African Union secures permanent seat at G20 Summit in historic achievement

The African Union has reportedly achieved a historic milestone by securing a permanent seat at the prestigious G20 summit, a gathering of the world's most affluent and influential nations. This significant development was formally endorsed by all member countries, at the request of the summit

Kenya's Hustler Fund to gain international support amid economic reshaping

Kenya is reportedly in negotiations with the World Bank and the European Union (EU) regarding the provision of financial assistance for the Hustler Fund, which constitutes President Ruto's prominent economic initiative intended to facilitate affordable credit access for Kenyan citizens. For t

Russian-African trade surges despite sanctions and pandemic challenges

As per reliable sources, Russian President Vladimir Putin has announced that despite facing international sanctions and challenges from the COVID-19 pandemic, trade between Russia and African countries saw a significant increase of nearly 35% in the first half of 2023. During a trilateral meeting

Guinea Bissau Gov Suspends Teachers' Salaries to Combat Payroll Fraud

Guinea-Bissau's government has reportedly taken action to tackle fraudulent claims and fictitious workers on the payroll by suspending teachers' salaries. As the government heavily depends on external financial aid, the proper tracking of the funds used are being made. This decision, announc

Nigeria to boost Tax Revenue and reduce reliance on borrowing

Nigeria has reportedly unveiled a plan to increase its tax-to-GDP ratio to a minimum of 18% within three years, aiming to reduce its dependence on borrowing for public expenditure, according to a statement released by the presidency on Friday. The largest economy in Africa is currently pursuing a

IFC commits $13 Mn investment to support Ecotourism in Africa

According to reliable sources, the International Finance Corporation (IFC) has recently announced its plan to invest up to $13 million in the Africa Conservation and Communities Tourism (ACCT) Fund. The investment aims to provide crucial support to ecotourism businesses operating in Southern and Eas

Chile & SQM to initiate lithium talks by Q3 to increase state control

The government of Chile and Chilean chemical firm, SQM, are reportedly set to initiate talks over its operations inside the Atacama Desert by the third quarter of FY23 to convince the lithium mining company, the world's No. 2, to ink a state-led public-private deal, the nation’s economy mi

SpaceX Starship rocket’s debut flight postponed due to frozen valve

In an unlikely turn of events, SpaceX, the American spacecraft manufacturer, launcher, and satellite communications corporation, has reportedly cancelled and postponed the debut launch of its highly anticipated Starship rocket during the final countdown, citing a frozen pressurization valve as the r

More than 50% Britons scale down on non-essential spending, says KPMG

More than half of consumers in the United Kingdom have reportedly reduced their leisure expenses since the start of the year, with approximately two-thirds preferring to lower their out-of-home dining expenses, KPMG data suggests. As families deal with a slew of bill hikes and increased taxes tha