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Kenya is negotiating with the Bank of England to diversify its foreign reserves by incorporating gold.This strategy is p...
15/10/2025

Kenya is negotiating with the Bank of England to diversify its foreign reserves by incorporating gold.

This strategy is part of Kenya's effort to reduce reliance on the US dollar and boost economic stability.

Recent gold price surges have prompted numerous African nations, including Kenya, to expand their reserves.

Kenya's Central Bank governor emphasized prudence in timing to minimize risk from potential reversals in gold prices.

Karooooo, parent company of Cartrack, reported a 20% rise in revenue to $139 million for the half year ending August 202...
15/10/2025

Karooooo, parent company of Cartrack, reported a 20% rise in revenue to $139 million for the half year ending August 2025.

Founder Zak Calisto’s stake in the $1.74 billion firm now makes him a dollar billionaire, even after a partial share sale.

Cartrack’s subscriber base grew 15% to 2.4 million, with subscription services accounting for 98% of total revenue.

The group plans further AI-driven expansion across Africa and other emerging markets to sustain long-term growth.

15/10/2025

South Africa's structural reforms are renewing some economic sectors but fall short of achieving a 3.5% growth target.

Decaying infrastructure, power shortages, and logistics challenges have limited annual growth to less than 1% for over a decade.

The coalition government formed after the ANC's electoral loss aims to drive growth to 3.5% by 2030.

Moody’s anticipates reforms will only increase economic potential up to 2%, not surpass it.

Libya's central bank authorized the printing of 60 billion Libyan dinars to stabilize cash liquidity.About 25 billion ...
15/10/2025

Libya's central bank authorized the printing of 60 billion Libyan dinars to stabilize cash liquidity.

About 25 billion dinars were distributed to banks, with 14 billion more expected by year-end and 21 billion by 2026.

The printing agreement includes a previous deal with De La Rue for 30 billion dinars.

The bank removed 47 billion dinars from circulation to strengthen monetary stability, including 10 billion unofficial notes.

Shoprite CEO Pieter Engelbrecht took home $4.6 million in total pay for FY 2025, a year marked by record sales and strat...
15/10/2025

Shoprite CEO Pieter Engelbrecht took home $4.6 million in total pay for FY 2025, a year marked by record sales and strategic restructuring.

The group posted $13.8 billion in revenue, with profits up 21.9%, driven by strong performance from Shoprite, Usave, and Checkers.

Shoprite expanded its South African store count to 2,577 and plans to open 223 more in 2026 as part of its domestic growth push.

The retailer exited Ghana and Malawi, continuing a broader pullback from African markets to concentrate investment in South Africa.

Raila Odinga, former Kenyan Prime Minister, passed away at 80 in India after a cardiac arrest.Odinga, a prominent politi...
15/10/2025

Raila Odinga, former Kenyan Prime Minister, passed away at 80 in India after a cardiac arrest.

Odinga, a prominent political figure for over four decades, was undergoing treatment at an Ayurvedic hospital in Kochi.

His political career included five presidential bids and notable efforts towards national unity and reconciliation.

Known as 'Baba,' Odinga leaves a legacy as a staunch advocate for democracy, justice, and human rights.

Africa faces significant challenges combating violent extremism due to weak governance and instability.The U.S. Departme...
15/10/2025

Africa faces significant challenges combating violent extremism due to weak governance and instability.

The U.S. Department of State reports several regions serve as terrorist safe havens, including the Sahel and Lake Chad Basin.

Political transitions and military coups contribute to the operational expansion of extremist groups.

The State Department emphasizes the critical need for international assistance to address persistent security vulnerabilities.

Kruger National Park, a key South African wildlife reserve, is central to debates on its namesake's historical legacy.Pr...
15/10/2025

Kruger National Park, a key South African wildlife reserve, is central to debates on its namesake's historical legacy.

Proposals to rename the park highlight conflicts between preserving heritage and mitigating economic impacts.

Critics argue the name change could undermine the park's tourism appeal, a significant contributor to the economy.

Supporters of the renaming seek to address historical grievances tied to the park's origins.

Egypt plans to drill 480 exploratory oil wells over the next five years with a $5.7 billion investment.Egypt's current p...
15/10/2025

Egypt plans to drill 480 exploratory oil wells over the next five years with a $5.7 billion investment.

Egypt's current production capacity is approximately 559,000 barrels of oil per day.

International agreements with companies like Eni and BP aim to boost Mediterranean drilling.

A total of $7.2 billion is allocated for drilling 586 wells by 2030, according to strategic plans.

Shell and Sunlink Energies approved a $2 billion investment for the HI offshore gas project in Nigeria.The project will ...
14/10/2025

Shell and Sunlink Energies approved a $2 billion investment for the HI offshore gas project in Nigeria.

The project will produce 350 million cubic feet of gas daily, contributing to Nigeria's LNG export capacity.

The project aligns with Shell’s strategy to expand LNG output, highlighting a shift in focus to offshore and gas projects.

State-owned NNPC holds a 49% interest in Nigeria LNG, with Shell being the second-largest shareholder.

Copper prices have reached a 17-month high, driven by supply disruptions and speculative investments.The Democratic Repu...
14/10/2025

Copper prices have reached a 17-month high, driven by supply disruptions and speculative investments.

The Democratic Republic of the Congo (DRC) and Zambia are poised to benefit significantly from the price increase.

Zambia’s revenue from copper, constituting 70% of its export earnings, could stabilize its currency and support debt management.

The DRC may attract foreign investments into its key mining regions like Katanga and Kamoa-Kakula.

Rwanda’s trade ministry is finalizing a new policy to boost digital trade and expand service exports across AfCFTA and ...
14/10/2025

Rwanda’s trade ministry is finalizing a new policy to boost digital trade and expand service exports across AfCFTA and East African markets.

A market assessment in Djibouti is identifying new opportunities for Rwandan ICT, logistics, and professional service providers.

Services such as tourism, education, finance, and health already generate hundreds of millions in export revenue, with tourism leading the way with a $579.5 million haul in 2024.

Experts urge greater regional integration, ICT investment, and financing support to help Rwandan firms scale across Africa’s $4 trillion service market.

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