One of Nigeria’s most closely watched corporate battles took a dramatic turn this week after the Supreme Court overturned orders that froze the assets of Nestoil Limited and Neconde Energy, handing a significant victory to oil entrepreneur Ernest Azudialu-Obiejesi in a dispute involving more than $1.1 billion in alleged debt. Nigeria’s Supreme Court has overturned…
Mozambique has enacted sweeping new mining legislation requiring the state to hold a minimum 15% stake in all mining projects, as the resource-rich southern African nation seeks to capture a larger share of the value generated by its vast mineral wealth. Mozambique has enacted new mining laws requiring a minimum 15% state stake in all…
The French journalist, Christophe Gleizes, detained in Algeria back in 2024, on terror charges, maybe elibgible for a presidential pardon. French journalist Christophe Gleizes, detained in Algeria on terror charges, may now be eligible for a presidential pardon. Algeria’s top appeals court rejected calls for a harsher sentence, making the prospect of a pardon viable.…
Flights numbering around 20 have arrived in Kenya, despite tensions concerning the US’s plans to establish a quarantine base in the East African country. Around 20 flights carrying medical equipment and specialist staff have arrived in Kenya, amid controversy over Washington’s plan to establish a US quarantine base for Ebola exposure. At least six military…
Ethiopia is setting its sights on becoming a regional construction powerhouse, unveiling an ambitious plan to increase the share of domestic contractors capable of competing for international projects from 33% to 80% over the next decade. Ethiopia plans to increase domestic contractors’ share in international project bids from 33% to 80% within ten years. The…
South Africa has resumed large-scale maize exports as the country moves closer to what could become the biggest maize harvest in its history, a development that could strengthen food security and grain supplies across parts of Africa. South Africa has resumed large-scale maize exports amid forecasts of its biggest-ever harvest. The expected 17.064 million-tonne crop…
Art and culture are becoming some of the biggest drivers of tourism, identity, and global influence for cities worldwide. From world-class museums and contemporary art fairs to music festivals and creative districts, African cities are increasingly competing not just on economic strength but on cultural appeal. Cape Town, Marrakech, and Cairo have been named among…
A $4 billion Chinese deal targeting a gold mining company in Mali is facing growing uncertainty as regulators in Beijing raise concerns over valuation and geopolitical risk. Chinese regulators are questioning a $4 billion acquisition of Mali-based gold miner Allied Gold by Zijin Gold International due to concerns over valuation and political risk. China’s National…
At a time when parts of the global luxury industry are grappling with weaker demand in China and cautious consumer spending, the company behind Cartier is moving in the opposite direction. Richemont is approaching a $123 billion valuation after more than doubling in value over the past five years. The Cartier owner is outperforming parts…
