Ethiopia is constructing Africa's largest airport, a four-runway facility near Bishoftu, 25 miles from Addis Ababa, expected to serve 110 million passengers annually. The "Mega Airport City" is set to cost £6 billion for its first phase, with completion anticipated by 2029. Ethiopian Airlines' CEO, Mesfin Tasew, highlighted the ambitiou...
Sending money to sub-Saharan Africa remains a significant financial burden for many families, particularly those dependent on remittances from relatives living abroad. As of mid-2024, the average remittance fee stands at a staggering 8.37% per transaction. This percentage is not just a number; it represents a profound challenge for low-income...
In the fourth quarter of 2024, Nigeria's GDP surged by 3.84% year-on-year, marking its strongest growth in three years. This rebound was largely driven by a 5.37% expansion in the services sector, pushing full-year growth to 3.40%, up from 2.74% in 2023. Although this impressive performance falls short of President Tinubu's ambitious 6% targe...
Volkswagen, the renowned German automotive company operating from Wolfsburg, is poised to revolutionize agriculture in Nigeria by introducing cutting-edge e-tractors. This groundbreaking initiative, unveiled by Nigeria's Foreign Affairs Minister, Hon. Yusuf Maitama Tuggar, following fruitful discussions with Germany's Katja Keul at the G20 Fo...
In a significant development, investors holding Ethiopia's $1 billion defaulted bond have raised concerns over the International Monetary Fund's (IMF) recent analysis of the country's debt relief requirements. The bondholders, who collectively own 40% of Ethiopia's sovereign debt, argue that the IMF has failed to accurately account for Ethiop...
Microsoft has revealed an ambitious plan aimed at empowering one million Nigerians with artificial intelligence and digital skills within the next two years. This initiative, funded with $1 million, is in collaboration with organizations such as Tech4Dev and Data Science Nigeria. Microsoft believes that AI will be a significant force in drivi...
South Africa's government has confirmed that it is open to nuclear energy proposals from Russia and Iran as it seeks to add 2,500 megawatts to its existing Koeberg nuclear plant. Minister of Mineral and Petroleum Resources, Gwede Mantashe, emphasized that no country will be prohibited from submitting bids, despite concerns from the United Sta...
Former Mauritian Prime Minister Pravind Jugnauth has been granted bail by a magistrate in the country's capital, Port Louis. Detectives from the state-run Financial Crimes Commission had arrested and charged Jugnauth with money laundering after they discovered approximately $2.5 million during a search of his home. The magistrate, Risha...
In a dramatic turn of events, Tigran Gambaryan, a prominent executive at Binance, has levied serious allegations against three Nigerian lawmakers. Gambaryan's claims center around an alleged bribe request amounting to a staggering $150 million in cryptocurrency. This scandalous accusation has captured the attention of many and raised questions abou...
Babacar Seck, Managing Partner at Askya Investment Partners, challenges the narrative that Africa is unprepared for the artificial intelligence revolution, arguing that the continent is uniquely positioned to become a major player in the AI arena. He emphasizes that AI is not just another tech trend but the foundation for future value creatio...
The Nigerian Export Promotion Council (NEPC) has disclosed that Nigeria exported 7.2 million tons of non-oil products, valued at $5.45 billion, in 2024. According to Dr. Nonye Ayeni, the NEPC's director, the West African country exported 20.7% more non-oil produce in 2024 than in 2023, expanding its export destinations to 126 countries. ...
January 2025 marked the hottest month on record, with global temperatures reaching 1.7°C above pre-industrial levels. Despite expectations that the natural La Niña phase of the El Niño–Southern Oscillation would bring slight cooling, the record heat indicates that human-driven ocean warming is overwhelming natural climate fluctuations. Typica...
The Ethiopian government has announced an ambitious second-phase corridor development project aimed at transforming Addis Ababa's infrastructure and landscape. According to the Office of the Prime Minister, the project will span 2,879 hectares and involve the construction of 477 km of roads—comprising 240 km of asphalt roads and 237 km of ped...
Nigeria's Securities and Exchange Commission (SEC) is set to ramp up the licensing of crypto activities in 2025, aiming to establish a clear regulatory framework for the country's growing digital asset market. Since launching its Accelerated Regulatory Incubation Programme (ARIP) in June 2024, the SEC has already issued provisional licenses t...
Guinea's Simandou mining project, poised to become the world's largest, is gaining attention with its innovative approach of allocating 5% of its revenues to education. This initiative aims to develop the country's human capital as part of a sustainable development strategy. With mining operations set to commence in 2026, the Guinean governme...
A fourth group of Kenyan police arrived in Haiti on Thursday to help combat violent gangs, despite a partial U.S. funding freeze for the U.N.-backed mission. The 200 officers join over 600 Kenyans already working alongside Haitian police, as part of a multinational effort including Jamaica, Guatemala, and El Salvador. This comes after the U.S. froz...
Abuja has responded to US President Donald Trump's 90-day freeze on most foreign aid by forming a committee to create a transition and sustainability plan for health programs funded by the United States Agency for International Development (USAID). The committee, comprising officials from the ministries of finance, health, and environment, se...
The African Development Bank (AfDB) has introduced a groundbreaking proposal to establish a new "gold standard" currency system backed by Africa's critical minerals, such as cobalt, copper, lithium, and manganese. The initiative is designed to leverage Africa's vast natural resources — which account for approximately 30% of the world's reserv...
Rwanda-backed rebels who took control of Goma, a crucial city in eastern Congo, have declared a unilateral ceasefire in the area for humanitarian purposes. The M23 group made this announcement on Monday, responding to calls for a safe passage for aid and the needs of hundreds of thousands of displaced individuals. Goma is situated in a region...
In recent years, Southern Africa's luxury market has faced challenging times, but it is now poised for a resurgence, especially as people seek unique and high-quality experiences post-pandemic. One of the driving forces behind this growth is the rise of "bleisure travel" — a blend of business and leisure travel, which is reshaping the hospita...
