In a bold demonstration of its commitment to fueling Africa’s economic transformation, the Tony Elumelu Foundation (TEF) has unveiled a $15 million grant program designed to empower 3,000 budding entrepreneurs across 52 African countries. Announced by TEF Founder Tony Elumelu during a high-profile event in Abuja on March 23, 2025, this initiative underscores the foundation’s […]

In a powerful demonstration of Africa’s commitment to a sustainable future, the African Development Bank Group (AfDB) actively participated in the third edition of Africa’s Green Economy Summit (AGES), held in Cape Town, South Africa, from 18 to 21 February 2025. Hosted by the African Union (AU), this annual summit brought together a diverse array […]

 In a decisive move to foster a more conducive business environment, Zimbabwe’s government has announced an extensive review of taxes and regulatory fees that will be completed within the next six months. The overhaul aims to cut costs for businesses by reducing some fees by half and eliminating others entirely, as part of a broader […]

In a sign of cautious optimism amid a challenging fiscal environment, ratings agency Moody’s expects South Africa’s coalition government to eventually forge a compromise that will allow the long-delayed budget to pass—albeit with some adjustments to contentious fiscal measures. The anticipated compromise comes as the Government of National Unity (GNU) grapples with internal disagreements over […]

In a stunning policy shift that is sending shockwaves through Rwanda’s development community, the Trump administration has announced the closure of 83 percent of USAID programs. The decision, which affects approximately 5,200 contracts worldwide—including several key initiatives in Rwanda—is already inflicting severe consequences on local humanitarian and development projects. With hundreds of jobs on the […]

In a decisive move aimed at transforming its automotive landscape, South Africa is set to invest R1 billion (approximately $54.27 million) to support the local production of new energy vehicles (NEVs) and batteries, along with related manufacturing projects. Announced by the National Treasury on March 14, 2025, this strategic initiative is designed not only to […]

 In a stark warning of a deepening humanitarian and economic crisis, the World Bank has projected that South Sudan will experience universal poverty in 2025. According to its latest “South Sudan Economic Monitor” report, the combination of a steep decline in oil production, severe external shocks, skyrocketing inflation, and the aftermath of natural disasters is […]

Africa’s economic recovery appears set to continue, with the United Nations Economic Commission for Africa (UNECA) projecting that the continent’s gross domestic product (GDP) growth will rebound to 3.8% in 2025 and further accelerate to 4.1% in 2026. The report, released during the 57th session of the Economic Commission for Africa: Conference of African Ministers […]

In a landmark move aimed at deepening regional integration and boosting economic resilience, the Economic Community of West African States (ECOWAS) Commission and the West African Institute for Financial and Economic Management (WAIFEM) have reaffirmed their commitment to collaborative reform. This partnership seeks to enhance financial governance, promote sustainable growth, and prepare the region for […]

In a bold move aimed at addressing widespread concerns over mismanagement and inefficiencies in the housing sector, the Nigerian House of Representatives has mandated its Committee on Public Assets to investigate the Family Homes Fund Limited. The probe comes amid growing alarm over the utilisation of N1.5 trillion (approximately $662 million) approved for the construction […]