The Dubai-based DP World says construction has begun on its new facility in the Somaliland port of Berbera. President Muse Bihi Abdi and DP World Group CEO Sultan Ahmed bin Sulayem launched the first phase of work during a groundbreaking ceremony on Thursday. The project includes a 400-meter quay and 250,000…
Angolan President João Lourenço wrapped up a visit to Beijing Wednesday, where he met with President Xi Jinping and other government leaders as well as members of the business community. Their talks led to a new USD$2 billion credit agreement for infrastructure funded through China Development Bank, according to Angola’s official…
Zimbabwe’s deteriorating economic situation has led to another round of panic buying and price spikes on food, fuel and other necessities, with the government announcing price controls to try and curb the outcry. Vice President Kembo Mohadi said Tuesday that the government will enforce laws against hoarding supplies to inflate…
Turkey is set to welcome ministers and business representatives from 49 African countries as the two-day Turkey-Africa Economy and Business Forum begins in Istanbul on Wednesday. This year’s forum is jointly organized by the African Union Commission, the Turkish Ministry of Commerce and Turkey’s Foreign Economic Relations Board (DEİK). Participants…
The new World Economic Outlook report projects that global growth will remain steady over 2018–19 at last year’s rate of 3.7 percent, but that’s revised down from 3.9 percent earlier this year. “There are clouds on the horizon. Growth has proven to be less balanced than hoped,” said Maurice Obstfeld, chief economist…
Many Liberians remained skeptical Thursday following the government’s quick reversal on the USD$103.4 million officials said was missing from the country’s central bank – but now isn’t. An official announcement in Monrovia on Tuesday was meant to assure citizens that the money, reported missing late last month, was accounted for…
In an interview with the Saudi government-linked Asharq al-Awsat earlier this week, Djibouti’s president Ismail Omar Guelleh credited Saudi Arabia’s King Salman for mediating the historic peace agreement between Djibouti’s long-warring neighbors Ethiopia and Eritrea. He also thanked for the Saudis for their role in his own country’s ongoing normalization…
I am a London-based researcher specialized in security issues and environmental protection. He is currently writing a book about the role lobbying plays in keeping African leaders in power.
Hundreds of Liberians took to the streets of Monrovia on Monday, demanding accountability for the USD$103.4 million that officials say has disappeared from the country’s central bank. Emmanuel Gonquoi, head of the Economic Freedom Fighters in Liberia (EFFL), and the COCUBOMB civil society organization (it stands for Concerned Citizens United…
Opposition politicians in Liberia are calling for a nationwide strike on Monday, demanding accountability for the USD$103.4 million that officials say has disappeared from the country’s central bank. Emmanuel Gonquoi is head of the Economic Freedom Fighters in Liberia (EFFL), which is modeled on the far-left EFF led by Julius…
The stunning story of Liberia’s missing money keeps getting worse, with government officials now saying that more than USD$103.4 million disappeared from its central bank. It’s a loss that’s been under investigation since August, and represents a jaw-dropping 5 percent of Liberia’s 2017 national GDP. That’s up from about $60…
President Paul Biya of Cameroon met with Chinese leader Xi Jinping on Friday as African heads of state continue to arrive in Beijing ahead of the Forum on China-Africa Cooperation (FOCAC) summit. Biya said he stressed Cameroon’s support for China’s Belt and Road Initiative, a global economic strategy at the…
All eyes have been on British Prime Minister Theresa May during her visit to Johannesburg, where she signed a joint statement on trade with South Africa, Mozambique, Botswana, Namibia, Lesotho and Eswatini – but on Wednesday, it’s German Chancellor Angela Merkel’s turn to visit the continent. Merkel begins a three-nation tour…
President Uhuru Kenyatta of Kenya met with United States President Donald Trump at the White House in Washington on Monday, in a visit focused on boosting trade and continued security cooperation. “We’ve had strong relations that stretch back – all the way back to our own independence. And we are…
China’s ambassador in South Africa took aim at the United States on Wednesday, warning that the U.S. is making the entire world pay for President Donald Trump’s misguided trade war and “America Only” foreign policy. “The U.S. is making itself the enemy of the whole world,” said Lin Songtian, speaking…
The global demand for palm oil used in foods and biofuels will mean an expansion of plantations on the African continent, but a new study finds it will be difficult to strike a balance between economic benefit and habitat protection for monkeys, lemur and other primates. Drawing on lessons learned…