Economy & Trade

EU, African leaders push closer trade links, step up efforts on illegal migration

A Europe-Africa summit in Luanda pledges deeper trade ties, critical minerals partnerships and new migration measures.

Uganda's state oil company identifies 'significant' new crude deposits

State-owned Uganda National Oil Company (UNOC) has identified nine potential oil wells in the Kasuruban block with "significant new crude oil deposits", it said on Tuesday.

South Africa's financial resilience persists on market rebound: central bank

South Africa's financial system remains resilient despite global geopolitical tensions and rising debt risks, the central bank said on Tuesday.

Africa, EU leaders to talk trade, minerals in summit aimed at improving partnerships

The African Union-European Union Summit is the 7th of its kind and comes on the heels of a G20 meeting in South Africa where a US boycott underscored geopolitical fractures.

Putin to meet Togo's President Gnassingbé in the Kremlin to boost ties

The talks will focus on diplomacy, economy, trade, agriculture, energy, training, and food security, the Togolese government said.

Zambian government welcomes ratings upgrade that sees country exit default status

Zambia's finance minister has welcomed a milestone upgrade from S&P Global ratings agency that removed the copper-rich country's default status in the latest sign of economic recovery.

Strong cooperation, sustainable supply chains needed to revive global trade: Erdogan

Ankara supports adoption of approach based on fair treatment in debt restructuring processes, notably for low-income countries, Turkish President Erdogan says at G20.

Rival Libya parliaments agree to 'unified' development programme, central bank says

Representatives from Libya's two legislative chambers signed a deal for a "unified development programme" on Tuesday, the central bank said.

Gabon signs landmark climate finance deal for Congo rainforests

Gabon's government and a coalition of donors have signed an agreement aimed at protecting 34,000 square-kilometres of the country's Congo Basin rainforests.

Mali dismisses fears of terrorist takeover of capital after fuel import blockade

Foreign Minister Diop said the African Union's call for an international response reflected a poor understanding of conditions on the ground.

Tanzanian President Samia appoints ex-finance minister Nchemba as new PM

Mwigulu Nchemba previously served as the finance minister.

Rwanda, DRC initiate economic integration framework amid peace talks

The regional economic integration framework (REIF) "outlines key areas for fostering economic cooperation and development between the two nations, demonstrating the tangible benefits of peace," the two countries said in

PM Ousmane Sonko asks Senegalese to accept sacrifices to revive economy

Senegal's Prime Minister Ousmane Sonko asked his country on Saturday to accept "sacrifices" to ensure an economic recovery within "two to three years."

Sudan conflict affecting South Sudan's economy, worsening insecurity: UN

A senior UN official says that the conflict in Sudan is destabilising South Sudan and worsening the economic and humanitarian situation along a shared border.

South Sudan President Kiir sacks 8th finance minister after two months

No reason was given for the eighth change of finance minister since 2020.

Tunisian bank workers go on strike

Tunisian bank workers began a two-day strike on Monday to demand pay rises, halting all financial transactions.

Türkiye pushes global prosperity through green transformation: Yilmaz

"As Türkiye, we are advocating for a vision of an open and resilient economy, strengthened by strategic diversification," Turkish Vice President Cevdet Yilmaz says at the 9th Future Investment Initiative Forum in Riyadh.

Nigeria's Dangote refinery ramps up output on back of new fuel import duty

Nigeria's Dangote Petroleum Refinery, Africa's largest oil refinery, is ramping up output to meet national petrol and diesel demand, the company says, after the government approved a new import tariff on fuel aimed at pr

SA's Ramaphosa 'concerned' by Israeli attacks on Gaza, West Bank in breach of ceasefire

South Africa is concerned that the Gaza ceasefire is being “undermined” by continued Israeli assaults on the enclave and the occupied West Bank, the African nation's president said on Monday.

Trump threatens to withdraw US support if Israel moves to annex West Bank

Israeli lawmakers advance two bills paving the way for the West Bank annexation while US Vice President JD Vance wraps up his three-day visit.

South Africa, Nigeria among African countries off financial crime watch list

South Africa, Nigeria, Mozambique and Burkina Faso removed from the 'grey list', making its easier for capital to enter the countries and ease transaction delays.

German woman detained in DR Congo after an attempted bank robbery - embassy

The attempted robbery of a Kinshasa bank culminated in police surrounding the building and eventually apprehending the robbers.

Trade with Africa not a game of Minecraft - Nigerian minister

The engagement should be based on mutual respect, based on shared interests and based on the fact that Africa needs to develop, said Foreign Minister Yusuf Tuggar.

Mauritania seeks to deepen trade ties with Türkiye

Over 4,000 business leaders, investors, policymakers, and entrepreneurs from across Africa attended TABEF 2025.