Business and Finance

Malawi has struck a landmark mineral marketing agreement with U.S.-based Traxys North America to sell graphite from the Kasiya rutile-graphite project in Lilongwe, officials said Friday, a deal that both countries view as strategically significant amid growing global demand for critical minerals. Malawian authorities hailed the arrangement as a potential boost to the country’s export earnings and industrial profile. The U.S. government classifies both rutile and graphite as essential minerals, and they are widely sought for…

Tragedy Strikes in Plateau State: Carbon Monoxide Leak Claims Lives of Miners At least 33 miners have been reported dead in Plateau State following a suspected carbon monoxide leak at a lead and zinc mine operated by Solid Unity Nigeria Ltd. The incident has raised serious questions about safety protocols within Nigeria's mining industry. The toxic gas is believed to have accumulated in poorly ventilated tunnels, leading to a catastrophic collapse of workers who were near the end of their night shift. More than 20…

IMF Conditions Leave President Chapo Facing Political Costs and Economic Uncertainty President Daniel Chapo's bid to secure a new International Monetary Fund (IMF) loan — a linchpin he hoped would catalyze foreign investment and stabilise the country's ailing economy — has stalled after the IMF board set strict preconditions. The fund has demanded major fiscal reforms and a devaluation of the local currency as prerequisites for any agreement, a package that analysts say will be politically fraught for Chapo's ruling Frelimo…

Ghana to Evacuate Traders After Deadly Attack in Burkina Faso The Ghanaian government has announced urgent plans to evacuate traders injured in a recent attack in northern Burkina Faso. The victims were part of a group of 18 Ghanaians who had crossed into the Sahelian state for routine business, marking a grim escalation in violence affecting the region. "They were ambushed in a village while transacting business. Armed insurgents and terrorist groups attacked them, and unfortunately, we lost a number of our compatriots,"…

Members of parliament are pressing for a formal review of the benefits granted to former presidents after media reports said founding president Sam Nujoma had amassed assets worth more than N$100 million, including a state-funded mansion. The controversy has reopened questions about the scope and oversight of the 2004 Former Presidents' Pension and Other Benefits Act and about the line between public support and private enrichment. The 2004 law guarantees former heads of state a pension and a suite of state-funded…

Ghana to Propose UN Resolution Declaring Slave Trade as Crime Against Humanity President John Mahama has announced that Ghana will submit a resolution to the United Nations General Assembly designating the African slave trade as "the most serious crime against humanity." This bold move comes at a pivotal time, as discussions surrounding historical injustices and reparations gain momentum on the international stage. Speaking at the conclusion of the African Union summit in Addis Ababa, Mahama emphasized that the UN…

South Africa has declared the current foot-and-mouth disease outbreak a national disaster and will vaccinate 14 million cattle, President Cyril Ramaphosa announced, as the country confronts one of the worst outbreaks on record. "We have classified foot-and-mouth disease as a national disaster and will be mobilising all necessary capabilities within the state to deal with this crisis," Ramaphosa said, confirming the extensive vaccination campaign that authorities plan to roll out. The president's declaration elevates the…

China Responds to US Lawmakers’ Allegations of Illegal Mining in Nigeria The Chinese government has vehemently rejected allegations made by five US lawmakers claiming that it sponsored illegal mining activities in Nigeria and provided financial support to militias for protection. The embassy in Nigeria characterized the accusations as baseless and unfounded. In a statement, the Chinese embassy expressed dissatisfaction with what it termed as false claims, underscoring that Chinese nationals are required to adhere to…

Opposition parties in Namibia on Thursday united in opposing a petroleum amendment bill that would transfer regulatory authority over oil and gas from the Ministry of Industries, Mines and Energy to the Presidency, saying the move risks political interference, corruption and weakened parliamentary oversight. The bill, tabled in the National Assembly by Minister of Industries, Mines and Energy Modestus Amutse, has prompted an acrimonious debate as lawmakers weigh whether control of the country’s hydrocarbon sector should be…

Opposition parties in the National Assembly have united to reject a petroleum amendment bill that would transfer oil and gas regulatory authority from the Ministry of Industries, Mines and Energy to the President, saying the change risks political interference, corruption and weakened parliamentary oversight. The move, tabled by Minister of Industries, Mines and Energy Modestus Amutse, prompted sharp objections from a cross-section of opposition groups. The Affirmative Repositioning movement, the National Unity Democratic…