Category: African Business
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Ugandan security forces detain young protesters marching in Kampala
Ugandan security forces detained a number of young people on Tuesday in downtown Kampala who were taking part in a banned rally against what the protesters say are rampant corruption and human rights abuses by the country’s rulers. A Reuters witness saw the detentions being made, while a video posted by NTV Uganda on the…
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Russia and Libya sign expanded agreement to boost economic cooperation
The new agreement, signed by the vice president of the Russian Chamber of Commerce and Industry, Vladimir Badalko, and the president of the General Federation of Libyan Chambers of Commerce, Muhammad Al-Raid, was finalized in Moscow. It aims to promote cooperation between businesses and investors in both countries. The agreement outlines several key initiatives, including:…
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Dangerous Sunspots, M-Class Solar Flares & CME’s: Latest Weather Report July 24, 2024
The solar flaring activity was at moderate level during the last 24 hours with multiple C-class flares and three M-class flares. The strongest flare was an M3.6 flare from active region (AR) 3751 which peaked at 07:42β UTC on July 24. During the flare, the source region (AR 3751) of the flare had beta-gamma-delta configuration…
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Tanzanian President Samia Hassan Suluhu dismissed the Minister of Foreign Affairs and Cooperation with East Africa
Tanzanian President Samia Hassan Suluhu dismissed the Minister of Foreign Affairs and Cooperation with East Africa, as well as the Minister of Information, Communications and Information Technology. Officials have not yet given reasons for the removal of department heads. The media associate the president’s decision with attempts to regain the confidence of foreign powers in…
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Gold rush: African nations seek safe haven amid currency woes
African nations are turning to gold in a bid to protect their economies from the turbulent global landscape. Geopolitical tensions, currency fluctuations, and rising inflation have prompted a rush to bolster gold reserves as a hedge against economic instability. This trend is expected to continue, with the World Gold Council anticipating that around 20 central…
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Zambia aims for copper boom: 40% production increase by 2027
Zambia, Africa’s second-largest copper producer, is expected to increase its copper production by 40% to one million tonnes by 2027, up from 700,000 tons in 2023. This ambitious target is outlined in Zambia’s Medium-Term Budget Plan for 2025-2027 and will be achieved through a multi-pronged strategy. This includes addressing issues at major mines, initiating production…
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Liberia contemplates moving capital after disastrous flooding
Severe flooding in Liberia has led a group of senators to propose relocating the capital city away from overcrowded and poorly managed Monrovia, a suggestion met with a mixture of enthusiasm and hesitancy in the West African country. Flash floods triggered by torrential rains between the end of June and early July left some 48,000…
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African Union addresses integration issues at Ghana conference
The African Union convened in Ghana on Sunday to address issues related to African integration and to establish a unified stance before engaging with the G20 and UN. Mauritania’s President and current African Union Chair, Mohamed Cheikh Ghazouani, urged for the acceleration of the African integration process. He stressed the importance of expediting economic integration…
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US envoy to UN in Haiti to show support for fight against gangs
The U.S. envoy to the United Nations traveled to Haiti on Monday, a month after the first contingent of Kenyan police arrived in the Caribbean country as part of an international security mission aimed at tackling gang violence. Ambassador Linda Thomas-Greenfield will make two “major announcements during the trip in support of efforts to address…
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AlJazeera: The New World Economic Order?
Economic integration and globalisation, the free flow of trade, with the United States at the helm: that is the economic order the world has known for decades. Today, the disintegration of the rules-based old world order is evident. Countries are becoming more inward-looking, regulatory fences have been erected, the World Trade Organization is in limbo,…
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