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AfricaEconomy

Kenya cancels more than $2.5bn in deals with Adani after US indictment

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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…
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AfricaDisasterEconomy

South Africa declares food poisoning crisis a national disaster

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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…
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AfricaBusinessEconomy

EU pledges $96M loan to Cameroon to boost infrastructure

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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…
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AfricaEconomy

Mountain collapses in DR Congo revealing tonnes of copper

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A dramatic geological event in the Democratic Republic of Congo (DRC) has unveiled a massive deposit of copper, drawing both excitement and concern. The collapse of a mountain in the country’s southern Katanga region, known for its rich mineral resources, revealed tonnes of copper, a key material in the global transition to renewable energy. Copper is essential for the production of electrical…
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AfricaEconomy

Nigeria's inflation rate surges as food prices escalate

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Nigeria is grappling with a sharp rise in inflation, driven primarily by soaring food prices. The latest data from the National Bureau of Statistics (NBS) reveals that inflation has climbed to its highest levels in years, putting immense pressure on households and businesses. Food Prices as the Main Driver Food inflation remains the biggest contributor to the overall surge. Staples such as…
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AfricaEconomy

DRC on a mission to financing the world's largest hydropower dam

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The Democratic Republic of Congo (DRC) is on a mission to secure financing for what is set to become the world’s largest hydropower dam, the Inga III project. Located along the Congo River, the dam has the potential to provide an immense boost to both the country’s energy sector and the broader African continent. However, despite its vast potential, the project has faced significant hurdles in…
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AfricaEconomy

Kenya relocates 50 elephants to a larger park as population thrives

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Kenya has recently taken significant steps to relocate 50 elephants from its bustling national parks to a larger, more suitable habitat. This initiative comes as part of a broader conservation effort in response to the thriving elephant population, which has been steadily increasing due to successful wildlife management and anti-poaching measures. The relocation project focuses on enhancing the…
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