South Africa’s energy regulator has apologised for a 54 billion-rand ($3.1 billion) blunder in calculating electricity tariffs, a mistake that will be passed on to consumers. South Africa’s energy regulator, Nersa, apologised for a $3.1 billion mistake in calculating electricity tariffs. The error, attributed to a data input issue identified by Eskom, led to adjustments…
Saudi-based Vision Invest has invested $700 million in pan-African industrial developer ARISE Integrated Industrial Platforms (ARISE IIP), the company announced on Wednesday. Saudi-based Vision Invest has invested $700 million in ARISE Integrated Industrial Platforms (ARISE IIP). This transaction represents one of the largest private infrastructure deals in Africa. Vision Invest’s funds will support the development…
Ghana’s economy expanded by 6.3% year on year in the second quarter of 2025, up from a revised 5.7% in the same time the previous year, according to figures provided by the Ghana Statistical Service on Wednesday. Ghana’s economy grew by 6.3% in Q2 of 2025, primarily led by a 9.9% growth in the services…
A day after Ethiopia inaugurated the Grand Ethiopian Renaissance Dam (GERD), Egypt has renewed warnings that the project poses a serious threat to its water security. Egypt warns the Grand Ethiopian Renaissance Dam (GERD) threatens its water security. The $5 billion GERD project is Africa’s largest hydroelectric dam, aimed at doubling Ethiopia’s power capacity. Ethiopia…
Global military spending rose to an unprecedented $2.7 trillion in 2024 as wars and geopolitical tensions escalated across the world, according to a new United Nations report. UN Secretary-General António Guterres, speaking at a press briefing in New York, said the figures reveal a troubling imbalance between resources for war and investments in peace. “The…
A new policy report has cautioned African countries to be careful in signing green energy and industrial deals with Europe, warning that they could repeat the mistakes of the past if not properly managed. A new report advises African nations to exercise caution in forming green energy agreements with Europe. It highlights Africa’s renewable energy…
Kenya’s bank lending expanded at its fastest pace in a year in July, driven by a series of aggressive interest rate cuts by the central bank. Kenya’s bank lending experienced its fastest growth in a year as of July, driven by central bank interest rate cuts. Private-sector credit increased by 3.3%, reversing a previous contraction…
Strike by union workers in Nigeria has come to a halt after a meeting with the group, the Nigerian government, and the Dangote Oil Refinery. The Nigerian Union of Petroleum and Natural Gas Workers ceased their two-day strike after reaching an agreement with the government and Dangote Oil Refinery. The dispute originated over the right…
Khat, a plant indigenous to Kenya, with psychoactive properties, has become somewhat of a goldmine, given the grey area in its untapped fiscal potential. Khat, a psychoactive plant native to Kenya, is recognized for its stimulant effects and contains compounds classified as narcotics in some regions. Despite legal ambiguity, Khat cultivation and commerce thrive in…
