Africa Business Columns Emerging Markets Headlines International Morocco

The case for Nairobi-Rabat rapprochement

Kenya is seemingly taking the first steps to recognize Morocco’s sovereignty over the Sahara territory, following the example of the US and nearly half African states. Last week, Kenya appointed its first ambassador to Morocco Jessica Muthoni Gakinya who told MPs she will attract Moroccan investments to her country and promote Kenyan exports. Meanwhile, Kenya […]

Africa Headlines International

Togo and Chad launch campaigns for historic elections in April-May

Campaigning has begun in Togo and Chad, as the former prepares for historic regional and legislative elections against a backdrop of protests over the government’s constitutional change, while the latter will see its military ruler, General Mahamat Idriss Deby, attempting to cement his rule with a victory in the country’s presidential election. The electoral campaign […]

Africa Americas Headlines International

Niger: protest held in Niamey demanding withdrawal of US troops

Hundreds of demonstrators took part in a protest on Saturday (13 April) to demand the departure of the US troops after the military junta in Niamey further shifted its strategy by recently withdrawing from a military accord with the United States and welcoming Russian military personnel. The rally took place in the center of the […]

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South Africa’s Rand depreciates after poll showing Zuma’s political return

A Bloomberg report on a poll showing a drop in ANC popularity ahead of the upcoming elections was enough to plunge South Africa’s currency, the Rand. The poll revealed that corruption-plagued ANC will face its first-ever electoral test since apartheid due to a surge in support for former president Jacob Zuma and his uMkhonto Wesizwe […]

Africa Business Emerging Markets Headlines International

Ghana raises cocoa prices by over 50%

Ghana’s president ordered an increase in farmgate cocoa prices by 58% amid a drop in output due to climate change. Ghana is the world’s second largest cocoa producer with 15% of global output of the key ingredient for chocolate production. “The increase in the producer price of cocoa has become necessary to enhance the income […]

Africa Headlines International

Kenya proposes maritime treaty to defuse Ethiopia-Somalia tensions

Kenya has offered Ethiopia and Somalia a maritime treaty as a solution to a standoff that sparked when Adis Ababa signed a deal with breakaway Somaliland. Landlocked Ethiopia had signed a memorandum of understanding with Somaliland providing for access to the sea in return for an official recognition of the independence of the separatist region. […]

Africa Energy Headlines International

Nigeria’s oil output plummets on pipeline dysfunctions

Nigeria’s oil production shrunk to 1.23 million barrels per day in March with authorities blaming pipeline problems and maintenance issues. OPEC said Nigeria produced 1.32 million barrels in February and 1.42 million in January. Oil theft and pipeline vandalism have dealt severe blows on Nigeria’s oil production, limiting the country’s output and making it fall […]

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US to renew AGOA trade pact with Africa

A group of US senators introduced a bill to renew AGOA trade program with 40 nations in Sub-Saharan Africa, to help them maintain duty-free access to the US market ahead of the deal’s expiration next year. The legislation, first enacted in 2000, is expected to be extended until 2041, news agencies reported. Biden’s administration has […]

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Red Sea attacks to shrink Africa’s trade volume, worsen its macroeconomic stability — report

Africa’s trade volume is projected to shrink in the first six month of 2024, as the recent attacks by Iran-backed Houthi rebels on commercial vessels will have a huge consequence on the economies of African countries, especially those in North and East Africa, says a new report compiled by Afrexim Bank. As Yemen-based militants continue […]