South Africa’s FirstRand Bank has acquired a 20% stake in UAE-based Optasia, a digital finance platform serving millions of underbanked clients across Africa, the Middle East, and Asia. FirstRand acquires a 20% stake (worth $70 million) in UAE-based fintech Optasia ahead of its JSE listing. Optasia serves millions of unbanked customers across 38 countries in…
Paul Biya, the world’s oldest sitting president, has secured an eighth term in Cameroon, keeping him in power as the country’s largely young population watches a political era that has spanned four decades. Paul Biya, 92, has been re-elected as president of Cameroon, extending his leadership since 1982. The election results showed Biya winning with…
Mali has suspended school and university activities nationwide due to a worsening fuel shortage. Mali suspended educational activities nationwide due to a worsening fuel shortage, halting classes for two weeks. The crisis follows a blockade imposed by al-Qaeda-linked militants restricting fuel imports into the country. Fuel shortages have impacted residents’ mobility, with closed fuel stations…
African nations are increasingly at the centre of a new mineral Cold War. Kenya’s Mrima Hill, with rare earth deposits valued at over $62 billion, has become a key focus of US and China competition for critical minerals. Kenya’s Mrima Hill, rich in rare earth minerals and valued at over $62 billion, has attracted global…
Nigeria has set its sights on becoming a global leader in digital innovation, with an ambitious plan to achieve 95% digital literacy and dominate artificial intelligence (AI) by 2030. Nigeria has set an ambitious target to achieve 95% digital literacy and AI dominance by 2030, led by NITDA’s strategic roadmap. The country aims to integrate…
Russia’s automakers UAZ and AvtoVAZ are stepping up plans to enter Africa’s fast-growing car market, pursuing local assembly initiatives aimed at competing with dominant Asian manufacturers and tapping into the continent’s push to build domestic vehicle production capacity. UAZ and AvtoVAZ are planning to enter Africa’s automotive market, focusing on local assembly initiatives. Russia-Ethiopia economic…
