A continental rating agency, deeper domestic markets and new payment rails are widening Africa's financing options — but the test is whether they can reduce a measurable cost-of-capital penalty
The ECOWAS Bank for Investment and Development (EBID) plans to double its balance sheet to about $4.4bn to support larger infrastructure financing.
The African Development Bank Group has become the first IDI to join the shareholder base of ECOWAS' EBID, committing a $30mn equity investment and a $70mn credit line.
The World Bank warns that higher energy costs and weaker external demand stemming from the Middle East conflict are outweighing the benefits of structural reforms, stronger commodities prices
The UAE invested $110bn into Africa over four years with initiatives spanning ports and logistics, renewable energy, digital infrastructure and financial services, to become among the continent’s most consequential economic partners.
US State Department pauses immigrant visa processing for 75 countries from January 21 over public benefits concerns, with indefinite suspension pending reassessment of screening procedures.
Imports of solar panels from China into Africa have surged dramatically over the past year, pointing to the start of a transformation in how the continent generates electricity.
The $25bn Nigeria-Morocco Gas Pipeline (NMGP) project is nearing the start of its construction phase. The 6,000-kilometre infrastructure initiative has gained momentum following high-level meetings in Rabat in July.
Sierra Leone would be among the first countries in Africa to implement 5G technology at scale using renewable energy sources. Broadband penetration in the country is now at just 20.7%.
Once defined by war and blood diamonds, Sierra Leone is now looking to turn its rich but underdeveloped mineral base – iron ore, gold, rutile and bauxite – into a driver of economic recovery and long-term investments.
Population growth means that for the first time in a decade access to global energy has begun to fall despite the massive investment going into clean energy to fight the climate crisis, the International Energy Agency said in a new report.
Saudi Arabia is hosting its first ever Africa Summit, underscoring Crown Prince Mohammed bin Salman's (MbS) growing focus on African affairs.
Russia and Africa can work together to protect national sovereignty and put an end to colonialism, Russian President Vladimir Putin told African delegates at the 2023 Africa-Russia summit in St. Petersburg.
The first investments are due to begin in six counties in sub-Saharan Africa in 2025.
World trade has been falling, but we still expect growth to return this year. We do notice large shifts in world trade as advanced economies – especially the US – are diversifying input sourcing.
Amid a downgrade to the IMF’s global growth forecast, EM sovereigns should remain resilient with areas of relative growth outperformance, easing pressure on commodity importers and fiscal reform momentum.
Food and energy prices surged to near historic highs in recent years amid the pandemic and the war in Ukraine, which prompted major supply disruptions. This was accompanied by a sharp rise in the volatility of commodity prices as well.
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Putin took time out from meetings with Chinese President Xi Jinping who had just arrived in Moscow for a three-day state visit to speak to lawmakers from more than 40 African countries and woo them with generous promises of economic and military aid
Of the 6.3bn people who reside outside of liberal democracies, 70% have a positive view of China and 66% of Russia.
The free flow of ideas, people, goods, services, and capital across national borders leads to greater economic integration. But globalization, the trend toward these things moving ever more freely between nations, has slowed in recent years.