African

Exploring the Burden of Debt in African Economies Albert Einstein once quipped, "Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it." This quote rings particularly true for several African nations today. According to the International Monetary Fund (IMF), numerous African economies find themselves grappling with alarming levels of government debt. This raises a multitude of questions about fiscal sustainability…

On the horizon, South Africans face yet another financial challenge. With already precarious economic conditions, the impending electricity price increase of 12.7% slated for April 1, 2025—dubbed "Fossil Fools' Day" by the environmental group Earthlife Africa—has sent shockwaves through households already struggling to make ends meet. When combined with the anticipated 0.5% hike in VAT, families will be forced to grapple with excruciating choices: Should they pay for electricity or for essentials like food and medicine?…

By Ali Musa, Axadle Times International – Monitoring Recently, an ambitious initiative unfolded, underscoring India's strategic outreach in the Indian Ocean. This initiative, aptly named the India-Africa Key Maritime Engagement (AIKEYME), captures both vision and ambition. One might ask, "Why this initiative and why now?" The reasons are manifold and deserve a deep dive. India has embarked on this program to assert its naval influence…

The International Energy Agency (IEA) has illuminated a promising pathway for Africa's energy landscape. Do you know what's intriguing? Solar photovoltaics (PV) and wind power have now become more cost-effective than traditional gas and coal in most African regions. Imagine a shift so significant that by 2030, these renewable sources could generate 27% of the continent's electricity. That’s almost a third, a promising leap towards a greener future. Fast forward to January 2025, and a daunting…

As Ukraine embraced its new role in the world of international education in the years before 2022, it became a sanctuary of learning for over 80,000 students who traveled from every corner of the globe. A significant portion, approximately 20%, hailed from the vibrant continent of Africa. They came with dreams of becoming healthcare professionals, engineers, and pharmacists. Yet, in the midst of unforeseen chaos sparked by Russia’s sweeping invasion, these dreams faced disruption. Thousands were forced into evacuation,…

The discourse around the elimination of fuel subsidies is fraught with complexities. On the one hand, there is a prevalent belief that removing these subsidies could lead to positive outcomes in the long term. But, is that always the case? In discussing this issue, we must consider not only the economic theories but also the real-world impacts that countries face when embarking on this challenging path. Nigeria serves as a compelling case study. When the country made the decision to eliminate fuel subsidies, the…

Cassava Technologies and Nvidia: Pioneering AI in Africa Have you ever wondered what it takes for a continent often overshadowed in tech innovations to take the global stage? Well, perhaps a blend of audacity and strategic partnerships might just do the trick. In an inspiring stride towards transforming Africa’s digital landscape, Cassava Technologies, under the visionary leadership of Zimbabwean telecoms mogul Strive Masiyiwa, is collaborating with Nvidia Corp. to lay the foundation for Africa’s very first…

Cairo, Egypt, 24 March 2025: In a strategic move that echoes both promise and progress, Somalia has officially joined the ranks of the African Export-Import Bank (Afreximbank), becoming its 53rd member state. This pivotal accession marks a step closer to Afreximbank’s vision of an integrated African financial synergy, aiming to extend its diverse suite of offerings across the continent. With a committed signature from Hon. Hirsi Jama Gani, State Minister, Office of the Prime Minister, this accession wasn’t merely a…

Somalia's President Engages with the New African Union Chairperson in Mogadishu MOGADISHU, Somalia — The air in Mogadishu held a mix of anticipation and solemnity as Somali President Hassan Sheikh Mohamud welcomed a distinguished guest at the Villa Somalia Presidential Palace. It was Sunday, a day set apart for forging deeper alliances. The occasion? The inaugural visit of Mahamoud Ali Youssouf, the freshly minted Chairperson of the African Union Commission, since his election barely two months ago.…

Imagine a bustling marketplace where African businesses transact seamlessly with partners across the globe, free from the shackles of outdated financial systems. This vision, once seemingly utopian, is slowly morphing into the new reality, thanks to the dynamic duo of Bitcoin (BTC) and Tether (USDT) in trade payments. Challenges in Traditional Trade Payments The traditional landscape of international trade payments poses significant hurdles for African businesses, affecting competitiveness on the global stage.…