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Intelligence for the New World Economy

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Intelligence for the New World Economy
Semafor World Economy

Africa

Ecobank agrees to join Chinese payment platform

The move follows increasing demand from African businesses to settle deals using China’s currency.
People walk outside the closed Ecobank branch.
Stringer/Reuters

Mercenaries suffer losses in DR Congo

A battlefield clash highlights the role of US private security contractor Erik Prince as his country seeks greater access to minerals.
Blackwater founder Erik Prince.
Blackwater founder Erik Prince. Santiago Arcos/Reuters.

OPay readies $4B New York IPO

The fintech firm has seen its lending business overtake payments as its revenue more than doubled in the first half of the year.
A woman uses her mobile phone as she travels in the Blue Line Rail’s train at Marina Station in Lagos, Nigeria.
Marvellous Durowaiye/Reuters

Tanzania seeks investment to tackle youth job pressure

Efforts to partner with private companies are part of a bid to create jobs, said the country’s prime minister.
Tanzania’s Prime Minister Mwigulu Nchemba.
Stringer/Reuters

Dangote’s Kenya refinery triggers political battle

President William Ruto lauds the benefits of this huge investment but opponents see it as part of a pattern of opaque deals.
Kenya’s President William Ruto and President and Aliko Dangote.
Monicah Mwangi/Reuters

AI’s uncertain opportunity for Africa

The absence of African languages from large language models has become a major concern for the continent’s policymakers and tech leaders.
Signvrse data scientist Anthony Githinji works on an avatar, part of an AI-powered sign language translation technology designed to bridge communication gaps for deaf people, in Nairobi, Kenya.
Monicah Mwangi/Reuters

Rwanda on track to host F1 Grand Prix

It would mark the first Grand Prix to be held in Africa in more than 30 years and boost government efforts to raise the country’s profile.

Nigeria’s fuel discount reignites subsidy debate

High energy prices are among the key campaign issues ahead of January’s presidential election.

Zambia agrees health deal with US after resolving dispute

Africa’s second largest copper producer got better terms than its neighbors, and still has a minerals deal to settle with Washington.

The fight to uncover the Nigerian president’s FBI files

President Tinubu has enlisted US lawyers to keep records from a 1990s Chicago drug probe sealed, but a lone California activist has been a thorn in his side.

Ethiopia renews push for Red sea access

After being sworn in for a second full term, Prime Minister Abiy Ahmed said his government would work diligently to ensure Ethiopia had “an outlet to the sea.”

South Africa under pressure to provide $600M fuel relief

The Iran war drove petrol prices to record highs in the continent’s biggest economy.

DR Congo uncovers $20B in payments to ineligible mining suppliers

The country is courting new mining investment and seeks to ensure that Congolese partners have a genuine stake in the businesses supplying its mines.

Nigeria’s $8B oil security costs spark controversy

State oil company NNPC said it incurred the cost to protect oil facilities.

Africa launches credit rating agency

African Union’s new rating agency promises to add a fresh voice in a market dominated by the Big Three credit rating agencies.

Bridging Africa’s data gap

For decades, a lack of data has held back economic development in countries across Africa.

Solar market set for Africa boom, says report

Sub-Saharan Africa’s off-grid solar market is due to expand by 450% by 2035, say a.

Sahel states launch Russia-backed TV station

Tafouk TV signed a cooperation agreement with the parent company of Moscow’s broadcaster RT to jointly cover events, reports RFI.