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The meeting saw a keen focus on economic growth from African delegates and the launch of the Private Sector Action Plan, a first-of-its-kind initiative between the World Economic Forum and the African Continental Free Trade Area (AfCFTA) Secretariat. The initiative is comprised of 40 global companies. The announcement came after President Paul Kagame of Rwanda […]

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Standard Bank Chairwoman Nonkululeko Nyembezi was one of the first delegates from Africa to tackle this sensitive subject. According to the International Monetary Fund, more than half of the low-income countries in the region are now at a high risk of losing control of their debt, or are already in debt distress. Ethiopia became the […]

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Hindenburg Research, known for sniffing out corporate scams, took aim in June at an obscure Nigeria-based outfit named Tingo Group. Hindenburg rolled out a report with a title that left little to the imagination: “Fake Farmers, Phones, and Financials – The Nigerian Empire That Isn’t.” But Hindenburg didn’t just call Tingo a clear-cut scam. The […]

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The Kitwe-based Copperbelt Energy Corporation issued the bond through its subsidiary CEC Renewables and intends to use the capital raised for solar, wind, and other renewable energy projects across Zambia. The initial $54m tranche has been fully subscribed since its listing last week, with Zambia’s inaugural green bond attracting interest from banks, financial institutions, and […]

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Credit rating agency Fitch has said that the Central Bank of Nigeria (CBN) still lacks the foreign exchange to clear the backlog of demand. It noted that the country’s high-interest payment to revenue ratio weighs on its sovereign credit rating. Gaimin Nonyane, director of Middle East and Africa sovereigns with Fitch said foreign exchange shortages […]

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Transsion,  the Shenzhen, China company shipped 95 million units of smartphones last year, 30.8% more than it did in 2022, according to technology research firm International Data Corporation. That was above Apple’s 3.7% growth, while Samsung, Xiaomi and OPPO each shipped fewer phones in 2023 than in the previous year. Africa is Transssion’s largest market, […]

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African nations are wrestling with various challenges that directly impact the well-being of their citizens. Economic inequalities remain a significant obstacle, as disparities in income and employment opportunities persist. In Africa, governments are getting down to business to bridge economic gaps. Their focus is on championing inclusive economic growth, fostering entrepreneurship, and investing in job […]

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The International Monetary Fund’s board approved a first review of Ghana’s loan programme on Friday, allowing for the immediate disbursement of about $600 million under its $3 billion bailout programme. The decision comes after the gold, oil and cocoa producer reached a deal to restructure $5.4 billion of loans with its official creditors, a key […]

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In 2018, the tech giant launched its first AI research centre on the continent in Accra, Ghana. In 2022, it expanded its presence by opening a product development centre in Nairobi, Kenya. The Accra Center, also known as Google Research Africa, is a hub for cutting-edge research and innovation, where a team of mostly African […]

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Kedougou, one of the poorest regions of Senegal, is home to over 20 nationalities. Foreigners, mainly from other countries in West Africa, come to Kedougou to try their luck in striking gold. Gold mining is not new in the region bordering Mali and Guinea. Farmers and villagers have practiced it on an artisanal level for […]

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Mohammed Badaru Abubakar’s comments come as a deadline to pay a ransom for the release of five sisters expired. The six sisters, aged from the early teens to 23, were taken hostage in the Abuja suburb of Bwari along with their father Mansoor Al-Kadriyar, who was later released to raise the ransom. His 21-year-old daughter, […]

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On Wednesday night, Humanity 1’s crew had received two different Mayday calls about boats in distress, and they desperately tried to clarify whether there was another boat nearby. The first Mayday came from Frontex, the European border control, regarding a wooden boat carrying 40 people and the other from Alarm Phone, [a hotline for people […]

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