Eye on Africa

Welcoming New Financial Horizons: FCMB Opens Branch in Sangotedo Just recently, the Ogudu Oshadi I of Ogombo Kingdom, Oba Abiodun Ogunbo, represented by Chief Lukman Lawal, the Aro of Ogombo Kingdom, extended a warm welcome to the First City Monument Bank (FCMB) team. It's not just a greeting; it reflects the essential role that banking services play in the lives of residents and businesses alike. Oba Ogunbo emphasized this necessity, praising FCMB's remarkable track record of supporting individuals and enterprises…

Egypt’s Economic Resurgence and Challenges In an encouraging turn of events, Egypt’s economy reported a growth of 4.77% during the third quarter of the 2024/25 fiscal year, a significant improvement from just 2.2% in the same period last year. This data, released by the Ministry of Planning, brings a sense of optimism amid the challenges that have long plagued the Egyptian economy. Could this signify a turning point, or is it merely a fleeting moment in a much larger narrative? The fiscal year in Egypt spans from July to…

The ambitious billionaire Elon Musk is making waves yet again. His satellite internet venture, Starlink, is setting its sights on a hefty R2 billion investment—roughly $112.7 million—in South Africa. This investment appears to be a strategic move to navigate the complexities of the country’s Black Economic Empowerment (BEE) requirements. But what does this mean for both Starlink and the South African landscape? Starlink has openly expressed its intent to forge partnerships with local South African businesses to…

In an exciting development, the Australian-listed company has announced a significant milestone that arrived ahead of schedule and under budget. This achievement marks a robust beginning for what is expected to evolve into one of the region’s key gold operations, a testament to the careful planning and execution of the project. As reported by Miningmx, Richard Hyde, Executive Chairman of West African Resources, described the first golden pour from the Kiaka mine as “a major milestone” in their bold ambition to…

President Museveni's Vision for Uganda: From Recovery to a Knowledge Economy In a recent address, President Yoweri Museveni articulated his ambitious economic vision for Uganda, describing a roadmap that has traversed five significant stages under his leadership. Reflecting on the nation's journey from turmoil to stability, he emphasized the importance of not just recovery but meaningful advancement. How can Uganda transform recovery into sustainable growth? This question lies at the heart of his message.…

The emergence of kush, a synthetic concoction derived primarily from marshmallow leaves, marks a troubling chapter in West Africa's battle against substance abuse. First surfacing in Sierra Leone during the early 2020s, this alarming trend quickly gained traction, infiltrating neighboring nations such as Liberia, Guinea, The Gambia, Guinea-Bissau, and Senegal. What drives this rapid proliferation? Is it the ease of production or the allure of a cheap high that beckons many into its addictive embrace? Initially, kush might…

The Path to Collaboration: North Western State of Somalia and Qatar Explore New Horizons Hargeisa (AX) — In an intriguing turn of events, the President of North Western State of Somalia, Abdirahman Mohamed Abdillahi Irro, recently engaged in a pivotal meeting with the Prime Minister of Qatar, Sheikh Mohammed bin Abdulrahman Al-Thani, in the vibrant city of Doha. This encounter, an exciting milestone for both nations, was centered around the expansion of bilateral cooperation in various sectors, including trade, energy,…

Recent statistics from Numbeo have revealed that Ghana stands at 12th among 23 African nations grappling with a high cost of living. This data prompts us to explore not just the numbers, but the real implications these figures hold for the everyday lives of Ghanaians. The Cost of Living Index in Ghana is reported at 30.6, broken down further into specific categories: rent is measured at 12.1, while essential groceries are sitting at 33.3. Interestingly, despite the high cost of living, Ghana has recorded five…

Evaluating the Impact of the Coastal Road Project on Landmark Beach and the Insights of Paul Onwuanibe In January 2025, a significant event unfolded along Nigeria's southern coastline—the demolition of Landmark Beach. This decision was part of a grander scheme orchestrated by the government, aimed at constructing a 700-kilometer coastal road that will eventually link the bustling city of Lagos with the serene state of Calabar. But what does this mean for the local economy, for tourism, and for the very…

In the dynamic landscape of Nigerian politics, the Labour Party's 2023 presidential candidate, Peter Obi, has declared his unwavering commitment to his supporters. He recently proclaimed his intention to contest against President Bola Tinubu once more in the upcoming 2027 election. Such announcements stir a mixture of hope and skepticism among the populace. Could Obi’s steadfastness transform Nigeria’s political narrative? While some might regard his promise as mere rhetoric, others see a glimmer of possibility in his…