African economies heavily dependent on imported fuel could be set for some relief after shipping activity through the Strait of Hormuz surged to its highest level since conflict disrupted one of the world’s most important energy corridors. Shipping activity through the Strait of Hormuz has surged, with a record 78 vessels passing on June 24,…
Africa is spending billions of dollars to tackle one of its biggest barriers to economic growth, access to reliable electricity. As African countries invest billions to expand electricity access, oil producers worldwide burned an estimated $54 billion worth of natural gas in 2025, according to the World Bank. The report says the wasted gas could…
Nigeria, Libya and Algeria have been listed among the world’s biggest gas-flaring countries, raising fresh concerns over Africa’s ability to turn its oil and gas resources into power, revenue and industrial growth. Nigeria, Libya and Algeria are among the nine countries responsible for most global gas flaring. The World Bank said the top nine countries…
Africa is facing a fresh energy paradox: the world is burning off enough natural gas to match the continent’s annual consumption while millions of people still lack reliable electricity. Global gas flaring rose to 167 billion cubic metres in 2025, the highest level since 2019. The World Bank said the volume was comparable to Africa’s…
The United Arab Emirates (UAE) has introduced a new visa policy that grants visa-on-arrival access to Kenyan passport holders who possess valid residence permits issued by the United States or a member state of the European Union. The UAE has introduced visa-on-arrival access for Kenyan passport holders with valid US or EU residence permits. This…
Paramount Group, Africa’s largest private defence company, has unveiled a new light armoured vehicle with India’s Kalyani Strategic Systems Limited, as African and Asian defence manufacturers deepen partnerships to supply armed forces across emerging markets. The Simha 4×4 is designed for versatility, including roles in urban warfare, border protection, special operations, and troop transport, with…
Nigerian oil billionaire Mohammed Indimi is set to receive a dividend of about N1.44 billion ($1.05 million) after shareholders of Jaiz Bank approved a higher cash payout following another year of strong earnings growth. Oil billionaire Mohammed Indimi is entitled to a N1.44 billion ($1.05 million) dividend from Jaiz Bank after shareholders approved a higher…
Nigeria’s biggest stock market selloff this year wiped more than $1 billion from the fortune of industrialist Abdul Samad Rabiu, underscoring how sharp swings in the country’s equity market can rapidly reshape the wealth of Africa’s richest business leaders. Abdul Samad Rabiu’s fortune fell by $1.02 billion after BUA Cement shares dropped 10%. The Nigerian…
The Swiss luxury firm Richemont, controlled by Africa’s second richest man, Johann Rupert, formally inaugurated a significant extension of its leather goods production plant in Scandicci, an Italian town close to Florence, on June 23. Richemont has expanded its leather goods production plant in Scandicci, Italy, increasing the facility’s size from 5,000 to 12,000 square…
