The Catoca diamond mine, located in Angola, is the world’s fourth-largest open-pit diamond mine and is responsible for producing over 75% of Angola’s diamonds. However, this vital source of revenue has been at the center of a dispute between Angola and Russia, stemming from the impact of international sanctions on the sale of diamonds mined…
Egypt has escalated its ongoing dispute with Ethiopia over the Grand Ethiopian Renaissance Dam (GERD) by formally bringing the matter to the United Nations. The Egyptian foreign minister has sent a letter to the President of the UN Security Council, highlighting the tensions and potential repercussions of Ethiopia’s recent actions concerning the dam. This move…
Algeria has officially received approval to join the BRICS New Development Bank (NDB), marking a significant step in the nation’s economic and diplomatic engagement with the BRICS bloc. The announcement was made by the bank’s president, Dilma Rousseff, during the ninth annual meeting of the NDB in Cape Town, South Africa, Reuters reported on Saturday….
The Nigerian government has announced plans to allocate $800 million to establish new power substations and distribution lines as part of the Presidential Power Initiative (PPI). This development was disclosed by the Minister of Power, Adebayo Adelabu, during his tour of the TBEA Southern Power Transmission and Distribution Industry in Beijing, China. The ministry released…
Abdul Samad Rabiu, Chairman of BUA Cement, has revealed that the company’s initial plan to reduce cement prices to ₦3,500 per bag was undermined by greedy middlemen and a lack of cooperation from other industry players. Speaking during BUA Cement’s 8th Annual General Meeting (AGM) on Thursday, Rabiu explained that the company’s price reduction strategy,…
Ghana has taken a significant step toward diversifying its energy mix by signing an agreement with a U.S. developer to build its first nuclear power plant using NuScale Power’s innovative technology. This agreement marks a new chapter in Ghana’s energy strategy, aligning with the country’s industrial ambitions and climate goals. The U.S. State Department confirmed…
The Nigerian naira has crashed beyond N1,600 against the US dollar in both the official and black market exchange rates, highlighting ongoing concerns over Nigeria’s economic stability. Despite recent interventions by the Central Bank of Nigeria (CBN) to stabilize the currency, the naira continues to face significant pressure in the foreign exchange markets. Naira Depreciates…
Namibia is set to cull more than 700 wild animals, including elephants, zebras, and hippos, as part of an effort to distribute meat to communities struggling with food insecurity due to the worst drought the country has faced in a century. The Ministry of Environment, Forestry and Tourism announced on Monday that the culling program…
Australians are falling victim to increasingly sophisticated crypto investment scams, losing over $122 million (AUD $180 million) in just 12 months, according to a recent press release from the Australian Federal Police (AFP). The report reveals that people under 50 are now the primary target of these fraudulent schemes, highlighting a growing trend that younger…
Starlink, the Low-Earth Orbit (LEO) satellite internet service by SpaceX, is now operational in Botswana. This development adds the country to the growing list of African nations adopting Starlink to improve their internet infrastructure. The service aims to provide high-speed internet to underserved and remote regions, promising significant benefits for Botswana’s digital landscape. Botswana has…