Africa Business Emerging Markets Headlines International

East African economies powering ahead, EAC may become continent’s next regional powerhouse

East Africa could soon become Africa’s economic powerhouse if ongoing plans to expand the seven-member East African Community (EAC) are implemented successfully, as latest figures from the International Monetary Fund (IMF) indicate. The EAC’s gross domestic product is expected to hit $346.17 billion in 2023, according to the IMF’s latest forecast, which can be attributed […]

Africa Business Emerging Markets International

Tanzania’s, Kenya’s flag carriers explore new cargo partnership

Air Tanzania Company Limited and Kenya Airways top officials have met to discuss the possibility for a cargo transportation collaboration aiming to increase value and reduce operating coasts. Kenya Airways Group managing director Allan Kilavuka, who visited Tanzania recently, said in a statement that the two airlines could cooperate in different areas, particularly in cargo […]

Business Emerging Markets Europe Headlines International Morocco

UK Parliament: Morocco showcases inclusive development of Saharan Provinces

Several British lawmakers were briefed earlier this week at the UK Parliament on the social and economic development achieved in Morocco’s southern provinces, and on the autonomy plan offered by Morocco for the Sahara under its sovereignty. After presentations made by member of Dakhla Oued-Eddahab regional council Mrs. Ghalla Bahiya, and Morocco’s Ambassador to UK […]

Africa Asia Business Emerging Markets Headlines International

Kenya’s China dilemma: between foreign investment and dependency

While Kenya’s government is targeting Chinese investors to establish manufacturing plants in its special economic zones to boost exports, thousands of local traders have protested in the capital Nairobi against the ‘unfair” competition from Chinese traders. The government is offering Chinese investors a value proposition that the East African country is the premier investment destination […]

Africa Algeria Finance Headlines International Maghreb

Arab Maghreb Union asks Algeria to pay its state contribution

The Arab Maghreb Union AMU issued on April 18 a detailed statement asking Algeria to pay its duties, while debunking the false arguments underlying Algeria’s hysterical reaction to the appointment of a Moroccan citizen as permanent representative of AMU to the African Union. The statement was issued five days after Algeria’s blunt statement in which […]

Business Emerging Markets Europe Headlines International Morocco

Morocco, a friend and key Spanish ally- Pedro Sanchez says

Spanish Prime Minister Pedro Sanchez has once again dissipated the fog that some extreme-left and anti-Moroccan circles wish to create, reiterating Morocco’s standing as a friend and key ally for Spain. “Morocco is a friend and a key ally for Spain’s economic development and our gateway to Africa. It is also an ally in security […]

Africa Finance Headlines International

Angola recovered $6 billion in cash, seized another $21 billion in assets

Angola recovered six billion dollars and seized another 21,000 as part of the confiscation of assets, half of which were abroad, the deputy attorney general said on Tuesday, suggesting the creation of an autonomous structure for asset management. Inocência Pintos pointed out that the Angolan state has created a set of measures to combat organized […]

Africa Emerging Markets International

Nigeria: Harvest devastated by severe flooding, millions in desperate need of food

Heavy rains destroyed 700,000ha of farmland in northern Nigeria, wiping out the main source of income for thousands of households and worsening the food security crisis. The Director-General of the National Emergency Management Agency (NEMA), Mustapha Ahmed, last month issued a warning of upcoming severe flooding this year as indicated by predictions from relevant agencies. […]

Africa Business Emerging Markets Headlines International

African air travel demand sees strong growth, on track to reach pre-covid levels

African air travel has made a robust recovery, with the traffic in March having reached 94.8% of pre-pandemic levels of 2019, as more international routes and tourism reopened, the African Airlines Association (AFRAA) has said in a new report. Africa’s airlines have almost returned to pre-pandemic traffic levels, according to the report, noting that domestic […]

Africa Business International

Tanzania inks $667mil. deals with three Australian miners for rare earth, graphite projects

Tanzania has inked deals worth $667 million with three Australian companies to mine rare earth minerals and graphite, part of President Samia Suluhu Hassan’s drive to fast-track negotiations on long-pending mining and energy projects. Tanzania’s president has witnessed the signing of the deals at a function held at Chamwino State House in Dodoma. Under the […]