economic

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…

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…

The African Regional Organisation of the International Trade Union Confederation has sounded the alarm over a widening wealth gap across the continent, warning that economic gains are increasingly captured by a small elite while large numbers of workers grapple with rising living costs and shrinking opportunities.

ADDIS ABABA, Ethiopia — Prime Minister Abiy Ahmed on Sunday made clear that Ethiopia’s push for access to the sea remains central to his government’s vision for the country’s future, saying the nation’s landlocked position is a major brake on economic growth and regional stability. Speaking in a wide-ranging interview with the Ethiopian Broadcasting Corporation, Abiy argued that the Horn of Africa cannot enjoy durable peace while Ethiopia remains cut off from the coast. He cast the absence of a sovereign port as a…

President Netumbo Nandi-Ndaitwah used her State of the Nation Address to unveil an ambitious plan to jump-start growth, anchoring it on targeted investment, energy stability, and a renewed push in agriculture. She outlined headline domestic commitments, notably the introduction of fully subsidised tertiary education for qualifying students, supported by broader access to financial aid. Calling the moment “decisive,” the president pressed Parliament to fast-track the petroleum amendment bill, cautioning against the…

Monday April 6, 2026 Mogadishu (AX) — Somalia is on the verge of its first offshore oil drilling campaign, a move that one senior government official said Sunday carries major economic and geopolitical implications as a Turkish drillship prepares to enter the country’s territorial waters. The vessel, Çağrı Bey, is due to arrive in Somalia on April 10, setting the stage for the country’s inaugural offshore drilling operation and a landmark moment for its energy industry. State Minister for Foreign Affairs Ali Omar said the…

The Conversation Africa reached out to five academic experts from Nigeria, South Africa, Senegal, Kenya, and Ethiopia to explore the pressing issue: Is the recent surge in oil prices negatively impacting your nation's economy? Across the board, their responses echoed a shared sentiment...

Gas prices, that unforgiving economic billboard on every American street corner, have turned against the White House. Two weeks after President Donald Trump touted falling costs at the pump in his State of the Union address, the national average climbed to $3.60 per gallon — up 23% in a month — and his approval rating on the economy hit a new low. For a presidency built on the promise of putting more money in people’s pockets, the glow from those red digits is politically scorching. Few in Washington understand the power of…

Djibouti (AX) — The presidents of Djibouti and Somalia and the prime minister of Ethiopia met Wednesday in Djibouti City for a high-level trilateral summit, underscoring a push for tighter regional security coordination, deeper economic integration and united diplomacy across the Horn of Africa. Djibouti President Ismail Omar Guelleh hosted Ethiopian Prime Minister Abiy Ahmed and Somali President Hassan Sheikh Mohamud for talks at his private residence in Haramuus during an iftar dinner. Officials said the leaders reviewed…

Horn of Africa leaders warn of economic impact from Middle East conflict DJIBOUTI, March 12 — Leaders of Somalia, Ethiopia and Djibouti warned that the ongoing Middle East conflict could spill into the Horn of Africa’s economies and stability after holding trilateral talks in Djibouti on Wednesday. Djibouti’s President Ismaïl Omar Guelleh hosted Somalia’s President Hassan Sheikh Mohamud and Ethiopia’s Prime Minister Abiy Ahmed for discussions centered on regional security and the potential economic fallout as global oil…