Saudi Arabia has suspended the issuance of Block Work Visas for nationals from seven African countries, a move that could disrupt labor migration and remittance flows. Saudi Arabia has suspended Block Work Visas for nationals from seven African and seven additional countries. The suspension affects new and pending Temporary Work Visa applications and interrupts labor…
Burkina Faso is set to boost its industrial gold production in 2025, driven by the ramp-up of Soleil Resources International Ltd.’s project in the country and the anticipated start of output from a new mine operated by Australia’s West African Resources Ltd. Burkina Faso plans to increase its industrial gold output by 4% to 55.7…
In 2025, a few players of African descent appeared on Forbes’ annual list of the world’s highest-paid athletes, with their combined on-field and off-field incomes demonstrating their impact in sports and business. Four athletes of African heritage made Forbes’ 2025 list of world’s highest-paid athletes. Giannis Antetokounmpo ranked 13th, earning $94.4 million, with significant contributions…
South Africa has proposed a decade-long liquefied natural gas (LNG) import agreement with the United States as part of efforts to deepen bilateral economic relations and secure favorable trade terms. South Africa proposes a decade-long LNG import deal with the US to bolster bilateral economic ties. This agreement includes an annual purchase of 75-100 petajoules…
While some African countries have successfully stabilized their currencies and built resilience, others continue to struggle under the weight of a discounted currency. Business Insider Africa presents the top 10 African countries with the weakest currencies in May 2025. This list is courtesy of the Forbes currency calculator. São Tomé & Príncipe ranks number 1…
The African Development Bank (AfDB) plans to establish a new carbon markets support facility aimed at unlocking climate finance across the continent, senior officials announced at the bank’s annual meeting in Abidjan. The African Development Bank has announced plans to create the Africa Carbon Support Facility to enhance climate finance across Africa. The initiative will…
One in six Ghanaians who interacted with public officials in 2024 admitted to paying a bribe to access public services, the Ghana Statistical Service (GSS) has disclosed. 18.4% of Ghanaians who interacted with public officials in 2024 reported paying bribes, with cash being the most common form. The survey, which involved 7,248 participants nationwide, identified…
Sidi Ould Tah of Mauritania has been elected as the new President of the African Development Bank (AfDB) Group during the Bank’s Annual Meetings in Abidjan, Côte d’Ivoire. Sidi Ould Tah of Mauritania has been elected as the new President of the African Development Bank (AfDB). Tah will assume office on September 1, 2025, succeeding…
French energy giant TotalEnergies announced on Thursday that it will sell its 12.5% non-operating stake in Nigeria’s Bonga oil field to a subsidiary of Shell for $510 million. TotalEnergies has agreed to sell its 12.5% stake in Nigeria’s Bonga oil field to a Shell subsidiary for $510 million. This transaction will increase Shell’s ownership in…
