The Kremlin has expanded the list of African friends whose banks may now trade currencies in Russia. These additions include Nigeria, Tunisia, and Ethiopia. Russia expanded the list of African countries eligible for currency trading in Moscow to include Nigeria, Tunisia, and Ethiopia. The total number of countries allowed for currency trading in Russia has…
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Following Trump’s remarks, the South African rand dropped nearly 2% against the dollar in early Asia trading. U.S. President Donald Trump announced the halt of aid to South Africa due to its land expropriation policies. Trump claimed that ‘certain classes of people’ in South Africa were being treated ‘very badly’ without providing evidence. Trump’s comments…
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The Democratic Republic of Congo has condemned the sponsorship agreement between major football clubs and the Rwandan government. DR Congo condemns sponsorship deal between football clubs and Rwandan government Rwanda has sponsorship deals with Arsenal, Paris Saint-Germain, and Bayern Munich, as well as a partnership agreement with NBA Africa Congo’s Foreign Minister urges Arsenal, Bayern…
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The mining of manganese in Gabon significantly boosted the Central African country’s revenue in its previous fiscal year. Gabon’s revenue significantly boosted by manganese mining in 2024. Manganese necessary for manufacturing steel and batteries. Gabon’s manganese mining revenue grew by 5.8% from September 2023 to over $1 billion by 2024. In 2024, Gabon saw a…
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U.S. forces conducted airstrikes in Somalia on Saturday, targeting a senior Islamic State attack planner and other militants, resulting in multiple casualties, President Donald Trump announced. U.S. forces conducted airstrikes in Somalia targeting senior Islamic State attack planner and other militants. The strikes were aimed at destroying caves and killing terrorists without harming civilians. The…
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Under the AfDB’s plan, countries would pool a pre-agreed amount of their proven critical mineral reserves, allowing local currencies to be converted at an agreed rate. African Development Bank is proposing a new currency system backed by critical minerals. Concept aims to leverage Africa’s vast critical mineral reserves and increase energy investments. New currency system…
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