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Hong Kong customs officials have scored a major victory in their efforts to curb the flow of illicit drugs through one of Africa’s fastest growing cocaine transit hubs – Ethiopia. On October 1st, officers discovered around 950 grams of cocaine concealed in the carry-on luggage of a 26-year-old male passenger who had arrived at Hong […]

Argentina plans to request an increase in its scheduled disbursement from the International Monetary Fund (IMF) later this month, following an 18 percent devaluation of the peso on Monday. A senior government official said Argentina will ask the IMF to increase the amount it provides as part of their agreement, though the specific additional amount

The Nigerian currency took a renewed hit this week after revelations that the central bank had significantly understated the country’s actual foreign exchange reserves. The central bank’s long-delayed publication of its financial statements showed effective reserves available to support the naira were billions of dollars lower than previous claims. On August 15, 2023, the naira

Heavy clashes broke out overnight in the Libyan capital of Tripoli, renewing concerns that the fighting could spill over and disrupt the OPEC member’s oil production and exports. Militias from two of the most powerful armed factions – the Special Deterrence Force and the 444 Brigade – battled in several districts on Monday evening into

Zambia has successfully reached a historic deal aimed at tackling its debt crisis, offering a glimmer of hope to the country’s President, Hakainde Hichilema. In 2020, Zambia became the first African nation to default on its debt payments during the Covid pandemic, largely due to loans and high interest rates that hindered the government’s ability

Nigeria’s largest oil refinery officially launched on May 22, 2023, with an objective of fixing the country’s ongoing fuel shortages. Aliko Dangote’s refinery, valued at $19 billion, has the capacity to produce a whopping 650,000 barrels of petroleum products each day. This amount is more than sufficient to meet the demands of the country. President

WhatsApp has announced a new feature that will allow users to edit sent messages. The feature will give users more control over their chats and allow them to correct mistakes or add extra context to their messages. The new feature will allow users to edit messages for up to fifteen minutes after they have been

Zimbabwe’s central bank has utilized nearly 140 kilograms of its gold reserves to back the launch of its new digital currency.  The bank’s first auction of the gold-backed digital tokens received 135 applications worth 14 billion Zimbabwean dollars. The aim is to tackle the high demand for US dollars in Zimbabwe’s economy and the resulting

The International Monetary Fund (IMF) has approved a three billion dollars loan program for Ghana to help the country overcome its worst economic crisis in decades. The three-year program includes an immediate disbursement of 600 million dollars, but will only be successful if Ghana is able to restructure its debt agreements with external creditors in