Nigeria is set to launch a new credit guarantee firm aimed at boosting the country’s economy by facilitating access to credit for small and medium-sized enterprises (SMEs) and individuals. This move comes as part of a broader effort by the government to address the persistent challenges faced by businesses in accessing finance, which have long been a significant barrier to economic growth and…
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…
Nigeria, Africa’s largest economy and most populous nation, has intensified its push for support to join key global economic coalitions like BRICS (Brazil, Russia, India, China, and South Africa) and the G20. These groups are instrumental in shaping global economic policies and governance, and Nigeria’s inclusion would mark a significant milestone for the country and Africa at…
The increasing geopolitical complexity in Africa has prompted many nations to navigate carefully between the competing influences of BRICS (Brazil, Russia, India, China, and South Africa) and NATO-aligned nations, particularly the U.S. and Europe. African countries are striving to balance economic opportunities offered by BRICS while maintaining traditional partnerships with Western powers.
On…
Kenya recently canceled over $2.5 billion in contracts with India’s Adani Group after U.S. authorities indicted the company’s founder, Gautam Adani, and associates on bribery and corruption charges. President William Ruto made the announcement during a state address, citing information from international investigations as the basis for the decision. The deals, which included airport upgrades…
South Africa has officially declared its food poisoning crisis a national disaster following the deaths of 22 children since September, with the most recent incident involving six young victims in Naledi township, Soweto. The tragedy has been traced to the illegal use of a highly toxic pesticide, Terbufos, which is intended solely for agricultural purposes. This organophosphate, banned for…
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…
