First Independent Mena Newspaper
Nigerian naira, Malawian kwacha and Rwandan franc have been named the worst-performing African currencies against the US dollar in 2024, according to a latest report, having faced an array of challenges, from persistent trade imbalances, dwindling foreign reserves, to political instability. Some African nations strengthened their currencies, while others faced worsening exchange rates in 2024. […]
The DRC, Kenya and Uganda have been ranked by the latest edition of the Africa Risk-Reward Index 2024 as the riskiest investment destinations in East Africa, largely blamed on political, social and economic threats, while Rwanda stands out as the safest investment destination in the region. This authoritative report has been recently launched by the […]
The brutal murder of Mohamed Ali Kibao, a senior member of Tanzania’s main opposition party Chadema, has sent shockwaves through the nation and drawn international condemnation. Kibao, 69, was kidnapped, severely beaten, and doused with acid in a horrific attack that has raised serious concerns about political violence in the country. President Samia Suluhu Hassan […]
Tanzania registered 409 investment projects in the first half of the year, which is a whooping 200 times more projects that were registered in the east African country in 2023, according to the Tanzania Investment Center (TIC). In the first six months of 2024, Tanzania registered 409 investment projects, worth $3.09 billion, of whom 385 […]
Currently a minor player in the rare earth market, African mines have the potential to supply almost 10% of the world’s rare earth elements by 2029, thereby introducing alternative suppliers into a market currently dominated by China, according to a latest forecast by Benchmark Mineral Intelligence. China’s current domination of the global market for rare […]
Millions of users in Kenya, Tanzania, Rwanda and Uganda complained of internet outage that operators blamed on undersea cable failures. Internet service in the region was disrupted after problems in the cable that connects the region with the rest of the world through a cable that crosses South Africa, the BBC reported citing experts. On […]
China’s 45th naval fleet has in recent weeks visited Tanzania, Mozambique and Madagascar in what experts say is Beijing’s show of force designed to help cement the Asian powerhouse’s diplomatic ties in Africa. After the People’s Liberation Army’s (PLA) Navy stopped many of its African port visits during the Covid-19 pandemic, it has now begun […]
In this era of geopolitical competition and realignment, India recognizes Africa as a key component in its pursuit of superpower status and the continent is thus becoming a crucial player in New Delhi’s ambitious quest for global economic dominance. India’s multifaceted relationship with African countries is set for a fundamental transformation, as the continent is […]
Tanzania’s central bank will begin selling US dollars to commercial banks to boost liquidity amid high demand for foreign currencies. “The initiative aims to ensure adequate foreign currency liquidity in the market. In addition, it intends to ensure customers’ demands for foreign currency are met through licensed financial institutions at the prevailing market prices,” the […]
The recent surge of new attacks by an Islamic State-affiliated group in Mozambique’s Cabo Delgado province has been fueled by an influx of Islamist fighters of different nationalities from other parts of Africa, experts and observers warn. After several months of relative calm, Mozambique’s troubled Cabo Delgado province has been, since the beginning of 2024, […]