Cameroon has made headlines by becoming the first importer of petroleum products from the Dangote Refinery, Africa’s largest oil refinery, based in Nigeria. This milestone marks a significant step in the continent’s effort to strengthen intra-African trade and reduce reliance on foreign oil imports.
The Dangote Refinery, commissioned in 2023, is a multi-billion-dollar project led by…
The European Union (EU) has announced a $96 million loan to Cameroon aimed at bolstering the country’s infrastructure and supporting sustainable development. This funding aligns with the EU’s broader objectives of fostering economic growth, enhancing connectivity, and improving living standards in Africa.
The loan is primarily targeted at modernizing Cameroon’s transportation and…
In a strategic move that underscores its growing economic influence, Algeria has officially joined the BRICS Bank, now known as the New Development Bank (NDB). This milestone marks a significant expansion of the NDB’s reach and represents a new chapter in Algeria’s economic and geopolitical positioning.
The announcement was made at the BRICS summit in Johannesburg, where Algerian President…
The idea of Africa reclaiming its gold from the West taps into a complex web of historical, economic, and geopolitical issues. Historically, Africa has been a treasure trove of resources, including gold, which has often been exploited by colonial and post-colonial powers. The legacy of this exploitation has had long-lasting impacts on the continent’s development and its relationship with the…
Libya’s oil production has recently come to a halt amid a deepening power struggle involving the country’s central bank, highlighting the severe impact of political instability on one of Africa’s largest oil producers.
Background:
Libya has long been a significant player in the global oil market, with its vast reserves and production capacity playing a crucial role in the…
The Libyan Central Bank has resumed full operations following a dramatic turn of events involving the release of a high-profile hostage. The incident, which had previously disrupted the bank’s functions, has highlighted both the volatility of Libya’s political landscape and the critical role of financial institutions in maintaining national stability.
The hostage situation unfolded…
Botswana Oil Ltd., the primary distributor of petroleum products in Botswana, has recently issued a warning about a potential shortage of unleaded petrol 93, a crucial fuel type used across the country. The warning, released in late July 2024, has raised concerns among consumers and businesses alike about possible disruptions to fuel supply and its broader economic impacts.
According to…
