Dangote’s Oil Refinery Received its First Cargo of 1-million Barrels of Crude Oil
The delivery from Shell International Trading and Shipping Co (Stasco), brings the start of operations closer after years of delays. Dangote Group said in a statement on Friday that the cargo of 1-million barrels of crude from Agbami, a deep-water field run by Chevron, is the first of 6-million barrels that will enable an initial […]
How Africa Can Unlock World’s Most Promising Net Zero Solution
African countries must stop selling land rights cheaply if they are to extract more value from the “tarnished and depreciated” global carbon credits market, according to a new report from the Africa Finance Corporation (AFC). “Instead of maximising economic value from our natural assets, countries are engaging in the wholesale long leases and sale of […]
Ethiopia’s Central Bank is Fast-tracking the Rollout of a New Legal Framework
Financial services authorities are poised to place a ceiling on the maximum number of shares foreign investors could own in local banks. This is in contrast with regional trends within the East Africa region which have enabled full mergers and acquisitions. Ethiopia’s government is keen to benefit from foreign investment but wants to prevent smaller […]
The AfCFTA Offers Unique Opportunities for AI
AI can help improve trade logistics by making delivery systems, customs processes, and tracking and tracing more efficient. It can find the best ways to move goods, predict delays, and give traders real-time information. In addition, AI can analyze trade data to identify patterns, trends, and connections. This can help policymakers make better choices and […]
There are Some Concerns about New Nuclear Power in East Africa
The first is financial. The construction cost of a new nuclear plant typically stands at about US$5 billion per 1,000MW. The cost of a 2,000MW build in Uganda would be of the order of that country’s annual total tax revenue. As such, the project would rely on massive loans, which also come with considerable interest. […]
Nigeria Tops Ranking of the Richest African Countries
According to IMF growth projections, this ranking should not experience any upheaval in the years to come. Nigeria, the most populous country on the continent, with more than 200 million inhabitants, will remain Africa’s leading economy for a long time to come. The country should even see its wealth grow and reach a GDP of […]
Russian Business Meets with Key African Union Leaders to Discuss Climate Initiatives
These discussions involved Mr. Azali Assoumani, the Chairman of the African Union and the President of the Union of the Comoros Islands, Dr. Gayo Asherbir, the President of the Pan-African Parliament, and Mr. William Ruto, the President of Kenya and Chair of the Committee of African Heads of State and Government on Climate Change. The […]
Meet the Startups Selected for the Latest Edition of Grindstone Africa
Grindstone, founded in 2013 and co-owned by Knife Capital and Thinkroom Limited, is renowned for assisting high-growth, innovation-driven companies to scale their businesses. The 2023 programme, sponsored by Absa, represents the latest edition. Eight startups have been selected to take part, seven of which are from South Africa, and one from Lesotho. DISRUPT AFRICA
In Ghana, Internet Access has Become a Luxury Beyond the Reach of Many
One of the country’s leading network providers has increased tariff charges on data and voice products. Experts say the move could push a significant portion of the population out of the digital economy. DW
The First Triassic Discovery in sub–Saharan Africa
Energy companies have discovered natural gas in northern Zimbabwe, near the country’s northern border with Mozambique and Zambia. The Zimbabwean government hopes the discovery, if it can be exploited, will help reduce the need for expensive imported energy. In a statement Thursday, Zhemu Soda, Zimbabwe’s minister of mines and mining development, described the discovery made […]
