Finance & Economics>Page 3
IMF approves first deal for Mozambique since 2016 scandal
The southern African nation of Mozambique is set to receive US$470 million over the next three years, as part of a financing package agreed to by the International Monetary Fund (IMF) this week. The new IMF deal, under its Extended Credit Facility program, marks the first time the IMF has…
U.S. imposes sanctions on six linked to Boko Haram
The United States has imposed new sanctions on six people linked to Boko Haram who were working to establish a cell of the Nigerian extremist group in the United Arab Emirates (UAE). The six – Abdurrahman Ado Musa, Salihu Yusuf Adamu, Bashir Ali Yusuf, Muhammed Ibrahim Isa, Ibrahim Ali Alhassan,…
Ethiopia declares Tigray truce for humanitarian aid access
Ethiopia declared a truce in the Tigray region fighting on Thursday, citing the need for humanitarian aid that the government has long been accused of preventing or withholding. "Thousands from the Tigray region are trekking into neighboring regions in search of assistance," said the Ethiopian statement. "The government believes that…
Google's undersea cable makes landing in Togo
Google's Equiano undersea cable project is about to make its landing in Togo, bringing some 37,000 new jobs with it by 2025, according to a statement released by the West African nation on Friday. "As its first landing in Africa, the subsea cable will have a direct impact on internet…
UN warns global 'breadbasket is being bombed' in Ukraine
The United Nations warns that amid other concerns about the ongoing conflict in Ukraine, the impact on wheat and food supply reaches far beyond its borders and has the potential to make matters worse in countries like Somalia that are already challenged by a hunger crisis. "For months now, developing…
U.S. adds new sanctions to Pevgeniy Prigozhin over Ukraine invasion
The United States has broadened its efforts to place sanctions against Russian elites in connection with the armed conflict in Ukraine, this time adding a group of individuals that includes Pevgeniy Prigozhin, a close associate of Russian President Vladimir Putin. Prigozhin was previously targeted by the U.S. Department of Treasury for…
DNA from seized tusks used to connect the dots on wildlife crime
DNA taken from elephant tusks, and then matched with DNA from other tusk shipments seized in the fight against Africa's illegal ivory trade, shows patterns that can help to identify those active in wildlife crime. That's based on results from a team of international scientists who published their work in…
WHO says Africa is on track in the fight against COVID-19
Exactly two years after the first COVID-19 was confirmed on the African continent, the outlook for 2022 remains positive in terms of getting the pandemic under control, according to the World Health Organization. "The African continent has gotten smarter, faster and better at responding to each new surge in cases…
Google CEO speaks at UNECA forum on transport, tourism
Google CEO Sundar Pichai highlighted African innovation during a brief address Monday to the Business Forum of the United Nations Economic Commission for Africa (UNECA) held in Addis Ababa. The business forum was held on the margins of the annual African Union Summit. It focused on transportation as part of…
AfDB, AU heads hold 'surprise' talks in Dakar airport lounge
Akinwumi Adesina, head of the African Development Bank (AfDB), says he was in the VIP lounge of Dakar's Blaise-Diagne International Airport with Senegal's economic minister this week when another African dignitary walked in. The surprise guest was Moussa Faki Mahamat, head of the African Union Commission. What followed, the AfDB…
African nations show 'worrying trends' in new corruption report
It was not a good year for improvements on corruption anywhere in the world, according to the 2021 annual report released by Transparency International on Tuesday. Overall, the Corruption Perceptions Index report shows that 86% of the world's nations are either losing control in the fight against corruption or remain…
3 African nations lose UN vote over member dues
Three African nations have had their voting rights suspended by the United Nations because of their failure to pay the required financial contributions for member states. Sudan and Congo-Brazzaville, along with the Indian Ocean island nation of Comoros, are among 10 nations that have failed to pay their dues in…
Côte d'Ivoire transport sector gets a boost with new bus production
In Côte d'Ivoire, authorities announced another step forward in boosting the economy through its transport sector. Beginning Monday, the company's SOTRA bus services — working in partnership with Italian manufacturer IVECO —will start production of new minibuses. The government's agreements with the private sector firms call for 1,000 of the…
China announces foreign minister's New Year visits to Africa
In keeping with its annual tradition, China's foreign minister will make his first visits to the African continent at the start of the new year. Foreign Minister Wang Yi will begin his journey in Eritrea on January 4. He'll continue on to Kenya and then the Indian Ocean island nation…
AfDB, Janngo announce €10.5 million in startup investment funds
The African Development Bank (AfDB) has announced the approval of €10.5 million in investment funds to support African tech entrepreneurs through the Janngo Start-Up Fund. The funds include €7 million from the AfDB and a €3.5 million contribution from the European Union and the Organization of African, Caribbean and Pacific…