By Kenyans A federal agency created by the Canadian government during the tenure of former Prime Minister Justin Trudeau is said to have lost Ksh6.9 billion after investing in a loss-making Kenyan company. According to reporting from the Toronto Sun, FinDev Canada, officially known as the Development Finance Institute, revealed in an internal memo that

Visitors look at Volkswagen cars at the 21st Shanghai International Automobile Industry Exhibition in east China’s Shanghai, May 1, 2025. Photographer Fang Zhe By Xinhua News Agency Since April, a sharp hike in U.S. tariffs on EU-made vehicles has dealt a heavy blow to Europe’s auto industry, causing steep declines in the profits of Germany’s

By The African Exponent Africa’s total economic output crossed $2.8 trillion in 2025, with the top 10 economies accounting for more than 76% of the continent’s GDP. Nigeria, Egypt, and South Africa remain at the forefront, but resource-driven countries like Algeria and Angola saw notable gains due to increased demand for fossil fuels and metals.

A view shows oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. Reuters/Stringer/File Photo By Reuters India will keep purchasing oil from Russia despite U.S. President Donald Trump’s threats of penalties, two Indian government sources told Reuters on Saturday, not wishing to be identified due to the sensitivity of the

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. Photographer Pavel Mikheyev/File Photo By Reuters Oil prices rose on Monday after the United States clinched a trade deal with the European Union and may extend a tariff pause with China,

A parachutist performs during the Republic Day celebrations in Rome, Italy, June 2, 2025. Photographer Alberto Lingria By Xinhua News Agency As a trade deal between the United States and the European Union (EU) remains unresolved, Italy is grappling with dual challenges: a new round of U.S. tariffs that could directly hit its export-reliant economy

By Anadolu Agency The US will impose 30% tariffs on the EU and Mexico starting Aug. 1, President Donald Trump announced on Saturday. In a post on Truth Social, Trump shared separate letters addressed to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum, announcing a 30% tariff on goods bound for

By Anadolu Agency Russian Foreign Minister Sergey Lavrov said Sunday that the BRICS bloc of developing economies seeks to create “a more stable global economic architecture.” Lavrov’s remarks came at the BRICS Summit in Rio de Janeiro, Brazil, according to the Russian Foreign Ministry. Noting that regional organizations like the African Union, the Community of

By Reuters Kenya is planning to privatise some state assets via initial public offerings in order to bring in more private sector investment, President William Ruto said in remarks at the London Stock Exchange on Wednesday. The government plans to start with listing the Kenya Pipeline Company via an IPO on the Nairobi Securities Exchange

By The African Exponent Africa produces nearly 10 million barrels of oil daily, accounting for about 10% of global crude oil production. Nigeria is the largest oil producer on the continent, followed by Angola, Algeria, Libya, and Egypt. While Africa is a net exporter of crude oil, it is also a net importer of petroleum