The port is expected to boost Senegal’s GDP by 3 per cent, increasing trade flows and potentially adding $15 bn in trade value by 2035
The East African nation is seeking to diversify its sources of financing
Through MDR Investments, Prateek Suri is driving a fresh wave of large-scale funding into Africa’s infrastructure and mining sectors
The equipment will be deployed at its terminal projects in Pointe Noire, Republic of the Congo, and Luanda, Angola
Majid Al Futtaim Properties delivered a record performance, driven by the success of UAE-based shopping malls and strong consumer confidence
With a draft of 17.5 metres, the port will be capable of receiving large container vessels, ultimately reducing trade costs in the DRC by 12 per cent
Experts hoped the announcement would galvanise action worldwide, many obstacles remain, including limited mpox vaccine supply, funding and competing disease outbreaks
Eight out of the 14 MENA IPOs in Q2 2024 delivered positive returns by the end of June, with Miahona Company achieving the highest gain of 90.4 per cent
Last year, Gulf countries poured more than $53bn into projects on the continent, a considerably greater sum than the $10bn investment from the US over the same period
One of Egypt’s biggest banking and investment firms has recorded that its net profit after tax and minority interest rose 39 per cent year-on-year
Egypt’s commitment to exchange rate liberalisation combined with budgetary consolidation targets are crucial for boosting international confidence
The devaluation was part of an $8bn financial support agreement that Egypt last week signed with the International Monetary Fund
Moody’s on Thursday affirmed its CAA1 rating but changed its outlook on Egypt to positive citing significant official and bilateral support
As many as 60 per cent of Egypt’s 106 million citizens are estimated to be below or close to the poverty line
The Red Sea tensions have spurred cargo delivery disruptions and soaked up excess vessel capacity, raising global shipping costs
The announcement was made during the International Monetary and Financial Committee Meeting, organised on the sidelines of the WBG-IMF Annual Meetings In Morocco
It was the fourth consecutive month of record highs recorded on the central bank website
Morocco will become only the second African country to host the World Cup after South Africa hosted it in 2010
This is one of the deadliest natural disasters in Libya’s recent history
The storm which has brought catastrophic flooding to Libya is on track to be one of the deadliest on record in North Africa
The September 8 earthquake is the deadliest to hit Morocco in more than 60 years
The death toll has risen to over a 1000 people almost 24 hours since a deadly earthquake struck Morocco
The earthquake on Friday night was centered in the country’s High Atlas mountain range
Africa50 and Masdar will also explore opportunities to collaborate on the implementation of the Alliance for Green Infrastructure in Africa
Rice contributes as much as 60 per cent of total calorie intake for people in parts of Southeast Asia and Africa
The Atlas Lionesses hope to make history as they seek to beat France and reach the quarter-finals
The partnership offers customers additional travel options within the US and increased flying opportunities within Africa
The UAE has become a catalyst for economic progress in Africa
Ons Jabeur is hoping to make history not just for herself as she fights to win her first ever Grand Slam but for the Arab world as well as Africa
The partnership increases Emirates’ footprint to 148 African points