Roughly 49% of South Africa’s refining capacity remains idle. Over the past five years, South Africa’s refining capacity has been cut in half due to a combination of accidents and underinvestment. Nearly half of South Africa’s refining capacity is currently idle. Domestic refining has declined due to accidents and underinvestment, halving capacity over five years.…
The United States Mission in Nigeria has issued a security alert to American citizens and expatriates following a suspected bombing near the Mogadishu Barracks in Abuja. The US Mission in Nigeria issued a security alert following a suspected bombing near the Mogadishu Barracks in Abuja. The explosion resulted in one fatality, identified as the suspected…
The African Development Bank (AfDB) has announced a record $11.1 billion in new investments for 2024–2025. The African Development Bank (AfDB) has announced $11.1 billion in investments for 2024-2025, marking record new commitments. $5.5 billion of the funding is devoted to climate finance to promote inclusive growth and resilience. The Bank’s progress aligns with its…
In 2024, African countries collectively lost tens of millions of euros in non-refundable application fees due to European Union (EU) visa rejections, indicating a growing financial and mobility burden for African travelers. Business Insider Africa presents African countries that lost the most money to E.U. visa rejections The ranking is courtesy the LAGO Collective Nigeria…
The tone of Nigeria’s debt conversation in less than a month has pivoted from jubilant to concerned, owing to the intent of President Bola Tinubu to borrow more money, despite recently clearing its IMF debts. President Bola Tinubu proposes additional borrowing to finance key sectors including infrastructure, agriculture, and healthcare. The new loan could potentially…
Egypt’s economic challenges are seemingly being mitigated per the International Monetary Fund (IMF), as it only needs to widen its tax base to completely recover from one of its worst economic hits in recent history. Egypt faces ongoing economic challenges but has made strides in stabilizing its macroeconomy, according to the IMF. The IMF conducted…
The United States is reviewing the future of its military command for Africa, according to the top U.S. general for the continent, The United States is evaluating the future structure and role of AFRICOM, its military command for Africa, amid discussions on potential changes. General Michael Langley emphasized the significance of African governments voicing their…
South African President Cyril Ramaphosa says his plan to boost the economy by launching major construction projects has attracted a record 238 billion rand (about $13.3 billion) in investment. South African President Cyril Ramaphosa announced a record investment of 238 billion rand aimed at major construction projects to boost the economy. The planned projects cover…
Oil shipping routes are vital arteries of the global energy trade, linking major production centers to key consumption markets worldwide. Business Insider Africa presents the 10 most important crude oil shipping routes The list is courtesy of Marine Insights The Middle East is the largest oil-exporting region, with shipments reaching Europe, Asia, and the Americas.…
