Akinwumi Adesina, President African development bank, speaks during an interview with The Associated Press in Lagos Nigeria, Tuesday , March. 5, 2024. The head of the African Development Bank is calling for an end to loans given in exchange for the continent’s rich supplies of oil or critical minerals used in smartphones and electric car

Banks have opposed a petition seeking to compel them to obtain court orders before selling off any property charged as security for loans. Photo/Shutterstock By Business Daily Africa Kenyan commercial banks have opposed a petition that seeks to compel them to obtain mandatory court orders before selling off any property charged as security for loans

The Minister of Energy and Natural Resources of Turkey, Alparslan Bayraktar and Abdirisaq Omar Mohamed, the Minister of Petroleum and Minerals of Somalia, discussed the energy cooperation between the two countries. Bayraktar received the Minister of Petroleum and Minerals Abdirisaq Omar at his ministry in the capital Ankara. Read: Why is Somalia an unfortunate country?

Credit Photo Reuters/Saudi Arabia’s Crown Prince Mohammed bin Salman By Xinhua News Agency Saudi Arabia announced on Sunday the extension of its voluntary cut of oil production of 1 million barrels per day to support the stability and balance of oil markets, the Saudi Press Agency reported. The reduction was implemented in July 2023 until

President of the European Commission Ursula von der Leyen (left) and President William Ruto at State House ahead of the signing of a new trade agreement in Nairobi on December 18, 2023. Photo/AFP By Business Daily Africa Kenya has inched closer to concluding a preferential trade deal with European Union (EU), preserving a long-term tax-free

Mombasa Port. Photo/Shutterstock By Business Daily Africa Kenya’s imports of machinery, fuel, and raw materials dropped by double-digit rates last year for the first time since the peak of the Covid-19 pandemic-linked shutdowns three years ago, signalling a slowdown in production activities in key sectors such as manufacturing and construction. The value of goods ordered

Uganda’s Finance Minister Matia Kasaija By The East African The Uganda government is struggling to raise money to finance its budget amid high loan rejection rates by commercial banks and offshore investors keeping away from the bond market. The government had hoped that listing its securities on the FTSE Frontier Emerging Markets Index in June

Egyptian Prime Minister Mostafa Madbouly (C) witnesses the signing of an agreement between Egypt and the United Arab Emirates in New Administrative Capital, Egypt, on Feb. 23, 2024. Egypt and the United Arab Emirates (UAE) signed the deal on Friday to build a new city on Egypt’s northern coast, with the aim of boosting tourism,

Labourers carry out surfacing work on a road near the Zambian capital Lusaka November 15, 2013. Photographer Mackson Wasamunu/File Photo By Reuters Zambia’s kwacha is Africa’s best performing currency against the U.S. dollar so far this year after the central bank sharply tightened monetary policy, but analysts said it would strengthen sustainably only if the

File – Credit card options are shown on a store’s door on Nov. 29, 2018 in Philadelphia. Noticeable pockets of Americans are quickly running up their credit card balances and increasing numbers are now falling behind on their debts. (AP Photo/Matt Rourke, File) By The Associated Press While the U.S. economy is broadly healthy, pockets