deal

In an intriguing turn of international relations, Rwanda has set its sights on acquiring a substantial £50 million ($63.62 million) in compensation from Britain. This follows a dramatic disruption in a controversial asylum agreement, as revealed by an insider linked closely to the corridors of the Kigali government. The juxtaposition of politics and diplomacy often brings up questions: What happens when promises are broken across borders? The demand for compensation…

In a world that's often as unpredictable as a winding road through hilly terrain, Ghana finds itself at a critical juncture. The nation's central bank has taken a bold step by pausing its innovative but tumultuous program of using gold to purchase oil. This decision arrives amidst expectations that the cedi, Ghana's steadfast currency, will find its footing after a stormy year. Anecdote: I remember sitting at a small café in Accra, drinking a freshly brewed cup, when I overheard a conversation about…

On a crisp Sunday morning, the sun peeked over the horizon, casting its golden hue over the Gaza Strip. But this symbolic new dawn was quickly overshadowed by the stark reality of an unyielding blockade. Israel, firm in its resolve, halted the entry of goods and essential supplies into the beleaguered territory. The catalyst behind this decisive action was a lingering conflict with Hamas over extending a tenuous ceasefire. Within the echo chamber of international diplomacy, tensions simmered. Egypt, a…

Picture this: A colossal refinery standing tall in Nigeria, not just a symbol of industrial progress but an emblem of a nation's ambition to be a giant in the petrochemical industry. The Dangote Refinery, brainchild of Africa's renowned business magnate Aliko Dangote, is making strategic and daring moves in the global oil market. Their latest venture? A million-barrel crude oil shipment expected from Algeria in mid-March, marking an essential pivot in their crude sourcing philosophy. In the…

It's said that history doesn’t repeat, but it often rhymes. Can this phrase apply to Kenya's economic journey? Recently, whispers from unnamed insiders suggest a major shift in financial strategy. Insider sources, who chose to remain anonymous, leaked that the promised loan to Kenya will be delivered in full rather than in stages as originally intended. Such a financial influx at one go is quite unconventional, isn’t it? Not much has been said publicly; neither Kenya's Treasury Secretary John Mbadi nor the UAE…

In a significant move signaling potential thawing relations, Russia has released a U.S. citizen from prison following a historic visit by a member of President Donald Trump's administration. The White House has interpreted this development as a positive gesture towards resolving the ongoing conflict in Ukraine. Marc Fogel, who had been incarcerated since 2021 on drug-related charges, was set free as part of what the administration has described as a "swap." Details concerning the specifics of this arrangement remain scarce.…

The price tag for Somali pilgrims heading to the Hajj in 2025 has shot up to a whopping $4,604. This price surge reflects the inflating costs of travel and accommodation in Saudi Arabia, as per the Somali Ministry of Endowments and Islamic Affairs. This fee is meant to cover everything from transportation and lodging to the logistics of organizing such a pilgrimage both in Somalia and once they reach the holy land of Saudi Arabia. While officials are making a hullabaloo about their initiatives to offer top-notch services,…

In a significant move, Resolute Mining, an Australian-based company, has agreed to pay a hefty sum of $160 million to the Malian government in a bid to settle an ongoing tax dispute. This decision comes on the heels of a troubling incident where Mali's authorities detained the company’s CEO, Terence Holohan, along with two other staff members during their trip to Bamako for what was supposed to be routine negotiations with the current regime. As tensions rise, the spotlight on foreign mining operations in Mali grows ever…

In a key move for Somalia's financial future, Finance Minister Bihi Iman Egeh inked a pivotal debt relief deal with Denmark's representative, Ambassador Steen Sonne Aderson, in the bustling city of Mogadishu on a vibrant Monday. This latest agreement reflects the positive outcomes from the notable discussions held by the Paris Club back in March 2024, another feather in the cap of Somalia’s ongoing economic reform crusade. The ministry enthusiastically declared, "The national reform efforts and debt forgiveness successes…

Somalia's President, Hassan Sheikh Mohamud, gathered with Germany's Chancellor, Olaf Scholz, in Berlin from November 5-6, 2024. The photo credits: Hannes P. Albert / picture alliance. Recently, Germany and Somalia unveiled a new agreement, sparking varied reactions and opinions. Historically, similar attempts to repatriate migrants have often faced challenges and shown limited success, as noted by several experts. On November 6, after their meeting in Berlin, Scholz and Mohamud declared their intention to return more…