The latest International Monetary Fund forecast for sub-Saharan Africa calls for continued slow economic growth through 2022, with similar conditions next year —an outlook that remains highly uncertain, the IMF said. “Late last year, sub-Saharan Africa appeared to be on a strong recovery path out of a long pandemic,” said…
The governments of Uganda and Tanzania are pushing back against a resolution, passed by the European Union, that calls for environmental and human rights protections as the two nations develop the East African Crude Oil Pipeline (EACOP). The European Parliament resolution warns that the project threatens wetlands and water resources,…
The African Development Bank (AfDB) is inviting private sector organizations in the Central Africa region to reach out with plans for viable projects, now that there’s an additional US$5 billion in funding through the AfDB Enhanced Private Sector Assistance (EPSA) program. Priority projects focus on providing power and connectivity, as…
A high-level meeting in Gabon has African leaders focused on how the continent can provide solutions to the global climate crisis, with President Ali Bongo Ondimba welcoming ministers and delegates from 42 nations as well as United Nations representatives. “In less than three months, the UN Climate Change conference will…
Ghanaian politicians took to the airwaves on Monday, defending their decision to work toward an International Monetary Fund financing deal in order to pull out a country mired in economic crisis. “Times are hard globally and locally too,” said information minister Kojo Oppong Nkrumah, in one of several media interviews…
Another €600 million is headed to African nations as well as other parts of the world, after the European Commission approved additional food security aid it says is needed because of the Russia-Ukraine conflict. The humanitarian assistance will come from the reserves of the European Development Fund, according to Ursula…
The African nation of Chad has one of the world’s lowest rates for electricity access, but new investment in renewables is expected to reverse the situation, beginning with a solar plant expected to be fully operational in early 2023. Just 8% of Chad’s population had electricity in 2019, with access…
Civil society organizations in Ghana are stepping up their opposition to the Agyapa Royalties deal advanced by President Nana Akufo-Addo, which would set up an offshore company in the Channel Island tax haven of Jersey. The deal, approved by parliament in 2018, was established by the Minerals Income Investment Fund…
Nigeria is promoting its oil and gas industry during President Buhari’s state visit to Spain, a move that comes as European nations seek to secure resources to replace the now-banned imports of Russian oil. Buhari and representatives of the Nigerian National Petroleum Corporation (NNPC) have highlighted Nigeria’s energy sector during…
People living in southern Angola are experiencing the worst drought in 40 years, with many crossing the border into Namibia in search of resources and relief after consecutive years of below-average rainfall affecting their crops. The International Federation of the Red Cross (IFRC) says the Angolan provinces of Huila, Cunene…
South Africa’s chief justice has called for the criminal prosecution of former executives and board members of Eskom, the struggling South African energy utility at the center of a lengthy corruption investigation into associates of former president Jacob Zuma. The latest installment of the State Capture Commission reports, released Friday…
The economic recovery that has followed COVID pandemic impacts in sub-Saharan Africa has been disrupted by the impacts of war in Ukraine, with the International Monetary Fund (IMF) now trimming back its 2022 projected growth estimates to a slower 3.8%. “The Russian invasion of Ukraine has triggered a sharp rise…
President Dénis Sassou N’Guesso of the Republic of Congo was in Italy on Thursday to discuss partnership on energy between the two nations, one that centers on a new deal supported by oil major Eni to increase the supply of gas from the African nation. “The Italian government is pushing…
Catastrophic flooding that followed heavy rains in the South African province of KwaZulu-Natal has claimed at least 259 lives, according to the disaster management agency leading the emergency response. The rains that began late Monday swamped roadways, stressed dams, and brought towering walls of mud and water down on the…
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…