Burkina Faso Moves to Fully Nationalize Cotton Firm
Burkina Faso is moving to fully nationalize Sofitex, the country’s main cotton company, as part of a wider push to…
Category: Business
Africa Faces an 86 Million Tonne Fuel Shortfall by 2040
The Africa Finance Corporation said the continent is heading towards an 86 million tonne fuel shortfall by 2040. In a…
Markets Slide After Trump Orders Hormuz Blockade
Global markets have been rattled after Donald Trump announced a US naval blockade of the Strait of Hormuz, escalating tensions…
Dangote Refinery Begins Fuel Exports Across Africa Amid Middle East Disruptions
Dangote Refinery said it has begun exporting fuel to several African countries as rising global oil prices linked to tensions…
Kenya Airways Bookings Jump As Middle East Tensions Reshape Travel
Kenya Airways said bookings on its flights have surged in recent weeks as disruptions tied to tensions in the Middle…
Nigeria Eyes Oil Output Boost As NNPC Targets 1.8 Million Bpd
Nigeria could increase its oil production by about 100,000 barrels per day over the next few months, the head of…
Musk’s Starlink Denied Telecoms Licence In Namibia
Namibia said Monday it had rejected a request for billionaire Elon Musk’s Starlink to operate its satellite internet services in…
Meta Shuts Down VR Metaverse After $84 Billion In Losses
Meta is overhauling its immersive platform Horizon Worlds, signaling a major shift away from its earlier metaverse ambitions and toward…
Dangote Refinery Cuts Fuel Prices as Global Oil Volatility Pressures Nigeria
Despite being one of Africa’s leading oil producers, Nigeria remains exposed to global price shocks—especially amid escalating tensions linked to…
Companies Evacuate Dubai Financial District After Iran Threats
Several multinational companies in Dubai closed offices or asked employees to evacuate on Wednesday after Iran threatened to target U.S.…
Ghana Bans Land Imports of Pasta to Support Local Production
The decision was announced by Ghana’s finance ministry in a post on X on Monday. The ministry also revealed new…
African Mobile Operators Plan $40 Smartphone to Expand Internet Access
Africa’s leading mobile network operators are planning to introduce a $40 smartphone in six African markets as part of a…
War in the Middle East Drives Oil Over $100
Oil prices have surged past the $100 mark, as conflict in the Middle East intensifies.Brent crude jumped 17 percent today…
AfDB, Air Côte d’Ivoire Sign Pact to Boost Aviation Financing
The African Development Bank Group and Air Côte d’Ivoire have signed a letter of intent to explore cooperation aimed at…
Nigeria’s Dangote Refinery Expands Gas Deals With NNPC
Reuters – Three Dangote Group subsidiaries said on Monday they had bolstered gas supply contracts with NNPC units to support…
Kenya launches IPO of state oil pipeline firm
Kenya began selling a 65% stake in its state oil pipeline company on Monday, seeking to raise 106.3 billion shillings…
Crude Oil Prices Rise As Global Market Weighs Supply Risks
Oil prices rose two per cent at the weekend on growing supply worries linked to intensifying protests in oil-producing Iran,…
Tesla Loses Title As World’s Biggest Electric Vehicle Maker
AP – Tesla lost its crown as the world’s bestselling electric vehicle maker on Friday as a customer revolt over Elon…
Energy Consortium Secures $50 Billion to Build Africa’s Second-Largest Refinery in Nigeria
An international energy group has secured a $50 billion investment to construct what will become Africa’s second-largest oil refinery in…
Amazon Warns Perplexity AI Over Shopping Feature on Comet Browser
Artificial intelligence startup Perplexity AI said on Tuesday that it has received a legal notice from Amazon, demanding that it…