The highly anticipated Africa Energy Bank (AEB) is set to launch in the first quarter of 2025, according to Nigeria’s Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri. Africa Energy Bank (AEB) to launch in first quarter of 2025 Aims to finance oil and gas projects and support Africa’s energy transition with a $120…
The approved tariff increase is expected to help mitigate the effects of macroeconomic challenges and support the company’s financial stability. MTN implemented a price hike on internet plans following NCC approval of a 50% tariff increase. Telecom providers in Nigeria, including MTN, have long advocated for price adjustments to align with economic realities. The approved…
As of 2024, several African countries remain deeply impacted by corruption, which affects their citizens’ lives and hampers economic development. Business Insider Africa presents the 10 most corrupt African nations The list is courtesy Transparency International’s CPI 2024 report Lowest scores were reported in Somalia, South Sudan and Libya Countries struggling with high corruption levels…
Mali has introduced new taxes on mobile voice calls and mobile money withdrawals to help fund its fight against an ongoing Islamic insurgency threatening parts of the country. Mali introduces new taxes on mobile voice calls and mobile money withdrawals to fund fight against Islamic insurgency. 10% tax on mobile recharge for calls and 1%…
The announcement comes after US President Donald Trump froze all aid to South Africa due to the country’s new land expropriation law and its allegations of genocide against Israel. The United States has announced a waiver allowing certain health programs to continue in South Africa. The waiver will ensure the continuation of HIV care and…
For the past few years, Russia has been rapidly expanding its footprint in Africa. Russia is prioritizing its expansion in Africa. Russia recently added Nigeria, Tunisia, and Ethiopia to its currency trading list and plans to trade with Tanzania in local currencies. Russia’s relationship with Africa is based on friendship, non-interference, lack of double standards,…
Kenya’s economy is set to experience some relief as the Kenyan Central Bank (CBK), has decided to enforce the implementation of the country’s current interest rate. Kenyan Central Bank enforces implementation of current interest rate. Kenya Commercial Bank (KCB) reduces lending rate from 15.6% to 14.6%. CBK puts pressure on banks to lower rates, initiates…
In a surprising move for Silicon Valley’s tech ecosystem, Sam Altman, CEO of OpenAI, has openly rejected a $97 billion bid from Elon Musk to acquire the AI company. Sam Altman rejected a $97 billion bid from Elon Musk to acquire OpenAI Elon Musk wants OpenAI to return to its open-source, safety-focused roots Altman rejected…
The Department of Government Efficiency (DOGE), established under the Trump administration and spearheaded by Elon Musk has blocked funding for Liberia. The Elon Musk-led DOGE has cancelled a $17 million project to provide tax policy advice to Liberia The cancellation is part of DOGE’s mission to reduce government waste and increase the efficiency of U.S.…
