Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and June 2024. Nonetheless, Sub-Saharan Africa received an estimated US$125 billion in on-chain value during this period, a US$7.5 billion increase compared to last year. Cryptocurrency is undeniably transforming the financial...
Rising food prices shake North Africa as Ukraine war rages
Tunisia, Morocco, and Libya, along with several other Arab countries, import much of their wheat from Ukraine and Russia.
Ukraine war to ‘deeply destabilise’ food supply in Europe, Africa: Macron
“Europe and also Africa will be very deeply destabilised as regards food because of what can’t be planted right now in Ukraine,“ Macron told reporters.
UAE sends 46 tons of food supplies to Malawi
Over the past 10 years, the UAE has reportedly sent relief supplies to Malawi amounting to AED85.3 million ($23.23 million).DP World acquires 100% stake in Imperial
The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access and logistics solutions capability.
North Africa-Europe migrant deaths at sea up 155%: UN
The surge in deaths came alongside evidence of both increased arrivals in at least one key destination and rising interceptions.
Sisi of Egypt praises WHO for vaccine know-how to Africa
Egyptian President Abdel Fattah El-Sisi has praised the World Health Organization for its decision to pick Egypt and five other countries in Africa to manufacture Covid vaccine in the continent to fight off the virus.
WHO picks Egypt and Tunisia to produce Covid vaccine in Africa
Six African countries have been chosen to establish their own mRNA vaccine production, the World Health Organization said Friday, with the continent largely shut out of access to Covid jabs.
EU chief unveils 150-bn-euro investment plan for Africa
The scheme is the first regional plan that seeks to mobilise up to 300 billion euros ($340 billion) for public and private infrastructure around the world by 2027.
IAEA unveils new plan to bolster cancer care
The International Atomic Energy Agency (IAEA) has launched a plan to tackle a chronic shortage of cancer care capacity in many poorer countries, with an initial focus on Africa.Coups, Covid-19 repercussions cloud African Union summit
The two-day summit should discuss how to be more proactive in addressing factors that give rise to coups, including terrorism-related instability and frustration over constitutional revisions that extend leaders' time in power, said Solomon Dersso, founder of the AU-focused Amani Africa think tank.
UAE lifts curbs on travel to 12 African countries
The United Arab Emirates has lifted curbs on travel to twelve African countries for citizens fully vaccinated and who have received a booster dose of the approved COVID-19 vaccines.
Disney takes on OTT platforms with MENA expansion
Netflix currently rules the roost in the Middle East. Therefore, the Disney+ expansion should be a clarion call for regional OTT platforms.Dubai embraces enigma of costliest black diamond
The design of the bloack diamond Enigma is based on the Middle Eastern emblem of the palm — also known as “khamsa,” “hamsa,” or "the five".
Libya oil company chief appeals for state investment
The National Oil Corporation is trying "to maintain a level of production of 1.2 million barrels per day" but hopes for state investment in order to boost output.TAQA Group, EWEC price green bond
The bonds were 1.8 times oversubscribed.World passes 300 million Covid cases as Omicron breaks records
The virus mutant has spurred the world to record 13.5 million cases in the last week alone -- 64 percent higher than the previous seven days -- the global average of deaths dropped three percent. France's public health authority said Friday that the risk of hospitalisation was about 70 percent...
Construction of DP World port in Senegal begins with laying of first stone
President of Senegal Macky Sall on Tuesday laid the foundation stone for the construction of a port that will be built and operated by DP World at Ndayane, about 50-km from the existing port in the capital Dakar. The investment of more than $1.13 billion in two phases to develop...
UAE gateway to GCC and Africa markets, says India’s industry minister
India's Minister for Commerce and Industry Piyush Goyal has said that his country's goal is to become the UAE's number one trading partner. Goyal talked with industry executives and leaders of Export Promotion Councils in Mumbai on Saturday on using available opportunities to widen their global impression by grasping business...
Rossi appointed Acer Mideast VP
Michele Montecchio was appointed as Country Manager for the Middle East.After trade push, Turkey pledges 15m Covid-19 vaccines for Africa
Turkey has invested heavily in developing trade and diplomatic ties with Africa under Recep Tayyip Erdogan since 2003.
Moro Hub breaks ground for largest solar data center in region
The center will offer digital products and services using Fourth Industrial Revolution technologies, such as cloud services, the Internet of Things (IoT) and Artificial Intelligence (AI).
World Bank unveils $93 billion boost for poorest nations
The package includes $23.5 billion of contributions from 48 high- and middle-income countries as well as financing raised in the capital markets and the World Bank's own contributions, according to a statement. "Today's generous commitment by our partners is a critical step toward supporting poor countries in their efforts to...
African migrants fuel recycling in Turkey capital Istanbul
Afghans have joined Kurds, the Laz, Roma and other ethnic minorities and undocumented migrants in doing work others snub. For less than $10 a day, they roam the streets of Istanbul collecting trash — a profession that is illegal in the country, and has led to its practitioners being arrested...Global Business Forum ASEAN ends, records 1,368 participants
A total of 1,368 delegates from 58 countries – including 250 virtual participants – attended the first edition of the Global Business Forum (GBF) ASEAN in Dubai, which concluded today with a total of 180 bilateral business meetings taking place on the sidelines of the event. GBF ASEAN was held...
OPEC Fund extends $80m loan to Afreximbank
The OPEC Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and imports in critical sectors across Africa.
Algeria election another test for president Tebboune
Tebboune has vowed to reform state institutions inherited from Bouteflika, who died in September at the age of 84.
dnata expands to Africa
It has set up operations in Zanzibar with $7m investment.The broken dreams of desperate migrants fleeing Africa for Saudi
Tens of thousands of migrants are stuck in Yemen, unable to pay for a return trip, held hostage by smugglers or detained by local authorities.
Morocco says it rescued 147 African, Asian migrants
In May, around 8,000 North African migrants swam to Spanish from Morocco which resulted diplomatic crisis between these two countries.
Maaden of KSA sets up a fertilizer terminal in Africa
Saudi Arabian Mining Co., has established a fertilizer terminal in the African state of Malawi through its subsidiary, the Meridian Group.Mena students in US are a changing demographic
The factors that draw students to the US include the learning environment, a global perspective, and better employment prospects.Every second, Pfizer, BioNTech, Moderna make $1k profit
The trio is estimated to make pre-tax profits of $34 billion this year: over $1,000 a second, $65,000 a minute, or $93.5 million a day.Hundreds of migrants assisted off coast, says Morocco
Moroccan coast guards have assisted more than 300 migrants in difficulty aboard various craft since Friday.
DP World launches e-commerce site Dubuy in Kenya
Dubuy.com aims to provide Kenya a secure and reliable way for its businesses to grow.Climate change will crush world’s poorest economies, says study
Countries with poor economies will face severe consequences of climate change caused by the rich nations.Colombia starts business forum at Expo 2020
The Matchmaking Forum is one of the most important commercial initiatives of ProColombia, which is being organized at Expo 2020 Dubai as part of the Colombian national strategy to take advantage of Free Trade Agreements and to promote the exports of the country’s companies.Egypt’s Breadfast to expand to Middle East, gets $26M backing
The investors include lead investors Vostok New Ventures and Endure Capital and participating investors JAM Fund (led by Tinder co-founder Justin Mateen), YC Continuity Fund, a large unnamed Saudi-based fund, Shorooq Partners, 4DX Ventures and logistics giant Flexport.
Brazil’s InvestSP joins Global Logistics Passport initiative
InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and logistics.Singapore-based Near acquires minority stake in MEmob+
Near will work with MEmob+ to continue its global expansion with a push into the Middle East and Africa.
Africa needs to revamp transportation for economic development: DP World CEO
Africa offers significant potential for investment and economic partnerships that can create mutual benefits for UAE businesses and their African counterparts, said Sultan Bin Sulayem, CEO of DP World Group. Speaking at a session of the Global Business Forum Africa in Dubai, Bin Sulayem said that for trade links to...
Morocco is Africa’s new automotive manufacturing hub
Morocco’s Automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000 direct jobs.
Egypt and Greece to sign a deal for power interconnection
Egypt and Greece will sign a preliminary deal to build an electricity interconnection between the two countries in Athens on Thursday, Athens-Macedonia news agency (AMNA) reported.DP World and UK’s CDC Group to create Africa investment platform
DP World will contribute its stakes in three existing ports and invest $1 billion over the next few years through an investment platform to be created in partnership with CDC Group (CDC), the UK's development finance institution and impact investor. The platform covers a long-term investment period. CDC is committing...Nobel-winning Gurnah vows to keep talking migration
The novelist won the literature's top award for his unflinching portrayal of their effects on the refugee experience.
Emirates and Qantas extend partnership
Together, the airlines are making millions of reward seats available for frequent flyers to access more than 100 destinations.Egypt eyes $1bn investments as Africa Finance Corporation member
Egypt, the most populous nation in North Africa, has already seen some investments from the AFC.UAE seeks $150bn in foreign investments, eyes stronger trade ties in Asia
The United Arab Emirates is seeking to lure $150 billion in foreign investments as part of a broad nine-year plan to strengthen its trade and economic ties in Asia and Africa.
Africa data centre expansion plan to cover Morocco, Tunisia, Egypt
The project will involve building 10 hyperscale data centres, in 10 countries, over the next two years at a cost of more than US$500m
Husqvarna Construction gets new GM
With this, the company eyes growth in the MEA region.
African mountain forests store more carbon than thought: study
An international team analysed data on carbon stored in trees across 44 highland sites in 12 African countries
