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South Korea launches ‘K-rice belt’ covering eight countries in Africa

Korea has launched on Monday a K-Rice project aiming to provide small farmers in Africa with resilient rice varieties that can withstand adverse climate conditions, ensuring improved yields and food security. By establishing the so-called “K-Rice Belt” across eight countries in Africa, the Korean government aims to advance current official development assistance (ODA) programs to […]

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Corruption across Africa rose dramatically in 2022 but citizens fear to speak up — Afrobarometer

A majority of Africans believe that corruption increased drastically in their countries between 2021 and 2022, according to a latest survey conducted by Afrobarometer, that also highlighted the fact that an even larger proportion of the respondents feared retaliation should they report corrupt acts to the authorities. According to the Afrobarometer’s survey, in as many […]

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Terror groups in Africa, a breeding ground for attacks in the West

Pundits have been warning that terror groups in Africa have found a breeding ground for recruiting militants in the huge refugee camps scattered around the continent, including the Polisario-controlled camps in Tindouf in Algeria, with plans to stage attacks on Europe. “Islamists have a strong presence in Africa and recruit in huge refugee camps. And […]

Africa Finance Headlines International

AfDB warns of 25 African countries facing debt risks, as IMF approves loans to Zambia, Senegal

The rise in cost of debt servicing has led to 25 countries in Africa being at risk of either high debt distress or in-debt distress, African Development Bank (AfDB) Group president has warned, just as the International Monetary Fund (IMF) has approved billion-dollar loans to Zambia and Senegal. AfDB chief, Akinwumi Adesina, said African markets […]

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India ups lending to Africa in bid to counter China’s dominance

Africa has become the second-largest recipient of credit from India while over the past decade 18 of the 25 new Indian embassies or consulates were opened in the continent, as the South Asian powerhouse tries to catch up with China’s massive sway in the resource-rich continent. Many African nations received about $12 billion or 38% […]

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African immigrants celebrate their blended heritage on US Independence Day

Immigration from Africa to the United States has increased dramatically in the past three decades and these migrants turned to the US in pursuit of safety, opportunities and economic prospects, according to two latest studies on this topic. As the US commemorates 247 years of independence on Tuesday (5 July), African immigrants celebrated Independence Day […]

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Global conflicts cause highest death toll in 21st century, Africa tops the list — IEP study

Conflicts around the globe cause more deaths — over 238,000 people in 2022 only — than they have ever done this century, with Yemen, Syria, South Sudan, and the Democratic Republic of the Congo (DRC) having all ranked among the world’s ten least peaceful countries since the index was launched in 2007. The number of […]

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Africa’s voice on Artificial Intelligence regulation must be heard in global talks

With the first summit on global Artificial Intelligence (AI) regulation due in the autumn, experts and stakeholders call for African voices to be represented in forming the new rules – digital inequalities must not be exacerbated by Artificial Intelligence. The United Kingdom will host a global summit on safety in artificial intelligence in the autumn, […]

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AfDB invests $11m in Luxemburg-based BluePeak Private Capital Fund for SME in Africa

The African Development Bank, AfDB, has made equity investment worth $11 million in Luxemburg-based BluePeak Private Capital Fund to support mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing, and logistics sectors, across Africa. The Abidjan-based bank in a statement said BluePeak – a flagship private capital fund – will provide growth capital to middle-sized companies […]

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UN in Africa: why Mali and other African nations want peacekeepers to leave

Germany is looking to pull its soldiers out of Mali faster, in light of the looming end of MINUSMA, a United Nations peacekeeping mission — one of several UN missions operating in war-torn nations around Africa whose governments want them out, despite warning by experts of consequences and fresh security threats. Germany had deployed some […]