African central bank governors have renewed push for a unified monetary system for the continent, reaffirming plans for the eventual establishment of the African Central Bank. They made the commitment during a high-level summit in Yaoundé, where 41 central bank governors met to discuss climate-related financial risks and strengthen cooperation under the African Monetary Institute …
As Côte d’Ivoire prepares for President Alassane Ouattara’s fourth term in office, the nation finds itself at a defining crossroads. On one hand, it is celebrated across the continent as an economic success story, a country that has managed to sustain robust and uninterrupted growth for more than a decade. On the other hand, deep …
Africa remains a formidable force in the global energy market, anchoring international supply chains and national economies through crude oil production. As the world gradually pivots toward cleaner energy, the continent’s biggest oil producers are balancing rising transition pressure with the need to protect vital export earnings and jobs. Today, five African nations stand at …
In today’s economy where billion-dollar tech fortunes emerge overnight, another quieter reality exists: millions of workers across low-income nations survive on salaries that barely cover food and transport. Despite working full-time, they remain trapped in poverty. For many, salaries run out before the month begins, for others, survival means choosing between transport fares and meals. …
Billionaire businessman and philanthropist Tony Elumelu has reiterated his concern about building a new African economy, driven not by aid but by private sector leadership. He expressed this in a keynote speech at the Abuja Business and Investment Summit and Expo 2025 in Abuja. The event brought together policymakers, business leaders, investors, and entrepreneurs to …
Mineral development expert Dr Femi Salami has highlighted the need for African nations to harness their vast mineral endowments to become a tool for sustainable economic and strategic global power. Dr Salami, who spoke at different fora during the World Bank/International Monetary Fund (IMF) 2025 Annual Meetings in Washington DC, United States, pointed out that …
Sudan’s oil industry has suffered a 94% collapse since South Sudan’s independence in 2011. Finance Minister Gibril Ibrahim said the country’s output dropped from 500,000 barrels per day to just 30,000 barrels in a decade and half. Ibrahim revealed the figures during the Russian Energy Week Forum in Moscow, where delegates from 84 countries gathered …
Africa’s economic sovereignty is again under the spotlight following former President Olusegun Obasanjo’s warning against over-reliance on the International Monetary Fund (IMF) and World Bank. The ex-president’s comments, made at the Intra-Africa Trade Fair in Algeria, have sparked widespread debate, drawing reactions from economists, civil society actors, and ordinary Nigerians. “The World Bank is not …
By Esther Ososanya As the U.S. and China engage in a growing trade war, Africa is taking advantage of the situation to strengthen its economy and reduce dependency on foreign powers. Experts believe that these tensions could offer Africa a rare opportunity to increase its influence in global trade and investment. China has granted duty-free …
