Tanzania has launched a major expansion of fuel infrastructure at the Port of Dar es Salaam, investing about $274 million (TZS 701.8 billion) to construct 15 new oil reception and storage tanks aimed at easing congestion and strengthening the country’s energy supply system. Tanzania has launched a $274 million (TZS 701.8 billion) project to build…
South Africa, similar to its move last year, has yet again offered to be a mediator in a major global conflict, this time between Israel and Iran. South Africa has once again offered to mediate in a significant global conflict, this time between Israel and Iran. President Cyril Ramaphosa stated that South Africa is ready…
Tourism remains a major economic engine across Africa, but in some countries, it is especially critical, contributing a significant share of national GDP and ranking among the most tourism-dependent economies globally. Business Insider Africa presents the top 5 African countries most dependent on tourism (Share of GDP). The data is from UN Tourism and the…
The dispute between the US mining firm, Kobold Metals, backed by Breakthrough Energy Ventures, which was founded by Bill Gates, and Belgium’s AfricaMuseum over the digitization of colonial-era maps of what is now the Democratic Republic of the Congo may be intensifying. KoBold Metals, backed by Bill Gates’s Breakthrough Energy Ventures, is looking to gain…
Egypt has emerged as one of the world’s most active nuclear builders and is currently the only African country constructing multiple reactors. Egypt is currently constructing four nuclear reactors, making it Africa’s leading nuclear builder. Egypt’s new reactors will add around 4.8 GW of capacity, ranking it among the top nations expanding nuclear energy. China…
Nigeria’s foreign exchange buffers have expanded sharply over the past two years, with net reserves rising more than sevenfold as the country overhauled its currency management framework. Nigeria’s net foreign exchange reserves rose 772% in two years to $34.8 billion at the end of 2025. The figure now exceeds the country’s total gross reserves recorded…
Egypt’s central bank and commercial banks now hold more foreign currency than ever before. On Monday, the central bank said net foreign assets, a key measure that shows total foreign money held minus foreign debts, rose by $4.02 billion in January. The new total reached a record $29.54 billion. Egypt’s net foreign assets rose by…
Uganda’s central bank said it will begin its domestic gold purchasing programme this month, joining a growing number of central banks worldwide that are boosting their gold holdings amid rising prices. Uganda’s central bank will start buying domestic gold this month to boost reserves amid record gold prices. Gold prices have surged above $5,000 an…
Abdulsamad Rabiu, Nigeria’s second richest man, and the fourth richest person in Africa, is set to receive a big dividend pay after BUA Cement reported a significant increase in profits for the previous fiscal year. Abdulsamad Rabiu, Nigeria’s second richest man, is set to receive nearly N324.38 billion in dividends from BUA Cement’s record profits.…
