• Bassirou Diomaye Faye denounces credit rating agencies’ methodologies as ill-suited to African contexts.• Senegal urges reforms to enable fairer financing terms for low- and middle-income countries.• Launch of an African sovereign rating agency planned for September 2025. In Seville, Senegalese President Bassirou Diomaye Faye denounced the methodologies of international credit rating...

• Modi’s African tour marks first visit by an Indian head of government to Ghana in 30 years.• These visits aim to boost economic, energy, defense, and strategic ties with Ghana and Namibia.• India seeks to deepen engagement with ECOWAS and the African Union. Indian Prime Minister Shri Narendra Modi will visit Ghana from July 2 to 3 and Namibia on July 9 as part of his African diplomatic...

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to boost trade, security, and technology cooperation.• Agreement targets doubling bilateral trade volume by 2030, from £1.8 billion in 2024.• UK commits $1.7 billion to support Kenya’s priority development sectors. On an official visit to the United Kingdom, Kenyan President William Ruto...

Kenya exports far more tea by volume than China and Sri Lanka but earns less revenue. Heavy reliance on bulk sales, a narrow product range, and limited market diversity hinder value capture. Recent reforms aim to reposition Kenyan tea on the global market. Since the start of 2025, Kenya has embarked on reforms in its tea sector aimed at boosting its competitiveness on the global...

(AfDB)-The Board of Directors of the African Development Bank Group has approved a $474.6 million loan for South Africa's Infrastructure Governance and Green Growth Programme (IGGGP). This financing marks a significant milestone in the country’s transition toward a sustainable, low-carbon economy. This IGGGP is the second phase of the Bank's strategic support for South Africa's Just...

UK, Kenya, and Singapore launch coalition to restore trust in voluntary carbon markets. Market value plummeted by over 70% since 2021 amid greenwashing scandals and poor-quality credits. Coalition aims to set unified rules and enhance transparency ahead of COP30 The voluntary carbon market is facing a profound crisis in 2025, marked by questionable credits, greenwashing...

New card enables African payments without using US or European networks Aims to lower costs, protect financial data, and boost intra-African trade Rollout follows strong growth of PAPSS system, now active in 16 countries Afreximbank unveiled its new Papsscard system on June 30, introducing a pan-African payment card designed to simplify money transfers and payments across African...

Libya signed a deal with TPAO to restart offshore exploration across four maritime zones The NOC is marketing 22 blocks and shifting to more flexible contracts to attract investors Goal is to boost oil output to 2 million b/d, depending on seismic results and investor confidence Libya is charting a new course in its energy strategy, breathing fresh life into offshore oil...

Congo launched a 30,000-ton oil plant with Eni to supply Italy’s biofuel production. The project will support 80,000 hectares of local crop development and livestock feed. Congo remains a raw material supplier, with processing done abroad. Denis Sassou Nguesso, the President of the Republic of Congo, on June 28, officially inaugurated a new soybean and sunflower oil extraction...

West African Resources began gold production early at Burkina Faso’s Kiaka mine, set to yield 234,000 oz/year. The project aims to reverse declining national output, forecast to rise to 65 tonnes by 2027. Other mines, including Bomboré and a new Nordgold site, will also boost production. West African Resources (WAF) has poured the first gold bar at its new Kiaka gold mine in...