Category: African Business
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Nigerian Government Announces Plans for 4 New Refineries by South Korean Investors
A South Korean consortium plans to build four 100,000-barrel capacity refineries in Nigeria, according to Heineken Lokpobiri, the country’s Minister of State for Petroleum Resources. Speaking at the Crude Oil Refineries Owners Association of Nigeria summit, Lokpobiri revealed the government’s approval to invite the investors and emphasized its commitment to fostering a conducive environment for…
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The Path of an African Fashion Designer in an Untapped Market: Pioneering a Creative Legacy
Investing in a country that lacks a creative platform can feel like venturing into uncharted territory—challenging yet brimming with untold potential. As an African fashion designer, building a brand in such an environment requires not just talent, but a vision that sees beyond the limitations and deeply understands the soul of a people. It’s about…
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Burkina Faso’s nuclear partners also propose a renewable energy deal
In March Burkina Faso and Russia, through its state-owned energy company, Rosatom, spoke about establishing a nuclear project in the West African country. Very recently, both parties opened dialogue on the prospect of a renewable energy deal. This new proposal came on the heels of the 3 day forum concerning Russia’s partnership with Burkina Faso.…
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DR Congo, Ethiopia, Kenya, Benin, Gambia elected to Human Rights Council
The Democratic Republic of Congo is among 15 countries elected to the Human Rights Council on Wednesday, despite objections by the country’s opposition. Benin, Gambia, Kenya and Ethiopia are the other African countries elected to the Council. The five countries will serve for three years, starting on January 1, 2025. At the assembly, there was…
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BRICS+ countries launches a dialog platform on the diamond industry, the Russian Finance Ministry said
“Within the framework of the Russian BRICS Presidency, the inaugural meeting of the informal dialogue platform on cooperation in the diamond industry was held in Moscow on October 9 in a hybrid format on the sidelines of the meeting of BRICS finance ministers and central bank governors,” the ministry said in a statement after the…
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33 trucks with smuggled cocoa beans found in Ivory Coast
The Ivory Coast Coffee and Cocoa Board has identified 33 trucks carrying around 1,100 tonnes of smuggled cocoa beans across the border with Guinea. Cocoa smuggling in the region has increased following poor harvests in Ghana and Ivory Coast, the world’s second-largest producers. The decline in production has led to a supply shortage in the…
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Ethiopian lawmakers select new president
Ethiopian lawmakers on Monday chose Foreign Minister Taye Atske Selassie as the country’s new president — a largely ceremonial role — leaving Africa with only one female head of state. Atske Selassie replaced Sahle-Work Zewde, 74, a respected former diplomat who had served as president since 2018. That leaves Tanzania as the only African country…
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Zimbabwe government to pay civil servants in US dollars due to devaluation of the ZiG
The government of Zimbabwe, in an attempt to mitigate the impact of the recent devaluation of the ZiG, has announced that salary raises and an annual bonus for civil servants in the country will be paid in US dollars. According to the Minister of Public Service, Labour, and Social Welfare, July Moyo, the move by…
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Zambia’s Copper Wealth: The Exploitation by Multinational Giant Glencore
Zambia, a landlocked country nestled in the heart of Africa, is home to one of the world’s largest copper reserves. Known as “the Copperbelt,” the region has historically attracted international attention for its rich mineral resources, positioning Zambia as a crucial player in the global copper market. However, beneath the surface of this wealth lies…
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The Rise of America’s Black Elite: A New Era of Wealth and Influence
The Rise of America’s Black Elite: A New Era of Wealth and Influence While African Americans have historically been disproportionately affected by poverty in the United States, a significant shift is taking place. Today, America is home to the largest concentration of wealthy and highly successful Black individuals in the world. In fact, 1 in…
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