South Africa, Africa’s largest economy, is currently experiencing its most prolonged streak of foreign equity outflows in five years, with investors withdrawing a substantial $3.7 billion from the local stock market since October 2024, a data released by the Institute of International Finance (IIF) showed. South Africa is experiencing significant foreign equity outflows, with $3.7…
For the 23rd consecutive year, Forbes has released its Global 2000 ranking, highlighting the world’s largest and most influential publicly traded companies, with South Africa accounting for the majority of Africa’s entries. Forbes released its 23rd Global 2000 ranking of the world’s largest publicly traded companies in 2025. A total of 17 African companies are…
The government of Kenya has reduced its budget allocation for HIV, tuberculosis (TB), and malaria by KSh 11.4 billion in the proposed 2025/2026 financial year, despite a KSh 31 billion shortfall caused by the recent halt in donor funding. Kenya’s government has reduced its budget for HIV, TB, and malaria programs by KSh 11.4 billion…
The Port of Durban, in South Africa has made history with the arrival of the MSC Rifaya, the largest container ship to ever dock at a South African port. The MSC Rifaya, the largest container ship to dock in South Africa, made an unscheduled stop at Durban port Measuring nearly 400m in length and weighing…
Finance ministers across East Africa have increased health spending following U.S. President Donald Trump’s sudden withdrawal of billions of dollars in aid earlier this year. East African finance ministers have increased health expenditure due to a significant withdrawal of U.S. aid. Uganda announced an allocation of $32 million for antiretroviral medication to address the issue.…
Mali’s government has announced plans to establish a state-controlled gold refinery in partnership with Russian firm Yadran. Mali is establishing a state-controlled gold refinery in partnership with Russian firm Yadran to maximize earnings from its gold sector. The refinery, named SOROMA-SA, will be majority-owned by Mali with a 62% stake, located near Bamako’s airport with…
The International Monetary Fund (IMF) has indicated that the Ghana cedi’s strong appreciation against the US dollar in the first half of 2025 may necessitate adjustments to some of the targets outlined in its ongoing programme with Ghana. Ghana achieved its debt-to-GDP target of 55% three years ahead of schedule, attributed to the strengthened currency.…
South African-born billionaire Elon Musk is reportedly exploring the possibility of launching SpaceX rockets and deploying Starlink low Earth orbit (LEO) satellites from his home country. Elon Musk is considering using the Denel Overberg rocket test site in South Africa for SpaceX launches and Starlink satellite deployments. The site is strategically suited for polar orbit…
Several African countries have recently been added to the European Union’s money laundering blacklist as high-risk jurisdictions with inadequate anti-money laundering (AML) and countering the financing of terrorism (CFT) regimes. The EU has updated its blacklist, adding five African countries: Algeria, Angola, Côte d’Ivoire, Kenya, and Namibia. Several jurisdictions, including Uganda and Senegal, have been…
