Africa Business Emerging Markets Headlines International

Nigeria aims to join BRICS bloc in two years in bid to boost its global economic clout

Nigeria, Africa’s largest economy, is seeking the exclusive BRICS membership to enhance its global economic influence that would also allow it to loosen its ties with the West, according to experts. According to Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, the West African country hopes to join the influential economic alliance within two years, stressing […]

Africa Business Emerging Markets Europe Headlines International

AU chief calls for ‘positive competition’ from Europe in bid to counter China’s growing clout

As African leaders converged on Germany’s capital earlier this week to attend the G20 ‘Compact for Africa’ meeting, the African Union (AU) chief called for “positive competition” from Europe in the continent, which would be more welcome than its criticism of Chinese investments for saddling poor countries with huge debts. While addressing the high-level meeting […]

Asia Business Emerging Markets Headlines International Morocco

China’s Citic Dicastal expands automotive investments in Morocco

China’s car parts maker Citic Dicastal opened its third factory in Morocco in Kenitra worth 180 million euros to manufacture aluminum chassis parts. The new factory spans over 20,000 square meters and employs 1000 people. It has an annual production capacity of 5 million units, of which 90% will be exported to Europe. This plant […]

Asia Business Emerging Markets Headlines International Libya

Libya-China: Harbour Company to conduct study of potential investments in Libyan infrastructure projects

Beijing-based China Harbour Company, a subsidiary of China Communications Construction Company, has been tasked to conduct studies of potential investments in infrastructure projects in Libya, under a Memorandum of Understanding (MoU) with Misurata Free Zone (MFZ). The deal was signed on the sidelines of the North African International Conference and Exhibition for Ports and Free […]

Africa Asia Business Emerging Markets Europe Headlines International

Beijing to revive Tazara railway as EU, US seek to challenge China’s dominance in key African trade corridor

China is reportedly on track to control the ailing African Tazara railway connecting Tanzania and Zambia, originally funded by Mao Zedong’s government in the 1970s, despite geopolitical needling over control of mineral trade routes. Amid growing geopolitical tensions over the control of trading routes for critical minerals in Africa, China has chosen the China Civil […]

Africa Headlines International

Guinea returns to OMVS three months after walkout

Guinea has returned to Organization pour la Mise en Valeur du Fleuve Sénégal (OMVS), a regional bloc for the development of Senegal River that including Mali, Mauritania and Senegal, after suspending its membership in July 2023, in protest to the neglect of its strategic interests. The country’s interim Prime Minister Bernard Goumou attended the online […]

Africa Business Emerging Markets Headlines International

African leaders attend 3rd Belt and Road Forum in Beijing

Some 130 leaders from Africa and other world’s regions have gathered in China for a two-day meeting organized by the Chinese government that marks the 10th anniversary of its Belt and Road Initiative (BRI). The summit that kicked off on Tuesday (17 October) is the third BRI Forum for international cooperation. Launched a decade ago, […]

Africa Headlines International

Joint Zambia-Zimbabwe $5bn dam project near Victoria Falls approved by UN agency

A UN agency has given Zambia and Zimbabwe permission to build a $5 billion hydropower dam downstream from Victoria Falls, a UNESCO World Heritage Site, according to the authority overseeing its construction. Environmentalists have protested the 2,400-megawatt Batoka Gorge project, which is located 47 kilometers from the world’s largest waterfall, saying it would have a […]

Africa Asia Business Emerging Markets Europe International

East Africa: EU Global Gateway struggles to challenge rival China’s BRI

To offer developing countries an “alternative” to China’s Belt and Road Initiative (BRI), the EU launched, in 2021, its €300 billion Global Gateway scheme but as Kenya’s case shows, the EU’s initiative struggles to challenge its Chinese rival. For the European Union, investing in trade routes is about economic development and a way to push […]

Americas Blogs Community Headlines International

UN approves Kenya-led multinational armed force to combat gang violence in Haiti

Kenya’s president William Ruto has welcomed the UN Security Council’s resolution to send a a multinational armed force led by the East African nation to Haiti to help combat violent gangs, pledging “not fail the people of Haiti.” Ruto made these remarks on Tuesday (2 October), only hours after Monday’s vote at the UN that […]