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#Business and Finance

185 Articles

HRW Urges South Africa to Stop Scapegoating Migrants Amid Xenophobia

After coordinated protests by the anti-immigrant group March and March targeting undocumented migrants in Pretoria, Johannesburg, and Durban, Human Rights Watch urged South African authorities to act decisively. South Africa researcher at Human Rights Watch Nomathamsanqa Masiko-Mpaka said authorities "should intensify efforts to address anti-immigrant sentiments and violence to ensure the safety and protection of at-risk foreign nationals in the country," calling for stronger measures to curb hostility and safeguard…

Rwanda’s President Paul Kagame Criticizes Sanctions, Urges African Cooperation

From the stage of the Africa CEO Forum in Kigali, President Paul Kagame delivered a sharp critique of global sanctions, saying they are wielded unevenly and weaponized against weaker states. He argued that the way sanctions are imposed reflects raw power rather than justice, advantaging countries with greater strategic or economic clout. During a session moderated by CNN anchor and correspondent Eleni Giokos, African leaders were pressed on how they are navigating escalating geopolitical strains — from disputed mineral…

Namibians Call for Salary Increases After Transport Fare Hike

A government-approved rise in taxi and bus fares set to take effect on May 18 has sparked swift backlash across Namibia, with many urging authorities to match the move with increases in public sector pay. The adjustment covers taxis, minibuses, and inter-city buses, drawing immediate concern from everyday commuters and civil servants alike. Minister of Works and Transport Veikko Nekundi said the revision stems from escalating fuel costs linked to persistent geopolitical tensions in the Middle East, a squeeze he noted is…

DR Congo Opposition Rejects President Tshisekedi’s Third-Term Bid

President Félix Tshisekedi has ignited a political backlash in the Democratic Republic of the Congo after saying he would consider a third term if citizens called for it, a statement that opposition leaders swiftly denounced. The constitution restricts presidents to two terms, and Tshisekedi said any modification would be decided by referendum. His critics counter that Article 220 expressly forbids changing presidential term limits, accusing him of laying the groundwork to prolong his time in office. The dispute…

New Nigerian Power Minister Commits to Stabilizing Grid in 100 Days

Nigeria's national electricity grid continues to face severe instability, plagued by frequent system failures that interrupt power distribution nationwide. Since President Bola Tinubu took office in May 2023, the grid has experienced at least 20 significant collapses, as reported by industry statistics compiled by early 2026. In response to these ongoing challenges, Joseph Tegbe, the minister-designate for power, has committed to addressing the persistent issue of grid failures, provided he is confirmed and officially takes…

Aid Cuts Hit Malawi as Country Faces Unprecedented Economic Shock

A stark warning from the International Monetary Fund says sweeping global aid cutbacks have pushed Malawi onto a financial knife-edge, exposing deep-seated frailties in the country’s economic management. For years, the nation has leaned heavily on donor support to finance vital development programs and routine government operations. The IMF’s latest report on Sub-Saharan Africa notes that assistance to the region fell by 16 to 28 percent in 2025. This funding gap lands as Malawi contends with a debt-to-GDP ratio above 90…

Ghana to Construct 1,200MW Gas Power Plant to Prevent Energy Crisis

In a bold move to enhance the nation’s energy infrastructure, President John Dramani Mahama has unveiled plans for a significant expansion of Ghana's energy capacity through the development of a new 1,200-megawatt gas-fired power plant. This initiative aims to preempt potential energy shortages that have plagued the country with recent power supply disruptions. During the announcement, Mahama emphasized the pressing need for increased investment in the energy sector, highlighting that when his administration took office in…

Tanzania, Rwanda to deepen economic and infrastructure cooperation

Tanzania and Rwanda have moved to tighten ties, with Presidents Samia Suluhu Hassan and Paul Kagame vowing to expand cooperation that prioritizes trade facilitation, infrastructure links, and broader regional integration. The initiative is intended to speed up Rwanda’s transit logistics through the Port of Dar es Salaam, a lifeline that handles about 70% of the landlocked country’s imports and exports—some 1.6 million tonnes of cargo each year. President Samia said Tanzania is ready to deepen relations by dismantling…

Nigeria Approves Significant Road Project Amid Ongoing Debt Concerns

In a significant legislative move, the House of Representatives has granted approval for President Bola Tinubu's proposal to secure an external loan of $516.3 million aimed at constructing key segments of the Sokoto-Badagry superhighway. This ambitious project, spanning approximately 1,000 kilometers, is set to connect the states of Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos, commencing in Illela, Sokoto, and culminating in Badagry, Lagos. This green light comes on the heels of robust recommendations from various…