Achieves

In the ever-evolving world of finance, a new ray of hope is emerging from Nigeria in the form of Retrust Microfinance Bank (MFB). This institution has quietly yet powerfully begun to redefine the landscape of microfinance, achieving remarkable growth without relying on external capital or aggressive investor funding. How is it possible, you might wonder? The answer lies in a commitment to community, customer deposits, and a responsive lending approach that is refreshing in today's financial climate. Retrust MFB was founded…

G20 Reaches Agreement: A Diplomatic Triumph for South Africa In a remarkable feat of diplomacy, the recent G20 summit, held under South Africa’s presidency in Durban, culminated in a united communique, much to the enthusiasm of global investors. The atmosphere was electric as the news spread; even without the presence of the U.S. Treasury Secretary, the agreement sparked a surge in South African assets. Investors reacted positively, and the South African rand experienced a notable rise of approximately 0.6%, trading at…

The Remarkable Journey of Payaza: A Bright Beacon in African Fintech Before the significant announcement from Agusto & Co., Payaza had already carved a niche for itself by attaining investment-grade ratings from reputable agencies such as Global Credit Ratings (GCR), an affiliate of Moody’s, and DataPro, Nigeria’s prominent rating agency. The endorsement from Agusto & Co. now positions Payaza as one of the few fintech companies across Africa to be triple-rated. This marks a pivotal moment—not just…

On July 12, the Angola National Oil and Gas Agency (ANGP) made an exciting announcement: a significant gas discovery in Block 1/14, situated in the Lower Congo Basin. This development, reported by Reuters, marks a pivotal moment in Angola’s ongoing journey in oil and gas exploration. According to insights shared by ANGP, the drill encountered rocks rich in gas and condensate. Preliminary assessments indicate that this newly discovered field might contain over one trillion cubic feet of gas, along with an impressive…

Zimbabwe’s gold-backed currency, the ZiG, recently achieved a significant milestone by recording its largest single-day gain against the U.S. dollar in 2023. This remarkable change can be attributed to a surge in gold production alongside a bolstered reserve of foreign currency, reflecting a new chapter in Zimbabwe’s economic narrative. On Friday, the ZiG appreciated by 0.2%, trading at 26.89 per dollar. This shift was particularly noteworthy, considering it marked only the twelfth instance of the currency…

Angélique Kidjo has taken a monumental step in history, becoming the first Black African artist to earn a star on the revered Hollywood Walk of Fame. This recognition is an extraordinary milestone, not only for Kidjo but for countless artists who dream of global influence. The vibrant, five-time Grammy-winning vocalist, hailing from Benin, is among the 2026 honorees, which also includes luminaries such as Miley Cyrus, Timothée Chalamet, and towering figure Shaquille O'Neal. Kidjo's journey through the music industry spans…

The Flourishing Grain Alliance: Russia and Egypt's Growing Partnership In a significant development in international trade dynamics, Russia has emerged as Egypt's leading grain supplier in 2024. The announcement from the Russian Ambassador to Cairo, Georgy Borisenko, has captured the attention of both economic analysts and agricultural experts alike. Russia’s export of over 10 million tons of wheat to Egypt not only marks a historic high for both nations, but it also sets a new precedent…

Venezuela's National Assembly Election: Ruling Party Maintains Control In a crucial election held yesterday, Venezuela's ruling socialist party reaffirmed its considerable majority in the National Assembly, securing nearly 83% of the votes, as reported by the electoral authority. This election, however, was marred by a boycott from some opposition leaders, reflecting deep divisions within the groups opposing President Nicolas Maduro's government. Major opposition figures had previously encouraged voters to abstain from…

Cahora Bassa Hydroelectric Plant Reports Record Profits in 2024 Mozambique's Cahora Bassa Hydroelectric Plant (HCB) has recently made headlines with its impressive achievement of reporting profits totaling 14.1 billion meticais, equivalent to approximately $219 million, for the year 2024. This remarkable financial performance not only highlights the plant's operational efficiency but also sets the stage for significant investments in the country's infrastructure and social programs. This development was…

Firefly Aerospace Achieves a Milestone: Touchdown on the Moon In a moment that echoes through the corridors of space exploration history, a U.S. company has successfully landed its spacecraft on the Moon. This remarkable event signifies Firefly Aerospace’s ascent as only the second private lander in the world to accomplish such a feat. The mission, aptly named Blue Ghost Mission 1, touched down at 3:34 AM Eastern Time, which corresponds to a crisp 8:34 AM in Ireland, near Mons Latreille—a volcanic…