Business

Somalia is normally a top exporter of livestock to the Middle East, especially during the Muslim holiday of Eid al-Adha. But a record drought in the Horn of Africa has wiped out millions of livestock, leaving Somali livestock farmers struggling — some ...

NAIROBI— African airlines are expected to record a $4.1 billion loss this year on the back of expensive fuel that is eroding the gains made by a recovering business.Africa Airlines Association (AFRAA) says expensive jet fuel and other expenses involved...

BANJUI— Cryptocurrencies are the solution to tackling financial exclusion in the Central African Republic, its President Faustin-Archange Touadera said, citing the cost of opening bank accounts.“The alternative to cash is cryptocurrency,” Touadera said...

KIGALI— The newly-expanded Commonwealth made broad commitments on Saturday to address climate change and boost trade, concluding a summit aimed at shoring up the relevance of a group that evolved from the British empire.The club, whose 56 members range...

Botswana is hosting an anti-corruption conference (June 13-14) led by the African Union and the International Monetary Fund. The IMF said the COVID pandemic has underscored the need for good governance.IMF deputy managing director Antoinette Sayeh said...

Africa risks sliding into stagflation – a cycle of slow growth and high inflation – as it battles the lingering effects of the Covid pandemic and rising fuel and food prices caused by the Ukraine conflict, the African Development Bank (AfDB) said.Despi...

According to the latest African Economic Outlook report by the African Development Bank, Russia’s invasion of Ukraine and lingering effects of the COVID-19 pandemic pose huge challenges to the continent.The bank’s president, Akinwumi Adesina, said at t...

ABIDJAN— The African Development Bank (AfDB) Group’s board of directors announced that it approved a $1.5 billion facility to help African countries avert a looming food crisis in the continent.In a statement, the bank said with the disruption of food ...