Zimbabwean banks reported major disruptions to a key payment channel after the Reserve Bank of Zimbabwe (RBZ) suffered a network failure, which it is still trying to resolve. Zimbabwean banks are experiencing disruptions due to a network failure at the Reserve Bank of Zimbabwe (RBZ). The real-time gross settlement (RTGS) payment system has been impacted,…
Japan intends to inflate its influence in Africa and has established several initiatives geared towards this goal. Japan is enhancing its influence in Africa by initiating several economic and environmental projects. The Japanese government plans to raise $1.5 billion over the next three years for sustainable development in Africa. This funding, facilitated by JICA and…
East Africa has broken ground on its first-ever cross-border standard gauge railway (SGR), a $2.15 billion project stretching 240 kilometers from Uvinza in western Tanzania to Musongati in eastern Burundi. East Africa has initiated construction on a $2.15 billion cross-border railway spanning Tanzania and Burundi. Tanzanian and Burundian leadership emphasized its role in boosting connectivity…
Burkina Faso has expelled United Nations regional coordinator Carol Flore-Smereczniak, declaring her persona non grata in response to a UN report that accuses the West African nation of committing violations against children in armed conflict. Burkina Faso has expelled UN regional coordinator Carol Flore-Smereczniak, labeling her persona non grata. The expulsion follows a UN report…
Cameroon’s 42,000-barrel-per-day refinery, shuttered since a devastating fire in 2019, is now set for rehabilitation under a new government-backed plan. The 42,000-barrel-per-day refinery has been non-operational since 2019 following a fire and now faces rehabilitation under a government-endorsed plan. The recovery program, named Parras 24, aims to restructure and repair the facility within a designated…
According to Russia’s Defense Ministry, the training ship Smolny of the Russian Baltic Fleet landed in Tanzania this week as part of its long-distance training mission. The Russian training ship Smolny docked in Dar es Salaam, Tanzania, as part of its naval training mission. Over 300 cadets on board participated in the visit, and Tanzanian…
Egypt has emerged as a key mediator in the Gaza conflict, with President Abdel-Fattah El-Sisi receiving Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani in Cairo this week to advance cease-fire talks. Egypt is playing a significant role in mediating the Gaza conflict, with high-level discussions occurring in Cairo. Efforts are focused on establishing a…
Kenya, seeking to ease strained public finances, is turning to its citizens abroad with plans to issue a diaspora bond worth between $250 million and $500 million. Kenya plans to issue a diaspora bond worth $250-$500 million to ease public financial stress. The government aims to raise $3.8 billion to fund infrastructural projects such as…
In today’s rapidly changing global economy, where political shifts, tax reforms, and economic uncertainties can impact personal wealth, the choice of where to live has become increasingly important. The 2025 Global Cities Report highlights cities excelling in tax efficiency, wealth preservation, and sustainable living. Three key indices shape the rankings: Tax-Friendly Cities, Wealth Preservation Cities,…
