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Zimbabwe wants gold, diamond and platinum miners to pay half of their royalties to the government in the commodities themselves and the rest in cash, as the southern African country seeks to build its mineral reserves. The Treasury was concerned that the country does not have reserves of the minerals, which “serve as a source […]
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Botswana has resumed exports of live cattle and beef from areas declared free of foot-and-mouth disease but sales to Europe, which has tougher import restrictions, remain suspended. In August, Botswana suspended beef exports following an outbreak of foot-and-mouth disease in one of its disease control zones in the northeast. The slaughter of cloven-hoofed animals from […]
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Ugandan fintech startup Numida, which uses proprietary credit models and tech-enabled underwriting processes to provide unsecured working capital loans to African micro and small businesses (MSBs), has raised a US$12.3 million pre-Series A round of equity and debt funding to help it expand its team and move into new markets. Launched by Mina Shahid, Catherine […]
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The World Bank has approved a US$750 million credit line for Nigeria to help the country push through reforms to attract investment and create jobs. Several states in Nigeria are struggling to pay wages due to low revenues and are resorting to borrowing from the domestic bond market and banks to fund infrastructure projects. The […]
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The southeastern African country of Malawi is reaping US benefits following a series of political and economic reforms under President Lazarus Chakwera. The Malawian leader visited the State Department this week for the signing of a $350m grant to improve the country’s roads and land administration. This new Millennium Challenge Corporation (MCC) compact comes just […]
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A significant link between air quality and professional sports has pushed Senegal to install air cleaning and monitoring devices in its stadiums, four years before it hosts the 2026 Youth Olympic Games in Dakar, Africa’s first Olympic event. A growing body of research shows that oxygen quality is fundamental to athlete performance and longevity, spectator […]
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By Cecilia Russell Child marriage continues to be a scourge in many African countries – despite legislation and efforts of many, including parliamentarians, to keep girls in school and create brighter futures for them. This was the view of participants in a recent webinar held under the auspices of the African Parliamentary Forum on Population and […]
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UK-headquartered oil giant Shell has acquired Daystar Power, a Nigeria-based provider of hybrid solar power solutions to commercial and industrial businesses, as it launches its renewable power presence in Africa. The deal, which is subject to regulatory approvals, marks a significant acquisition for Shell which has long been active in the continent’s hydrocarbons market but […]
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The country plans to reduce its budget deficit next year, even as it makes further cuts to copper mining royalties, Finance Minister Situmbeko Musokotwane said. The spending shortfall will shrink to 7.7% of gross domestic product in 2023, from a revised 9.8% forecast for this year, Musokotwane told lawmakers Friday in Lusaka, the capital. Restructuring […]
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Silicon Valley-based startup Polygon is joining Africa’s blockchain revolution, targeting to support the continent in the next phase of blockchain advancement after millions of dollars were injected into the tech sub-sector last year. Polygon, a Web3 blockchain network used by Meta, Adidas, Mercedes-Benz, Stripe, and Reddit plans to train at least 2,000 professionals in ethereum […]
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Captain Ibrahim Traore of the Burkina Faso army has deposed military leader Paul-Henri Damiba and dissolved the government in the West African country’s second coup in eight months; he said in a statement on national television on Friday evening. Traore stated that a group of officers who assisted Damiba in seizing power in January had […]
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The NDC Investment Awards Ceremony, will take place on the 8th of November 2022, in collaboration with the host partner, the African Green Infrastructure Investment Bank (AfGIIB), at COP27 in Sharm El Sheikh, Egypt. These first-of-their-kind Awards, sponsored by the African Green Infrastructure Investment Bank (AfGIIB), are designed to recognize achievements across the main NDC project sectors […]
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