China’s President Xi Jinping attends Shanghai Cooperation Organization (SCO) summit in Astana, Kazakhstan July 4, 2024. Photographer Turar Kazangapov/File photo By Reuters China, Tanzania and Zambia signed an initial agreement to rehabilitate a decades-old railway aimed at improving the rail-sea transportation in resource-rich East Africa, Chinese state media said on Wednesday. President Xi Jinping witnessed

Chairman of the Adani Group Gautam Adani By The East African Adani Enterprises has set up a Kenyan subsidiary as it steps up its push to take over the running of Jomo Kenyatta International Airport, amid continued opposition among transport workers to the takeover by the Indian conglomerate. The flagship company of Gautam Adani’s sprawling

Credit Photo Twitter X /Mopti gold mines By The African Exponent Ghana remains the top gold producer in Africa. South Africa continues its long-standing tradition in gold mining. Sudan and Mali are emerging as significant contributors. Burkina Faso and Tanzania are also key players in the gold industry. Africa’s gold production is crucial to the

Ugandan Minister of Energy and Mineral Development Ruth Nankabirwa Ssentamu. Photographer Esa Alexander/File Photo By Reuters Uganda is exploring for oil in two new regions where potential discoveries of crude could increase the East African country’s proven reserves of 6.5 billion barrels, its energy minister said on Wednesday. Commercial quantities of crude oil were discovered

Ousmane Sonko speaks after he was appointed prime minister by Senegal’s newly-elected President Bassirou Diomaye Faye, in Dakar, Senegal April 2, 2024. Photographer Abdou Karim Ndoye/File Photo By Reuters Senegal has set up a commission of legal, tax, and energy sector experts to review its oil and gas contracts and work to rebalance them in

U.S. dollar banknotes are seen in this illustration taken March 10, 2023. Reuters/Dado Ruvic/Illustration/File Photo By Reuters The dollar was soft on Thursday, with the euro perched near an eight-month high after data showed U.S. inflation was slowing, underpinning wagers that the Federal Reserve could lower borrowing costs next month. The yen was steady at

By Reuters Nigeria’s Dangote refinery is in talks with Libya to secure crude for the 650,000 barrels per day (bpd) plant and will also seek Angolan oil, a senior executive said, as it seeks to overcome problems with domestic supplies. The $20 billion refinery, built by Africa’s richest man Aliko Dangote on the outskirts of

Diamonds are displayed during a visit to the De Beers Global Sightholder Sales (GSS) in Gaborone, Botswana November 24, 2015. Reuters/Siphiwe Sibeko/File Photo/File Photo By Reuters The International Monetary Fund (IMF) has slashed Botswana’s 2024 growth forecast to 1% from an earlier April estimate of 3.6% due mainly to lower diamond production, it said in

British pound banknote is displayed on U.S. Dollar banknotes in this illustration taken, February 14, 2022. Photographer Dado Ruvic/Illustration/File Photo By Reuters Sterling strengthened to a four-month high on Thursday after comments from Bank of England policymakers prompted markets to scale back bets of an August rate cut, while the dollar inched lower ahead of

By The East African Kenya has thrown a fresh hurdle on Uganda’s direct fuel import scheme, doubling the bond fee for imported consignments destined for Kampala to $45 million. Uganda’s Energy and Mineral Resources minister Ruth Nankabirwa said Kenya increased the requirement on the size of bond fees at the Vitol Tank Terminal International (VTTI)