Saudi Arabia recorded a merchandise trade surplus of SR14.36 billion ($3.83 billion) in July, with Egypt emerging as its most prominent African trading partner, according to preliminary government data. Saudi Arabia recorded a merchandise trade surplus of $3.83 billion in July, although both exports and imports fell year-on-year. Egypt emerged as Saudi Arabia’s top African…
Kenya’s housing program, which has been a huge part of the country’s current administration’s policies, may be facing some significant financial hurdles. Kenya’s ambitious housing program aims to deliver 200,000 units annually but is facing serious financial challenges. The Affordable Housing Act, 2024, was recently upheld by Kenya’s Court of Appeal, endorsing a 1.5% payroll…
The United States has returned about $2.5 million to The Gambia from the sale of a Maryland mansion linked to former President Yahya Jammeh, with the money set aside to compensate victims of his 22-year rule. The US returned about $2.5 million to The Gambia from the sale of a Maryland mansion linked to former…
Senegal has enlisted a Turkish company for a proposed second oil refinery and an upgrade of its existing plant, in a bid to process more of its newly produced crude at home and sell fuel across West Africa. Senegal’s state refiner has signed a preliminary agreement with Turkey’s Yamata for a second refinery. The proposed…
Kenyan contractors are challenging tax and customs concessions they say favour firms working on Chinese-financed infrastructure projects, setting up a legal dispute over the terms under which foreign and local businesses compete for construction work. Kenyan contractors want the government to disclose tax and customs concessions linked to Chinese-financed infrastructure projects. They allege that the…
A South African project that plans to extract rare earths from fertiliser waste could become a new source of materials for European magnet manufacturers under an agreement announced on Thursday. Canada’s Neo has signed a rare earth supply agreement with South Africa’s Rainbow Rare Earths. The Phalaborwa project aims to recover rare earths from 35…
