Rwanda’s apex bank has expressed concern over a growing reluctance among businesses to accept low-denomination coins, warning that all coins remain legal tender and must be honored in transactions. BNR warns businesses against rejecting small-denomination coins, especially the Rwf20, reminding them all coins remain legal tender. The rise of digital payments has led many merchants…
Egypt is preparing to roll out its largest-ever Mediterranean gas drilling campaign in 2026, in a move officials say will strengthen domestic supply and reduce reliance on imports. Egypt plans its biggest Mediterranean gas drilling drive, targeting first output from West Meina by the end of 2026. Officials say the push will boost domestic supply…
Libya has awarded key fuel supply tenders to major Western energy traders, marking a significant shift away from Russian refined product imports as the North African producer restructures its oil sector. Libya has awarded major fuel supply tenders to Western energy traders, signalling a shift away from Russian imports. Companies including Vitol, Trafigura, and TotalEnergies…
Africa’s richest man, Aliko Dangote, has committed $1.1 million, to fund postgraduate business education in Nigeria, reinforcing a growing trend of billionaire-backed human capital investment across the continent. Aliko Dangote has pledged $1.1 million over five years to support postgraduate business education at Bayero University Kano’s Dangote Business School in Nigeria. The funding, disbursed through…
Nigeria is doubling down on digital innovation to fix what it calls a broken global payment system, one that keeps developing economies on the margins of trade and finance. Nigeria is leading a digital finance push to fix costly, fragmented cross-border payments. CBN Governor Olayemi Cardoso says inefficiency keeps millions out of global trade. The…
The United States has officially handed over a new, U.S.-funded maritime facility to the Government of the United Republic of Tanzania, a move that underscores growing defense and economic cooperation between the two nations. The United States has officially handed over a new maritime facility to the Tanzania People’s Defence Force in Tanga. The project…
Kenya’s High Court has ruled that I&M Bank can collect Sh864.7 million($6.7 million) from Buzeki Enterprises Ltd., saying a promissory note issued to the bank must be honored as written.The logistics firm is owned by businessman and politician Zedekiah Bundotich Kiprop (Buzeki). Kenya’s High Court has cleared I&M Bank to collect Sh864.7 million from Buzeki…
Ghana has paid 10 billion cedis, equivalent to about $910 million, in interest under its Domestic Debt Exchange Programme, marking the sixth coupon settlement since the country began restructuring its obligations during its worst economic crisis in a generation. Ghana has paid $910 million in interest under its Domestic Debt Exchange Programme, marking its sixth…
Moroccan property billionaire, Anas Sefrioui is committing more than MAD 3 billion (about $300 million) to a major mixed-use development in Abidjan, marking one of his most significant investments yet in Côte d’Ivoire’s commercial capital. Moroccan billionaire Anas Sefrioui is investing $300 million in a luxury mixed-use development in Abidjan’s Zone 4 district. The project…
