economy

In 2023, South Africa faced a crippling power outage crisis that cost the nation an estimated $155 billion, severely impacting its economy and daily life. The crisis, marked by frequent and prolonged blackouts, highlighted the country’s ongoing struggles with energy supply and infrastructure challenges. South Africa’s power utility, Eskom, has long been plagued by aging…

South Africa has recently achieved a significant milestone by setting a new record in its exports, reflecting the country’s resilience and growing economic potential despite ongoing global challenges. The nation has consistently been a key player in global trade, with its diverse economy comprising sectors such as mining, agriculture, manufacturing, and services. This record-breaking performance…

Ethiopia has recently expressed its openness to increased Russian investment, marking a significant step in strengthening economic ties between the two nations. This development comes at a time when Ethiopia is striving to diversify its foreign investments and enhance its economic growth prospects. Russia, which has historically had strong political and military relationships with Ethiopia, is now…

As gold prices surge globally, Ghana, one of Africa’s largest gold producers, finds itself grappling with a worsening crisis of illegal mining, also known as “Galamsey.” While the high demand for gold has brought economic opportunities, it has also fueled an environmental and social disaster in the West African nation. The illegal mining industry has been a source of livelihood for…

Nigeria has officially become the ninth member of the BRICS partnership, a significant development that marks a new phase of economic and geopolitical engagement for both the African nation and the global economic bloc. The BRICS group, which originally consisted of Brazil, Russia, India, China, and South Africa, has gradually expanded to include additional countries over the years, and…