Egypt has unveiled plans for a $1 billion mixed-use development on the Red Sea coast, showing its push to expand tourism capacity and attract more foreign investment into the sector. Egypt has announced a $1 billion mixed-use development project, the Monte Galala Towers and Marina, which will enhance tourism and foreign investment on the Red…
India’s largest state-owned refiners have sharply increased purchases of crude oil from West Africa and the Middle East in a notable shift away from Russian supplies as New Delhi seeks to strengthen its negotiating position with Washington on a potential trade deal, industry sources say. Indian Oil Corporation has bought six million barrels of crude…
The South African rand began the trading week firmer on Monday, gaining against the US dollar as key commodity prices recovered and the greenback eased. South Africa’s rand gained 0.5% against the US dollar on Monday, supported by higher gold and platinum prices. Gold climbed above $5,000 an ounce, boosting demand for commodity-linked currencies. A…
As African countries stare down the barrel of potentially tougher global financial conditions in 2026, access to foreign exchange (FX), especially considering the debacle of the gold market, presents a very interesting challenge. African nations are preparing for more stringent global financial conditions expected in 2026, emphasizing the critical need for foreign exchange (FX) accessibility.…
Oil has long been one of Africa’s most powerful economic assets. In Africa, Libya holds the largest proven oil reserves, estimated at 48.4 billion barrels, ranking ninth globally, according to the latest Global Firepower report. Business Insider Africa presents the top 10 African countries with the largest proven oil reserves in 2026. The list is…
As 2026 reaches its second month, military events continue to dominate headlines, looming as an unsettling factor that influences state sovereignty, economic confidence, and political stability throughout Africa. Military events prominently influence African countries’ sovereignty, political stability, and economic conditions as of early 2026. The strength and presence of a capable military are significant topics…
Three African countries which include Angola, Namibia, and the Democratic Republic of Congo (DRC) have agreed to deportation deals to take back foreign offenders and illegal migrants from the United Kingdom following threats of visa penalties. Angola, Namibia, and the Democratic Republic of Congo (DRC) have agreed to accept back their nationals who are illegal…
The state-owned mining outfit, Mutapa Platinum Group, in Zimbabwe, is actively seeking mining partners to facilitate the development of its $500 million platinum mine. Zimbabwe’s Mutapa Platinum Group has announced plans to develop a $500 million platinum mine in Darwendale, aiming to commence operations by the year’s Q1 end. The region, located in Mashonaland West,…
Ghana has pledged to import petroleum products from Nigeria’s Dangote Petroleum Refinery in Lagos, citing the limited capacity of its own refineries. Ghana has announced a plan to import petroleum products from Nigeria’s Dangote Petroleum Refinery, fostering increased intra-African energy trade. The Dangote Refinery, Africa’s largest with a 650,000 barrels-per-day capacity, has sufficient abilities to…
