual Meetings in Washington, D.C., aiming to mobilize capital for affordable housing projects across the continent, particularly in WAEMU’s eight member countries.
With Africa’s …
- The injection of $2 million will allow Oyster to deepen its reach, bringing more farmers into its network and enhancing its ability to implement climate-smart practices.
- This expansion comes at a critical time as Ghana’s agricultural sector faces mounting challenges from climate change, making the need for resilient, sustainable farming methods more urgent
- Oyster has also contributed roughly $3.8 million to farmers, helping stabilise incomes and supporting community growth.
Oyster Agribusiness, a Ghanaian agri-tech company specializing in climate-smart agriculture, has secured a $2 million investment to scale its operations and expand its support for smallholder farmers across the country.
The capital raise, led by business development service provider Pangea Africa Limited, brought together key players such as Root Capital, RDF Ghana, and the Sahel Capital Social Enterprise Fund for Agriculture in Africa (SEFAA FUND).
This financial boost marks a new chapter for the company, which has cemented its role in …
