Sudan Recorded Highest Gold Production in 2022

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The Sudanese Mineral Resources Company announced the production of more than 18 tons of gold in 2022. The body described it as the highest productivity in the history of the mineral sector in Sudan. The Director of the General Administration…
Africa News

Egypt’s Pound Drops to Record Low Against the Dollar

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Egypt devalued the pound in October but it's not let it float freely against the US dollar - which is a condition of IMF loans. In any case the new three billion dollars IMF loan does not significantly help - Egypt’s debt servicing…
Business Daily

Kenyan Exporters Earn Billions in Exchange Gains in Q3

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Kenyan exporters have booked billions of shillings in exchange gains from a weaker shilling as the Central Bank of Kenya’s decision to let the exchange rate act as a shock absorber began to pay off. Compared to the third quarter of…
Food for Mzansi

Burundi Takes the Lead in Subsidizing Farmers

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The Burundian government has thrown its support behind farmers by subsiding as much as 70% of farmers’ day-to-day operating costs. Burundi’s President Évariste Ndayishimiye has now called on Africa’s leaders to do the same, including…

Togolese Traders Welcome End of Quarantine for Travelers to China

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In Togo, news of China reopening its borders to the world is has been welcomed by local traders. China will scrap its COVID quarantine for overseas arrivals measure starting January 8, 2023 after three years of tight restrictions. In…
The Guardian

AfreximBank Earmarks $100 Million to Tackle Nigeria’s Export Challenges

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The African Export and Import Bank (Afreximbank), yesterday, announced plans to invest up to $100 million for the establishment of quality assurance centres in Nigeria. Already, the bank has deployed $11 million for the completion of the…
CNBC Africa

German Companies Plan to Invest More In Africa in 2023

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German companies want to boost their activities in Africa next year, especially in areas such as green hydrogen and liquefied natural gas, with 43% planning to increase investment in the continent, a survey seen by Reuters on Tuesday showed. The…

Madagascar: Slow Revival of Tourism Post Covid-19

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With the reopening of borders in April 2022, after two years of isolation from the rest of the world, tourism in Madagascar is slowly but surely regaining momentum. Despite an undeniable attraction for Madagascar as a destination, renowned…
Africa News

Suez Canal Chief Seeks to Dispel Fears Over Draft Egypt Law

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The head of the Suez Canal Authority (SCA) Osama Rabie assured Thursday that the strategic maritime passage was "not for sale" following concerns raised in Egypt by a draft law under discussion in parliament. The Suez Canal, which sees…
IMF

IMF to African Oil Exporters: Create Fiscal Buffers Now

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The International Monetary Fund, (IMF) has advised oil exporting countries in Africa to, as a matter of urgency, create fiscal buffers, against possible future oil price falls. According to the organization’s statement yesterday, African…