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Category: Africa

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Kenya Economic Growth Beats Estimates as Agriculture Slump Ends

-July 4, 2023

Kenya’s economy grew faster than anticipated in the first quarter after the agriculture sector snapped four consecutive quarters of contraction. Gross domestic product in the three months through March rose 5.3% from a year earlier, compared with an downwardly revised 3.7% in the previous quarter, Kenya National Bureau of Statistics said in an emailed report […]

Ghana Gets China-Led Financing Assurances to Tap IMF Bailout

-May 13, 2023

Ghana clinched financing assurances from a bilateral creditors group that China and France are co-chairing, paving the way for the International Monetary Fund’s board to approve a $3 billion bailout. The official creditors committee formally constituted Friday, and its members are committed to negotiating with Ghana terms of a restructuring of their claims to be […]

Nigeria Targeted a UK Mansion; Its Next Leader’s Son Now Owns It.

-May 2, 2023

A firm belonging to the son of Nigeria’s president-elect bought an $11 million London mansion that his predecessor’s government was seeking to confiscate as part of a probe into one of the biggest corruption scandals in the West African nation’s history, according to previously unreported UK company documents. There’s no suggestion that President-elect Bola Tinubu […]

Morocco supplying Spain with Russian diesel – El Mundo  

-May 1, 2023

Morocco is purchasing Russian diesel and other refined products at discounted prices and re-exporting the fuel to Spain, El Mundo reported on Friday, citing ship tracking sources. Data from navigation tracking portal Vesselfinder showed that, on April 28, at least three tankers were heading from Russia’s Baltic ports to Morocco carrying approximately 170,000 tons of […]

China calls for UN Security Council reform

-May 1, 2023

China’s top diplomat has called for developing nations to have more of a say at the UN Security Council. Wang Yi’s remarks came a week after Russian Foreign Minister Sergey Lavrov made a similar suggestion, saying Western powers are overrepresented in the key international body. During a meeting with Kuwait and Austria’s ambassadors to the […]

President-Elect Tinubu Returns to Nigeria From Europe

-April 26, 2023

Nigerian President-elect Bola Tinubu returned to the West African country before his inauguration in May, after more than a month away in France.  The former governor of Lagos state landed in the capital, Abuja, on Tuesday, according to a statement by his spokesman, Tunde Rahman. Tinubu is scheduled to take over from his ruling party […]

Ghana’s Top Banks Post First Loss as Nation Restructures Debt

-April 26, 2023

Ghana’s move to restructure its local-currency and overseas debt has resulted in the first loss on record for two of the West African nation’s top banks.  GCB Bank Plc, the country’s largest lender by assets, posted a 593.4 million cedis ($50.5 million) net loss for the year to end-December, its first since 1993 when Bloomberg started maintaining […]

South Africa vows to quit ICC following Putin warrant

-April 26, 2023

The South African government has decided to again attempt a withdrawal from the International Criminal Court (ICC), President Cyril Ramaphosa announced on Tuesday. His statement comes as the forthcoming BRICS summit, to be hosted in Durban in August, has been handed a logistical problem by The Hague’s based organization’s targetting of Russian President Vladimir Putin. […]

Italy touts money for reforms as EU discusses upheaval in Tunisia

-April 25, 2023

Italy offered Tunisia a prospect of money in exchange for economic and political reforms as EU foreign ministers discussed on Monday how to respond to growing instability in a country that is a gateway for African migration to Europe. With the number of people crossing the Mediterranean in smugglers’ boats on the rise, Italy’s conservative […]

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