Both domestic and international flights in Kenya are set to be hit with an air ticket levy, following a bill recently signed by the country’s president, William Ruto. Kenya has introduced an air ticket levy for domestic and international flights under the Air Passenger Service Charge Amendment Bill signed by President William Ruto. Passengers will…
Nigeria is set to reclaim its place among Africa’s top three largest economies, according to new projections from the International Monetary Fund (IMF), which forecast a rebound in growth driven by rising oil revenues, exchange rate reforms, and renewed investor confidence ahead of 2026. Nigeria is projected to reclaim its position as the third-largest economy…
Morocco plans to eliminate coal-fired power generation by 2040, provided it secures sufficient international climate finance, the Powering Past Coal Alliance (PPCA) said on Thursday. Morocco aims to phase out coal-fired power generation by 2040 with support from international climate finance. The nation joined the Powering Past Coal Alliance in 2023 to strengthen its transition…
Africa’s mobile technology sector pumped an impressive $220 billion into the continent’s GDP in 2024, accounting for 7.7% of total output, according to the Mobile Economy Africa 2025 report by the Global System for Mobile Communications Association (GSMA). Africa’s mobile technology sector contributed $220bn (7.7%) to GDP in 2024, according to the GSMA. GSMA projects…
Coca-Cola Co. expects to book an impairment charge of about $1 billion in the fourth quarter of 2025 as it prepares to sell part of its ownership in its African bottling operations. Coca-Cola Co. is set to record a $1 billion impairment charge in Q4 2025 due to the sale of part ownership in African…
The International Monetary Fund (IMF) projects that the global economy will reach $124 trillion in 2026, reflecting modest growth amid rising protectionism and geopolitical fragmentation. In its October 2025 World Economic Outlook (WEO), the IMF highlighted slowing growth across major economies and noted risks such as tech-stock repricing and weakening institutional independence, which could affect…
Nigerian business mogul Tony Elumelu has called on African investors to support local markets while urging policymakers to maintain a stable and predictable business environment, underlining the importance of fostering homegrown economic growth. Africa faces an annual infrastructure financing gap of $108 billion, highlighting the need for collaborative investment strategies. Tony Elumelu emphasized the importance…
Ghanaian engineer Frank Owusu, founder of Aquamet, has been named a runner-up in the 2025 Royal Academy of Engineering’s Africa Prize for Engineering Innovation, the continent’s most prestigious award for engineering entrepreneurs. Ghanaian engineer Frank Owusu was acknowledged as a runner-up in the 2025 Royal Academy of Engineering’s Africa Prize for Engineering Innovation. Aquamet is…
Oil production remains a vital economic pillar for many African countries, playing a major role in their GDP and serving as a key source of government revenue. In September, output followed the usual pattern of monthly variations seen in the sector. Oil production remains integral to the economy of African nations, significantly contributing to GDP…
