Multinational gold miner AngloGold Ashanti has announced that it will double its dividend payout ratio following an increase in its profits and reduced debt. A rise in global gold prices is responsible, with the price of the precious metal surging to record highs of above $2,000 an ounce in the beginning of the year due…
Trump’s rhetoric versus Biden’s policies. If ever words could summarize a story. The most powerful country in the world is heading to the polls in an election that pits the incumbent President Donald Trump and former Vice President Joseph Biden, who served under Trump’s predecessor, Barack Obama – the first head of state with African…
After a contested election victory that leading opposition candidate described as a travesty and the United States said was marred by widespread irregularities, Tanzania’s President John Pombe Magufuli has vowed to bury the hatchet and work with his rivals for the good of the country. The once peaceful country that is among a handful in…
Mali’s interim President Bah N’daw has announced that the government will review mining conventions signed with companies by previous administrations. The directive follows recommendations that were issued from the country’s auditor general citing corruption and undervaluing of the country’s interests in the contracts. While Mali is one of Africa’s largest gold producers, it remains one…
The World Meteorological Organization (WMO) has warned that Africa is suffering from the impacts of climate change, and worse is yet to come for the continent’s food supplies, health and economy. According to the U.N. climate agency, temperatures have been rising in Africa at a comparable rate to other continents but the region is exceptionally…
Even before the euphoria in Sudan had settled down following the country’s removal from the U.S. list of state sponsors of terrorism, protests began as citizens came into reckoning with the entirety of the deal. Not only had Sudan agreed to pay $335 million as compensation to the victims of the U.S. Embassy bombings in…
President John Pombe Magufuli is a no nonsense man. That doesn’t need to be said again. Through his no non-sense administration, he has steered what was once a resource rich but sluggish economy to a level where it is challenging the region’s economic powerhouses. Picture this. Before Magufuli was sworn in 2015 to begin his…
Physical fitness and wellness has long been associated with the wealthy class, the elderly or people suffering from lifestyle diseases such as obesity. Statistics show that the level of obesity in Kenya is approaching 50% of the population as at 2018 with the most affected group being women between the ages of 19-49 years. Jackie…
Heightened corruption fears have led South African investigators to begin a widespread probe of the government’s coronavirus spending worth $636.2 million. In a submission to parliament, the Special Investigation Unit (SIU) revealed that the amount they are investigation is more than double a previous figure that was under investigation two months ago. South Africa has…
U.S. president Donald Trump is known for making short outbursts that shock the world. But most people, even his critics, admit that such comments that often sound irrational, threatening, outside the realm of reality, and belonging to a drunk man who’s had seven rounds at the bar, are laced with some deep truths. Especially when…
Seychelles opposition leader Wavel Ramkalawan has won the country’s presidential poll, marking the first time an opposition candidate has won the presidency since 1977. The electoral commission announced that Ramkalawan, a former Anglican priest, garnered 54.9% of the vote while President Danny Faure captured 43.5%. The win was slightly unexpected as Ramkalawan, at his sixth…
Ethiopia has gazette a new law that could see people jailed for up to two years if they deliberately violate restrictions aimed at curbing the spread of COVID-19. The new decree from the attorney general’s office comes amid heightened concern that citizens are becoming lax after a state of emergency was lifted. Alongside the new…
South Africa’s cabinet has approved sweeping policies to lift the domestic ferrochrome industry including through an export tax on chrome ore. While reading the cabinet statement, Minister in the Presidency Jackson Mthembu said, “The interventions include the proposed introduction of the export tax on chrome ore, the usage of energy efficiency technologies on smelters, and…
Botswana’s government has approached the World Bank for budgetary support as the country’s economy suffers from a dip in revenues due to the ongoing COVID-19 pandemic. Botswana’s economy dropped by 24% in the second quarter of 2020, as coronavirus enforced lockdowns at home and across the world slowed down domestic economic activity and limited diamond…
American firm Stripe has purchased Nigerian fintech startup Paystack, as it aims to taps into the fast growing online market in Africa. Bothe companies announced the acquisition, which is believed to be worth $200 million. The figure is reflection of the strength of Nigeria’s and Sub-Saharan Africa’s online market. “The African internet economy is expanding…
Uganda’s Permanent Secretary in the Ministry of Energy Robert Kasande has confirmed that the second extension of bids for the country’s second oil licensing round expired in September without any new expressions of interest received from oil companies. Uganda had invited companies in March to explore five new blocks on offer in the Albertine Graben,…
Former Burundian president Pierre Buyoyoa has been sentenced to life in prison by Burundi’s top court for the murder of another president who defeated him in elections in 1993. The death of Melchior Ndadaye who had defeated Buyoya to become Burundi’s first freely elected president plunged the country into a 10-year civil war that killed…
Sudan’s central bank has transferred the compensation the nation agreed to pay U.S. victims of militant attacks and their families, allowing for the lifting of sanctions. Sudan agreed to make the payment of $335 million, as part of a deal with the United States to get the country removed from its list of state sponsors…
Mastercard Foundation has issued a $20.4 million grant that will be distributed among 65,000 Nigerian farmers as part of a broader plan aimed at revitalizing the agriculture sector from the negative effects of the coronavirus pandemic. The Foundation has teamed up with Alluvial Agriculture in an arrangement that will enable farmers access a farming collective,…
Botswana’s finance minister has revealed that the country’s economy will grow by 7.7% in 2021, from a contraction projection of 8.9% in 2020, on the back of improved sentiment in the global diamond industry. Botswana’s economy dropped by 24% in the second quarter of 2020, as coronavirus enforced lockdowns at home and across the world…