Kenya
Illicit gold networks fuelling conflict, organised crime across Africa and global south, GI-TOC warns
Illicit gold has become a critical source of financing for organised crime, armed groups and sanctioned regimes across Africa, a Global Initiative Against Transnational Organized Crime report finds.
Amazon selects Kenya for first African satellite gateway in Project Kuiper challenge to Starlink
Amazon selects Kenya as the location for its first African satellite gateway, advancing the rollout of Project Kuiper (Amazon Leo) to compete with Starlink in the East African market.
China’s BYD captures 35% of Africa EV market, as latecomer rival Tesla bets on Morocco
Chinese EV giant BYD upped its market share from just 4% in 2023 as electric vehicle sales on the continent accelerated. Tesla is betting on Morocco, Africa’s leading EV manufacturing hub.
Two killed in Kenya protests over US-backed Ebola isolation centre
The deaths occurred as demonstrations intensified over a proposed 50-bed Ebola treatment facility intended to treat US citizens affected by the ongoing outbreak.
Kenya plans 15% tax on foreign startup-investor exits, targets offshore VC deals
Kenya plans to introduce a 15% capital gains tax on indirect transfers involving local assets, effectively targeting offshore sales of shares in domestic companies.
Russia plans Africa summit in October as Moscow deepens Sahel ties
Russia will hold its latest Russia-Africa summit in October, according to officials involved in preparations for the event, as Moscow seeks to expand political, military and economic influence across Africa.
Kenya lists first infrastructure fund on Nairobi bourse with UK support
Spearhead Africa Infrastructure Fund became the first infrastructure-focused vehicle to list on the Nairobi Securities Exchange after raising $26.3mn for renewable energy, logistics and digital infrastructure projects.
Nigerian billionaire Dangote favours Kenya over Tanzania for 650,000-bpd East Africa oil refinery
Africa's richest man says Kenya is emerging as the preferred location for a proposed $15bn–$17bn refinery, citing Mombasa’s deep port and large fuel market.
Argentina is the IMF biggest debtor followed by Ukraine
Argentina remains by far the largest debtor to the International Monetary Fund, underscoring the depth of its long-running financial crisis and its dependence on multilateral support.
UK imposes sanctions against recruiters of African and other migrants to fight for Russia, build drones
The sanctions “expose and disrupt the operations of those trafficking migrants as cannon fodder and feeding Putin’s drone factories with illicit components,” the UK Sanctions Minister said.
IMF: Africa shifts from external to domestic debt come with rewards and risks
A major transformation is underway in sub-Saharan Africa: Governments are increasingly shifting borrowing away from external debt and toward domestic debt. This trend brings fresh opportunities to build resilience and support development.
Number of people without electricity halved since 2000 – OWID
Most people in the world would think very little before flicking on the lights, charging a mobile phone or turning on a laptop to read this.
Amazon’s low Earth orbit satellite venture seeks Kenyan licence to take on Starlink
SpaceX’s Starlink has already established a foothold in Kenya and dominates the country’s high-speed connectivity segment.
Africa’s ports and airlines gain as Red Sea crisis reshapes global trade routes
Some African economies are winners from the Iran war. From Kenya to Nigeria, they are registering sharp gains in trade, aviation and energy revenues as the conflict between the US, Israel and Iran disrupts traditional shipping.
Middle East conflict fallout to slow growth, push up inflation in Emerging Europe and Mediterranean region, EBRD says
Development bank says economic fallout is already spreading, through higher energy and fertiliser costs, damage to tourism and higher debt-servicing costs.
Refined oil products caught in Iran war energy shock maelstrom
The sharp rise in refined oil product prices is intensifying the economic fallout from the latest energy shock, compounding the effects of disrupted crude flows and tightening supply chains.
African food security threats spike as Iran war strangles fertiliser supplies, prices soar
Disruptions to fertiliser exports via the Strait of Hormuz have pushed urea prices above $700/MT, raising the risk of food inflation – and hunger – across Africa, where application rates are far below global norms.
African food security threats spike as Iran war strangles fertiliser supplies, prices soar
Disruptions to fertiliser exports via the Strait of Hormuz have pushed urea prices above $700/MT, raising the risk of food inflation – and hunger – across Africa, where application rates are far below global norms.
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Hormuz tensions raise inflation and energy security risks for Africa, says senior investment analyst
A senior investment analyst examines how the ongoing Middle East military conflict and rapidly climbing oil and gas prices are affecting African economies, supply chains and cost of living.