Africa entered 2026 with a small but increasingly concentrated billionaire class, according to new data from UBS, reflecting how global wealth creation continues to favour a handful of large economies on the continent. Africa’s billionaire class experienced notable shifts in 2026, with significant wealth concentration evident in Nigeria, South Africa, and Egypt. Across the Middle…
Several African economies remain heavily dependent on imports, according to World Bank data, highlighting structural weaknesses that continue to leave the continent vulnerable to currency shocks, supply-chain disruptions, and global price volatility. Many African nations heavily rely on imports, demonstrating vulnerabilities such as exposure to global price volatility. Imports equate to large proportions of GDP…
The Democratic Republic of Congo (DRC) will export copper to Saudi Arabia and the United Arab Emirates through a U.S.-backed partnership with Mercuria Energy Group Ltd., as Washington seeks to challenge China’s dominance in critical metals. The Democratic Republic of Congo (DRC) is entering into agreements to export copper to Saudi Arabia and the UAE,…
South Africa will raise its national minimum wage by 5% from 1 March, bringing the hourly rate to R30.23 ($1.89), up from the previous rate of R28.79 ($1.80), the government announced on Tuesday. The South African government announced a 5% raise in the national minimum wage, effective from March 1, exceeding analysts’ expectations. Public works…
The United States is ramping up efforts to challenge China’s grip on Africa’s critical minerals, backing a $9 billion move to take a 40% stake in Glencore’s copper and cobalt mines in the Democratic Republic of Congo, a country central to global battery and clean energy supply chains. The United States is increasing its involvement…
The global mining sector is experiencing a renewed surge in interest, fuelled by record gold prices and rising demand for critical minerals linked to AI and electrification. The global mining sector is witnessing significant advancements, propelled by record gold valuation and the increasing necessity for minerals vital to modern technologies like AI and electrification. Innovation…
Burkina Faso’s mining sector delivered a historic performance in 2025, with national gold production hitting a record 94 tonnes, according to official figures presented by the Minister of Energy, Mines, and Quarries, Yacouba Zabré Gouba. Burkina Faso produced a record 94 tonnes of gold in 2025, marking a sharp rise from the previous year. Mining…
Nigeria’s expanding security partnership with Türkiye will not undermine its long-standing defence relationship with the United States, Defence Minister General Christopher Musa (retd.) has said, as Abuja leans further into a non-aligned security posture amid competing global powers. Nigeria upholds diverse defence partnerships to maintain a balanced international stance. The country continues its longstanding defence…
Nigeria has taken a major step toward establishing a domestic electric vehicle (EV) industry after signing an agreement with South Korea’s Asia Economic Development Committee (AEDC) to establish what officials are calling Africa’s first EV manufacturing plant. Nigeria has signed an agreement with South Korea’s AEDC to establish Africa’s first EV manufacturing plant. This initiative…
