Africa / News
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Kenya to introduce orthodox tea trading at Mombasa auction
The move marks a significant step in diversifying Kenya's tea export offerings, moving beyond traditional CTC (Cut, Tear, Curl) types towards higher-value orthodox varieties.
Japan denies giving away city to Tanzania amid immigration panic
Japan’s government quickly dispelled claims that it was handing over control of a city to Tanzania, after misinformation surrounding a cultural exchange programme triggered a xenophobic backlash.
Tanzania signs deal to connect Kagera to power grid as it looks to wean region off Ugandan imports
Tanzania, looking to end reliance on electricity imports from Uganda in some regions, has contracted the construction of a 220-kv transmission line from Benako to Kyaka, along with a 220/33-kilovolt substation at Benako.
AIM-listed miner Gemfields unveils 11,685-carat emerald for sale at ongoing auction
Dubbed "Imboo", which means "buffalo" in two languages spoken in northcentral Zambia, it is the latest, and largest, exceptional gemstone discovered at Kagem Mining in Zambia’s Copperbelt Province.
Nigeria’s crude pipeline and terminal receipts near 100% amid tightened security against oil theft
Nigeria’s state oil company chief says crude oil receipts at pipelines and export terminals are now “close to 100%,” a significant recovery from previous levels as low as 30% during a period of widespread theft in the Niger Delta.
Hydropower poised to drive Africa’s clean energy future – IHA report
Hydropower, with 43.5 GW of installed conventional capacity, is becoming increasingly important for Africa’s development, supported by large national projects as well as smaller private-sector initiatives.
Kenya asks China’s approval to convert dollar-denominated $5bn railway loan into yuan
Apart from lobbying Beijing to convert the loan into yuan, Kenya hopes to generate $4bn by securitising a levy on imports to finance a planned extension of the China-built standard gauge railway (SGR).
Tanzania court halts live broadcast of treason trial against opposition leader Tundu Lissu
The detention of Lissu, who survived a politically motivated assassination attempt in 2017, has raised concern among rights monitors over democratic backsliding in Tanzania.
Nigeria leads Africa in stablecoin transactions with nearly $22bn recorded, says Yellow Card
In Sub-Saharan Africa, stablecoins now represent 43% of all cryptocurrency transaction volumes. Yellow Card says Nigeria accounted for the bulk of it, ahead of South Africa, Kenya and Ghana.
Kenya Pipeline Company privatisation via IPO temporarily blocked by High Court in Nairobi
The High Court in Nairobi has temporarily halted the government’s plan to privatise the KPC by selling up to a 65% stake in the pipeline company - without what a consumer group calls "proper" public participation.
Top Kenyan telecom Safaricom cleared to lay subsea internet cables off Mombasa port
With eight new data centres under construction and 100 MW of additional capacity expected by 2030, Safaricom’s cable will strengthen cross-border connectivity on the Indian Ocean rim, and improve redundancy for existing routes.
Ghana think tank demands answers over minister, central bank rift on gold-for-oil scheme
Ghana’s flagship Gold-for-Oil (G4O) scheme, which aimed to cut demand for US dollars to import fuel, was launched in response to a spiralling foreign exchange crisis and surging inflation.
South Sudan rejects claims of Gaza resettlement discussions with Israel
South Sudan denies reported Israel talks on Gaza Palestinian resettlement as international community condemns forced displacement proposals violating international law.
Canada’s Asante Gold secures $172mn in equity to fund Ghana mine expansion
Canada’s Asante Gold Corp. said it has received the net proceeds from its C$237mn ($172mn) equity offering, marking a key step in a $500mn financing plan to expand its mining operations in Ghana.
South Africa's African Bank recovers from 2014 collapse, eyes JSE return in 2027
CEO Kennedy Bungane said African Bank has bounced back, adopting a business model embracing traditional and modern banking channels. "It is that knowledge that propels us towards an IPO."
ASP Isotopes set for Johannesburg listing, will acquire Renergen, advance uranium enrichment plans with NECSA
Nasdaq-listed ASP Isotopes plans to list on the JSE and acquire 100% of South Africa’s only onshore helium and LNG producer while advancing uranium enrichment plans with NECSA.
Kenyan retailers roil against proposed sweeping curbs on online alcohol sales, influencer promotions
If implemented, the measures would disrupt a delivery-based retail model for alcohol sales that grew sharply during COVID-19 restrictions. Critics warn the ban could push sales into unregulated channels and fuel counterfeit production.
Ghana launches gold coin to bolster savings and monetary policy
The Ghana Gold Coin is designed as a hedge against inflation, a store of value during currency swings, and an alternative to volatile equities or bonds.
US imposes travel restrictions on personnel in Zambia’s Copperbelt over toxic spill
The US government has imposed travel restrictions and reassigned personnel in parts of Zambia’s Copperbelt Province following a toxic spill from the Sino Metals Leach Mine.
Russia demands Central African Republic replace Wagner with Africa Corps and pay in cash
Wagner personnel have played a central role in protecting President Faustin-Archange Touadéra's administration in the Central African Republic.