Author: Faith Daniel
The African Export-Import Bank (Afreximbank) has announced an $8 billion (R128 billion) investment package aimed at stimulating South Africa’s economy. Speaking at a recent engagement with the Department of Trade, Industry and Competition (dtic), Afreximbank President Dr George Elombi said the funding aligns with South Africa’s national development priorities and reflects the country’s new status as a full member of the multilateral trade finance institution. “This country package is aligned with South Africa’s national development priorities and will target key areas,” Elombi said, stressing the bank’s commitment to strengthening local industrialisation and infrastructure. A major portion of the investment will…
A Nigerian court has ordered the British government to pay a total of £420m in compensation to the families of 21 coal miners killed in 1949 by the colonial administration in south-eastern Nigeria. The ruling directs the UK to pay $27m (£20m) to each affected family. The miners were shot dead by colonial police made up of both Nigerians and Europeans while protesting for better working conditions. Dozens of others were injured in what has long been regarded as one of the most notorious acts of repression under British rule in Nigeria. Historians say the killings played a key role…
More than 100 armed jihadists, dressed in army fatigues and riding motorcycles, stormed the neighbouring Muslim villages of Woro and Nuku in Nigeria’s western Kwara state in a brutal revenge attack. “They came en masse in the name of religion, and they decided to kill our people,” said Abdulla Umar Usman, a former teacher and resident of Woro, describing how the violence unfolded. At least 75 people are confirmed dead so far. The attack began about an hour before sunset on Tuesday, as residents of the farming communities were returning from their fields, where they grow yam, maize and millet.…
Starting in February 2026, Moroccojoins Nigeria, Egypt, Ghana, Algeria, Senegal, and several other nations in facing significant travel setbacks to the U.S. due to the U.S. government’s decision to freeze visa processing for nationals from over 26 African countries. This drastic measure, part of an effort to ensure economic stability and mitigate concerns about public charge, has led to the suspension of immigrant visa applications for citizens from these countries, disrupting the ability of many to travel to the U.S. for work, study, or family reunification. While non-immigrant visas, such as tourist and student visas, remain unaffected, the freeze on immigrant visasmeans significant delays and uncertainty for those seeking permanent residency. This move is part of a…
Discovery CEO and founder Adrian Gore says South Africa is on a path that could deliver stronger economic growth, but cautioned that the country must act carefully to avoid undermining recent progress. Speaking on the sidelines of the World Economic Forum in Davos, Gore said two dominant themes at the gathering were the influence of US President Donald Trump and the rapid adoption of artificial intelligence. He added that South Africa has shown several positive signs in recent months, highlighting improved cooperation between business leaders and the Government of National Unity (GNU). Late last year, South Africa received its first…
Black Economic Empowerment (BEE) is one policy decision by the ANC that has done immense and lasting damage to the country’s economy. It has been described as an “unnatural economic structure” that rewards political connections over merit, hollowing out entrepreneurship, distorting markets, and bankrupting state institutions. This is according to Gerhard Papenfus, CEO of the National Employers’ Association of South Africa (NEASA), who said his comments were triggered by Mineral Resources and Energy Minister Gwede Mantashe. During a discussion on Newzroom Africa about the mining sector, Mantashe claimed that anyone who debates BEE promotes white supremacy. He said that BEE enabled black people…
Capital has changed, Africa must respond The global investment landscape is being reshaped by forces that are structural rather than cyclical. Multilateral consensus has weakened; capital has become more selective and geopolitical fragmentation is increasingly reflected in how and where investment flows In a world of higher interest rates and tighter liquidity, capital is no longer abundant, and the cost of misallocation is rising. For Africa, this moment represents both a constraint and a defining opportunity. Access to capital can no longer be taken for granted, yet the continent’s growth prospects, demographics and resource base remain compelling. The question is…
Rio Tinto and Glencore have decided not to proceed with the merger, with Gary Nagle-led Glencorebelieving the deal would undervalue its businesses. In January, Rio Tinto and Glencore confirmed that talks were underway to create the world’s largest miner, with a combined market cap exceeding $200 billion (approximately R3.2 trillion at current exchange rates The companies said they were discussing a potential combination of some or all of their businesses, which would include an all-share takeover. The deal would have marked another copper-focused merger, following Anglo American and Teck Resources’ merger. Rio Tinto had until February 5 to confirm whether…
Former South African President Jacob Zuma has been mentioned in the latest release of the Epstein files after his name appeared in several emails linked to the late financier. The emails relate to a dinner that Jeffrey Epstein appeared to help arrange for Zuma in London in 2010. According to the correspondence, the dinner was also attended by a “beautiful” Russian model. Being named in the Epstein files does not imply wrongdoing. The Jacob Zuma Foundation has dismissed reports about the emails as “agenda-driven journalism built on innuendo” and “guilt by association,” stating that there was no unlawful or improper…
Former South African President Jacob Zuma has been mentioned in the latest release of the Epstein files after his name appeared in several emails linked to the late financier. The emails relate to a dinner that Jeffrey Epstein appeared to help arrange for Zuma in London in 2010. According to the correspondence, the dinner was also attended by a “beautiful” Russian model. Being named in the Epstein files does not imply wrongdoing. The Jacob Zuma Foundation has dismissed reports about the emails as “agenda-driven journalism built on innuendo” and “guilt by association,” stating that there was no unlawful or improper…
