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Steven Addamah
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South Africa: Zuma survives no confidence vote, Dubai exit plan exposed

South Africa’s President Jacob Zuma has survived another vote of no confidence this weekend despite a spate of recent corruption scandals, cabinet sackings and his handling of the economy. President Zuma has been under increasing pressure to step down from party veterans and members of the African National Congress’s communist and union alliance partners in […]

Equatorial Guinea approved as 14th OPEC member

Equatorial Guinea has officially joined the Organization of Petroleum Exporting Countries (OPEC) as 14th member on Thursday, Reuters reported. Africa’s third biggest oil producer applied to join the organization in January. “Equatorial Guinea’s joining of OPEC is a triumph. This is a proud moment for us,” said the Minister of Mines and Hydrocarbons, Gabriel Mbaga […]

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South Africa’s April inflation falls to 5.3 percent

Consumer Price Inflation (CPI) decelerated from 6.1 percent, year-on-year in March to 5.3 percent in April, Statistics South Africa announced on Wednesday. The South African Central Bank, which is due to announce its latest interest rates this week, targets annual CPI of between 3 percent and 6 percent. Food and non-alcoholic beverages decreased from 1.5 […]

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Cape Verde boosts economic ties with China

Chinese Foreign Minister Wang Yi this weekend announced major development projects in Cape Verde as the two nations are looking to further deepen bilateral ties. Visiting the West-African Archipelago, Wang Yi told reporters that the two countries agreed to work towards developing the Island’s marine economy. China welcomes Cape Verde to participate in the “Belt […]

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AU Commission backs African candidate for WHO top position

The Chairperson of the African Union Commission (AUC), Moussa Faki Mahamat, and the continent’s richest man, Aliko Dangote on Monday took to Twitter to endorse Ethiopia’s former health and foreign affairs minister, who is a front-runner to become Director-General of the World Health Organization (WHO). Africa, Europe and South Asia are vying for the top […]

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Wealth of 5 Nigerians can end poverty in Nigeria – Oxfam

The combined wealth of five richest Nigerians, put at $29.9 billion, is enough to end poverty in the West African nation, according to Inequality report released by Oxfam International on Thursday. The report titled ‘Inequality in Nigeria – Exploring the drivers,’ said despite the current economic recession in the African most populous nation, “a small […]

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Chinese firm to build 120-MW wind farm in Ethiopia

China’s Dongfang Electric Corporation will build a 120-megawatt (MW) wind farm in Ethiopia’s Somali regional state, Chinese state-run news agency reported on Thursday. According to PR and Communication Director of the Ministry of Water, Irrigation and Energy, Bizuneh Tolcha, the project will be launched by the coming July. “The wind farm project is expected to […]

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European Union bans AirZim from its skies

Air Zimbabwe, a state-run airline regularly used by President Mugabe on his overseas trips, has been blacklisted by the European Union (EU) from operating in EU skies. Zimbabwe’s national carrier, Air Zimbabwe, is one of four airlines added to the list “due to unaddressed safety deficiencies that were detected by the European Safety Agency,” local […]

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Angola’s inflation slows to 34.8 percent

Angola’s inflation slowed to 34.8 percent year-on-year in April, data from the national statistics agency’s website show on Wednesday. According to the Agency, price in the oil-rich nation increases on a month-on-month basis slowed 1.8 percent in April compared to a 1.91 percent previously. Angola’s government last month indicated that inflation this year would ease […]

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AfDB releases $750 million loan to support Namibia

African Development Bank on Friday released $750 million loan to finance budget deficit and infrastructure projects in Namibia, Finance Minister Calle Schlettwein said. According to Reuters, Namibia, which registered one of the highest average growth rates in Africa over the past 20 years, is facing a severe cash crunch that has resulted in budget cuts, […]

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