Category: World

The East African Crude Oil Pipeline , stretching 1,443 kilometres from Uganda to the Tanzanian port of Tanga, has passed the 60 percent completion mark, marking a significant step forward in one of Africa’s largest infrastructure projects. This progress highlights the accelerating momentum in the development of critical energy infrastructure in the East African region, with implications for the economies and geopolitics of multiple countries.The pipeline, designed to transport up to 216,000 barrels of crude oil per day from the

African countries face growing challenges in accessing international finance as global economic uncertainty and tightening monetary policies restrict foreign capital flows. Moody’s Investors Service has highlighted the urgent need for these nations to develop robust local debt markets denominated in their own currencies to mitigate risks associated with reliance on external funding.As global financial conditions tighten, foreign investors have become more cautious about exposure to emerging markets, including many African economies. This shift has led to a decline in capital

The Alliance of Sahel States has taken a decisive legal step by establishing a regional criminal court aimed at addressing terrorism, violent extremism, and human rights violations within the Sahel region. This initiative, agreed upon at a recent interministerial meeting of justice ministers from Burkina Faso, Mali, and Niger, signals a strengthened commitment to unified judicial responses against complex security and governance challenges plaguing the region.The new court is designed to prosecute individuals responsible for terrorist acts and gross

Google Wallet users in the United States will no longer be able to use PayPal as a linked payment method starting 13 June 2025. The digital wallet platform will automatically remove all connected PayPal accounts, marking the end of a partnership that began in 2017. This change follows Google's earlier decision on 11 April to halt the addition of new PayPal accounts to Wallet.The discontinuation affects only U.S. users; PayPal integration with Google Wallet will remain functional in Germany. Users

Ethiopian Airlines is evaluating the procurement of 20 to 30 regional or small narrowbody jets to enhance its domestic operations and replace ageing aircraft, according to Chief Executive Officer Mesfin Tasew Bekele. The airline is considering three aircraft models: Embraer's E-2 series, Airbus's A220, and Boeing's 737 MAX 7.The final number of aircraft to be ordered will depend on the selected model. The 737 MAX 7, which offers a larger seating capacity, is still awaiting certification, posing a potential challenge

Karol Nawrocki, a conservative historian with nationalist leanings, has narrowly secured the presidency of Poland, capturing 50.89% of the vote against liberal Warsaw Mayor Rafał Trzaskowski's 49.11%. The outcome, confirmed by the National Electoral Commission, reflects a deeply divided electorate and poses significant challenges to Prime Minister Donald Tusk's centrist, pro-European government.At 42, Nawrocki is set to assume office on 6 August, succeeding Andrzej Duda. Despite lacking prior elected experience, Nawrocki's campaign resonated with voters through its emphasis on national

The International Air Transport Association has confirmed that its 82nd Annual General Meeting will convene in Rio de Janeiro, Brazil, in June 2026, with LATAM Airlines Group serving as the host. This marks the first time in over two decades that the global aviation summit returns to South America, highlighting the region's growing prominence in the industry.Willie Walsh, IATA's Director General, expressed enthusiasm about the event's location, stating, "We are excited to accept LATAM’s offer to host IATA’s

A community-led dialogue in Soweto has intensified calls for a people-first approach to South Africa’s energy transition, as environmental activists and residents urge the government to prioritise frontline communities in climate policy decisions.Held at the Soweto Career Centre on 27 May to mark Africa Day, the “Scamtho” event—organised by Earthlife Africa Johannesburg—brought together over 100 participants from local organisations. The gathering served as a platform for residents to voice concerns about the environmental and health impacts of fossil fuel dependency

Zimbabwe’s ambitious land reform initiative, aimed at issuing title deeds to farmers, has come under intense parliamentary scrutiny, with legislators questioning the legal and financial viability of the new tenure documents. During a heated session in the National Assembly, Lands and Agriculture Minister Anxious Masuka faced a barrage of inquiries concerning the bankability and constitutional grounding of the title deeds being distributed to A1 and A2 farmers.Minister Masuka defended the government's decision, stating that the issuance of title deeds is

Ghana's gold production is projected to reach approximately 5.1 million ounces in 2025, marking a 6.25% increase from the previous year's record of 4.8 million ounces. This forecast, released by the Chamber of Mines, underscores the nation's sustained position as Africa's leading gold producer.The anticipated growth is attributed to heightened activity in both artisanal mining and the commencement of large-scale operations. Notably, Newmont's Ahafo South Mine and Shandong Gold's Namdini Mine are expected to contribute significantly to the uptick in

A sweeping crackdown on international students under President Donald Trump's administration has triggered a global realignment in higher education, as universities across Europe and Asia move swiftly to attract displaced talent and research funding.The United States, long considered the premier destination for international scholars, is witnessing a sharp decline in its appeal. A survey by the Keystone Education Group indicates that 42% of prospective international students are now unlikely to consider the US for higher studies, citing visa restrictions, safety

Morgan Stanley has firmly denied accusations from the Dutch Public Prosecution Service alleging the financial giant evaded tax on dividends worth nearly $1 billion more than ten years ago. The dispute centres on complex tax structures employed by the bank that Dutch authorities contend were designed to avoid paying the appropriate tax on substantial dividend income.Dutch prosecutors assert that the investment bank engaged in schemes dating back to the early 2010s to shelter dividend earnings from taxation in the Netherlands.

Moscow and its surrounding regions experienced one of the most extensive aerial assaults since the onset of the conflict, as Russia's Defence Ministry reported intercepting 337 Ukrainian drones overnight. The attack resulted in at least three fatalities and significant disruptions across multiple sectors.Russian authorities confirmed that 91 drones were downed over the Moscow region, with 74 of these intercepted as they approached the capital. The remaining drones targeted areas including Kursk, Bryansk, Ryazan, and Nizhny Novgorod. This marks the largest

Dr Akinwumi Adesina, nearing the conclusion of his decade-long presidency at the African Development Bank , has called upon his successor to prioritise Africa's financial sovereignty and ensure the continent's interests are robustly defended on the global stage. This appeal comes as the AfDB prepares to elect a new leader during its annual meeting in Abidjan, Côte d’Ivoire, on 29 May.The incoming president will assume office amid significant challenges, notably the proposed $555 million reduction in funding from the United

The Walvis Bay municipal council has approved a N$1.3 billion budget for the 2025/2026 financial year, focusing on infrastructure development, housing, and service delivery improvements. Management committee chairperson Richard Hoaeb presented the budget during a special council meeting, outlining allocations aimed at addressing the town's pressing needs.A significant portion of the budget, N$887 million, is earmarked for capital projects extending beyond a single financial year. For the upcoming year, N$461 million is allocated, with the remaining N$426 million planned for

Over 6,000 delegates from 81 countries convened in Abidjan on Monday as the African Development Bank commenced its 2025 Annual Meetings, focusing on strategies to harness Africa's capital for sustainable development. The five-day event, held at the Sofitel Abidjan Hotel Ivoire, is set to culminate in the election of a new president to succeed Dr. Akinwumi Adesina, whose decade-long tenure concludes in September.The summit's theme, "Making Africa's Capital Work Better for Africa's Development," underscores the continent's pursuit of self-reliance

Boeing has reached a tentative agreement with the U.S. Department of Justice to avoid criminal prosecution over two fatal 737 Max crashes that claimed 346 lives in 2018 and 2019. The deal, pending court approval, requires Boeing to pay $444.5 million to victims' families and invest over $455 million in safety and compliance improvements. Additionally, the company will pay a $243.6 million fine, matching a previous penalty from a 2021 settlement.Under the agreement, Boeing will plead guilty to a

A leading candidate for the presidency of the African Development Bank has outlined a strategy urging African nations to mobilise up to $4.5 trillion in domestic private capital to drive the continent’s development agenda, aiming to reduce dependence on expensive international debt. This vision signals a shift towards leveraging Africa’s own financial resources to fund infrastructure, healthcare, education, and energy projects critical for sustainable growth.The candidate, whose campaign emphasises financial innovation and regional collaboration, argues that Africa’s private sector

The African Development Bank is convening in Abidjan, Côte d'Ivoire, this week to elect a new president, as the institution confronts significant financial pressures following proposed reductions in U.S. contributions.The U.S. government's plan to decrease its support to the AfDB and its African Development Fund by $555 million presents a substantial challenge for the incoming president. The successor to President Akinwumi Adesina, who concludes his tenure in September after serving two terms, will need to navigate this financial shortfall.

Donald Trump's net worth has surged to an estimated $6.1 billion, marking a significant increase from previous valuations. This financial ascent is largely attributed to his stakes in Trump Media & Technology Group and the $TRUMP cryptocurrency, ventures that have drawn scrutiny over their speculative nature and potential conflicts of interest.Trump Media & Technology Group, the parent company of Truth Social, has achieved a valuation of approximately $2.6 billion. Despite reporting minimal revenue and substantial losses, the company's stock has

Sebastião Salgado, the Brazilian photographer whose haunting black-and-white images chronicled the human condition and environmental fragility, died on 23 May 2025 in Paris at the age of 81. His death was attributed to leukaemia, a condition linked to malaria he contracted during a 2010 assignment in Indonesia.Born on 8 February 1944 in Aimorés, Minas Gerais, Salgado initially pursued a career in economics, earning a master’s degree from the University of São Paulo. His trajectory shifted in the early 1970s when,

The African Development Bank has successfully issued a €1 billion five-year social bond, maturing in May 2030, with a fixed annual coupon of 2.500%. This benchmark transaction, aligned with the Bank's Sustainable Bond Framework, aims to finance projects that promote inclusive growth and social development across its regional member countries.The issuance attracted robust investor interest, with the order book exceeding €1.5 billion, reflecting strong demand from a diverse investor base. The bond was priced at a spread of mid-swaps