MTN Group’s South African unit and U.S.-based low-Earth orbit (LEO) satellite provider Lynk Global announced that they have successfully made Africa’s first phone call via satellite. MTN Group’s South African unit and Lynk Global successfully made Africa’s first phone call via satellite. The breakthrough could help extend mobile coverage to underserved and rural areas. Satellite…
At least six people lost their lives when the “Sindbad” viewing submarine, carrying tourists, sank off the coast of Hurghada, a resort on Egypt’s Red Sea. The “Sindbad” viewing submarine sank off the coast of Hurghada, Egypt, resulting in at least six fatalities. The submarine had 50 people onboard, including tourists from Russia, India, Norway,…
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced it is in the final stages of securing a listing on the capital market. NNPC Ltd is in the final stages of securing a listing on the capital market. NNPC Ltd is engaging with potential partners through the ‘NNPC Ltd. IPO Beauty Parade’ initiative. The…
Zambia’s economy outperformed expectations last year, surpassing growth forecasts from both the government and the International Monetary Fund (IMF), driven by a sharp rise in fourth-quarter output. Zambia’s economy grew by 4% in 2023, exceeding expectations. The GDP expansion was driven by a sharp rise in fourth-quarter output, with an impressive 8.6% growth in the…
On January 20, 2025, shortly after his inauguration, Donald Trump halted funding from USAID, a key source of aid for Africa. Considering the United States is one of the world’s largest aid providers, this decision raises critical questions about the future of U.S. support, particularly for some African countries. Business Insider Africa presents the top…
Four African countries are teetering on the brink of default as mounting debt burdens, rising interest rates, and declining revenues strain national budgets. African countries are expected to spend approximately $74 billion on debt servicing as of 2024 AFRODAD named the affected countries and called for a UN-led mechanism to assist distressed countries Zambia, Ghana,…
After more than two decades of dormancy, the Port Harcourt refinery has successfully completed 180 days of uninterrupted operation, marking a crucial milestone in Nigeria’s push to revive its domestic refining capacity. Port Harcourt refinery in Nigeria has completed 6 months of uninterrupted operation Nigeria is making significant progress in revitalizing its refining capacity to…
For the first time in over a year, Zambia records an inflation decline, presenting the Southern African country with some much-needed economic relief. Zambia records first inflation decline in over a year. Annual inflation rate declines to 16.5% in March from 16.8% in the previous month. Drop in food prices due to increased rainfall following…
In a recent turn of events, the World Bank has brought to notice, the alarming state of Nigeria’s poor statistical performance. World Bank compares Nigeria’s poor statistical performance to Mexico, Colombia, South Africa, and Brazil. Delegation from World Bank meets with Nigerian Minister of Budget and Economic Planning to express concerns. World Bank recommends annual…
