Economy & Trade

Cairo to restructure military-linked 'Future of Egypt' economic body

Egypt expands the powers of the military-linked Future of Egypt authority, giving it wider control over state assets, companies and strategic economic sectors.

Senegal's 'Pink Lake' recovers its rosy hue, reviving salt trade

Standing waist-deep in the waters of Senegal’s famed Pink Lake, Seydou Toure uses a shovel to scrape salt from the lakebed that he will later sell to tourists and traders.

UK sanctions RSF gold and finance networks over Sudan war

Britain on Thursday targeted what it said was illicit gold and finance networks fuelling Sudan's war, imposing sanctions on 11 individuals and entities.

Egypt's parliament formalises economic powers of military-linked body

Egypt's parliament gave final approval on Tuesday to a law that formalises the expansion of the military-linked Future of Egypt Authority into the country's most powerful economic body.

Angola slashes key interest rate as inflation keeps slowing

Angola's central bank delivered a 125-basis-point interest rate cut on Tuesday, saying it expected a long-running inflation slowdown to continue.

Ethiopia central bank raises policy rate, cites oil price shock

Ethiopia's central bank raised its main interest rate by one percentage point to 16% on Monday, in its first shift since 2024.

Kenya's economy to grow 4.3% in 2026: World Bank

Kenya's economy is expected to expand 4.3% this year and 4.4% in 2027, the World Bank said on Thursday.

Kenya signs Sovereign Wealth Fund bill into law

President Ruto says the bill saves public resources, finances strategic investments and cushions the economy against future financial shocks.

Türkiye seeks deeper trade, investment ties with NATO allies

Ankara aims to deepen economic cooperation with allied countries through trade, investment, industry, technology, defence industry, and transportation, says Turkish Trade Minister Omer Bolat.

Adeyemi saga: The bizarre story of Nigeria’s ‘fake’ presidential council

President Bola Tinubu said the suspect misled the authorities and “fraudulently” opened an account with the Central Bank of Nigeria using “fake documents”.

Zimbabwe hit by nationwide blackout due to technical fault, power company says

Zimbabwe's national grid collapsed on Monday, plunging the Southern African country into a blackout, the state-owned power utility said.

South Africa loses bid to block export of rhino horns

Wicus Diedericks, the owner of an expansive game reserve in South Africa, sued the government to compel it to authorise the export of more than 500 white rhino horns.

Mali creates state body to regulate artisanal gold trade

Mali has established a new state entity to regulate its artisanal gold trade after identifying large discrepancies between officially declared exports and volumes reported by importing countries.

Ghana inflation rises for third month in June 2026

Ghana's consumer inflation rose for the third month in a row in June, to 5.3% year-on-year from 3.7% in May, the statistics service said on Wednesday.

'Unprecedented escalation': Israeli army blocks all access roads to occupied West Bank town

The town's mayor says the closure isolates Sinjil after troops sealed its final access route, calling the move an 'unprecedented escalation' of Israel’s collective punishment policy.

NATO Parliamentary Assembly President Calls for Greater Defence Investment Ahead of Ankara Summit

NATO Parliamentary Assembly President Marcos Perestrello and NATO Deputy Secretary General Radmila Shekerinska called on Allied nations to significantly increase defence investment and strengthen political unity during t

DRC withdraws unused cobalt export quotas

DRC will withdraw unused cobalt export rights under first-half quotas and re-assign them to a state-controlled entity, its strategic minerals regulator said on Monday.

Botswana's Debswana plans 20% diamond output hike in 2026

Botswana's Debswana Diamond Company expects to raise diamond production by about 20% this year, a central bank official said on Wednesday.

Somalia turns to industrial revival in path to more economic independence

Across Somalia, a quiet transformation is underway as industries and workshops gradually reestablish a production base that was dismantled by decades of conflict.

Nigerians repatriated from South Africa face economic dilemma

Nigerian migrants returning from South Africa face the same economic issues they left behind

Kenya unveils finance arrangers for $1.2bn Nairobi airport expansion

Kenya is keen to maintain its position as a travel hub in the region, even as Ethiopia and Rwanda invest billions in new airport to entice airlines and travellers.

US grants permanent residency to Ghana's ex-finance minister, his lawyer says

The US has granted permanent residency to Ghana's ex-finance minister Ken Ofori-Atta, his lawyer said on Tuesday.

South Africa's Ramaphosa warns against blaming migrants for economic pain

President Cyril Ramaphosa that South Africans, and especially youth, were justifiably frustrated by high unemployment, crime, and poor public services.

Erdogan unveils Türkiye's AI Action Plan, targets $10B in investment

The plan aims to train 10,000 advanced AI specialists and 100,000 AI application professionals, while launching AI literacy workshops across all 81 provinces.