The International Energy Agency’s (IEA) Global Critical Minerals Outlook 2024 forecasts that the combined market size of essential energy transition minerals will more than double, reaching approximately $770 billion by 2040. Investment Needs and Market Dynamics The report emphasizes the necessity of substantial additional investments to meet global energy and climate goals. Minerals such as […]
South African telecom leader Vodacom and French telecom giant Orange are in discussions to establish infrastructure partnerships across Africa, aiming to reduce connectivity costs and enhance rural access. According to sources cited by Bloomberg, the potential agreements would involve sharing infrastructure in overlapping markets, including Egypt and Congo. This collaboration seeks to make network rollout […]
In a recent report by the Financial Times, Kenya emerges as a notable contender in Africa’s business arena, securing the third position among countries with the fastest-growing companies. With an impressive eleven firms featured on the list of 125 rapidly expanding enterprises, Kenya showcases its resilience and innovation amidst economic challenges exacerbated by the COVID-19 […]
The Dow Jones Industrial Average crossed the 40,000 threshold for the first time on Thursday, reflecting investor optimism driven by expectations of potential U.S. interest rate cuts and strong corporate earnings. Despite this significant milestone, the market saw a slight pullback by the end of the trading session. The Dow reached an intraday high of […]
The United Nations (UN) has issued a warning that Egypt’s economy could suffer losses of up to $20 billion over the current and next fiscal years (FYs) 2023/2024 and 2024/2025 if the Gaza conflict continues to escalate. This forecast, highlighted in a recent UN study, outlines the significant economic risks posed by the ongoing regional […]
The Central Bank of Nigeria (CBN) has reiterated its commitment to addressing the nation’s rising inflation through continued interest rate hikes. Governor Olayemi Cardoso, in a recent interview with the Financial Times, assured that the Monetary Policy Committee (MPC) is dedicated to implementing necessary measures to stabilize the economy. Cardoso emphasized a strategic return to […]
Turkey and the World Bank have formalized a $1 billion agreement to enhance the country’s renewable energy sector. This strategic initiative aims to advance Turkey’s distributed solar energy market and pilot a battery storage program, aligning with global efforts to increase sustainable energy usage. The World Bank’s support will facilitate the deployment of distributed solar […]
In a significant step towards sustainable development, key stakeholders in Kenya’s environmental conservation sector are gathering in Nairobi to strategize on unlocking the nation’s potential as a global hub for green jobs and digital work. This initiative is being led by the government in collaboration with Jacob’s Ladder Africa, International Labour Organisation (ILO), United Nations […]
Morocco has unveiled a plan to nearly double its installed energy capacity by 2027, aiming to add 9 gigawatts (GW) to the current 11 GW. This initiative, announced by Energy Minister Leila Benali at a recent battery technology conference in Rabat, involves a $7 billion investment, with a substantial focus on renewable energy. Out of […]
The International Monetary Fund (IMF) has approved a new framework allowing its members to allocate Special Drawing Rights (SDRs) towards hybrid capital bonds issued by multilateral development banks (MDBs). This strategic move aims to enhance the lending capacity of MDBs, potentially unlocking up to $80 billion for critical development projects. Hybrid bonds, which blend debt […]
Kenya has enacted sweeping cybercrime legislation that imposes penalties of up to Sh20 million ($155,000) in fines or ten years...
Amazon Web Services (AWS) experienced a massive cloud infrastructure failure on Monday that cascaded across the globe, disrupting thousands of...
South Africa's luxury retail sector is poised for exceptional growth, with projections indicating a remarkable 15% expansion by 2025, positioning...
In a significant development for East Africa's telecommunications landscape, Atlas Tower has secured substantial backing from STOA, a French infrastructure...
