World’s largest container shipping firm, Mediterranean Shipping Company (MSC) announced that it will introduce a “war surcharge” for cargo shipments to African nations and Indian Ocean islands from the Indian subcontinent and Gulf countries. MSC will introduce a war surcharge on cargo shipments from the Indian subcontinent and Gulf countries to Africa and Indian Ocean…
The escalating conflict in the Middle East is raising economic risks for many African countries as rising oil prices threaten to weaken currencies, worsen trade balances and push inflation higher across the continent. Rising tensions in the Middle East have pushed global oil prices higher, creating economic risks for many African countries that rely heavily…
Ghana has signed a bilateral debt restructuring agreement with Belgium as the West African country continues efforts to rebuild its finances after a deep economic crisis forced it to default on its debt in 2022. Ghana has signed a bilateral debt restructuring agreement with Belgium as it works to stabilise its economy after the 2022…
Rising geopolitical tensions involving Iran have pushed global oil prices sharply higher, creating potential economic gains for a small group of African oil exporters. Rising geopolitical tensions involving Iran have driven global oil prices higher, especially benefiting a few Sub-Saharan oil exporters. Nigeria, Angola, and Ghana are set to profit from the price surge, as…
A Canadian mining company, Stellar AfricaGold, has completed the first phase of drilling at its gold exploration site in Morocco and is moving quickly to expand operations after early results indicated promising mineralisation. Canadian miner Stellar AfricaGold has completed the first phase of drilling at its Tichka Est Gold Project in Morocco. Early results confirmed…
In the global mining industry, some of the most powerful figures operate quietly. One of them is Oskar Lewnowski, a metals investor who has spent decades financing mines but has rarely appeared in the public spotlight. A little-known mining financier is emerging as a key player in the global race for critical minerals. Oskar Lewnowski…
Tanzania has launched a major expansion of fuel infrastructure at the Port of Dar es Salaam, investing about $274 million (TZS 701.8 billion) to construct 15 new oil reception and storage tanks aimed at easing congestion and strengthening the country’s energy supply system. Tanzania has launched a $274 million (TZS 701.8 billion) project to build…
South Africa, similar to its move last year, has yet again offered to be a mediator in a major global conflict, this time between Israel and Iran. South Africa has once again offered to mediate in a significant global conflict, this time between Israel and Iran. President Cyril Ramaphosa stated that South Africa is ready…
Tourism remains a major economic engine across Africa, but in some countries, it is especially critical, contributing a significant share of national GDP and ranking among the most tourism-dependent economies globally. Business Insider Africa presents the top 5 African countries most dependent on tourism (Share of GDP). The data is from UN Tourism and the…
