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 […]

Ghana’s economy is facing one of its most severe crises in years, grappling with double-digit inflation, a weak currency, and mounting public debt. In response to the escalating inflationary pressures, the country’s central bank has taken bold action by raising its benchmark lending rate by an unexpected 50 basis points, bringing it to a staggering […]

The BRICS group of nations, comprising Brazil, Russia, India, China, and South Africa, is set to witness a significant expansion as more than 40 countries have expressed their keen interest in becoming part of this influential alliance. South Africa, the current chair of BRICS and a key mediator, revealed that while 22 countries had formally […]

In a move to safeguard its food sovereignty and maintain social peace, Guinea’s ruling junta has announced the suspension of several crucial agricultural exports for a period of six months. The decision, which includes staples like rice, potatoes, and palm oil, is aimed at preserving stocks ahead of the upcoming harvests, according to a trade […]

In a positive turn of events, South Africa’s inflation has taken a steep plunge, landing within the central bank’s target range for the first time in over a year. According to official data released by the national statistics agency StatsSA on Wednesday, annual consumer price inflation fell to 5.4 percent in June, down from 6.3 […]

Ajay Banga, the recently appointed President of the World Bank, has revealed a groundbreaking set of measures aimed at ramping up lending to the world’s most impoverished nations. As part of the Bank’s strategic shift towards combating climate change and pandemics, Banga’s initiatives are poised to unlock substantial financial resources and foster sustainable development worldwide. […]

Lagos, Nigeria – In a historic development for Nigeria’s oil industry, Africa’s largest oil refinery was commissioned in Lagos today by outgoing President Muhammadu Buhari. The long-awaited project, spearheaded by Africa’s richest person, Aliko Dangote, is set to breathe new life into Nigeria’s struggling oil sector, which has faced challenges due to under-performing state-run refineries […]

With a population of nearly 20 million, Zambia is Africa’s largest copper producer. As the nation faces economic challenges, its leadership is determined to navigate the obstacles and steer LUSAKA – Zambia’s economic growth is expected to decelerate in 2023, with the nation’s GDP projected to grow by just 2.7%, down from the 4.7% growth […]

Accra – Ghana is eagerly anticipating the launch of its state-of-the-art oil refinery facility in Tema, which is scheduled to commence operations by the end of August. The project, spearheaded by the Sentuo Group, represents a significant investment of $1.98 billion and promises to revolutionize the country’s energy sector. The Sentuo Group’s refinery is expected […]