Aliko Dangote Urges Nigeria to Suspend Imports of Diesel and Aviation Fuel
“That is not good for the nation in terms of energy security and that is not good for markets in terms of monopoly,” Farouk Ahmed, head of the Nigerian Midstream and Downstream Regulatory Agency, told reporters. He explained that the refinery is still in the pre-commissioning stage and has not been licensed yet, and that relying […]
Superpower Rivalry Offers Africa Opportunities
Africa’s entire rail network is today only slightly larger than France’s and Germany’s combined. In west Africa only one cross-border line is still working. Very few railways in Africa are seen by private investors as commercially viable. However. America hopes rail investments can pull the resource-rich region into its orbit, and secure the minerals critical […]
Zambia’s Big Ask to Mining Companies
Officials have asked mining companies in Africa’s second-biggest copper producer to double their power-saving efforts to 40% of normal demand. Zesco Ltd., the state power utility, requested operators to increase curtailments or source their own emergency power from this month. Copper is crucial to Zambia and the industry generates about 70% of export earnings, so the […]
Starlink has Faced Numerous Regulatory Obstacles in Africa
The company has been blocked from approval in seven countries, including Côte d’Ivoire, Burkina Faso, DR Congo, South Africa, and Senegal. But some bans have been reversed — particularly after the company got in touch with top government officials. At the end of April the satellite broadband service owned by South African-born tech billionaire Elon […]
Two Countries in Africa Registered the Highest Year-on-year Increases in Military Spend in the world
In 2023, African countries spent a total of $51.6 billion, accounting for 2.1% of the world total. Still, this figure was a huge jump of 22% from the previous year. The huge 2023 jump was mainly driven by two countries ravaged by internal conflict – the DRC and South Sudan – and Algeria, which is […]
A Give-back Store in the Same Spot where Top Marathoners are Produced
The “Running Store & Coffee” shop, established in 2022, is operated by the Lyon-founded company Distance Athletics, an independent running shop with stores in Lyon, Paris and Copenhagen. The Distance Iten outpost, however, is distinct. Inside, second-hand shoes from brands such as On and Asics are available to local Kenyan runners, priced €2-€10 in local […]
Observers Believe the UK Government Will Seek to Develop Closer Trading Ties with Africa
The Labour Party manifesto said that “recognising the growing political and economic importance of African countries, we will deliver a new approach to the continent to foster opportunities for mutual long-term benefit.”Alex Vines, who leads the Africa Programme at the Chatham House think-tank in London, tells African Business that “the Foreign Secretary David Lammy has […]
The Informal Economy is both a Lifeline and a Bottleneck for Nigeria’s Economic Development
Businesses in Nigeria’s informal market, encompassing around 40 million small enterprises, contribute over half of the country’s Gross Domestic Product (GDP), according to a recent 2024 Informal Economy Report, powered by nine-year-old Nigerian payment startup Moniepoint. The report highlights that informal business owners are predominantly young, with most between 25-34 years old, and 89% of […]
Six African Tech Startups have been Named Finalists for the “Meet the Tôshikas” Programme
The two selected Angolan ventures are Anda, which is formalising the two-wheeler moto-taxi market; and Mamboo, which provides quick and seamless food and FMCG deliveries. The South African representatives are e-health startup Zoie Health, and Jobox, which helps university graduates get their first jobs. Zambia is represented by Bosso, which is building a platform to […]
Three Fingers are Pointing Back at Zambia’s Corruption Watch Dog
President Hakinde Hichilema has taken the extraordinary step of firing the entire board of the country’s corruption-busting body, after they themselves were accused of corruption, which they deny. It comes days after the head of the Anti-Corruption Commission (ACC), Thom Shamakamba, resigned from his post. Both he and the country’s solicitor-general – Marshal Muchende – […]
