Economy & Trade

UK's Lloyd’s Register apologises for role in enslaving Africans

The UK maritime company admits that it played a key role in facilitating slave trade, which subjected millions of Africans to cruelty.

Live Updates: Israeli settler attack in West Bank injures 21 Palestinians

Truce in Israel's genocidal war on besieged Gaza — that has reportedly left at least 47,035 Palestinians dead — enters its third day.

Libya eyes deeper economic ties with Türkiye, free trade deal in focus

Libya plans to renew agreements with Türkiye, finalise deal to prevent double taxation, deepen bilateral cooperation, says Libyan Economy and Trade Minister.

Why Nigerians can't afford to go cashless

Cash remains the preferred mode for financial transactions in Nigeria despite the country's central bank clamping withdrawal restrictions and seeking to rein in a commission system that feeds on those who can't do withou

Türkiye, Slovakia aim to reach $5B bilateral trade this year — Erdogan

Recep Tayyip Erdogan welcomes Robert Fico with official ceremony at presidential complex.

Live Updates: Israel kills 20 in Gaza, 6 in West Bank after truce announcement

Hamas and Israel agree on ceasefire in Tel Aviv's war on Gaza — now in its 468th day — in which 46,707+ Palestinians have been reportedly killed and 110,265+ wounded. In Lebanon, Israel has killed 4,068+ people since Oct

Mali holding seized Barrick gold at state-owned bank

Mali's military government is holding gold seized from Barrick Gold's Loulo-Gounkoto mine site at state-owned Banque Malienne de Solidarite (BMS).

Nigerian inflation rises for fourth straight month

Nigeria's inflation rate rose for the fourth straight month in December, data from the statistics agency showed on Wednesday.

South Sudan’s ‘lifeline is back’ after oil export resumption

After nearly a year without salaries, South Sudanese civil servants are excited following the country's resumption of oil exports.

Nigeria to include 'illegal' activities in GDP

Nigeria is currently the fourth largest African economy, according to International Monetary Fund figures, after occupying top spot until 2022.

Egypt's inflation slows to 2-year low in December

Egypt’s annual inflation rate has declined to its lowest level in two years, official figures show.

Malawi arrests ex-finance minister over alleged graft

Malawi police have arrested the country's ex-Finance Minister Joseph Mwanamveka and four other former government officials for allegedly embezzling approximately $250 million.

Kenya lifts suspension on national carrier's share trade

Kenya Airways, which has been languishing deep in the red for years, posted a net half-year profit of 513 million shillings ($4 million).

Ghana traders count losses after 'devastating' market fire

The raging inferno swept through the bustling Kantamanto Market in Accra destroying goods worth millions of the local cedi currency.

Morocco's Jan-Nov trade deficit expands by 6.5%

Morocco's annual trade deficit widened by 6.5% to $27.2 billion in the first 11 months of 2024, trade data shows.

Economic confidence in Türkiye hits eight-month high

The Turkish Statistical Institute reported that the economic confidence index rose by 1.8 percent compared to November, reaching 98.8

Live Updates: Israeli strikes deeper into Lebanon; West Bank deaths rise to 8

Israel's genocide in Gaza — now in its 446th day — has killed at least 45,338 Palestinians and wounded 107,764 others. In Lebanon, Israel has killed 4,048 people since October 2023 and keeps breaching the November 27 tru

Halal economy: Sub-Saharan Africa ticks the boxes

The global halal economy is growing exponentially, presenting opportunities for sub-Saharan Africa to tap into its demographic and cultural advantages in the sector and create employment for a teeming young population.

Christmas: African leaders preach hope amidst soaring inflation

Messages from African presidents come as the year 2024 saw a relentless cost of living crisis grip numerous African nations, pushing millions into deeper poverty.

Live Updates: West Bank, Gaza Christians pray for peace amid Israeli attacks

Israel's genocide in Gaza — now in its 446th day — has killed at least 45,338 Palestinians and wounded 107,764 others. In Lebanon, Israel has killed 4,048 people since October 2023 and keeps breaching the November 27 tru

Türkiye eyes $13.5 billion: Stability and investment ahead

Factors like nearshoring and friendshoring, where countries prioritise working with nearby allies, are key to Türkiye’s investment potential.

Erdogan condemns deadly attack at German Christmas market

Turkish president expresses condolences after a car attack in Magdeburg kills five and injures over 200.

Türkiye condemns car attack at German Christmas market

"We extend our condolences to the families and friends of those who lost their lives and wish a speedy recovery to the wounded," Turkish Foreign Ministry said in a statement.

Mozambique to protect trade with SA amid protests

Mozambique says it would boost security along a vital South African trade corridor to prevent further disruptions.