President says country “will get out of this turbulence” Staff Writer, ZAWYA August 1, 2023 Nigeria’s new President Bola Tinubu has outlined measures to cushion the impact of the removal of fuel subsidies in Africa’s biggest economy in the form of a 500 billion naira ($632 million) supplementary budget approved by parliament. In a speech…
Reuters July 31, 20239:45 AM GMT+3 JOHANNESBURG, July 31 (Reuters) – The South African rand edged higher in early trade on Monday after a strong July performance, ahead of monthly trade data that could provide some clues on the health of the economy. At 0615 GMT, the rand traded at 17.5800 against the dollar ,…
By Rédaction Africanews Nigeria’s suspended Central Bank governor, Godwin Emefiele, appeared in court on Tuesday in Lagos on charges of illegal possession of a firearm and live ammunition. Emefiele was suspended in early June by Nigeria’s new president Bola Tinubu and subsequently detained by the Department of State Services (DSS), the country’s secret police. He…
Story by Jacopo Prisco, video by Adrian Lydon, CNN In Nelson Mandela Bay, in the Eastern Cape of South Africa, thousands of hectares of land could one day become the world’s largest green ammonia plant. Ammonia, which is made up of nitrogen and hydrogen, is commonly used as a fertilizer. In the early 1910s scientists…
By Rédaction Africanews and Agencies Following a budget plan presented by the ministry of finance on Sunday, Zambia’s economy is projected to grow by just 2.7% in 2023, down from 4.7% in 2022, as contractions in the mining and energy sectors restrain growth. After becoming the first country in Africa to default on its sovereign…
By Rédaction Africanews African leaders gathered Sunday (July. 16) in Gigiri, Nairobi County for the African Union’s fifth Mid-Year coordination meeting. The summit aimed among other things to address critical issues of African integration and division of labour. The meeting was led by Kenya’s President. William Ruto called for a reform of the AU focusing…
By Rédaction Africanews and AP The suspended governor of the Central Bank of Nigeria was charged after a month in detention under a court directive Thursday that officials act against the man or let him go, the secret police agency announced. Godwin Emefiele was charged after being investigated for alleged “criminal infractions,” said Peter Afunanya,…
The COMESA Commission has also recently issued Draft Guidelines on Fines and Penalties, Draft Guidelines on Settlement Procedures and Draft Guidelines on Hearing Procedures Staff Writer, Africa Business July 11, 2023 By Lerisha Naidu, Partner, Angelo Tzarevski, Associate Director, Sphesihle Nxumalo, Associate and Zareenah Rasool, Associate, Competition & Antitrust Practice, Baker McKenzie Johannesburg Baker McKenzie’s…
Staff Writer, Mubasher UAE – Dubai-based human resources technology (HR tech ) startup alfii secured $2.50 million in pre-seed funding to expand its team and widen its product offerings, according to a press release. US-based Preface Ventures, Kayan Ventures, UAE-based Aditum Ventures, and Wayfinders led the fundraising, along with a number of local and regional angel…
By Africanews Protestors were out in force this Friday in the Kenyan city port of Mombasa to demonstrate against a raft of controversial tax increases. “We are tired” chanted the demonstrators as they clashed against police forces. Kenyan president, William Ruto, signed a law last week imposing new taxes on Kenyans already suffering from a…
