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In a striking economic turnaround, Malawi has witnessed a notable surge in its tobacco sales, a cornerstone of the country’s foreign exchange earnings. The most recent season’s sales catapulted to an impressive $282 million, a remarkable leap from the preceding year’s figure of $182 million, according to authoritative statements from the nation’s industry regulator. This […]

Nigeria’s energy landscape is about to undergo a revolutionary transformation as the World Bank joins hands with the government and the private sector to fund the construction of 1,000 mini solar power grids. The ambitious initiative was unveiled by World Bank President, Ajay Banga, during his visit to a mini grid site on the outskirts […]

In a remarkable turn of events, S&P Global Ratings has revised Nigeria’s outlook from negative to stable, attributing this positive shift to the decisive fiscal reforms championed by President Bola Tinubu. This significant alteration not only signals a potential turning point for the largest economy in Africa but also ignites a sense of optimism within […]

n a groundbreaking move, the United Kingdom and Zambia have cemented a strategic economic partnership during the visit of British Foreign Secretary, James Cleverly, to Africa. This unprecedented collaboration promises significant economic gains for both nations, reinforcing their commitment to sustainable development and advancing the global clean energy transition. The UK-Zambia Green Growth Compact, a […]

In the aftermath of a military coup in Niger, the global uranium market has shown signs of potential upheaval, with the spot price of uranium experiencing a slight rise. As the world’s seventh-largest producer of uranium, Niger’s political situation has drawn the attention of experts and investors, who are closely monitoring the developments for potential […]

Nigeria’s President Bola Tinubu defended the nation’s decision to remove fuel subsidies in a recent national broadcast. The move, which has faced criticism due to its impact on the economy, has already saved over $1.32 billion in just two months. In an evening address to the nation, President Tinubu acknowledged the economic hardships that followed […]

In the wake of last week’s coup in Niger, the West African nation has been dealt a major blow to its financial stability as countries around the world condemn the military uprising. The Central Bank of West African States (BCEAO) has cancelled a planned 30 billion CFA franc ($51 million) bond issuance by Niger in […]

The International Monetary Fund’s (IMF) Executive Board convened to discuss the first review of Malawi’s 12-month Staff-Monitored Program (PMB) with Executive Board involvement. The program, greenlit by the IMF Management on July 13, 2023, has been under close scrutiny due to the country’s resilience in the face of multiple challenges. Malawi has confronted a series […]

As African leaders converge in St. Petersburg for the second Russia-Africa Summit. With 49 African delegations and 17 heads of state in attendance, the two-day summit and economic forum offer a unique opportunity to explore key areas of cooperation between Russia and Africa. Top on the summit’s agenda are discussions surrounding food security and the […]

In the midst of a severe food crisis across Africa, the exorbitant cost of imported fertilizers is adding fuel to the fire, exacerbating food insecurity and hampering agricultural production. Recent data from the African Market Observatory reveals that global fertilizer suppliers have enjoyed record-breaking profits, with the top nine producers tripling their earnings in 2022 […]