Gold prices fell on Wednesday, weighed down by a stronger US dollar and signs of easing trade tensions, as investors await key US economic data that could shape the Federal Reserve’s next move on interest rates. Spot gold fell 0.4% to $3,302.58/oz by 4:30am GMT, while US gold futures declined 0.7% to $3,310.70/oz. Gold prices…
Somalia has announced a ban on Taiwan-issued passports from entering, exiting or transiting its territory, citing its commitment to the “one China” policy and UN Resolution 2758. The decision, made by the Civil Aviation Authority of Somalia on April 22, will go into effect on April 30. The directive effectively blocks Taiwanese passport holders from…
The African Export-Import Bank (Afreximbank) has launched a $3 billion revolving credit facility to help African and Caribbean buyers more easily access fuel, such as petrol, diesel, and jet fuel, from refineries within the continent. Afreximbank has launched a $3 billion revolving credit facility to help African and Caribbean buyers access fuel from African refineries.…
Burkina Faso plans to increase its control over foreign-owned industrial mines, as the country looks to capture a larger share of revenue from its natural resources. Burkina Faso plans to increase control over foreign-owned industrial mines to capture a larger share of revenue from natural resources. Revised mining code and state-owned mining company SOPAMIB strengthen…
The African Growth and Opportunity Act (AGOA) is at risk due to the protectionist shift. If AGOA is allowed to lapse, it could slowly erode U.S. geopolitical influence in Africa, at a time when China and Russia are deepening their footholds, and Gulf states are emerging as powerful new players. President Trump froze USAID’s $43…
While the International Monetary Fund (IMF), can be useful during times of crisis, staying relatively debt-free provides considerable benefits to African countries, including economic autonomy and global legitimacy. Business Insider Africa presents the top 10 African countries with the lowest debt to the IMF in April 2025. This list is courtesy of data from the…
As the installation of the Starlink business gains momentum in Africa, more markets have expressed interest in the service including Uganda, which highlighted its promising negotiations with the Elon Musk led company. Uganda is in promising negotiations with Starlink for low-cost internet services President Yoweri Museveni had a productive meeting with Starlink representatives Starlink has…
Demographic dynamics are an overlooked but crucial factor in the areas of economic power, national security, and international influence. This is especially true for the demographic reaching military age. Business Insider Africa presents the top 10 countries with the highest number of people ready to enter the military in 2025. This list is courtesy of…
The Warri Refinery in Nigeria has shut down operations, sparking concern over the transparency and effectiveness of its costly rehabilitation, despite hundreds of millions of dollars spent by the federal government. Warri Refinery in Nigeria shut down after costly rehabilitation Refinery failed to produce petrol despite $897.6 million spent on maintenance Nigeria’s government-owned refineries plagued…
