Economy & Trade

African Development Bank partners Arab institutions amid Western funding decline

African Development Bank aims to fill funding gap as Western donors reduce aid.

Somalia and Tanzania agree on visa-free travel to boost business and tourism

Officials say the new visa arrangements, along with planned direct flights between the two countries, will facilitate business, tourism, and academic exchanges.

First time since 1967: Israeli government approves registering West Bank lands as 'state property'

Proposal submitted by far-right Finance Minister Bezalel Smotrich, Justice Minister Yariv Levin, and Defense Minister Israel Katz.

Africa led global solar market expansion in 2025: report

Africa leads growth in solar energy as demand spreads beyond traditional markets, report says

Türkiye’s company TPAO wins oil blocks in Libya

Turkish Petroleum Corporation (TPAO) has won two oil blocks — one offshore and one onshore in Libya.

Türkiye, Greece aim to raise trade to $10B, maintain dialogue on disputes

President Recep Tayyip Erdogan hosts Greek Prime Minister Kyriakos Mitsotakis in Ankara for talks on maritime disputes, minority rights and regional developments, including Gaza and Syria.

West’s double-speak allows Israel to entrench West Bank occupation

Each Israeli expansion in the occupied territory erodes territorial contiguity and the institutional capacity required for meaningful Palestinian self-government.

Egypt approves cabinet reshuffle with 13 new ministers

The reshuffle appeared to prioritise economic portfolios, with World Bank senior economist Ahmed Rostom appointed Minister of Planning and Financial Regulatory Authority chair Mohamed Farid Saleh named Minister of Invest

South Sudan activist jailed in US for attempting to export arms for coup

Peter Biar Ajak, a Harvard-educated economist, was accused of trying to export US weaponry to South Sudan, where he planned to lead a coup and install himself in power.

South Africa edges closer to getting duty-free access to Chinese market

President Cyril Ramaphosa says the priority should be deepening intra-Africa trade.

Türkiye, Saudi Arabia eye joint investment in KAAN fighter jets, deepening defence cooperation

Ankara and Riyadh sign 'major' defence industry cooperation deals as the Turkish President Erdogan expresses Türkiye's determination to expand them.

Türkiye–Egypt Business Forum: Erdogan vows cooperation to counter protectionism, boost prosperity

Turkish president says growing cooperation between Türkiye and Egypt contributes to regional stability.

Nigeria state oil firm in talks with Chinese company to revive refinery

Africa’s largest crude oil is seeking to revive its refineries after years of losses and underperformance.

Ghana's economic recovery picks up pace, inflation at five-year low

Ghana, a major producer of gold and cocoa, is emerging from one of its worst economic crises in decades.

Kenya warns against cash flower bouquets ahead of Valentines

The Central Bank of Kenya says it does not object to the use of cash as a gift, but such use should not involve any action that alters, damages, or defaces banknotes.

African governments turn to Islamic finance after Benin sukuk success

Sukuk issuance so far in 2026 has exceeded $580 million, largely through Benin's $500 million debut, according to experts.

Trade between Türkiye and Nigeria expected to reach $10B after flurry of new deals

Business leaders say President Tinubu’s visit to Türkiye unlocks sweeping opportunities across defence, education and manufacturing.

Flood effects could result in reversal of inflation drop in Mozambique: analysts

Mozambique's central bank trimmed its main interest rate by 25 basis points to 9.25% in a decision announced on Wednesday, but flood effects could reverse the drop in inflation pattern.

Türkiye, Nigeria launch drive to expand trade, investment and defence ties

Presidents Erdogan and Tinubu oversee the signing of nine agreements as Ankara targets a $5 billion trade goal with one of Africa’s largest economies.

Bosnia FM hails Türkiye as global superpower, cites stronger investment ties

Türkiye has come to the forefront on the international stage following developments in Syria, and has become one of the US' most important partners, Elmedin Konakovic says.

World Bank, Qatar to support electricity supply for 300 million people in Africa

The cooperation deal between the World Bank and Qatar also includes job creation and supporting countries hit by armed conflicts.

Turkish, Nigerian foreign ministers to discuss trade, defence

Turkish Foreign Minister Hakan Fidan will meet with his Nigerian counterpart Yusuf Tuggar, who will pay a visit to Türkiye on Monday, Turkish diplomatic sources said.

Botswana warns diamond oversupply harms economy

The downturn has been compounded by softer buying in the United States and China.

US company secures $150m funding for Zimbabwe gold mine

Caledonia is also arranging a $150 million funding facility with a consortium of Zimbabwean and South African banks.