Grey Awards $9500 to Women Entrepreneurs from Brazil and Nigeria through UpGreyed Her 2025
Grey, the global banking platform empowering digital nomads and businesses with borderless financial solutions, today announced the winners of its 2025 UpGreyed Her initiative. The equity-free grant program awarded $9,500 to four women-led businesses, marking the initiative’s successful expansion from its African roots to a global platform for women’s entrepreneurship. “Financial inclusion isn’t just about […]
South Africa Lobbies to Save Key US Trade Pact
South Africa is doubling down on its push to renew the African Growth and Opportunity Act (AGOA), a vital trade deal allowing duty-free exports to the US, as its September expiration looms. Despite the recent, tense televised exchange between Presidents Ramaphosa and Trump, South African officials used the Washington visit to quietly advocate for AGOA’s extension […]
Dangote Eyes Global Markets in Landmark Polypropylene Export Deal
Nigeria’s Dangote Petroleum Refinery has struck a major deal with global distributor Vinmar Group to export its polypropylene to international markets. The partnership follows the March launch of the polypropylene unit of Dangote’s petrochemical plant in Lagos. With a combined annual capacity of 830,000 metric tons, the facility is set to be Africa’s largest polypropylene production site. […]
The Battle to Lead Africa’s Key Development Bank
The race to lead the African Development Bank (AfDB) is heating up, blending political intrigue with continental stakes. On May 29, five candidates will vie for the top post, hoping to steer the bank through a critical era of shrinking foreign aid and stalled infrastructure growth. Though they share similar visions—job creation, trade, and integration—the contest […]
Nigeria Pauses Interest Rate Hikes as Inflation Slows and Naira Stabilizes
Nigeria’s central bank has opted to hold its benchmark interest rate at 27.5% for the second time this year, signaling a cautious approach as inflation shows signs of easing. The decision, made unanimously by the Central Bank of Nigeria’s Monetary Policy Committee, comes amid narrowing exchange rate gaps, lower fuel prices, and early relief from food inflation. […]
Africa’s Billionaire List Grows with Car-Tracking Tycoon Zak Calisto
Africa has welcomed a new dollar billionaire—Zak Calisto, the founder and CEO of Karooooo Ltd., a vehicle tracking and fleet management firm formerly known as Cartrack. The company’s addition of AI-powered services led to rapid subscription growth, driving a surge in earnings and boosting Calisto’s net worth. Calisto owns a two-thirds stake in the company. Karooooo […]
Ghana Bets Big on Artisanal Gold to Spark $12B Mining Boom
Ghana is banking on small-scale gold mining to deliver a $12 billion annual windfall from next year, doubling its current output to tap into record-high global prices. With artisanal miners driving over a third of the country’s gold exports, which jumped 50% to $11.6 billion last year, the government has launched a new regulator to formalize trade […]
IMF-Driven Cuts Slash African Public Workers’ Wages by Half
A recent ActionAid report reveals that public sector workers in the health and education sectors of six African countries—Ethiopia, Ghana, Kenya, Liberia, Malawi, and Nigeria—have experienced wage reductions of up to 50% over the past five years. This decline is attributed to austerity measures and budget cuts influenced by International Monetary Fund (IMF) policies, which prioritize debt […]
UK Watchdog Bans Third Ex-Credit Suisse Banker in Tuna Bonds Scandal
The UK’s Financial Conduct Authority has banned Detelina Subeva, a former Credit Suisse banker, from working in financial services over her role in Mozambique’s $2bn “tuna bonds” scandal. Subeva received $200,000 in bribe money from her then-colleague (and romantic partner), Andrew Pearse, and kept it despite later learning it was illicit. Though she claimed the funds […]
South Africa’s New ICT Draft Could Welcome Starlink at Last
South Africa is reworking its ICT policy to attract global players like Elon Musk’s Starlink by offering more flexible compliance options. The new draft policy introduces equity equivalent investment programmes (EEIPs), allowing foreign companies to support digital inclusion projects instead of handing over local ownership stakes. The draft marks a significant shift from the existing 30% local […]