THE International Finance Corporation (IFC) plans to ramp up its new investments in Africa to $10bn annually in support of businesses that it sees helping to drive economic recovery and growth on the continent. The member of the World Bank Group plans to add…
AFRICAN leaders set to meet next week to discuss boosting the African transport sector as a key impetus to spur continental free trade pact, the United Nations Economic Commission for Africa (UNECA) announced Friday. The UNECA announced that it will…
VILLAGERS in Zimbabwe say a Chinese mining company has told them they will have to leave their homes to make way for a granite quarry. The company denies plans to forcibly move the villagers, but a lack of transparency has…
AFRAILWAYS is developing Afrail Express as a high-speed passenger rail system to connect the entire African continent, from South Africa to Morocco, and Nigeria to Egypt. Afrail Express is seeking to appoint a main contractor for the construction of the…
LESS than three weeks ago, Nassef Sawiris made $260 million following a surge in the market value of his stake in Adidas. Egyptian tycoon Nassef Sawiris set records early this year for one of the fastest streaks of wealth accumulation…
GLOBAL energy giants were quick to halt their Mozambican gas projects when jihadist violence erupted on their doorsteps. After months of calm, reviving those multi-billion-dollar projects is a much slower job. TotalEnergies CEO Patrick Pouyanne visited Maputo on Monday, saying…
THE latest inflation forecast for Ghana indicates that the rate would remain above the target band in the near-term, driven by external and domestic factors, and would only return to target about four-quarters ahead, said the central bank Monday. In…
OIL prices continued to surge on Monday as Brent crude, global oil benchmark, hit $91.31 per barrel, ahead of an OPEC+ meeting on Wednesday. In a market survey on Monday morning, Brent crude rose $1.28, or 1.4%, to $91.31 a…
A Swedish-Kenyan company, Opibus, has introduced the first African-designed and manufactured electric bus in Kenya with the aim of bringing clean energy to public transportation. A report by VOA says Opibus, Kenya’s first company to make electric motorcycles, plans to launch the…
BRENT oil on Wednesday surpassed $90 per barrel to strike the highest level for more than seven years, rattled by geopolitical tensions in Ukraine and supply concerns in the Middle East. European benchmark Brent North Sea crude rallied as high…
