A Continental Call to Action The United Nations World Tourism Organization (UNWTO) has launched a groundbreaking initiative aimed at elevating Africa’s tourism profile and unlocking its vast investment potential. This strategic move, driven by the Regional Commission for Africa’s forum, marks a significant moment in the continent’s tourism landscape. The forum, themed “Promoting Africa to […]
In a move that has electrified the East African business landscape, Tanzanian billionaire Mohammed “Mo” Dewji has announced a monumental $100 million investment into the Rwandan economy. This significant commitment by the chairman of MeTL Group, Tanzania’s largest conglomerate, underscores his confidence in Rwanda’s impressive economic trajectory. Dewji, renowned for his keen business acumen and […]
In a move sparking heated debate, the Nigerian government is proposing a hefty 50% tax on banks’ foreign exchange (FX) gains from 2023. This surprise announcement, championed by Finance Minister Wale Edun and FIRS Chairman Zacch Adedeji, aims to balance the country’s struggling economy, but some fear it could be a risky tightrope walk. Balancing […]
Lithium: The “White Gold” of the Electric Vehicle Revolution Lithium, often referred to as “white gold,” is a game-changer in the electric vehicle (EV) revolution. Its lightweight and high electrochemical potential make it a cornerstone for rechargeable batteries, which are the heart of EVs. With environmental concerns driving the shift towards cleaner energy and government […]
In a bold move aimed at revitalizing South Africa’s ailing transportation sector, the African Development Bank (AfDB) has approved a $1 billion loan to Transnet. This substantial financial injection is more than just a lifeline; it represents a pivotal moment for South Africa’s economic prospects. However, the path to recovery is fraught with challenges that […]
In an ambitious move to boost infrastructure and improve living standards, the Kano State Government has approved a whopping N29 billion ($17.9 million) for various capital projects. This substantial investment reflects the government’s determination to drive socio-economic development and improve the quality of life for its residents. Governor Yusuf’s Bold Vision for Kano Governor Abba […]
Innovate Africa has just launched a $2.5 million angel investment fund aimed at supporting early-stage startups. This initiative is all about helping entrepreneurs with innovative ideas tackle big issues like insecurity, unemployment, and poverty through technology. Backing New Entrepreneurs Innovate Africa plans to support up to 20 startups in its first year, offering an average […]
Tanzania is making strides to attract more foreign investments by proposing important legal changes aimed at helping Tanzanians living abroad start businesses back home. The proposed Miscellaneous Amendments Bill 2024 would give special status to Tanzanians abroad, allowing them to invest in key sectors like agriculture, manufacturing, and services. Currently, only Tanzanian citizens can own […]
Located strategically on the West Africa Transform Margin, Liberia highlighted its robust petroleum systems, backed by extensive seismic data in the Liberia and Harper basins. Logan drew comparisons with successful ventures in Ghana’s Jubilee field and discoveries in Guyana, emphasizing Liberia’s readiness to tap into significant reserves. “In recent months, there’s been growing interest from […]
The United Kingdom has decided to stop its plan to deport asylum seekers to Rwanda, marking a significant change in policy and ending a scheme that faced strong criticism for its perceived harshness. Rwanda’s government responded for the first time, acknowledging the UK’s decision to end the deportation program. They emphasized that the deal, initiated […]
