Africa / News
Iraq flags influencers as high-risk amid money-laundering concerns
Iraq’s central bank has instructed banks and financial institutions to classify social-media influencers and online celebrities as high-risk clients.
Sorry, South Africa! Tesla poised to launch its first African operation in Morocco
Tesla is positioning Morocco as its first African base, supported by a new senior hire and its incorporation in Casablanca. Strong EV incentives, rising output, and logistics advantages have put Morocco ahead of CEO Elon Musk’s birthplace.
Argentina stands alone in G20 after rejecting summit declaration
Argentina has become the sole G20 member state to reject the Leaders Declaration from the recent summit hosted by South Africa, marking a dramatic diplomatic break under President Javier Milei's administration.
Iranian foreign minister says Cairo nuclear agreement terminated after IAEA censure
Iranian FM Abbas Araghchi announces termination of Cairo Agreement on nuclear inspections, blaming US and E3 for killing deal through provocations following Israeli attack on Iranian nuclear facilities in June.
Sudan’s RSF accepts humanitarian truce proposal, as UN council calls emergency session on El Fasher
Alarmed evidence of mass killings, rapes and other atrocities during the fall of El Fasher to the RSF – and looming famine in Darfur – the UN Human Rights Council will hold an emergency session on November 14.
Nigeria's Ondo State announces $50bn investment framework for proposed 500,000bpd refinery, free trade zone
Ondo State signed a $50bn investment agreement with a consortium of international firms, including China Harbour Engineering Company and Honeywell OUP, to build a 500,000-bpd refinery and develop a 1,471-hectare free trade zone.
Guinea’s Doumbouya enters presidential race with major opposition parties excluded
Guinea’s junta leader Mamadi Doumbouya has entered the December 28 presidential race under a new constitution that allows members of the transition government to stand and extends presidential terms.
Nigeria's Heirs Energies' CFO on powering growth via sustainable, indigenous-led development
NewsBase speaks exclusively to Samuel O. Nwanze, Executive Director and Chief Financial Officer of Nigerian indigenous integrated oil and gas company Heirs Energies.
Nigeria's NNPCL weighs technical equity partnerships to revive idle state-owned refineries
NNPCL is reviewing options to bring the Port Harcourt, Warri and Kaduna refineries back into meaningful operation, possibly by bringing in technical equity partners to upgrade or repurpose units.
Tanzania election protests trigger curfew; military deployed, internet cut
Demonstrators clashed with security forces in Dar es Salaam, setting a bus and a gas station ablaze, prompting authorities to impose a curfew from 6 p.m. The military was deployed in Dodoma, Zanzibar, and the commercial capital.
Nigeria’s NUPRC holds exploratory talks with Bank of America on upstream financing
Nigeria's upstream regulator, NUPRC, has held exploratory talks with Bank of America as the country looks to attract new capital and revive crude output, after falling short of its OPEC+ quota.
West Africa’s BRVM market cap hits record $21.2bn driven by telecoms, banks
West Africa’s regional bourse hit a record market capitalisation, up 29% YTD, supported by strong performance among telecom and banking stocks, and rising participation from domestic institutional investors.
Ghana’s dormant TOR refinery to restart crude operations by October-end
Ghana has long struggled to translate its crude output into refined fuel security. Successive governments have pledged to revive TOR, which has faced years of debt, mismanagement, and technical breakdowns.
US ambassador thanks Turkey for role in "coordinated squeeze" that forced Hamas to surrender
Ankara, Cairo and Doha took part in tactics that made Palestinian group accept deal it did not want.
US, Egypt, Qatar, and Turkey sign agreement to end Gaza war at Sharm El-Sheikh Summit
The US, Egypt, Qatar and Turkey signed a binding peace document on October 13, guaranteeing a ceasefire in the Gaza Strip, marking what President Trump called “perhaps the greatest achievement” of his presidency.
Kenya converts $3.5bn China Exim railway loans into yuan, saving $215mn annually
Kenya’s Treasury said the switch aims to hedge against US dollar volatility and align repayment flows with Chinese import and project spending, which are largely yuan-denominated. The currency swap immediately reduces near-term debt-service costs.
Fighting in Mozambique’s gas-rich Cabo Delgado region forces 22,000 to flee amid health collapse, UN warns
The region, home to multibillion-dollar liquefied natural gas (LNG) projects, has repeatedly been targeted by militants believed to be linked with the Islamic State.
Nigeria’s president approves $2.6bn bond to clear GenCos’ debts
President Bola Tinubu has approved a NGN4 trillion ($2.6bn) bond to settle long-standing debts owed to power producers and gas suppliers, aiming to inject liquidity into Nigeria’s electricity sector.