Economy & Trade

Zimbabwe in talks with US to lower 18% export tariff

Zimbabwe says it has entered direct talks with the United States to seek a reduction in the 18% tariff imposed on Zimbabwean exports.

South Africa's finance minister refuses to resign after VAT hike reversal

The proposal to raise the VAT by 1 percentage point over two years, which was intended to boost state revenue, met resistance.

Tanzania bans South Africa, Malawi imports in trade row

Tanzania had demanded that both countries rescind bans on imports of agricultural goods from Tanzania by Wednesday, but they had not done so, a minister said.

Türkiye, US seek to deepen economic, strategic ties in high-level talks

Finance Minister Mehmet Simsek meets US Treasury Secretary Scott Bessent in Washington to boost bilateral trade, investment, and regional cooperation, including in defence and energy.

IMF slashes global growth forecast over trade turmoil

The IMF warned of deepening global economic fragmentation, rising uncertainty, and long-term stagnation unless reforms are made.

Algeria aims for $10B trade volume target with Türkiye — Algerian foreign minister

Algerian, Turkish foreign ministers co-chair third meeting of Türkiye-Algeria Joint Planning Group.

South Sudan to send delegation to US for repatriation of nationals

Delegation to be led by South Sudan’s finance minister, central bank governor, civil registry director

US-China tariff war is not just about trade, it’s a classic power struggle

Donald Trump has upset the world order by slapping whopping taxes on imports. But his primary target is the Asian giant.

Ghana orders foreigners to exit its gold trading market

Under a new system, the newly created gold board known as GoldBod is the only entity allowed to buy, sell, assay and export artisanal gold.

How Nigeria can tide over trade shocks and oil slips

As the US-China trade war unravels alongside a global oil price crash, Nigeria faces critical challenges that demand swift economic adaptation and resilience.

Türkiye a 'reliable actor' in Africa as trade volume hits $36 billion: Deputy foreign minister

Türkiye’s trade volume with Africa has increased tenfold in recent years, growing from $3.6 billion to $36 billion.

Trump's Tariffs and Africa: The Ripple Effects of a Trade War

Trump’s tariffs on China, along with China’s retaliatory measures, have triggered ripple effects that are likely to influence Africa’s trade, investment, and broader economic development.

Ex-Mauritius finance minister released on bail amid fraud charges

The government has accused the previous administration of falsifying data on economic growth.

Erdogan to al Sharaa: Türkiye supports Syria's stability and economic revival

Erdogan says that Türkiye would continue its diplomatic efforts to lift international sanctions imposed on Syria, and that efforts should be intensified to revive commercial and economic cooperation between the two count

Nigeria bans rap song critical of president's record amid tough economy

"Tell Your Papa" by Eedris Abdulkareem sharply criticises the administration of President Bola Tinubu, whose term has seen the worst cost-of-living crisis in a generation.

Trump's tariffs to send 'shock waves' in the continent - Africa bank chief

The tariffs will cause local currencies to weaken on the back of reduced foreign exchange earnings, AfDB President Akinwumi Adesina said

US tariffs: China speaks with South Africa, Saudi Arabia on response

Discussions focused strengthening bilateral economic and trade cooperation with Saudi Arabia and South Africa in the face of stiff US tariffs.

Mauritius ex-central bank boss denies charge on Covid fund fraud

Harvesh Seegolam has been charged following investigations into alleged theft of $6.7m from a fund set up to help companies deal with impact of the COVID pandemic.

Nigeria battles growing money laundering menace

Increased surveillance has revealed the spread and impact of financial crimes like money laundering and printing of counterfeit currency on Nigeria's economy.

WTO warns US-China trade war could hit least-developed countries

The warning comes as President Donald Trump raised the tariff on Chinese imports to 125% on Wednesday, hours after China boosted the duty on American goods to 84%.

Mauritius arrests ex-central bank governor, finance minister

The government of Prime Minister Navin Ramgoolam has accused the previous administration under which the two former officials served of falsifying economic figures.

Turkish president highlights Ankara’s vital role amid global tensions, trade war

‘As we are among countries facing low tariffs, we believe we will overcome this period more easily compared to many other countries,’ Recep Tayyip Erdogan says.

Naira abuse: Nigerian groom jailed for spraying currency notes at own wedding

Nigeria anti-graft agency says the groom was arrested at his wedding reception last December.

African Development Bank to raise $2.2 billion for Nigeria's agriculture

African Development Bank seeks $2.2 billion to support Nigeria's agriculture