Across the large and resource-rich African continent, the number of dollar billionaires, people with net worths of more than $1 billion, remains remarkably low. Thom Mpinganjira from Malawi may have just added to this figure. Thom Mpinganjira from Malawi may now be classified as the country’s first dollar billionaire, with his assets exceeding $1 billion.…
The Democratic Republic of the Congo’s (DRC) military is set to significantly boost its ground capabilities with a large shipment of over 100 armoured vehicles from the United Arab Emirates. (UAE) DRC is enhancing its military capabilities with a major acquisition of armored vehicles from the United Arab Emirates. The procurement includes approximately 160 Kasser…
Barrick Mining Corp. shares fell after the Canadian miner booked a $1.04 billion charge tied to the seizure of its vast Loulo-Gounkoto gold complex by Mali’s military junta. Barrick Mining Corp. reported a $1.04 billion charge related to the Malian military junta’s seizure of the Loulo-Gounkoto gold complex. Tensions with Malian authorities over alleged unpaid…
South Africa will present a revised trade deal proposal to Washington on Tuesday, aiming to reduce the 30% tariff that U.S. President Donald Trump imposed on its exports last week. South Africa will present a revised trade proposal to the United States aiming to reduce newly imposed tariffs. The proposal responds to the points raised…
Lower-income countries are paying private lenders three times more than they send to China on external debt, according to new research from UK-based advocacy group Debt Justice. Lower-income countries allocate a significant portion of external debt repayments to private lenders, exceeding amounts paid to China. Research shows that from 2020-2025, 39% of $354 billion external…
Mali’s complicated political terrain has been jolted once more with the alleged arrest of several dozen soldiers, including two high-ranking generals, over the weekend. Allegations emerged of a coup attempt in Mali, resulting in the arrest of several military personnel, including high-ranking officials. The arrests highlight deepening tensions within Mali’s junta led by General Assimi…
The African Development Bank (AfDB) will provide up to $500 million to help finance a new airport in Ethiopia, slated to become Africa’s largest upon completion. The African Development Bank (AfDB) is contributing $500 million to support the construction of a new airport in Ethiopia. This facility, to be Africa’s largest, will feature four runways…
Kenya has invited international development lenders to help finance a $2 billion expansion of Nairobi’s Jomo Kenyatta International Airport (JKIA), just nine months after cancelling a deal with India’s Adani Group following the indictment of its founder in the United States. Kenya plans a $2 billion expansion of Nairobi’s Jomo Kenyatta International Airport. The country…
Zambia has raised concern over a new United States visa policy requiring some of its citizens to pay visa bonds of up to $15000, warning the measure would impose an “unnecessary financial strain” on travellers. Zambia has raised concerns over a new US visa policy requiring certain citizens to pay bonds up to $15,000. The…
