South Africa is mounting a formal challenge to a new U.S. tariff proposal that could further strain trade ties between Africa’s most industrialized economy and one of its most important export markets. South Africa is formally challenging a new U.S. tariff proposal to protect its key export sectors from further strain. The U.S. recently imposed…
South Africa has agreed to reopen its market to Kenyan tea, coffee and spices, marking the end of a trade dispute that had strained economic relations between two of Africa’s largest economies. South Africa has agreed to reopen its market to Kenyan tea, coffee, and spices, ending a significant trade dispute. The dispute resulted from…
For decades, Africa’s vast informal economy has been one of the continent’s most persistent development challenges, limiting tax collection, weakening productivity, and keeping millions of workers and businesses outside the formal financial system. Rwanda, Benin, Tanzania, and Côte d’Ivoire are among Africa’s strongest performers in reducing informality, according to Moody’s. The ratings agency says countries…
South African billionaire Johann Rupert built his fortune selling luxury goods to some of the world’s wealthiest consumers. Johann Rupert’s Reinet Investments bought a €22 million stake in the world’s largest gold ETF in 2015. The position is now worth about €80 million after gold’s historic rally. Gold prices have climbed from around $1,100 per…
According to billionaire investor Naguib Sawiris, Egypt’s vast mineral wealth is being squandered due to illicit mining operations, which are weakening investment and preventing the country from fully benefiting from its tremendous natural resources. Naguib Sawiris, Egypt’s richest man, criticized the widespread illegal mining in Egypt, claiming it squanders the nation’s mineral wealth. He attributed…
One of Nigeria’s most closely watched corporate battles took a dramatic turn this week after the Supreme Court overturned orders that froze the assets of Nestoil Limited and Neconde Energy, handing a significant victory to oil entrepreneur Ernest Azudialu-Obiejesi in a dispute involving more than $1.1 billion in alleged debt. Nigeria’s Supreme Court has overturned…
Mozambique has enacted sweeping new mining legislation requiring the state to hold a minimum 15% stake in all mining projects, as the resource-rich southern African nation seeks to capture a larger share of the value generated by its vast mineral wealth. Mozambique has enacted new mining laws requiring a minimum 15% state stake in all…
The French journalist, Christophe Gleizes, detained in Algeria back in 2024, on terror charges, maybe elibgible for a presidential pardon. French journalist Christophe Gleizes, detained in Algeria on terror charges, may now be eligible for a presidential pardon. Algeria’s top appeals court rejected calls for a harsher sentence, making the prospect of a pardon viable.…
Flights numbering around 20 have arrived in Kenya, despite tensions concerning the US’s plans to establish a quarantine base in the East African country. Around 20 flights carrying medical equipment and specialist staff have arrived in Kenya, amid controversy over Washington’s plan to establish a US quarantine base for Ebola exposure. At least six military…
