Indonesia, the world’s largest producer of palm oil, implemented a policy on May 17 to increase the export tax on crude palm oil (CPO) , aiming to finance biofuel initiatives and replanting activities within the country. Indonesia, the world’s largest producer of palm oil, raised its export tax on crude palm oil from 7.5% to…
South Africa’s government is preparing to offer Elon Musk a special exemption from the country’s Black ownership requirements to allow his satellite internet service, Starlink, to operate within its borders. The South African government considers granting Elon Musk’s Starlink an exemption from Black ownership policies. An alternative ‘Equity Equivalent’ model is proposed, allowing investments in…
Africa has officially launched its first continental space agency in a major step toward improving climate resilience, satellite infrastructure, and data-sharing across the region. Africa has launched its first continental space agency, the African Space Agency (AfSA), headquartered in Cairo, Egypt. AfSA aims to improve climate resilience, satellite infrastructure, and facilitate data-sharing across Africa. Global…
Algeria has secured a $3 billion loan package from the Islamic Development Bank to be disbursed over the next three years, aimed at accelerating key development initiatives. Algeria has secured a $3 billion loan from the Islamic Development Bank to support development initiatives over three years. The funding will focus on major infrastructure projects, including…
Kenya has firmly rejected U.S. concerns over its deepening ties with China, stressing that expanding its diplomatic and economic partnerships with Beijing does not represent a shift in allegiance. Kenya refuted U.S. concerns over its cooperation with China, affirming no shift in alliances. U.S. Senate hearings raised issues, associating Kenya’s Chinese partnership with shifting alignments.…
As of May 2025, diesel prices in several African countries remain a significant concern, putting strain on economies, sectors, and people. Business Insider Africa presents the top 10 African countries with the highest diesel prices in May 2025. This list is courtesy of data from GlobalPetrolPrices. The Central African Republic ranks at the top of…
Ghana, fresh from a tough debt restructuring process, is now locked in a dispute with the African Export-Import Bank (Afreximbank). Ghana is in conflict with Afreximbank regarding the restructuring of a $768.4 million debt. The Finance Ministry of Ghana seeks equal treatment of Afreximbank’s loan with other restructured debts. Afreximbank insists on preferred creditor status…
The International Court of Justice (ICJ) on Monday ruled that Equatorial Guinea holds legal sovereignty over a cluster of small islands in the potentially oil-rich waters in the Gulf of Guinea. This ruling marks the end of a decades-long territorial dispute with neighbouring Gabon. The International Court of Justice (ICJ) ruled Equatorial Guinea holds sovereignty…
President Cyril Ramaphosa will use his visit to Washington this week to promote investment opportunities for Elon Musk’s companies, as part of a broader push to improve relations with Donald Trump. South African President Cyril Ramaphosa aims to improve relations with the United States during his visit to Washington. Ramaphosa plans to discuss investment opportunities,…
