News : Africanews

As artificial intelligence advances across Africa, a new innovation is bridging the language gap for millions of non-English speakers, while a potential TikTok ban in the U.S. threatens the global reach of African digital entrepreneurs.<div class="small-1

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Ghana missing $156 million in state budget after USAID freeze

Business • 9:23 AM

1 min

Ghana's Finance Ministry is looking to bridge a gap of $156 million in the state budget following US President Trump's decision to freeze funding from his government's biggest development and aid agency, USAID.<div class="small-12 column text-center artic

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Corruption survey: worst scores in decade, South Sudan at bottom

Business • 1:11 PM

3 min

Transparency International, which compiles the annual Corruption Perceptions Index, found that 47 countries out of the 180 it surveyed had their lowest score last year since it started using its current methodology for its global ranking in 2012.<div clas

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Dangote oil refinery to reach full capacity in 30 days

Business • 12:32 AM

1 min

Nigeria’s Dangote Oil Refinery, the largest in Africa, is set to begin full operations in the next 30 days<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/02/10/dangote-oil-refinery-to-reach-full-capacity-i

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January sees Egypt's inflation Fall to 23.0% due to base effect

Business • 5:07 PM

1 min

Inflation in Egypt is forecast to have slid to 23.0% in January, helped by a supportive base effect, according to a poll released on Thursday.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/02/06/january-s

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Five years later, is the AfCFTA already failing? {Business Africa}

Business • 3:57 PM

4 min

This week, the AfCFTA five years on, the impact of the Yagoua-Bongor bridge on trade, and the uncertain future of Kenya’s second-hand clothing market.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/02/06/f

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Iran's currency plummets to record low as Trump restores sanctions

Business • 1:30 PM

1 min

Iran’s currency, the rial, plunged Wednesday to a record low of 850,000 rials to $1 after U.S. President Donald Trump ordered a restart to the “maximum pressure” campaign targeting Tehran.<div class="small-12 column text-center article__button"><a href="h

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UN Security Council meeting highlights South Sudan's economic hurdles

Business • 11:32 AM

3 min

The conflict in Sudan is exacerbating instability in South Sudan, where economic difficulties and political instability are on the rise.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/02/06/un-security-cou

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China imposes new tariffs on U.S. goods in retaliation

Business • 11:13 AM

1 min

On Tuesday China announced it would impose new tariffs on U.S. imports in retaliation for Washington’s recent tariff hike<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/02/04/china-imposes-new-tariffs-on-u

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Nigeria Union rejects telecom tariff hike

Business • 10:31 AM

1 min

Consumer advocacy groups have also vowed to contest the hike, as the economic crisis deepens. The February 4 protest is set to test the government’s ability to manage public discontent over economic policies.<div class="small-12 column text-center article

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Mission 300 Summit: Lighting Up Africa {Business Africa}

Business • 3:14 PM

3 min

At a summit in Tanzania, Global and African leaders commit to funding and reforms aimed at bringing electricity to 300 million Africans by 2030 while Rwanda discovers 13 oil wells in Lake Kivu. The discovery sparks debates over its potential economic bene

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Ghana formalises debt restructuring with official creditors

Business • 12:01 AM

1 min

The reworking of its debt has been a long-standing issue for the gold and cocoa-producing country, since it defaulted on most of its external borrowing in 2022.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/20

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Inflation in Zimbabwe rises by 10% in January

Business • 5:50 PM

1 min

Amid high food and housing prices, inflation in Zimbabwe has risen by 10.5% this past month. It increased in both dollar and local currency terms.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/28/infla

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Tony Parker joins forces with DRC for 'Invest in DRC' night in Paris

Business • 11:42 AM

2 min

The "Invest in DRC" forum, brought to light significant challenges facing the Democratic Republic of Congo (DRC) while emphasizing the nation's potential appeal to foreign investors.<div class="small-12 column text-center article__button"><a href="https:

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Trump’s message at Davos: oil price cuts could end Ukraine war

Business • 7:07 AM

1 min

President Donald Trump announced his intention to urge the Organization of the Petroleum Exporting Countries, along with its primary member, Saudi Arabia, to lower crude oil prices during his address at the World Economic Forum in Davos, Switzerland on Th

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UAE strengthens its role as Africa’s leading investor {Business Africa}

Business • 5:14 PM

2 min

The UAE has become Africa’s leading investor, pouring billions into renewable energy, infrastructure, and other critical sectors and despite regional challenges such as inflation and climate concerns, Africa’s economy is expected to grow modestly in 2025,

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Nigerian regulator approves up to 50% hike in mobile phone tariffs

Business • 1:56 PM

1 min

Mobile phone tariffs in Nigeria have remained unchanged for over 10 years.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/22/nigerian-regulator-approves-up-to-50-hike-in-mobile-phone-tariffs/?utm_source

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Critical minerals and climate action: South Africa's G20 priorities

Business • 10:48 AM

1 min

South African President Cyril Ramaphosa outlined objectives and priorities for the country’s G20 presidency with a promise of elevating the impact of climate change on developing countries.<div class="small-12 column text-center article__button"><a href="

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The ramifications of Trump's tariff decisions for world trade organisation

Business • 8:59 AM

1 min

The leader of the World Trade Organization Ngozi Okonjo-Iweala, conveyed a sense of "cautious optimism "tatting that her approach to the U.S. President Donald Trump's trade and tariff strategies is to remain composed and observe the actual policies that w

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Oxfam puts spotlight on wealth inequality as WEF gets underway

Business • 10:43 PM

1 min

As the world economic forum kicks off in Davos, Oxfam is putting the spotlight on wealth inequality. According to the anti-poverty group, billionaires' wealth increased three times faster last year than in 2023.<div class="small-12 column text-center arti

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Bitcoin soars past $109,000 ahead of possible early action on crypto by Trump

Business • 4:20 PM

5 min

Once a sceptic who said a few years ago that Bitcoin “ seems like a scam,” Trump has embraced digital currencies with a convert’s zeal.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/20/bitcoin-soars-pa

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IMF lifts 2025 global growth outlook, but warns against protectionism

Business • 7:41 AM

2 min

Global growth is expected to improve slightly this year, the International Monetary Fund said on Friday, but said economic policy uncertainty is elevated.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/

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Nigeria becomes the ninth BRICS partner country

Business • 8:43 AM

1 min

Brazil’s government said on Friday that Nigeria has been accepted as a partner country in the multinational group.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/18/nigeria-becomes-the-ninth-brics-partn

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Benin: Driving the Caribbean-Africa Economic Corridor? [Business Africa]

Business • 5:56 PM

3 min

This week on Business Africa, we cover the resurgence of oil production in South Sudan, the strengthening of economic ties between Benin and CARICOM, and the impact of internet shutdowns in sub-Saharan Africa, which have cost billions of dollars.<div clas

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Enhancing trade relations: UAE and Kenya sign economic pact

Business • 3:25 PM

2 min

The UAE and Kenya have entered into a Comprehensive Economic Partnership Agreement (CEPA) designed to bolster trade and investment between the two countries.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/

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Nigeria: Inflation rate rises for fourth consecutive month

Business • 8:32 PM

1 min

In December, Nigeria's inflation rate increased for the fourth consecutive month, hitting 34.80 percent according to data from the statistics agency. That’s up from 34.60% in November.

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Why is Spain considering a 100% tax on homes bought by non-EU residents?

Business • 1:50 PM

3 min

Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100% tax on properties bought by non-European Union residents.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/

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New securities exchange in Ethiopia aims to attract private investors

Business • 12:12 AM

1 min

Ethiopia inaugurated its securities exchange on Friday, marking a significant step in Prime Minister Abiy Ahmed's efforts to liberalize the nation's heavily regulated economy and attract private investment.<div class="small-12 column text-center article__

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Ghana eyes extra IMF support as new government tackles economic crisis

Business • 2:05 PM

1 min

"The reliance on Treasury bills and others has not been very helpful,"<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/10/ghana-eyes-extra-imf-support-as-new-government-tackles-economic-crisis/?utm_sourc

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UN predicts world economic growth at subdued 2.8% in 2025

Business • 1:37 PM

3 min

European growth this year is projected to gradually pick up after a weaker than expected performance in 2024.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/10/un-predicts-world-economic-growth-at-subdu

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What is at stake for African sovereign debt in 2025? [Business Africa]

Business • 1:30 PM

2 min

Over 20 African countries will spend more on debt service than on healthcare or education in 2025. The picture gets even more complicated given interest rates are not expected to fall sharply. Over half of all total debt repayment will go to private credi

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Indonesia becomes latest BRICS member

Business • 11:38 AM

3 min

Indonesia has been admitted as a full member of the BRICS bloc of developing economies, the group's presiding country Brazil announced Monday<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/07/indonesia-

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Bitcoin turns sixteen amid record surge

Business • 2:28 PM

1 min

Last month, Bitcoin’s record rally topped $107,000 after Donald Trump said he planed to create a US Bitcoin strategic reserve similar to that of oil<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/04/bit

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Ghana passes provisional budget ahead of transition

Business • 3:08 PM

1 min

Ghana's parliament has passed a provisional budget that allows the government to spend $4.65 billion through March.<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/03/ghana-passes-provisional-budget-ahea

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Egypt’s tourism sector hits record revenues

Business • 2:24 PM

1 min

.Tourism was one of Egypt’s fastest-growing sectors, with an 8.2% growth rate, contributing significantly to the economy’s 3.5% growth in the first quarter of the fiscal year 2024/2025.<div class="small-12 column text-center article__button"><a href="http

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Africa 2024: contrasting Growth, shared Resilience [Business Africa]

Business • 5:06 PM

3 min

In this edition of Business Africa, we look at Africa's economic resilience in 2024, the innovation of the Inshelve app in Botswana and the rise of betting in Zimbabwe.<div class="small-12 column text-center article__button"><a href="https://www.africanew

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Nigeria to launch credit guarantee firm to boost economy

Business • 10:24 AM

1 min

“This initiative will strengthen the confidence of the financial system, expand credit access, and support underserved groups such as women and youth,”<div class="small-12 column text-center article__button"><a href="https://www.africanews.com/2025/01/02/

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Kenya Battles Invasive Indian House Crows

Business • 9:55 AM

3 min

Efforts to control the crows have been inconsistent over the years. A recent program using starlicide poison, proven effective in Djibouti and Eritrea, has culled over 5,500 birds in Kilifi, Malindi, and Watamu.<div class="small-12 column text-center arti

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Economic spotlight on Ghana, Nigeria, and Africa's Christmas Season {Business Africa}

Business • 7:40 PM

2 min

In Ghana, as a new administration takes office, the business community calls for fiscal discipline, job creation, and price stability. And from carnivals to gift-giving, Christmas in Africa drives retail sales, travel, and vibrant street parades in variou

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Biogas production units slash living costs for farmers in Egypt

Business • 2:33 PM

1 min

As interest in biogas as an alternative to fossil fuels increases, dozens of farmers in Egypt are installing biogas produciton units. The units produce cooking fuel and organic fertiliser from manure, and farmers say they have also cut living costs.<div c

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Apple soon to be valued at $4 trillion on the stock market

Business • 3:03 PM

3 min

Apple shares are on the verge of hitting a record $4 trillion valuation, buoyed by a sharp rise in its price. The company's recent advances in artificial intelligence (AI) and hopes of a recovery in iPhone sales have sparked excitement among investors.

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Top 10 most indebted countries in Africa

Business • 10:55 AM

2 min

IMF loans offer financial relief but often have strict conditions, including subsidy cuts, currency adjustments, and austerity measures. While

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Driving Change: Diaspora Investments, Urban Farming, and Tourism Growth in Africa {Business Africa}

Business • 8:16 PM

2 min

Malian Diaspora is Driving Sustainable Development Through Innovative Investments. Ciwara Capital is leveraging resources to boost agriculture, create jobs, and build climate resilience in Mali and as food insecurity grips Kenya, urban farming is transfor

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D-8 Summit: Leaders Address Gaza, Syria instability

Business • 5:30 PM

1 min

In his opening remarks, el-Sissi warned that Israel's ongoing war in Gaza, its spillover into Lebanon, and recent developments in Syria "will have repercussions that will affect everyone, politically and economically."

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Eskom reports R55 billion loss, predicts profit by 2025

Business • 3:27 PM

1 min

the embattled utility is optimistic about its future, forecasting a profit of over R10 billion for the fiscal year ending March 2025

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Iran's president to attend D-8 summit of developing nations in Egypt

Business • 8:58 PM

1 min

The summit takes place amid regional and global tensions including the Israel-Hamas war and the latest developments in Syria.

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Egyptian foreign minister condemns Israeli attacks in Syria

Business • 11:36 AM

1 min

The foreign ministers of Egypt and China discussed the situation in Syria during talks on Friday in Beijing.

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Beijing accuses US of 'politicising' trade after targeting Huawei again

Business • 11:18 AM

1 min

A new bill targeting Chinese telecom equipment makers Huawei and ZTE was passed by Congress on Wednesday. Beijing called the measure protectionism disguised as national security

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Cameroon becomes first importer of Dangote's petroleum

Business • 8:27 AM

1 min

The first export of 60,000 tonnes of refined petroleum went to Neptune Oil, a major distributor and retailer in Central Africa. The company said it was working with the refiner to establish 'a reliable supply chain that will help stabilize fuel prices and

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African development bank approves $108 million loan for Zambia

Business • 5:47 PM

2 min

The African Development Bank Group's Board of Directors has approved a $108 million loan to Zambia to enhance the nation's economic governance and implement reforms in essential public sectors.

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Burundi 2040: Is Corruption Undermining the Vision? [Business Africa]

Business • 4:11 PM

3 min

This week, we explore Burundi's ambitions to become an industrial economy by 2040, Burkina Faso's progress in industrialization through crowdfunding, and the potential of the leather and footwear sector in Nigeria.

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Food banks gain popularity as Nigerians grapple with high living costs

Business • 9:41 AM

5 min

With over 30 million Nigerians facing acute hunger, according to the United Nations, food banks — previously uncommon in the country — have become a vital and welcome lifeline.

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Morocco Sees Record 15.9 Million Tourists in 2024

Business • 5:52 PM

1 min

Morocco received a record 15.9 million tourists in the first 11 months of this year, surpassing the total in the entire previous year

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USA: McKinsey pays fine for corruption in South Africa

Business • 11:47 AM

1 min

An African subsidiary of consulting firm McKinsey & Company Inc. will pay a criminal fine of more than $122 million to end a U.S. Justice Department investigation into a years-long bribery scheme of South African officials, U.S. authorities said Thursday.

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Africa’s Green Economy: A Job Creation Revolution by 2030 {Business Africa}

Business • 6:31 AM

2 min

Africa's Green Economy is set to create 3.3 million jobs by 2030, driven by solar energy and climate-smart agriculture according a report while Zenith Bank Plc launches its Paris branch, a major milestone in its global expansion strategy.

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Bitcoin surges past $100,000, marking a major milestone in cryptocurrency’s journey

Business • 7:47 AM

2 min

Analysts view the $100,000 threshold as not just a psychological benchmark but also a signal of Bitcoin’s evolving role in the global financial ecosystem.

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Ramaphosa says G20 to caution itself from Trump's America First policies

Business • 7:12 AM

2 min

Ramaphosa reassured about the relevant steps they have taken as a group to caution against Trump's America First approach in his second administration, which starts on Jan. 20.

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South Africa poised to take over the leadership of the G20 on Sunday

Business • 8:07 PM

1 min

South Africa is poised to take over the leadership of the G20 on Sunday. This is the first time an African country is taking the presidency of a Group of 20 countries.

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Nigeria's Ngozi Okonjo-Iweala wins second term as WTO chief

Business • 3:58 PM

1 min

Her reappointment comes amid fears of a trade war when US president-elect Donald Trump assumes office in January.

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ILO says global wage inequality has declined but many challenges remain

Business • 10:51 AM

2 min

Its latest report showed that wage inequality has decreased globally at an annual rate of 0.5 to 1.7 per cent since 2000.

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