Africa’s economic recovery could face a major setback after the African Development Bank (AfDB) warned that an unusually powerful El Niño weather event could erase between $10 billion and $20 billion from economies across the continent, slow growth, damage infrastructure and trigger fresh waves of climate migration. AfDB says a powerful El Niño could cost…
The president of Nigeria, Bola Tinubu, is facing calls from prominent energy analyst Dan Kunle (who served as Senior Technical Adviser to the Minister of Energy for Gas during the creation of the 2007–2009 Nigerian Gas Master Plan) to pause commitments on the proposed $25 billion Nigeria–Morocco Gas Pipeline. Energy analyst Dan Kunle urges President…
Daniel Adongo, the former Kenyan rugby player who built his career in South Africa before reaching the NFL, has been deported from the United States after immigration authorities said he overstayed his visa and was convicted of a criminal offence. Former Kenyan rugby player and NFL linebacker Daniel Adongo was deported from the US for…
The BRICS New Development Bank has added Zimbabwe as a member, according to the country’s Finance, Economic Development and Investment Promotion Minister, Mthuli Ncube. Zimbabwe has joined the BRICS New Development Bank, making it eligible for new credit lines and funding opportunities. The announcement was made by Zimbabwe’s Finance Minister, Mthuli Ncube, highlighting the move’s…
The United States has unveiled a sweeping new tariff regime targeting imports from 60 economies, with Nigeria, South Africa, Egypt, Morocco, Algeria, Angola and dozens of other countries set to face a 12.5% tariff as President Donald Trump rebuilds his global trade wall under Section 301 of the Trade Act of 1974. The United States…
Ethio Telecom, Ethiopia’s state-owned telecoms behemoth, claimed a significant rise in profit for the fiscal year 2025/26, owing to rapid subscriber growth, expanded digital offerings, and the sustained success of its mobile money platform, Telebirr. Ethio Telecom reported a net profit of $581 million for 2025/26, up 47.5% from the previous year. Revenue rose to…
Before the Iran war, around 15 million barrels of Persian Gulf oil passed through the Strait of Hormuz every day, making the narrow waterway one of the world’s most critical energy chokepoints. At least seven major pipeline projects are underway or planned to reroute oil exports via the Red Sea, Gulf of Oman, and the…
The Trump administration has unveiled a $500 million U.S.-Africa Strategic Investment Program, signaling a major shift in Washington’s engagement with Africa by prioritizing private sector investment over traditional foreign aid while seeking to secure access to the continent’s vast critical mineral resources. The Trump administration launched a $500 million U.S.-Africa Strategic Investment Program. The initiative…
The Dangote Refinery, controlled by Africa’s richest man, Aliko Dangote, has received backing from some of Africa’s most high-profile institutional investors, raising $2.5 billion in a historic private equity placement that generated record demand. Dangote Refinery has raised $2.5 billion in a record-breaking private equity placement with strong interest from major African and international institutional…
