Rebel-Held Bukavu Struggles with Damaged Banknotes Amid Cash Shortage
Residents of Bukavu, the capital of South Kivu province in eastern Democratic Republic of Congo, are grappling with a severe cash shortage that has forced […]
Finance
Ghana Declared Ineligible for U.S. Millennium Challenge Compact Aid in FY 2026
Ghana has been ruled ineligible to receive foreign assistance from the United States under the Millennium Challenge Compact (MCC) for the 2026 financial year. The […]
Egypt Unveils New Economic Narrative, Targets 7% GDP Growth by 2030
Egypt’s Minister of Planning, Economic Development, and International Cooperation, Dr Rania Al-Mashat, announced on Sunday, September 7, that the country is aiming for 7 percent […]
New AfDB President Sidi Ould Tah Calls for Paradigm Shift to Tackle Africa’s Challenges
Mauritanian economist Sidi Ould Tah officially assumed office on 1 September 2025 as the ninth president of the African Development Bank (AfDB), pledging to build […]
Qatar’s $103bn Africa bet signals shift in Gulf’s global strategy
Qatar has unveiled an ambitious $103 billion investment plan across six African nations, marking one of the Gulf state’s largest-ever international expansion efforts. Spearheaded by […]
Africa Loses \$88 Billion Annually to Illicit Financial Flows, Warns African Union
The African Union (AU) has raised alarm on August 31 over illicit financial flows draining nearly $88 billion from the continent every year. These transactions, […]
Ethio Telecom Unveils Three-Year Strategy to Reach 100 Million Subscribers by 2028
Ethiopia’s state-owned operator, Ethio Telecom, has launched a new three-year development roadmap, “Next Horizon: Digital and Beyond 2028,” aimed at expanding its customer base to […]
East Africa launches $2.15B cross-border railway project to boost trade and cut costs
Construction has begun on East Africa’s first-ever cross-border standard gauge railway (SGR), a $2.15 billion project linking Uvinza in western Tanzania to Musongati in eastern […]
Mozambique’s Sovereign Wealth Fund Receives Record Gas Revenues Amid Debate Over Usage
Mozambique has channelled US$210 million into its Sovereign Wealth Fund (FSM) by June 2025, surpassing the total contributions made in the whole of 2024! According […]
AfDB Commits $500m to Propel Ethiopia’s $10bn Mega-Airport Project
The African Development Bank (AfDB) has pledged a $500 million loan towards Ethiopia’s new $10 billion international airport in Bishoftu, southeast of Addis Ababa. The […]