Africa Business Finance International

Economic headwinds: foreign debt and inflation cloud Kenya’s presidential polls

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 […]

Africa International

Tug-of-war: West and Russia vying for influence in Africa

French President Emanuel Macron and Russian Foreign Minister Sergey Lavrov are each visiting several African countries this week in what is widely seen as a tug-of-war over zones of influence on the continent. Speaking during a visit to Ethiopia, Lavrov on Wednesday (27 July) criticized the reliance of the global economy on the US dollar, […]

Europe International

Macron in Cameroon slams ‘hypocrisy’ on African nations

Global food crisis is one of Russia’s “weapons of war“, said French President Emmanuel Macron during a visit to Cameroon on Tuesday (26 July), dismissing suggestions Western sanctions were to blame. It’s Macron’s first foreign trip since his re-election as he seeks to reset France’s post-colonial relationship with the continent. The French leader specifically denounced […]

Business Finance

Inflation: fears of unrest in SA, Uganda looming large as food prices soar

The rising price of basic foods is worsening South Africa’s food security crisis which could increase social instability and spark a repeat of the devastating July 2021 unrest that spiraled out of control. Meanwhile, in Uganda, people in the eastern city of Jinja have taken to the streets protesting the rapidly rising cost of living. […]

Africa Europe International

Russia in Africa: Lavrov courts Congo, Uganda in quest for more non-Western allies

Following a visit to Egypt and the Republic of Congo, Russian Foreign Minister Sergey Lavrov has now (26 July) arrived in Uganda as Moscow aims at strengthening its ties with the continent. Uganda’s President Yoweri Museveni has a long history of balancing strong relations with Western allies and good ties with Moscow. Lavrov has earlier […]

Egypt Headlines

Russia pledges to meet wheat commitments to Egypt

Russia’s Foreign Minister Sergey Lavrov Sunday said Russian grain exporters are committed to their obligations regarding international wheat orders. Russia’s top diplomat was in Cairo Sunday to meet with Egyptian authorities and the Arab League. Lavrov during a joint press conference with his Egyptian counterpart Sameh Shoukry said that his country took many steps to […]

Africa Europe International

Macron’s Africa tour: France seeks to ‘renew relationship’ with continent

French President Emmanuel Macron today (25 July) begins a three-nation tour of western African states in the first trip to Africa of his new term as he seeks to reboot his country’s post-colonial relationship with the continent. Macron’s 25-28 July tour, also the first venture outside Europe of his new mandate, will take the French […]

Finance Headlines

World Bank loans Sudan $100m to combat deep food insecurity

The World Bank has released $100 million for the World Food Program to tackle “deep food insecurity” for 2 million people in Sudan. The Washington-based institution in a statement said the funds will help provide an “emergency safety net” amid worsening hunger in the northeast African nation “caused by a poor harvest and rising international […]

Africa Americas International

U.S.-Africa Summit: Biden to Host African Leaders in mid-December

The U.S.-Africa leaders summit will be held from 13-15 December, President Joe Biden announced Wednesday (20 December). Describing the U.S. commitment to Africa as „enduring.” The U.S. president said he looked “forward to hosting leaders from across the African continent in Washington.“ According the White House press release, the gathering will look to “foster new […]

Egypt Headlines

Egypt, Serbia sign series of agreements as leaders of both countries meet

Egypt and Serbia inked a group of agreements and Memorandum of Understanding as President Abdelfattah al-Sisi visited the European country Wednesday. Al Sisi met with Aleksandar Vucic in capital Belgrade following a visit to Germany the day before. Both leaders oversaw the signing of several accords. One agreement in the field of higher education was […]