Topic
africa-economy
8 stories related to this topic, newest first.
Semaforworld37 days ago
African Leaders Demand Local Processing of Minerals
Nigerian President Bola Tinubu said no one can export metal from Nigeria without adding value. Gabon’s president criticized opaque mining deals and ordered domestic processing by 2029. The statements were made at the Africa CEO Forum in Kigali as African countries seek to capture…
Semaforworld38 days ago
African Energy Producers Accelerate Plans to Increase Output
Countries across Africa have accelerated plans to boost energy independence following the Iran war. Senegal is seeking $7.5 billion in investment for a gas field discovered about a decade ago. Morocco and Nigeria have agreed to jointly develop a $25 billion pipeline while Africa'…
Semaforpolitics38 days ago
Africa-France Summit in Nairobi Yields $50 Billion in Investment Pledges
Kenyan and French presidents co-hosted the inaugural Africa Forward Summit where nearly $50 billion in commitments were announced, including a major East African oil refinery project. Separately, voting began Thursday in three Kenyan by-elections viewed as an early test of streng…
Semaforpolitics39 days ago
Africa Forward Summit in Nairobi Announces $50 Billion in Investment Pledges
Kenyan President William Ruto and French President Emmanuel Macron co-hosted the inaugural two-day Africa Forward Summit on May 12 and 13, 2026. Nigerian industrialist Aliko Dangote pledged a $16 billion to $20 billion East African oil refinery backed by Kenya, Tanzania and Ugand…
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france24.comworld39 days ago
Tanzania Urges African Nations to Use Natural Resources for Economic Growth
Tanzania called on African countries to leverage their natural resources to develop a strong continental economy and advocated for multilateral partnerships based on mutual respect and sovereign equality. The statement came after a two-day summit in Nairobi focused on renewing Af…
Al Jazeerabusiness40 days ago
Africa's Richest Man Plans Second Oil Refinery in Kenya
The businessman who opened Nigeria's 650,000-barrel-per-day refinery in 2024 has said he prefers to build a new $15-17 billion facility in Mombasa rather than Tanzania. The move follows global oil supply disruptions caused by conflict involving the U.S., Israel and Iran that clos…
Semaforworld41 days ago
Kenya Hosts Africa Forward Summit on Credit Risk and Investment
Kenyan Foreign Minister Musalia Mudavadi told Reuters that policymakers at the two-day Africa Forward Summit in Nairobi will focus on rethinking how to price risk on the continent. The event includes the European Bank for Reconstruction and Development and the African Development…
Semaforworld48 days ago
Moody’s Relinquishes South African License, Names GCR as Domestic Ratings Subsidiary
Global credit ratings agency Moody’s gave up its South African license on May 4, 2026, as part of a shift to prioritize cross-border investors and international funding for African issuers. The move leaves a regulatory gap that its subsidiary GCR, the continent’s biggest home-gro…
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