Business – ANN

Ghana Reclaims Control of Damang Gold Mine as Lease with Abosso Goldfields Expires

The Government of Ghana has formally taken over operations of the Damang Gold Mine in the Western Region, following its decision not to renew the 30-year mining lease granted to…

Africa News Now April 18, 2025

ANN Northern Africa

Egypt’s Suez Canal Revenue Plunges Nearly 60% Amid Regional Conflict and Red Sea Attacks

Egypt’s Suez Canal, a critical artery for global maritime trade, saw its revenues plummet by nearly 61% in 2024, with officials attributing the sharp drop to ongoing regional instability and…

Africa News Now April 17, 2025

ANN Northern Africa

Libya Devalues Dinar Amid Soaring Public Debt and Political Division

Libya’s central bank announced a 13.3% devaluation of the national currency on Sunday, setting the official exchange rate at 5.5677 dinars to the US dollar, down from the previous 4.48…

Africa News Now April 7, 2025

ANN West Africa

Nigeria Secures $1.08 Billion World Bank Loan to Strengthen Economy, Education, and Nutrition

Nigeria has secured $1.08 billion in concessional financing from the World Bank to support economic resilience, expand access to education, and improve nutrition for vulnerable communities, the global lender announced.…

Africa News Now April 3, 2025

ANN West Africa

Sahel Alliance Imposes Import Levy to Fund Economic Independence After ECOWAS Exit

Mali, Burkina Faso, and Niger have announced a 0.5% import levy on goods entering their territories, marking a significant step in financing their newly formed economic and military bloc, the…

Africa News Now March 31, 2025

ANN Southern Africa

Bitcoin Meets the Zambezi: How a Remote Zambian Hydro Plant Powers Cryptocurrency Mining

The thundering roar of the Zambezi River echoes through the lush bushland of northern Zambia, where millions of gallons of water crash over ancient rock formations. But amidst the natural…

Africa News Now March 25, 2025

ANN West Africa

NDLEA Arrests Indian National, Seizes Over 180kg of Drugs in Major Crackdown

The National Drug Law Enforcement Agency (NDLEA) has intensified its crackdown on drug trafficking with a series of high-profile arrests and drug seizures across Nigeria. Among those arrested is a…

Africa News Now March 24, 2025

ANN Central Africa Eastern Africa

Major Cybercrime Crackdown: 306 Arrested, 1,842 Devices Seized Across Seven African Nations

In a sweeping international operation against cyber-enabled scams, authorities in seven African nations have arrested 306 suspects and seized 1,842 devices as part of Operation Red Card—a coordinated crackdown on…

Africa News Now March 24, 2025

ANN West Africa

Senegal’s President Bassirou Diomaye Faye Marks One Year in Office, Reflects on Achievements and Challenges

One year after his historic election, Senegalese President Bassirou Diomaye Faye has reflected on his leadership, highlighting both achievements and ongoing challenges. Since assuming office, Faye, alongside Prime Minister Ousmane…

Africa News Now March 24, 2025

ANN Central Africa Eastern Africa

Africa’s Economic Growth Projected at 3.8% in 2025 and 4.1% in 2026, UNECA Report Highlights Key Challenges

Africa’s Gross Domestic Product (GDP) is projected to grow by 3.8% in 2025 and 4.1% in 2026, according to the latest report released by the United Nations Economic Commission for…

Africa News Now March 13, 2025

ANN Southern Africa

South Africa’s Budget Proposal Faces Divisions Over VAT Increase

South Africa's finance minister, Enoch Godongwana, presented the highly anticipated 2025/26 national budget on Wednesday, weeks after its original due date. The budget includes key proposals aimed at boosting the…

Africa News Now March 13, 2025