Africa Business Emerging Markets Headlines International

Africa to cut its reliance on West, unfair raw material trade practices – AfCFTA, Uganda leaders

African countries must reduce their reliance on other Western countries by boosting intra-Africa trade and also by eliminating their exploitation of Africa’s raw materials, according to the AfCFTA Secretary General and Uganda’s president. Speaking at the 2023 Zenith Bank International Trade Seminar on Non-Oil Export, the Secretary General of AfCFTA, Wamkele Mene, said that economic […]

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Putin, Mali’s Goita discuss Niger crisis amid Western fears of growing Russian influence in Sahel

Mali’s military leader and interim president, Assimi Goita, had a telephone conversation with Russian President Vladimir Putin on Tuesday about the escalating situation in Niger, amid growing concerns in the West that Africa’s latest coup undermines its influence while presenting an opportunity to expand Russia’s presence in the West African region. The Kremlin said Mali’s […]

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Sudan crisis: UN, aid agencies urge global action as situation ‘spirals out of control’

UN agencies and humanitarian organizations are urging global action as millions of people in Sudan run out of food and many die due to the lack of healthcare after four months of bloodletting. The situation in Sudan, which could possibly amount to “crimes against humanity”, is rapidly “spiraling out of control” with widespread displacement and […]

Africa Finance Headlines International

Gabon restructures portion of debt to finance ocean protection

Gabon has converted $163 million, a third of its debt, into funds to protect its oceans, US-based NGO The Nature Conservancy (TNC) and the Government of the central African country said Tuesday August 15. The swap operation marks “the start of a 15-year conservation project… to help Gabon finance ocean protection and management for 30 […]

Africa Headlines International

Benin sacks 61 police officers for unlawful absence

As many as 61 officers of Benin’s law reinforcement Forces have been sacked as the State blames them for unjustified absence for at least 15 days in a year, reports say. Alassane Seidou and Romuald Wadagni respectively Minister of Interior and Minister Finance signed the decree announcing the sacking of the officers who belong to […]

Africa Headlines International

Madagascar: President’s Chief of Staff arrested by British Crime Agency over corruption

The National Crime Agency (NCA), the United Kingdom’s lead agency against organized crime, human, weapon, drug trafficking, cybercrime and economic crime has arrested and detained Romy Voos Andrianarisoa, the Civil Chief of Staff of Madagascar’s President Andry Rajoelina over corruption allegations. The Malagasy official, the agency indicated Monday August 14, was arrested last Thursday August […]

Africa Headlines International

Niger: US, ECOWAS slam junta plan to prosecute president Bazoum for ‘high treason’

The United States have expressed great concern and the West African regional bloc ECOWAS condemned on Monday (14 August) Niger’s military rulers’ threats to prosecute detained President Mohamed Bazoum, warning the move would exacerbate tensions. “We are incredibly dismayed by reports that President Bazoum’s unjust detention has gone even a step further,” State Department spokesman […]

Africa Headlines International

African airlines show resilience with 34.7% surge in traffic, yet global share remains just 2.1%

African airlines have achieved a 34.7% surge in passenger traffic over the past year, displaying remarkable resilience against the odds, yet their global share still remains modest at 2.1%. African airlines have even outpaced their counterparts in Europe, the Middle East, and across the globe in terms of total passenger traffic for the month of […]

Africa Finance Headlines International

African central banks’ rigid exchange rate regulation scrutinized by IMF

The International Monetary Fund (IMF) has slammed African central banks for their misguided currency regulation, especially with regard to the ineffective disposal of their foreign exchange reserves. In particular, the IMF has scrutinized the African central banks’ rigid exchange rate regulations, criticizing them for disposing of their foreign exchange reserves in an ineffective attempt to […]

Africa Headlines International

Press freedom increasingly under threat in sub-Saharan, southern Africa

In July 2023, the International Press Institute’s (IPI) global network’s monitoring of press freedom violations in sub-Saharan Africa recorded 80 incidents in 17 countries, which reflects just how much media across Africa are being obstructed by newsroom raids and arrests, attacks on reporters covering elections and legal challenges to their work. According to the latest […]