Africa is grappling with multiple crises, including a 183 per cent debt increase since 2010, quadruple the region's growth rate, according to UN Deputy Secretary-General Amina Mohammed, cited by Xinhua on Wednesday.
Speaking at the 10th Africa (...)
The International Monetary Fund's (IMF) Board has approved a significant amendment aimed at granting a greater flexibility to assist countries in crisis, even while negotiations with major creditor governments such as China are ongoing, Reuters (...)
The Paris Club, a group mainly comprising developed country creditors, has extended Ethiopia's deadline to secure a preliminary bailout deal with the International Monetary Fund (IMF) by three months, now ending in June, Bloomberg reported on (...)
Privately-owned Chinese firm GCL Holdings is shifting focus back to the natural gas sector, pivoting away from solar energy, according to Reuters.
Amidst a global liquified natural gas (LNG) supply surplus and burgeoning demand in China, GCL aims to (...)
, with prices reaching nearly two-year highs in countries like Ethiopia, Ghana, and Rwanda, Bloomberg reported on Tuesday.
Consequently, the average risk premium for African debt compared to US Treasuries has hit its lowest point since April (...)
Egypt's Foreign Minister Sameh Shoukry emphasised the importance of the "political consultation mechanism" as a framework that brings Egypt and the Gulf Cooperation Council (GCC) countries closer and creates opportunities for partnership and (...)
Africa's public debt is projected to remain elevated above pre-pandemic levels in 2024 and 2025, with numerous countries still at risk of sliding into debt distress as they struggle to manage international loan repayments, according to Reuters (...)
Kenya's eurobonds, which mature in June, saw a sharp increase after the country's announcement that it would be selling new securities and making an offer to buy back its $2 billion in debt, Bloomberg reported.
According to a government statement, (...)
The United Nations launched an urgent appeal on Wednesday, urging the international community not to overlook the millions suffering in war-torn Sudan. They requested $4.1bn in aid to prevent famine and assist refugees who fled to neighbouring (...)
The United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) has called for urgent concerted humanitarian support to tackle an impending drought-induced humanitarian crisis in Ethiopia.
The UNOCHA, in its latest Ethiopia (...)
Germany's Bayer announced that it would hire a third party to distribute its pharmaceuticals in four African markets including Kenya, with little to no effect on employment, Reuters reported on Wednesday.
The company, however, didn't disclose the (...)
Al Tamimi & Company, a leading law firm in the Middle East and North Africa, has announced the appointment of Amr Namek as its new Corporate Commercial Partner in Egypt.Amr is a distinguished Corporate Commercial lawyer with over 20 years of (...)
Law firm, Al Tamimi & Company announced on Wednesday the appointment of Amr Namek as its new corporate commercial partner in Egypt.
Amr has over 20 years of experience in advising multinational and regional clients on a wide range of transactions (...)
أعلن الجيش الإثيوبي تسلمه عددا (لم يعلن عنه) من مقاتلات الجيل الخامس من الطائرة الروسية سوخوي( Su-30 ) والطائرات العسكرية التركية بدون طيار بيرقيدار آقنجي.
ونشرت صفحات إثيوبية اليوم صورا جديدة للأسلحة المقاتلة المنضمة للترسانة العسكرية، ومشاهد لقاء (...)
Somali President Hassan Sheikh Mohamud signed a law that cancels the memorandum of understanding (MoU) between the Government of Ethiopia and Somaliland.
The symbolic move follows the announcement of a deal on 1 January between Ethiopia and the (...)
The Kingdom of Saudi Arabia has officially begun its membership in the BRICS group, according to the Kingdom's state-run news channel announced on Tuesday.
In August, Foreign Minister Faisal bin Farhan Al-Saud said that the Kingdom will study all (...)
The United Nations warned on Monday that the attacks on Gaza have created a humanitarian catastrophe, with half of the population facing starvation, New York Times reported.
According to a report by the UN, of the 2.2 million Palestinians living in (...)
The BRICS group, a key platform for emerging markets and developing countries, has officially welcomed five new members: Egypt, Iran, Saudi Arabia, the United Arab Emirates, and Ethiopia.
Their membership took effect on Monday, marking a (...)
The African Development Bank (AfDB) is withdrawing all its international staff from Ethiopia immediately, following a "gross violation" of diplomatic protocol and assault on two staff members by Ethiopian security forces. The move signals a (...)
Egypt announced the failure of the fourth and final round of negotiations on the Grand Ethiopian Renaissance Dam (GERD), which was held on Monday and Tuesday in the Ethiopian capital, Addis Ababa. Cairo said, "In light of these Ethiopian positions, (...)
Egypt, Ethiopia, and Sudan resumed negotiations over the Grand Ethiopian Renaissance Dam (GERD) on Monday in Cairo, with the ministers of water and irrigation from the three parties present.
The meeting was part of the negotiation track that the (...)
A powerful alliance of African climate activists and renewable energy leaders launched a fiery assault on fossil fuels at COP28 on Tuesday, urging African leaders to reject new dirty energy investments and embrace a green future.
"The climate crisis (...)
British Prime Minister Rishi Sunak announces a new scientific project aimed at consolidating efforts to develop climate-resilient crops as his government hosts a Global Food Security Summit in London on Monday 20 November.
The summit, a (...)
The African Export-Import Bank (Afreximbank) has provided a credit facility of $500m to two Egyptian contractors, Elsewedy Electric Group and Arab Contractors, as part of the 3rd edition of the Intra-African Trade Fair (IATF2023).
The bank has (...)
Deputy Minister of Foreign Affairs of Russia Sergey Ryabkov and Deputy Ministers of Foreign Affairs of Egypt R. Etreby, H. Fahmy and I. Badawi held a meeting in Cairo.
The main topic of discussion was cooperation within the BRICS framework, due to (...)