Nigeria’s push to rebuild domestic energy capacity received a major boost after Heirs Energies secured a $750 million financing facility from the African Export-Import Bank, one of the largest Africa-backed energy deals closed this year. Heirs Energies secured a $750 million financing facility from Afreximbank to expand domestic energy production in Nigeria. The funding aims…
For a few African countries, 2025 was characterized by acute fuel shortages, skyrocketing energy costs, and crippling supply disruptions that impacted everything from national security to education and economic stability. The Central African Republic had the highest fuel prices, with Zimbabwe, Malawi, Seychelles, Sierra Leone, Burkina Faso, Senegal, Cameroon, Uganda, Morocco, and Kenya often in…
Nigeria’s Lekki Deep Sea Port has registered roughly 13.46 trillion naira in combined imports and exports over the first nine months of 2025, equivalent to about $9.3 billion at current exchange rates. Lekki Deep Sea Port processed an estimated $9.3 billion worth of trade in its first nine months of the year. The performance has…
The global cryptocurrency industry lost more than $3.4 billion to theft in 2025, with North Korea-linked actors responsible for the majority of the stolen funds, according to Chainalysis’ latest Crypto Crime Report. The global cryptocurrency industry lost $3.4 billion to theft in 2025, with North Korean actors responsible for a significant portion. Africa’s rapidly expanding…
Johannesburg-born 108-year-old Anglo American Plc, a diversified global mining company, has received Canadian regulatory approval to merge with Canada’s Teck Resources Ltd., creating a $69 billion mining powerhouse and one of the largest transactions on record. Anglo American Plc, founded in South Africa, announced a merger with Canada’s Teck Resources Ltd., forming a $69 billion…
The Central African Republic (CAR) has embraced opaque cryptocurrency initiatives that may expose state assets to foreign criminal networks. The Central African Republic (CAR) adopted Bitcoin as legal tender in 2022, becoming the first African nation to take this step. President Faustin-Archange Touadéra supports cryptocurrencies, claiming they will fund infrastructure and development projects. The GI-TOC…
Through a combination of nuclear agreements, cultural exchanges, economic partnerships, and military cooperation, Russia is increasing its presence in Africa as the continent continues to chart its path toward greater economic self-reliance. Russia is deepening its presence in Africa through nuclear agreements, cultural exchanges, commercial partnerships, and military cooperation. Sergey Vershinin expressed Russia’s goal to…
Burkina Faso has released 11 Nigerian Air Force (NAF) pilots and crew members nine days after their detention, following high-level diplomatic intervention by the Nigerian government, easing tensions that had threatened to escalate into a wider diplomatic dispute between the two West African neighbours. Burkina Faso released 11 Nigerian pilots and crew after a diplomatic…
Dr. Awele Vivien Elumelu, a soft-spoken, low-profile business executive and investor, has been appointed chair of the board of Transcorp Hotels Plc, one of Africa’s most prominent hospitality companies. Dr. Awele Vivien Elumelu has been appointed chair of the board of Transcorp Hotels Plc from January 1, 2026. Transcorp Hotels Plc is a prominent Nigerian…
