Egypt has secured a $525 million investment from a Singapore-based corporation, Indorama Corporation to build a phosphate fertiliser and chemicals complex in the Suez Canal Economic Zone (SCZONE), as it pushes to expand exports and strengthen foreign exchange earnings. Egypt has signed a $525m deal with Indorama to build a fertiliser plant in the Suez…
French renewable energy firm Voltalia has brought a 148-megawatt solar power plant online in South Africa, in a deal that signals how large industrial companies are moving away from unreliable national grids. A 148MW solar plant has begun supplying power to a Rio Tinto subsidiary in South Africa. The project reflects a growing shift by…
Amid persistent disruptions to global trade in the Strait of Hormuz, Togo is putting forward an ambitious plan to position the Port of Lome as a more secure and dependable logistics center for the international maritime industry. Togo aims to position the Port of Lome as a secure and reliable logistics center amid disruptions in…
Uganda’s central bank has moved to reshape the country’s gold sector by signing $160 million worth of contracts with local suppliers to start buying domestically refined gold. The Bank of Uganda has signed $160 million in contracts with local suppliers to purchase domestically refined gold. Agreements were made with EuroGold Refinery Ltd and Feldstein Trading…
The U.S. Department of State has updated its travel advisory for Nigeria to reflect changes in embassy operations, as it begins evacuating non-essential staff from its mission in Abuja amid heightened security concerns. The U.S. Department of State has updated its travel advisory for Nigeria and is evacuating non-essential staff from the embassy in Abuja…
The South African rand and Nigerian naira have been ranked among the global currencies posting strong gains against the U.S. dollar over the past year, reflecting shifting market dynamics and improving domestic conditions. The South African rand and Nigerian naira have been among the world’s top-performing currencies against the US dollar over the past year.…
As the conflict in the Middle East precipitates a global energy crisis, several countries have implemented fuel-conservation strategies. Notably, President Samia Suluhu Hassan of Tanzania has introduced commute restrictions for government officials to mitigate energy consumption. Tanzanian President Samia Suluhu Hassan ordered government officials to commute together by bus to conserve fuel amid the global…
The Dangote Petroleum Refinery has lowered the ex-gantry price of Premium Motor Spirit (petrol) in Nigeria to N1,200 per litre ($0.87), reversing its recent decision to increase the fuel price, according to an anonymous source at the facility. Dangote Petroleum Refinery reduced its ex-gantry petrol price in Nigeria to N1,200 per litre, reversing a recent…
Global cybercrime losses surged to a record $20.8 billion in 2025, with more than 1 million complaints filed, as Nigeria and South Africa ranked among countries flagged in the latest report by the FBI’s Internet Crime Complaint Center Cybercrime losses reached a record $20.8 billion in 2025, marking a 26% increase from the previous year.…
