Business and Finance

At least five illegal miners were killed when an artisanal mine collapsed during heavy rains in Guruè district, Zambézia province, Mozambican authorities said Tuesday, underscoring growing safety and security concerns around unregulated mining across the country. District administrator Felisberto Ponta Vida said the landslide occurred amid torrential rainfall that swept through the area. Local officials have not released the identities of the deceased or provided details on whether more people were missing. The collapse in…

Widespread Power Outage: Electricity Grid Faces Third Collapse in a Month The electricity grid has recorded its third collapse in a month, raising significant concerns about the reliability of power infrastructure in the region. The latest failure, which occurred on Wednesday evening, affected millions of residents, leaving businesses shuttered and homes in darkness. This repeated instability points to deeper issues within the electrical system that demand urgent attention from authorities. Approximately 6 million people…

South Africa announced Monday that it will temporarily withdraw from G-20 engagements while the United States holds the presidency, a move that South African officials called a pause rather than a permanent exit and that analysts say could dent Africa’s voice in the world’s most powerful economic forum. The withdrawal follows a sharp deterioration in ties after U.S. President Donald Trump declined to attend the 2025 G-20 summit in South Africa and publicly accused Pretoria of pursuing policies hostile to American interests.…

Nelson Chamisa, the former leader of the Citizens Coalition for Change, has announced his return to frontline politics in Zimbabwe, issuing a sweeping indictment of the country’s governance and calling for a “fresh start” to address what he described as a worsening political, economic and social crisis. In a lengthy statement released Friday, Chamisa accused the current administration of presiding over a legitimacy crisis marked by disputed elections, rigged polls, corruption, state capture and political intolerance. He…

EU Removes Several African Countries from High-Risk Money Laundering List Several African nations, including Nigeria, South Africa, Burkina Faso, Mali, Mozambique, and Tanzania, have recently been removed from the European Union's list of high-risk jurisdictions for money laundering and financing terrorism. This significant decision follows comprehensive reforms made in their anti-money laundering and counter-terrorism financing frameworks. The delisting by the EU is expected to have a positive ripple effect, facilitating…

New Leadership in U.S. Africa Bureau Faces Complex Challenges Nick Checker, who stepped into the role of head of the State Department's Africa Bureau earlier this month, brings a unique perspective to the position after spending most of the past decade at the CIA. Unlike his two predecessors—career diplomats who served under President Trump—Checker has only four months of experience at the State Department. As the 'Senior Bureau Official,' a title currently used for acting positions across numerous agencies, Checker is…

Dangote Petroleum Refinery has categorically denied a report alleging that the facility is shutting down for maintenance, labeling the claim as "false and misleading." In a statement issued on Monday, refinery officials emphasized that production is currently ongoing, stable, and uninterrupted. This announcement comes in response to a wave of misinformation that has circulated online regarding the refinery's operational status. The Dangote Petroleum Refinery, situated in Lagos, Nigeria, is one of the largest in Africa and…

Tragedy Strikes as Migrant Boat Capsizes Off The Gambia At least seven people have died and many others remain missing after a boat carrying about 200 migrants capsized off the coast of The Gambia while attempting to reach Europe. This harrowing incident underscores the grave dangers faced by those seeking a better life, and it highlights the ongoing migration crisis engulfing the region. The vessel overturned near Jinack village in the North Bank Region, a noted backdrop for previous such attempts. It was later…

Nigeria's Bold Tax Reforms: President Tinubu Stands Firm Amid Controversy President Bola Tinubu has announced that Nigeria will begin enforcing sweeping new tax laws from January 1, dismissing criticism over discrepancies between the gazetted text and the version passed by lawmakers. Tinubu described the reforms as a "once-in-a-generation opportunity" to establish a fair, competitive, and resilient fiscal framework for the country. He emphasized that all recently enacted tax reforms, including provisions that took effect…

African Export-Import Bank (Afreximbank) and Heirs Energies Limited have announced a landmark US$750 million financing partnership designed to optimize Heirs Energy's capital structure and unlock critical liquidity to support its working capital requirements as it pursues its ambitious field development program. The investment is expected to significantly transform Nigeria's domestic energy capacity as demand rises. This collaboration comes at a crucial time for Nigeria, a nation grappling with increased energy demands and…