In a bold declaration that signals a profound shift in its foreign policy and economic strategy, Saudi Arabia has unveiled plans to dramatically deepen its engagement with the African continent. This strategic pivot, announced by Saudi Deputy Minister of Foreign Affairs Walid Al-Khereiji, includes an aspiration to invest an astounding $25 billion across Africa, alongside […]

In a resounding declaration of a new era in U.S.-Africa relations, the 17th U.S.-Africa Business Summit has concluded with an unprecedented announcement: over $2.5 billion in new deals and commitments between the United States and its African partners. This landmark achievement, highlighted by the U.S. State Department, emphatically underscores a strategic shift in American foreign […]

In a significant move set to accelerate sustainable economic development and infrastructure growth across the African continent, the African Development Bank (AfDB) and the Asian Infrastructure Investment Bank (AIIB) have officially renewed their collaborative agreement. The Memorandum of Understanding (MOU), signed on Saturday, June 28, by AfDB President Dr. Akinwumi Adesina and AIIB President and […]

In a momentous stride for its industrial and economic landscape, Egypt has officially inaugurated the first home appliance factory for BSH Hausgeräte GmbH – the German-owned giant behind the globally renowned Bosch brand – on the African continent. This landmark facility, representing a substantial investment exceeding €55 million (approximately $64.50 million USD), marks a pivotal […]

In a landmark decision poised to reshape its economic landscape, Ethiopia’s central bank has introduced a long-anticipated directive permitting foreign banks and investors to operate within its financial sector. This milestone signals a significant advance in the nation’s ongoing economic liberalization efforts and follows the parliamentary approval of a revised banking law in December 2024. […]

In a landmark move poised to reshape Africa’s economic and environmental landscape, the Nigerian Sovereign Investment Authority (NSIA) has officially launched an ambitious pan-African investment platform. This groundbreaking initiative aims to mobilize a staggering $50 billion in blended finance by 2030, specifically targeting critical sectors such as infrastructure, agriculture, and climate-resilient projects across the continent. […]

In a significant stride towards fostering sustainable development and accelerating regional integration across Africa, the Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today announced that the Republic of Angola has become its latest sovereign shareholder. This pivotal equity investment not only deepens an already robust partnership but also serves as a resounding […]

In a significant move set to accelerate critical infrastructure development across Africa, the Africa Finance Corporation (AFC), a leading pan-African multilateral development financial institution, has successfully secured a EUR 250 million 10-year term loan from Cassa Depositi e Prestiti (CDP), Italy’s prominent National Promotional Institution and Financial Institution for Development Cooperation. Announced on June 23, […]

In a monumental development poised to reshape its economic future, the government of Malawi has officially sealed a landmark $7 billion agreement with the Chinese conglomerate, Hunan Sunwalk Technology Group. This pact, representing the single largest foreign investment in the nation’s burgeoning mining sector, is set to unlock the vast potential of Malawi’s mineral resources, […]

In a monumental stride towards fostering robust economic development and sustainable growth across East Africa, the East African Development Bank (EADB) has officially inked its largest single financing agreement to date with the OPEC Fund for International Development. The landmark deal, formalized on Wednesday at the OPEC Fund’s headquarters in Vienna, secures a substantial US$40 […]