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Sierra Leone: Gas Shortages Forces Taxi Drivers to Turn to Black Market

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Long queues are still being experienced at major petrol stations in Sierra Leone as the west African country grapples with high gas prices and scarcity. The gas prices have nearly doubled compared to the previous year to 1.14 USD. "If…
African Business

AfDB lends €166m for the Dakar-Saint Louis Highway

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  New funding has been approved for the construction of a 200km highway between Dakar and Saint-Louis. The longstanding project, which will connect Senegal’s capital city to its centre for sugar production, and planned hub for…
CNBC Africa

Zambia on Track for Debt Restructuring Next Quarter-Finance Minister

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Zambia is pushing hard to complete the restructuring of nearly $15 billion of external debt in the first quarter of 2023 and is “in active engagement” with its largest bilateral creditor China, Zambia’s finance minister said in an interview…

US Trade with Africa in Decline, But Aid Remains Stable

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Africa accounts for less than 2% of total US merchandise exports and imports. The overall value of US exports to the continent fell from $32.9bn in 2011 to $26.7bn in 2021, while imports declined from $93bn in 2011 to $37.6bn in 2021, according…
Business Daily

Solv Kenya Signs MSMEs Payments Deal With Cellulant

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    Solv Kenya, the Standard Chartered Plc-backed digital marketplace for small traders has inked a deal with Cellulant that will enable businesses to view payments on the go under one roof. Under the deal, Cellulant will…

With the Right Policies, the AfCFTA Can Drive Africa’s Industrialization

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The African Continental Free Trade Area (AfCFTA) will spur Africa’s industrialization and deepen regional integration provided the continent institutes supportive policy reforms and foster trade, experts predict. The AfCFTA which entered…
CNBC Africa

In Niamey, African leaders Vow on Industrialization, Trade

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  African leaders meeting in Niger's capital Niamey have called for a doubling of efforts to promote industrialization in Africa. The leaders including Nigeria's Muhammadu Buhari, Rwanda's Paul Kagame and Zimbabwe's Emmerson Mnangagwa…
Business Insider Africa

How Nigerians are Reacting to the New Naira Design After 2 Decades

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Last month, the governor of the Central Bank of Nigeria, Godwin Emefiele, announced that the Naira would be undergoing some design changes, and asked Nigerians to brace up for an overhaul. In his announcement, Emefiele noted that the…
CNBC Africa

Africa’s Growing Crypto Market Needs Better Regulations

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  The collapse of the world’s third largest crypto exchange FTX, and subsequent plunge in the prices of Bitcoin, Ethereum, and other major crypto assets, is prompting renewed calls for greater consumer protection and regulation of…
CNBC Africa

South Africa's Manufacturing Grew 2.9 Percent in September- Statistics South Africa

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Manufacturing production increased in South Africa by 2.9% year-on-year in September, after rising by a revised 1.7 per cent in August. with the largest positive contributions made by the motor vehicles, parts and accessories and other transport…