With Africa’s largest oil producer recording an average daily production of 1.62 million barrels of crude and condensate, Nigeria’s state oil company, NNPC, reported after-tax
Category: Africa
African nations are trapped in a debt cycle, as Chinese loan repayment exceeds the amount they receive in new loans.
China’s position as a major lender to developing countries has changed over the past ten years, with fresh loans to poorer nations drastically declining while
Ethiopia starts building “Africa’s biggest airport” for $12.5 billion.
On Saturday, Ethiopian Airlines formally began a $12.5 billion building project in the Ethiopian town of Bishoftu, which officials claim would be Africa’s largest airport
AfDB raises $11 billion for poor nations with US funding still pending.
African Development Group
Africa’s renewable energy gets a financing boost of $2.3 billion from the European Investment Bank.
Over the next two years, the European Investment Bank (EIB) has committed to funding renewable energy projects in Africa with more than 2 billion euros
UAE commits $1 billion to expand AI infrastructure in Africa.
To assist nations in achieving their national development goals, the United Arab Emirates said on Saturday that it will invest $1 billion to extend AI
Qatari Diar gives Egypt’s faltering economy a boost with $29.7b luxury projects on the Mediterranean coast.
Qatari Diar, the real estate division of Doha’s sovereign wealth fund, will enter into a collaboration agreement to develop a project on Egypt’s Mediterranean coast
Swiss-based bottler Coca-Cola HBC acquires control of the African bottling business for $2.6 billion.
Coca-Cola HBC, a Swiss-based bottler, announced on Tuesday that it has agreed to pay $2.6 billion to acquire a 75% ownership in its African counterpart.
Algeria signs a fully funded $5.4 billion oil and gas deal with Saudi Midad Energy.
Sonatrach, the state-owned energy firm of Algeria, announced on Monday that it has signed a deal with Midad Energy of Saudi Arabia for the exploration
U.S. Walmart is poised to dominate Africa’s retail market by year-end.
Walmart, a U.S. retailer, announced on Tuesday that it will establish its first branded stores in South Africa this year. Walmart’s action puts it in
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