First Independent Mena Newspaper
Since the invasion of Ukraine by Russia — the second largest international exporter after China — the prices of fertilizers in West Africa have skyrocketed, severely aggravating the ongoing food crisis in countries such as Burkina Faso. In the last few months, the Sahel region has been hit by the worst drought in over a […]
The COVID-19 pandemic and the ongoing war in Ukraine have been pushing many electric grid utilities in Africa — which have long been strapped for cash — close to financial collapse, whereby this situation is in turn also slowing down the continent’s clean energy transition. Ghana’s electric grid is in dire straits. In the mid-2010s, […]
Many, if not most, African economies have endured a torrid time over recent years, as their finances have been hard hit by two global crises – Covid-19 and the Russia-Ukraine war. As a result, numerous states across Africa have turned to the International Monetary Fund (IMF) for assistance. Ghana is expecting to receive $3 billion […]
Ghana’s President Nana Akufo-Addo has urged European nations to pay reparations to Africa for damage wrought by the historic slave trade. Speaking at the recent Reparations and Racial Healing Summit in Accra, Ghana’s leader said compensation for the trauma of the trans-Atlantic slave trade is long overdue and compared Africa’s lack of reparations to the […]
As Kenyans head to the polls on August 9, East Africa’s largest economy could be headed for tough times. With the country’s currency having depreciated sharply, Kenya’s Treasury will face difficulty paying back its huge dollar-denominated debt. Kenya is among developing countries facing an economic crisis, according to a recent report released by Moody’s Investors […]
Morocco, Tunisia, Algeria and Egypt have advanced to the third and last round of qualifying for the 2022 World Cup to be held in Qatar. The four football names in the region topped their respective groups – underlining their dominion on football on the continent. Morocco earlier booked its place before the November fixtures. Algeria […]
Ciments de l’Afrique (CIMAF) a subsidiary of Morocco-based Omnium des Industries et de la Promotion (OIP) has landed a €161.5-million loan from the International Financial Corporation (IFC), French-government-owned Proparco, and Emerging Africa Infrastructure Fund (EAIF) earmarked to increase capacities of its grinding plants in Mali, Ghana, and to launch a state-of-the-art integrated cement plant in […]
Nigeria, which has partnered with a foreign fintech company, will be a pioneer in Africa, as will its West African neighbor, Ghana, which has been testing its e-Cedi as a new medium of exchange since September. Central banks around the world are exploring ways to create digital versions of their currencies in response to the […]
A ministerial mission of ECOWAS arrived in Côte d’Ivoire to meet the various political actors. The opposition no longer recognized the legitimacy of the institutions in charge of organizing and validating the elections, scheduled for October 31, and demanded the withdrawal of the candidacy of outgoing President Alassane Ouattara for a third term. Will this […]
Aker Energy Ghana has reaffirmed its commitment to finding a solution that will allow for the commencement of a phased development of the Pecan field offshore Ghana. In March, Aker Energy announced that a final investment decision (FID) for the Pecan field development project had been placed on hold, postponing the project. While no […]