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Tuesday, January 28, 2020

Business & Finance

African continental free trade pact comes into effect

The African Continental Free Trade Agreement legally came into effect at midnight, but the countries that have signed up have until July to work out the details of how it will work. It...

Tanzania, China disagreement on terms for $10b port stalls project

A ten billion dollars port project in Tanzania backed by China has hit an impasse, with the two sides disagreeing on terms of the infrastructure investment, a senior Tanzanian port official said on Wednesday. 

Price of electricity goes up in Egypt to spur economic recovery

Egypt's electricity minister announced a further price rise Tuesday, the latest in a series of austerity measures aimed at getting the country's economy back on track.The latest price hike, which is due...

Gambia signs oil exploration deal with BP

Gambia’s government said on Tuesday it had signed a contract with BP to explore oil and gas off its coast. Minister of Petroleum and Energy Fafa Sanyang said BP would first carry out...

Oil prices up to near 5-month highs as global markets tighten

Oil prices rose to fresh 5-month highs on Tuesday as markets tightened amid OPEC-led supply cuts, U.S. sanctions against Iran and Venezuela, and escalating violence in Libya.International benchmark Brent futures hit their...

Growth in sub-Saharan Africa remains below 3%, 3 yrs after crisis – World Bank

Growth in Sub-Saharan Africa has been downgraded to 2.3 percent for 2018, down from 2.5 percent in 2017, according to the April 2019 issue of Africa's Pulse, the World Bank's bi-annual analysis of the state of African...

South Africa’s FDI inflows hits 5-year high in 2018

South Africa’s foreign direct investment (FDI) inflows rose to a five-year high of 70.7 billion rand ($4.9 billion) in 2018 from 26.8 billion rand the prior year, the central bank said on Wednesday, despite outflows in...

Rwandan minister unveil plan to open Smartphone factory

A factory to produce smartphones is expected to open in Rwanda and enhance access to digital services, officials have said.The plan was unveiled by the ministry's officials on Thursday while appearing before...

Total makes significant gas discovery offshore South Africa

French oil and gas major Total said it had made a significant gas condensate discovery after drilling its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin, offshore South Africa. Total said the...

Bitcoin exchange CEO’s death puts $137m out of reach

A Canadian cryptocurrency exchange was granted bankruptcy protection on Monday after its president took passwords for accounts containing Can$180 million ($137 million US) to his grave when he died suddenly.In a statement,...
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Amnesty International condemns Ethiopia for mass arrest of Oromo people

Leading rights group Amnesty International says that at least 75 supporters of the Oromo Liberation Front (OLF) have been...
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Nigerian international Orji Okonkwo ‘feels lucky’ to play under Thierry Henry

Nigeria youth international Orji Okonkwo feels lucky to return for a second loan spell with Major League Soccer (MLS) side Montreal Impact under manager...

France urges US to stay in fight against Islamists in Africa

France hopes “good sense” will prevail and the United States will not slash support for French military operations in West Africa, where groups linked...

Beninese singer Angélique Kidjo dedicates her Grammy to Burna Boy

The Beninese singer Angélique Kidjo has dedicated her Grammy award to the Nigerian singer Burna Boy who was up against her to win the...

Gambia cracks down on protest movement, 3 dead, 137 arrested

The Gambian government on Sunday launched a crackdown on a weeks-old movement demanding the departure of President Adama Barrow, following violent demonstrations in which...