The South African rand advanced on Monday, buoyed by reports that the ruling African National Congress (ANC) may abandon plans for a value-added tax (VAT) hike in the upcoming budget. The news comes at a critical juncture, as domestic political debates intersect with shifting global market conditions, including a weaker dollar that has provided some […]

In a groundbreaking display of unity and determination, the World Chambers Federation (WCF) Africa Summit 2025 has emerged as a crucial platform for South Sudan to map a sustainable and inclusive economic path. Held in Nairobi and drawing over 4,500 delegates from more than 70 countries, the summit provided South Sudanese officials and businesses with […]

In a significant milestone for Somalia’s long-suffering economy, the government in Mogadishu has signed a $306.5 million debt relief deal with the Arab Monetary Fund (AMF). The agreement, announced on April 10, 2025, in a ceremony held in Kuwait, is being celebrated as a critical step forward in Somalia’s ambitious economic reform programme. This deal […]

South Africa, Africa’s largest economy, is at a crossroads. Amid persistent infrastructural deficits—especially in energy and logistics—and sluggish economic growth, the country is grappling with a crisis that has deepened over the past decade. Chronic issues such as load-shedding and inefficient transport networks have undermined productivity, leaving the nation with stagnant growth rates, soaring unemployment, […]

The African Development Bank (AfDB) is mobilizing $2.2 billion to develop agricultural processing zones in 28 states across the country. This ambitious project is aimed at creating state-of-the-art facilities that process agricultural produce much closer to the source—directly at or near the farms—to reduce post-harvest losses, strengthen value chains, and ultimately create millions of jobs […]

In a climate of economic uncertainty and fiscal strain, Zimbabwe finds itself wrestling with a staggering US$1.2 billion debt owed to infrastructure contractors. This mounting arrears issue has sent ripples through the nation’s development agenda as stalled public projects—from major roadways to vital dam constructions—face delays due to liquidity challenges. Amid heightened public scrutiny and […]

The African Digital Economy & Inclusivity Conference (AFDEIC) 2025 is set to light up Abuja from August 12 to 14, 2025, as the continent’s top policymakers, business leaders, tech innovators, academics, and development partners converge to discuss how artificial intelligence (AI), robust digital infrastructure, and inclusive policies can drive Africa’s burgeoning digital economy. With projections […]

In a move that has sparked intense debate across the country, South Africa’s parliament approved a controversial budget framework on Wednesday, despite fierce opposition from the centre-right Democratic Alliance (DA). The budget, which includes a gradual increase in the Value Added Tax (VAT) that will see the rate rise to 16 percent by the fiscal […]

In a significant development for global energy markets, Asia is poised to receive an additional shipment of fuel oil from Nigeria’s flagship Dangote refinery this April. This move, announced via the refinery’s latest tender, underscores Nigeria’s expanding role as a key supplier of refined petroleum products to Asia’s energy-hungry markets. With the cargo scheduled for […]

In a bold stride toward redefining Africa’s economic future, Afrik—a pioneering decentralized finance and governance platform—made headlines at the Global AI Summit in Rwanda. Set against the vibrant backdrop of Rwanda’s emerging digital landscape and hosted by President Paul Kagame alongside the Centre for the Fourth Industrial Revolution (C4IR), the summit gathered top leaders, policymakers, […]