Shell Abandons Namibian Oil Project after $400 Million Investment
A major setback has struck Namibia’s aspirations to join the ranks of oil-producing nations as energy giant Shell announces the commercial unfeasibility of its offshore […]
Business
South African Manufacturing Shrinks Again as Demand Weakens
South Africa’s manufacturing sector posted its second consecutive monthly decline in December 2024, reflecting ongoing pressure from subdued domestic and international demand. According to the […]
Fuel prices rise 1.23% in January in Cape Verde
The Multisectoral Economic Regulatory Authority (ARME) has announced its latest adjustments to fuel prices in Cape Verde, set to take effect on January 1, 2025. […]
São Tomé and Príncipe’s economy stagnates for a second year
The Governor of the Central Bank, Américo Ramos, confirmed that São Tomé and Príncipe’s economy failed to grow in 2024, maintaining stagnation at zero for […]
Egypt signs $135 million deal to establish MG Car Manufacturing Facility
Egypt has inked two significant agreements to establish an MG car manufacturing facility with a total investment of $135 million. These agreements concluded on December […]
Egypt partners with UAE’s Alcazar for $2.5B hybrid power plant in Zafarana
The Egyptian Government has finalized an agreement with UAE-based company Alcazar to establish a hybrid power plant in the Zafarana region. This project will combine […]
Nigeria’s military, security forces strike crushing blow to illegal oil trade
Nigeria’s military and security forces have launched a major campaign against illegal oil operations, delivering a crushing blow to nearly six dozen illegal bunkering sites. […]
Angola estimates losses of 151 million euros in sawn timber exports in 2024
The Angolan government reported significant financial losses from the timber industry in 2024, estimating a shortfall of $157.4 million (€151 million) from sawn timber exports. […]
Moroccan King urges speeding up advanced regionalization to spur economic, social development
King Mohammed VI called for speeding up the advanced regionalization process so that it can act as a lever for economic and social development and […]
Malawi Demands Huge Payments from Foreign Firms over Resources and Revenue
Malawi’s government has issued sweeping financial demands against three multinational corporations, including a gemstone dealer, an energy giant, and a tobacco firm, alleging that these […]