US Imposes Sanctions on Ex-Ugandan Military Commander
Uganda Should Investigate 2016 Massacre by Security Forces On May 30, the US government announced travel sanctions against five former and current Ugandan government officials, including Peter Elwelu, the former deputy chief of the Ugandan Peoples’ Defence Forces (UPDF). The US State Department announced that Elwelu was sanctioned due to “extrajudicial killings that were committed by members […]
Rand Reacts to SA’s Election Results
Investors in South Africa had positioned for an election outcome where the ruling African National Congress could comfortably govern in coalition with a smaller party. But projections hinting at a significant erosion in ANC support have rattled those expectations and unleashed a flood of uncertainty. The rand plummeted after a model developed by a state […]
Tracking Africa’s Gold
As much as $35 billion worth of gold produced by artisanal and small-scale mining in Africa goes undeclared and then smuggled out, a report published on Thursday claims. According to Switzerland-based aid and advocacy organization SwissAid, a total of 435 tonnes of gold was illegally taken out of Africa in 2022, with the majority of […]
BHP Walks Away from its Proposed Deal with Anglo American
“BHP will not be making a firm offer for Anglo American,” said CEO Mike Henry. “While we believed that our proposal for Anglo American was a compelling opportunity to effectively grow the pie of value for both sets of shareholders, we were unable to reach agreement with Anglo American on our specific views in respect […]
This East African Country is Inching Closer to Becoming India’s Largest Trading Partner in Africa
Tanzania’s trade with India has grown at a very impressive pace, growing over 20% during the fiscal year. Media reports cited the statement from the High Commission of India in Dar es Salaam, revealing that trade between Tanzania and India increased by 22% in the last fiscal year. Their bilateral trade value went up from […]
New Port Could Help Morocco Become a Maritime Hub for Worldwide Trade
A $1.2 billion megaproject is expected to complete in 2028. Spanning 1,650 hectares, the complex will include a trade port with an oil terminal, a fishing port and a shipyard. There will be a bridge linking the port to the land and a 7-kilometer road that connects the port with a national highway that runs […]
Nigeria’s Cracking Down on Illegal Mining
Recent arrests come as Nigeria seeks to regulate its mining operations of critical minerals, curb illegal activity and better benefit from its mineral resources. The clean energy transition, a shift away from coal, oil and gas and toward renewable energy and batteries has spiked global demand for lithium, tin and other minerals. Illegal mines are […]
Lusaka Set to Exit Debt
Earlier this week, Zambia’s ministry of finance said that more than 90% of holders of its $3 billion in outstanding international bonds had accepted its restructuring proposal so far, paving the way for the country to emerge from a lengthy default. However, on the basis of the instructions the government had received by May 24, […]
Spotlight on Nigeria’s SME Landscape
A new study from Visa, the SME Megatrends report, delves into the ever-evolving financial landscape for Small and Medium Enterprises (SMEs) in Nigeria. The report identifies significant opportunities for growth and innovation, particularly in the digital and financial domains, with clear insights that can be leveraged by issuing banks to unlock new revenue opportunities and […]
Botswana is Hoping for a Quick Separation of De Beers
The world’s top diamond producer by value, is finalising a new 10-year gem sales deal agreed last June with De Beers. The two parties had agreed to finalise the deal by June 28 this year, but the proposed takeover of Anglo by the BHP Group has brought uncertainty to the sales agreement. The renewal of the […]
