Authorities in the Central African Republic adopted the Bitcoin cryptocurrency as an official currency on Wednesday, Reuters reported, citing the presidency. The country then becomes the first in Africa and only the second in the world to do so. Despite rich reserves of gold and diamonds, Central African Republic is …
Read More »Tesla boss Elon Musk becomes new owner of Twitter
Tesla Chief Executive Officer, Elon Musk, becomes the new owner of Twitter after buying the social network for around 44 billion dollars. The billionaire has concluded the agreement with the social network on Monday, April 25. “Free speech is the foundation of a functioning democracy, and Twitter is the digital …
Read More »DR Congo: fuel shortage and long queues in Kinshasa
Long queues have been witnessed at petrol station in the Democratic Republic of Congo’s capital, Kinshasa, as the city struggles with fuel shortages, the BBC reports. Fuel prices have not changed, but only limited amounts are being sold per day. The shortage started to bite on Monday although the authorities …
Read More »Ghana: President Akufo-Addo justifies e-levy and pledges restoration of economy
In an interview with the BBC, Ghanaian President Nana Akufo-Addo justified the e-levy bill passed by parliament by saying it was aimed at taxing the industry and not the poor. Parliament in Ghana on March 29, 2022, approved the e-levy bill, after the minority staged a walkout. President Akufo-Addo said …
Read More »Rwanda: fuel price increase due to wartime supply problems from Ukraine
The prices of petrol and diesel at the pump increased in Rwanda on Monday, amid instability in the global oil market, Reuters agency reported, citing utility regulator. According to the regulator, the fuel price increase is due to Russia’s invasion of Ukraine. “We had seen these expected increases based on …
Read More »Nigeria: Dangote to complete oil refinery in fourth quarter
The Dangote oil refinery under construction in Nigeria is expected to start production by the fourth quarter of 2022, group director Devakumar Edwin said on Sunday. “75% hydraulic testing … as well as 70% of electrical cable fitting have been completed preparatory to the completion of the refinery in the …
Read More »Kenya: cities affected by major fuel shortages
Several towns in Kenya are suffering from fuel shortages and some petrol stations in the capital, Nairobi, are turning away motorists after running out of fuel, local media reported. Reports say the crisis may have been triggered by reduced imports by big oil marketing companies – who are wary that …
Read More »Nigeria: US to build $537m consulate in Lagos
The United States announced the building of a consulate in the Nigerian megacity Lagos, the country’s commercial capital, as Washington strengthens economic and diplomatic relations with Africa’s most populous country, Reuters agency reports. The consulate will be worth $537 million. The U.S. is among the largest foreign investors and donors …
Read More »Egyptian delegation to visit India to discuss wheat imports
An Egyptian delegation will travel to India the first week of April to facilitate wheat imports as part of efforts to secure supplies and alleviate shortages at one of the world’s largest importers of the staple, Reuters reports, citing Indian government sources. Egypt, often the world’s biggest wheat importer, is …
Read More »Ghana: parliament approves e-levy bill
The majority of lawmakers in Ghana’s parliament approved a controversial electronic direct debit bill, which includes taxes on mobile money payments. It has been fiercely opposed by the opposition since it was proposed in November last year, delaying the passage of the national budget. The Minority in Parliament walked out …
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