Taifa Gas, the cooking gas company controlled by Tanzanian billionaire Rostam Aziz, is nearing the completion of a $124 million terminal in Mombasa aimed at breaking the duopoly controlling Kenya’s cooking gas imports. Taifa Gas, owned by Tanzanian billionaire Rostam Aziz, is finalizing a $124 million LPG terminal in Mombasa. The 30,000-tonne facility, with expansion…
A major battle over the cost of blockbuster diabetes and weight-loss drugs is unfolding in Africa as South Africa reviews 12 applications for generic versions of semaglutide, the active ingredient in Novo Nordisk’s Ozempic and Wegovy. South Africa’s health regulator is reviewing 12 applications for generic versions of semaglutide, the ingredient in Ozempic and Wegovy.…
Ghana has opened applications for new 5G spectrum licenses that could generate more than $200 million for the government, months after revoking an exclusive infrastructure agreement backed by Indian billionaire Mukesh Ambani. Ghana has launched a new 5G spectrum auction expected to raise over $200 million for the government. The National Communications Authority is offering…
Apple overtook Nvidia on Friday, July 17, 2026, to reclaim its position as the most valuable company in the world. Apple’s market share is growing rapidly in Africa, now accounting for over 15% of smartphones. Apple reclaimed the title of the world’s most valuable company from Nvidia on July 17, 2026. Nvidia’s shares dropped by…
West African leaders on July 19, 2026, signed an ECOWAS agreement approving the construction of a gas pipeline linking Nigeria to Morocco during a summit held in Freetown, Sierra Leone. West African leaders signed an ECOWAS agreement, to construct a $25 billion gas pipeline linking Nigeria to Morocco. The 6,000 km pipeline will transport natural…
A new report has revealed that China’s mining company, Zijin has started exporting lithium concentrate from its Manono project in the Democratic Republic of Congo. The shipments mark the first time the African country has exported lithium. Zijin, a Chinese mining company, started exporting lithium concentrate from the Manono project in the DRC. African countries…
South Africa intends to draw in $46 billion (750 billion rand) for an industrial push to establish initiatives classified as specialized industrial hubs. South Africa aims to attract $46 billion in investments by April next year to boost its manufacturing sector through specialized industrial hubs. The government plans to raise about R200 billion from various…
One of Africa’s biggest natural gas opportunities is entering a defining phase, but Mozambique’s local businesses have been told they cannot rely on government protection to secure a share of the country’s multibillion-dollar LNG industry. Mozambique’s LNG projects could unlock more than $50 billion in investment. Eni says local firms must meet global standards to…
Aliko Dangote is nearing the completion of a $2.5 billion private share placement for his refinery business, marking a major step toward what could become Africa’s largest initial public offering (IPO). Aliko Dangote is close to completing a $2.5 billion private share placement for his refinery, valuing it at about $40 billion. The private offering…
