Zimbabwe’s best shot at ending its 25-year debt default lies not in going it alone but in formally engaging the Group of 20 nations for a coordinated solution, according to World Bank President Ajay Banga. A World Bank official recommends that Zimbabwe seek G-20 assistance to resolve its 25-year debt crisis. Zimbabwe’s debt, totaling $21…
Ghana has cancelled a $1.2 billion bauxite lease awarded to local firm Rocksure International and is now seeking a foreign partner to develop one of West Africa’s richest untapped bauxite reserves. Ghana has cancelled a $1.2 billion bauxite lease with Rocksure International. The Nyinahin Hills site, holding 376 million metric tons of bauxite, was central…
In a renewed advisory targeting visa misuse, the United States has cautioned Nigerians against attempting to travel to the country with the primary aim of giving birth, a practice commonly referred to as birthright citizenship. The United States has issued an advisory cautioning Nigerians against traveling to the country with the primary intention of giving…
Dangote Cement Plc, owned by Africa’s richest man, posted its biggest profit surge in nearly six years, driven by a stable naira and higher cement prices. Dangote Cement Plc reported a tripling of net income in Q2 to 309 billion naira due to higher cement prices and a stable naira. Revenue grew by 14% despite…
In a significant legal victory, Kenya and Uganda have successfully fended off a $2 billion claim filed by the defunct Rift Valley Railways (RVR) consortium at the London Court of International Arbitration (LCIA). Kenya and Uganda successfully defended a $2 billion claim at the London Court of International Arbitration. The dispute arose from the 2017…
Africa’s richest man, Aliko Dangote, has called on the Nigerian government to stop the importation of petrol, diesel, and other refined fuel products. He believes the country should prioritise local production under the “Nigeria First” policy introduced by President Bola Tinubu. But oil marketers and industry groups are pushing back, warning that such a move…
The Trump administration’s revised immigration policy is raising alarm among African students in the United States, following the introduction of stricter visa conditions that could prevent them from leaving the country until after graduation. The Trump administration’s revised immigration policy imposes stricter visa conditions on African students in the U.S. Many students and families express…
The recent discovery of a 4,000-year-old handprint on an artifact from ancient Egypt seems to have provided a remarkable window into the human touch that underlies one of the oldest civilizations in history. A 4,000-year-old handprint was discovered on an ancient Egyptian artifact named ‘soul house.’ The artifact was prepared for the Made in Ancient…
Hailed as a game-changer for Nigeria’s energy sector, the $20 billion Dangote Refinery is currently at the center of a maritime dispute. African shipowners have expressed concern that the refinery is using ships from Angola to transport its crude and finished products, rather than Nigerian-owned vessels. The Dangote Petroleum Refinery, worth $20 billion, is a…
