First Independent Mena Newspaper
East Africa is experiencing a profound geopolitical shift as Gulf states and Turkey expand their influence through infrastructure, energy, and security investments totaling an estimated $75 billion, according to a new report by the Washington-based Africa Center for Strategic Studies. This influx is transforming the region’s political and economic landscape, particularly in fragile states like […]
Africa’s trade is poised to hit a record $1.5 trillion in 2025, driven by accelerating regional integration and improved infrastructure, according to projections from the IMF and Afreximbank — yet economists warn of persistent structural hurdles. With trade growth expected to average 5.1% annually through 2026 and intra-African trade expanding at 6.6% per year, the […]
In a landmark shift in U.S. foreign policy, the U.S. Agency for International Development (USAID) officially closed its doors on Tuesday (1 July), with all operations absorbed by the State Department. The decision, driven by President Trump’s executive order and enacted by Secretary of State Marco Rubio, marks the end of a 63-year institution central […]
Italy and the European Union have announced €1.2 billion in new investments across Africa, aimed at boosting infrastructure, digital connectivity, and climate-resilient agriculture, though many question the true motives behind the ambitious investment plan. The deals, co-led by Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen, form part of Meloni’s […]
Qatar National Bank (QNB) has petitioned a U.S. federal court to enforce a $1.02 billion arbitration award against South Sudan, stemming from an unpaid wartime loan originally intended to stabilize the fledgling nation’s economy. Filed in the U.S. District Court for the District of Columbia, QNB’s request asks the court to treat the International Centre […]
Kenya’s capital Nairobi is set to become a major global hub for the United Nations, as the organization moves to decentralize operations and cut costs by relocating key offices from expensive cities like New York and Geneva. By late 2026, Kenya’s capital will host three new global offices — UN Women, the UN Children’s Fund […]
Africa’s mounting debt burden — now standing at 64.3% of the continent’s GDP — is choking vital investments in health, education, and infrastructure, warns the United Nations Economic Commission for Africa (UNECA). Speaking at a recent Africa Regional Forum on Sustainable Development, UNECA executive secretary Claver Gatete painted a sobering picture: out of 144 Sustainable […]
Sub-Saharan Africa remains the world’s most expensive region when it comes to transferring remittances, with an average cost of transferring money of 8.37% in the second quarter of 2024, according to the World Bank’s most recent report. This cost remains significantly above the global average, despite the increasing importance of remittances in the region’s economies. […]
Libya and Somalia have signed several Memoranda of Understanding providing for fostering cooperation in investments, educational exchanges, and training opportunities, which are crucial for building human capital and strengthening both nations’ socio-economic development. The deals were signed during talks in Tripoli between President of the Libyan Presidential Council Mohamed Younes El-Menfi and visiting Somali President […]
Remittances to Africa and the Middle East, which play a pivotal role in many regional economies, significantly contributing to their GDP, are estimated to have increased 5.4% in 2024, primarily due to rebounded flows to Egypt, after a 14.6% decline in 2023. In 2024, remittance flows to low- and middle-income countries are expected to reach […]