In a statement amid growing public discontent, the South African Communist Party (SACP) has firmly rejected the government’s proposed Value-Added Tax (VAT) increase and is calling for a comprehensive overhaul of the nation’s tax system. At a recent Political Bureau meeting, the SACP expressed its full backing for SARS commissioner Edward Kieswetter’s proposal for the […]

Tanzania’s mining regulator has mandated that all gold mining firms and traders sell at least 20% of their gold to the country’s central bank. This directive, which took effect in October following the enactment of new mining regulations, is part of a broader strategy by the Bank of Tanzania (BoT) to diversify its reserves and […]

In a historic display of government support and private sector dynamism, Nigerian fintech giant Flutterwave has received President Bola Tinubu’s unequivocal backing for its bid to list on the Nigerian Exchange Limited (NGX). This high-stakes meeting, held at the Presidential Villa in Abuja on February 23, 2025, brought together top leadership from Flutterwave, Alami Capital, […]

South Africa’s official unemployment rate edged down slightly in the fourth quarter of 2024, falling to 31.9% from 32.1% in the previous quarter, according to the latest Quarterly Labour Force Survey (QLFS) released by Statistics South Africa on February 18, 2025. While this marginal decline reflects a modest improvement with an increase of 132,000 employed […]

A new report by Sauti East Africa—a women-led social enterprise based in Kenya—has highlighted the crucial role that agricultural value chains play in driving East Africa’s economic growth. The study, published on February 20, 2025, at 10:09 am by journalist Madhumita Paul, provides an in-depth look at how micro, small, and medium enterprises (MSMEs) across […]

In a move aimed at restoring international trust and addressing decades-old disputes, Zimbabwe has announced plans to compensate 94 former white farmers of foreign origin who were displaced during the land reform program initiated under former President Robert Mugabe in the early 2000s. The government will pay a total of $146 million in compensation to […]

The 2025 Macroeconomic Performance and Outlook (MEO) report, released by the African Development Bank (AfDB) on Friday, February 14, 2025, presents a cautiously optimistic picture of Africa’s economic trajectory. Despite facing global economic uncertainties, inflationary pressures, and structural weaknesses, the continent is expected to see real GDP growth of 4.1% in 2025 and 4.4% in […]

Nigeria has successfully met the Organisation of Petroleum Exporting Countries (OPEC)’s crude oil production quota of 1.5 million barrels per day (bpd) for the first time since the quota was established in November 2023. This milestone, reported in OPEC’s January 2025 Monthly Oil Market Report, marks a significant turnaround for Africa’s largest oil producer, which […]

Saudi Arabia and Rwanda have taken a significant step toward enhancing their economic partnership by establishing a joint business council aimed at fostering bilateral trade and investment. The agreement was formalized during the Saudi-Rwandan Business Forum held in Kigali, Rwanda’s capital. The event saw the participation of a high-level delegation from the Federation of Saudi […]

Rising diplomatic tensions between the United States and South Africa are sending economic shockwaves throughout Southern Africa, with Namibia’s central bank governor warning that the dispute could have serious repercussions for Namibia’s financial stability and overall economic growth. At the heart of the issue is President Donald Trump’s recent executive order freezing all U.S. aid […]