Kenya’s political and economic landscape is increasingly shaped not only by voters but also by powerful, often invisible billionaire networks operating behind the scenes, according to a 2026 Oxfam report. A new Oxfam report warns that Kenya is drifting towards a rule of the rich, driven by secretive billionaire networks. Politically connected tycoons are shaping…
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Egypt has unveiled plans for a $1 billion mixed-use development on the Red Sea coast, showing its push to expand tourism capacity and attract more foreign investment into the sector. Egypt has announced a $1 billion mixed-use development project, the Monte Galala Towers and Marina, which will enhance tourism and foreign investment on the Red…
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India’s largest state-owned refiners have sharply increased purchases of crude oil from West Africa and the Middle East in a notable shift away from Russian supplies as New Delhi seeks to strengthen its negotiating position with Washington on a potential trade deal, industry sources say. Indian Oil Corporation has bought six million barrels of crude…
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The South African rand began the trading week firmer on Monday, gaining against the US dollar as key commodity prices recovered and the greenback eased. South Africa’s rand gained 0.5% against the US dollar on Monday, supported by higher gold and platinum prices. Gold climbed above $5,000 an ounce, boosting demand for commodity-linked currencies. A…
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As African countries stare down the barrel of potentially tougher global financial conditions in 2026, access to foreign exchange (FX), especially considering the debacle of the gold market, presents a very interesting challenge. African nations are preparing for more stringent global financial conditions expected in 2026, emphasizing the critical need for foreign exchange (FX) accessibility.…
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Oil has long been one of Africa’s most powerful economic assets. In Africa, Libya holds the largest proven oil reserves, estimated at 48.4 billion barrels, ranking ninth globally, according to the latest Global Firepower report. Business Insider Africa presents the top 10 African countries with the largest proven oil reserves in 2026. The list is…
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