Africa Headlines International

UN urges sending peacekeepers to Sudan, imposing arms embargo

Due to the surge of attacks on civilians by both warring sides in Sudan, the UN urged sending peacekeepers to the country and imposing an arms embargo there. The call was made by the UN’s Independent International Fact-Finding Mission for Sudan following its first report. The report said Sudan’s warring parties have committed an appalling […]

Africa Headlines International

Climate change costs Africa 5% of its GDP- study

Climate change and global warming costs African countries 5% of their GDP, according to the UN. The continent releases less than 10% of greenhouse gas emissions globally but continues to bear a disproportionate impact of global warming. African countries spend 9% of their budgets to counter climate change. Meanwhile, they only receive 1% of annual […]

Africa Energy Headlines International

Nigeria’s Dangote refinery begins operations, promising energy independence

Nigeria has achieved a historic milestone with the commencement of petrol production at the new $20 billion Dangote refinery near Lagos. Boasting a capacity of 650,000 barrels per day, it’s now Africa’s largest refinery and is poised to alleviate Nigeria’s persistent fuel shortages. The refinery aims to reduce Nigeria’s heavy reliance on imported oil products, […]

Africa Finance Headlines International

Ghana proposes $13 billion bond restructuring to address economic woes

Ghana has extended an invitation to holders of approximately $13 billion in international bonds to exchange their holdings for new instruments. This offer follows a preliminary restructuring agreement with two bondholder groups. The deadline for the offer is September 30, with an early deadline of September 20 offering a 1% consent fee for early participants. […]

Africa Energy Headlines International

Kenya suffers partial grid collapse

Most of Kenya was cut off from electricity on Friday following major grid failures, grid operator and the energy ministry said. The outage was blamed on two trips at a transmission line and on the Ethiopia-Kenya high voltage transmission line, Energy Minister Opiyo Wandayi said in a statement. “The loss of 488MW, accounting for 27.3% […]

Africa Asia Business Emerging Markets Headlines International Morocco

Morocco reaffirms commitment to strengthening Chinese-African partnership

The Moroccan Government reaffirmed on Thursday in Beijing steadfast commitment to advancing and strengthening further partnership between African countries and China for shared prosperity and inclusive growth unleashing Africa’s full potentials. Addressing the China-Africa cooperation summit 2024 convening in Beijing (Sept.4-6), Morocco’s Prime Minister Aziz Akhannouch, who is representing King Mohammed VI at this event, […]

Africa Headlines International

Congo receives first Mpox vaccines amid ongoing health crisis

Congo has received its first shipment of mpox vaccines, with 100,000 doses arriving in the capital and another 100,000 expected shortly. The European Union donated the JYNNEOS vaccines, made by Bavarian Nordic. UNICEF will oversee the vaccination campaign in the most affected regions. However, the 380,000 doses promised by Western partners fall far short of […]

Africa Emerging Markets Finance Headlines International

China’s billion-dollar promise: fueling Africa’s growth

China has unveiled an ambitious plan to strengthen its partnership with Africa, pledging $51 billion in fresh financing and promising to create at least one million jobs. President Xi Jinping announced this initiative at a major China-Africa cooperation summit in Beijing, attended by delegates from over 50 African nations. The comprehensive package includes support for […]

Africa Asia Headlines International

Mali gets Chinese military support, a hard blow to Algerian regime

Mali military rulers have sealed a military partnership with China amid heightened tension with the feckless neighboring Algerian regime, accused by Bamako of interfering in its domestic affairs and supporting terrorist groups threating its stability. Under an agreement signed in Beijing on the sidelines of the ongoing China-Africa cooperation forum, China will provide the West […]

Africa Energy Headlines International

Nigeria’s fuel crisis: A nation grappling with shortages, soaring prices

Nigeria is in the grip of a severe fuel crisis, characterized by widespread shortages and dramatic price increases. The state-owned Nigerian National Petroleum Corporation (NNPC) has raised fuel prices from 617 naira to 897 naira per liter, citing debts and rising global costs. This hike has triggered a domino effect, with private sellers pushing prices […]