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Economy & Business

Africa economy

Africa Turns Its Back on the Dollar: A Continental Reckoning With Currency Dependency

A quiet but consequential shift is reshaping Africa’s economic relationships: across the continent, governments, central banks, and trading communities are reducing their dependence on the US dollar — not through a dramatic act of rebellion, but through a patient, deliberate diversification of currency reserves and trade settlement mechanisms. The dollar’s dominance in African trade is […]

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Libya Approves First Unified State Budget in Over a Decade

Libya’s internationally recognised government in Tripoli announced on Friday the approval of a unified state budget for the first time in more than thirteen years, marking a significant step toward normalising the war-ravaged nation’s public finances and potentially laying the groundwork for broader national reconciliation. The budget, worth approximately 96 billion Libyan dinars (roughly $19.5

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Trump’s African Deportation Deals: A Costly and Controversial Experiment

Trump’s African Deportation Deals: A Costly and Controversial Experiment The Trump administration’s sweeping programme to deport African nationals deemed to be in the United States illegally has emerged as one of the most contentious geopolitical flashpoints between Washington and the African continent in years. According to a detailed investigation by The Africa Report, the deals

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Libya Rivals Sign Historic US-Brokered Accord for First Unified Budget in 13 Years

A Historic Agreement After Over a Decade of Division Libya’s rival eastern and western legislative bodies have signed a landmark US-mediated agreement to unify public spending across the divided nation — the first consensus on a unified state budget in more than 13 years. The deal, brokered with significant American diplomatic involvement, represents the most

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DRC Raises $1.25 Billion in Landmark First Eurobond Issuance

A Landmark Moment for the Democratic Republic of Congo The Democratic Republic of Congo has successfully raised $1.25 billion through its first eurobond issuance, marking a pivotal moment in the country’s economic recovery and its return to international capital markets after years of financial isolation. This landmark transaction signals renewed investor confidence in one of

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DR Congo Makes Historic Market Debut with $1.25 Billion Eurobond

Kinshasa, Democratic Republic of Congo — In a landmark moment for Central Africa’s largest economy, the Democratic Republic of Congo successfully raised 1.25 billion dollars through its debut international bond sale, marking the country’s first-ever sovereign eurobond issuance. The transaction, completed on April 9, 2026, drew oversubscribed order books from global investors — a strong

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Uganda Gold Boom: How a Country Producing Almost No Gold Became One of Africa Top Exporters

Uganda produces very little gold. And yet gold now accounts for more than half of the country total export earnings, with exports worth billions of dollars annually. The apparent contradiction lies at the heart of one of East Africa most intriguing and opaque economic phenomena. In 2025, Uganda exported approximately 6.4 billion dollars worth of

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South Africa: Phala Phala Scandal Returns as IPID Report Prompts New Impeachment Calls

South Africa President Cyril Ramaphosa is facing a renewed political storm as new revelations from a declassified police watchdog report have reignited calls for his impeachment — nearly four years after the so-called Farmgate scandal first surfaced. The Independent Police Investigative Directorate (IPID) report, published this week after opposition party ActionSA and news outlet News24

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Africa’s AI Startup Revolution: The Continent’s Tech Sector in 2026

Tech startups and innovation — Pixabay (Free to use) Africa’s technology startup ecosystem is entering a pivotal phase in 2026, with artificial intelligence emerging as the defining sector of the continent’s digital transformation. This year’s AfricaTech Award, announced at VivaTech in Paris in late March, highlighted the breadth of innovation emerging from African entrepreneurs who

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