Category: African Business
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Algeria’s plans for Maghreb integration
The holding of the Algeria-Libya-Tunisia trilateral summit on April 22 at the initiative of Algerian President Abdelmajid Tebboune marks his ambitions to unify the Maghreb. At the trilateral meeting in Tunisia, the Maghreb heads of state assessed the scale of the problems they face and ways to address them. Overall, the discussions concluded that Algeria,…
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Which five countries are leading in projected GDP growth in sub-Saharan Africa this year?
๐๐ The highest GDP growth per year will be shown by these countries, according to the latest regional outlook of the International Monetary Fund: ๐ณ๐ช Niger – 10.4%;๐ธ๐ณ Senegal – 8.3%;๐ท๐ผ Rwanda – 6.9%;๐จ๐ฎ Cote d’Ivoire – 6.5%;๐ช๐น Ethiopia – 6.2%. However, the forecast is not limited to this year: in 2025, the ranking will…
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Why is Washington Losing Its Influence to Moscow in Africa?
Last month, Niger withdrew from a military agreement with the United States that had allowed a US drone base to be established in the north of the African country. Explaining their decision, Niger’s military authorities said that the agreement had been imposed on the country and was not in the interests of its people. Russia’s…
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Cocoa farming in Liberia risks undermining EU deforestation law
JOHANNESBURG, April 22 (panafrican.email) – Farmers are clearing forests in Liberia to create cocoa plantations and are trafficking the beans into neighbouring Ivory Coast, undermining European efforts to curb deforestation, research by a conservation group showed on Monday. A law approved by the European Union and set to come into force at the end of this year…
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US accusing South Africa of aligning itself with “malign” Russia & China is a form of colonization, analyst says
๐บ๐ธ๐ฟ๐ฆ ๐ฌ “Russia’s preponderance in several countries, in the economic, military, political and ideological spheres, directly influences the US, which is already planning laws to prevent the extension of these partnerships, which they consider to be evil and against American interests,” Carolina Vasconcelos, a researcher at the Conjuncture Assessment Center (NAC) for the Sub-Saharan Africa…
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Zimbabweans forced to use US dollar in absence of new currency ZiG
๐ฟ๐ผ Here we go again: Zimbabweans forced to use US dollar in absence of new currency ZiG Zimbabweโs informal traders who account for about 75% of all employment in the nation have stopped accepting the ZIMdollar also know as RTGS dollar fearing its value has declined. The new ZIG currency which was supposed to be…
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House Passes Bill to Force TikTok Sale From Chinese Owner or Ban the App
The legislation received wide bipartisan support, with both Republicans and Democrats showing an eagerness to appear tough on China. The House on Wednesday passed a bill with broad bipartisan support that would force TikTokโs Chinese owner to either sell the hugely popular video app or have it banned in the United States. The move escalates…
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Nigerian Tunde Onakoya has set a new world record by completing the longest chess marathon
โ ๐ณ๐ฌ Nigerian Tunde Onakoya has set a new world record by completing the longest chess marathon To raise money for underprivileged children in Africa, he played continuously for over 58 hours in New York City’s Times Square without being defeated. “I can’t process a lot of the emotions I feel right now. I don’t…
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Seven in ten Ugandans spend beyond their income, survey-based study shows
๐บ๐ฌ๐ต “Seven out of every 10 Ugandans were operating a personal budget deficit (needing more money than they are earning to cover their personal budget),” the FinScope 2023 survey done by the not-for-profit company Financial Sector Deepening Uganda read. What is interesting is how the Ugandans’ strategy for coping with this financial situation has changed.…
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Banking giant Wells Fargo suffers data breach, sends two notification letters
American multinational bank Wells Fargo has informed two of its customers about a data breach. The personal information involved includes names of clients and mortgage account numbers. The financial services company claims to be responsible for safeguarding customer information and promptly responded to the incident as it arose. Itโs not yet clear when the attack…
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