Petronas to lay off 5,000 staff as part of a major restructuring for future competitiveness African operations not directly addressed, but changes could affect partnerships and timelines Company shifts focus to low-carbon projects amid global energy transition Malaysian oil company Petronas, a key player in Africa’s hydrocarbons sector, will cut around 5,000 jobs—roughly 10% of...

• Benin launches $1.4 billion five-year tourism development plan• Target: 2 million annual visitors and 13.4% GDP share from tourism by 2030• Strategy includes infrastructure, visa reforms, and cultural promotion Benin has approved a $1.4 billion strategic plan to develop its tourism, culture, and arts sectors over the 2025–2029 period. The plan aims to attract two million...

• Benin launches $1.4 billion five-year tourism development plan• Target: 2 million annual visitors and 13.4% GDP share from tourism by 2030• Strategy includes infrastructure, visa reforms, and cultural promotion Benin has approved a $1.4 billion strategic plan to develop its tourism, culture, and arts sectors over the 2025–2029 period. The plan aims to attract two million...

• Ethiopia forecasts 8.9% growth in 2025/2026, up from 8.4% in 2024/2025• Government unveils record $14.16 billion budget, up 31% from prior year• Growth to be driven by IMF-supported reforms and rising investments Ethiopia expects its economy to grow by 8.9% during the 2025/2026 financial year, up from an estimated 8.4% in 2024/2025, according to Finance Minister Ahmed Shide. The...

• Rwandan government to inject new funds into delayed Bugesera Airport project• Allocation included in 2025/2026 budget to help meet new 2027 launch target• Airport aims to handle up to 14 million passengers by 2032 The Rwandan government is preparing to restart construction of Bugesera Airport with fresh funding from the 2025/2026 national budget. The project, located about 25 km south of...

• Zimbabwe will halt lithium concentrate exports in 2027 to boost local processing• Chinese firms are building two lithium sulfate plants to support this shift• Value-added products like lithium carbonate bring far higher export earnings Zimbabwe, the top lithium producer in Africa with 2.4 million tons of concentrate in 2024, plans to stop exporting lithium concentrate from January 2027....

• Nigeria’s $5 billion loan from Saudi Aramco stalls due to falling oil prices• Deal tied to 100,000 barrels per day faces risk amid production constraints• Lenders demand stronger guarantees; Nigeria eyes alternate borrowing routes Nigeria is seeking new options to raise funding for its national budget, including a $5 billion loan agreement with Saudi Aramco, the Saudi...

• Ethiopian Airlines and Etihad form partnership linking Africa with Asia and Australia• Direct flights between Addis Ababa and Abu Dhabi begin July 15 and October 8• Agreement supports Ethiopian's Vision 2035 to grow destinations to 207 Ethiopian Airlines has entered into a code-sharing agreement with Etihad Airways. Announced in June, the partnership aims to enhance air connectivity...

• Diamond sales drop 50%, pushing Botswana into fiscal and employment strain• Debswana to cut 1,000 jobs as government and De Beers launch talent programs• IMF forecasts -0.4% GDP growth in 2025, citing lack of diversification The Botswanan government and De Beers launched on June 10 several national talent development programs. The initiatives, part of a broader partnership signed in...

• Ghana reduces 2024/2025 cocoa forecast to a maximum of 600,000 tons• Structural issues continue to affect output, including disease and climate change• Global cocoa prices remain under pressure, rising to $9,602 per ton in June West Africa remains the center of global cocoa production. With market conditions tight and uncertainty surrounding regional exports, attention is focused on...