Economy & Trade

Türkiye eyes major AI investment drive to become global hub: tech minister

New action plan aims to expand AI infrastructure, attract private investment and strengthen Türkiye’s technology and startup ecosystem.

Ghana's economy expands 6% in second quarter

The expansion follows provisional growth of 6.4% in the first quarter.

Iran warns US 'economic warfare' could trigger Gulf maritime exclusion zone

Senior security official says Tehran is recalibrating its posture towards US warships and bases amid continuing regional tensions.

Nigeria's Dangote targets to raise $1.6 billion in stock market debut

Dangote Petroleum Refinery is aiming to raise funds to double its capacity to 1.4 million barrels a day, which would make it the world's largest refinery.

IMF agrees $2.2 billion Senegal bailout package

The new 36-month arrangement is meant to support Senegal's "economic and financial reform program for the 2026–2029 period", the IMF said.

Türkiye’s trade with Turkic states rises 6.6% to $10.1B in first seven months of 2026

Trade with OTS members rose 6.6 percent year-on-year in the first seven months of 2026, while Kazakhstan remained Türkiye’s biggest trading partner within the group.

Kenya police disperse traders protesting import duty hike with tear gas

Traders say the change would ​raise the cost of clearing goods and hurt small ​businesses.

Türkiye, Syria discuss $10B trade target in Damascus

Turkish trade minister Omer Bolat visits Damascus to discuss trade relations and investment opportunities with Syrian officials.

US faces backlash after describing Ethiopia as 'Africa's second-largest economy'

Social media users say the error suggests that US officials lack adequate knowledge about the continent.

Erdogan, Lula seek closer economic ties in phone call

Deeper cooperation in investment, trade, and defence industry would benefit both countries, says Turkish President Recep Tayyip Erdogan.

Iran defiant as US threatens 'economic D-Day'

Tehran continues to blockade the strait, which it did not restrict before the war, driving up global inflation and heaping domestic pressure on US President Donald Trump ahead of mid-term elections in November.

Trump criticises Canada over tariffs amid ongoing trade dispute

The US president accuses Ottawa of imposing high tariffs on American agricultural products as the two countries remain locked in a trade dispute.

Turkish exports to Africa exceed $13 billion amid infrastructure, diplomatic efforts

Türkiye-Africa Business Council says export performance shows proof of solid multidimensional economic ties between Türkiye and Africa.

Trump announces 'most crushing economic operation ever' against Iran

US president says Iran has 'failed' to seize the opportunity for a deal, vowing 'economic warfare and isolation on an unprecedented scale', and warning countries trading with Tehran of 'tremendous economic consequences'.

President Erdogan, Japan PM discuss bilateral ties, regional issues in phone call

Recep Tayyip Erdogan says Türkiye will seek to expand cooperation with Japan, particularly in defence, investment and trade.

Nigeria's President Tinubu courts diaspora capital for economic boost

President Bola Tinubu called on Nigeria’s diaspora to organise beyond personality-driven transactions into professionally governed investment clubs

Türkiye's Fidan praises Egypt ties, calls for deeper cooperation for regional stability

Hakan Fidan says new agreements on trade, economic cooperation and connectivity will strengthen a strategic partnership between Ankara and Cairo.

Tanzania relaxes foreign exchange rules to all foreigners to buy government debt

The central bank said that the move was aimed at deepening domestic financial markets and promoting Tanzania as an investment destination.

African free trade agency taps Nigerian firm for $3.1 billion customs overhaul project

The African Continental Free Trade Area Secretariat has signed a 20-year, $3.1 billion concession agreement with Nigeria's Bergmans Security Consultants and Supplies Ltd to roll out a continent-wide customs system.

Dangote considering listing refinery in South Africa after Nigeria

The Johannesburg Stock Exchange (JSE) has engaged with Nigeria's Dangote Group and said the company could list its petroleum refinery in South Africa after a Nigerian IPO.

Nigeria aims to move to market-based gas pricing within two years

Nigeria aims to replace regulated domestic natural gas pricing with a market-driven system within the next one to two years as infrastructure improves and competition deepens.

Nigeria says subsidy savings absorbed by debt costs, higher spending

Nigeria's finance minister said on Thursday that savings from the removal of fuel subsidies and foreign-exchange market reforms had largely been absorbed by higher debt-servicing costs.

Somalia signs law to join Africa's Free Trade Area

Somalia President Hassan Sheikh Mohamud has signed the African Continental Free Trade Area (AfCFTA) Agreement into law after its ratification by the federal parliament, paving the way for Somalia to join Africa's single

South Sudan's president sacks central bank governor

Johnny Ohisa has been replaced with Addis Ababa Othow, who held the same position between June and November last year.