Economy & Trade

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.

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.

Children among dead in drone strike on Sudan market

UN agency says children continue to bear the brunt of escalating conflict across Sudan

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.