Dangote Moves to Build East Africa’s First Mega Oil Refinery in Tanzania
Africa’s richest businessman signals readiness to back a major oil refinery in Tanzania, as regional leaders push for energy independence and reduced reliance on imports.
Business & Finance
Coverage of financial markets, economic policy, business activity, and trends affecting local and global economies.
Kenya Seeks Emergency Funding from World Bank Amid Impact of Iran War
Kenya has sought emergency funding from the World Bank as the economic shock from the Iran conflict drives fuel price fears, inflation, and rising living costs.
New Forbes list: Africa’s top 10 billionaires and how they made their fortunes
The latest Forbes ranking of Africa’s billionaires reveals the top 10 richest individuals in 2026, with industrial sectors dominating the sources of their growing wealth.
Bank of Tanzania (BoT) Raises 7-Day Money Market Rate to 6.09%, Aiming to Stabilize Shilling
the BoT just released its latest money market report. They’ve moved the 7-day interest rate to 6.09% to help stabilize the TShilling against the dollar. It’s a technical move, but it affects everything from your bank loans to the price of imported goods in the shops today.
Trump and Netanyahu Agree on “Maximum Pressure” to Cut Iran Oil Sales
U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu agreed to step up economic pressure on Iran by targeting the country’s oil exports, especially to China, as part of a “maximum pressure” approach.
African Infrastructure Finance Facility (AIF) Launched at the 39th African Union Summit
A new flagship platform was unveiled this morning to mobilize long-term capital for cross-border projects aligned with Agenda 2063.
World Bank Approves $245 Million to Help 2.3 Million in Himachal Pradesh Build Climate-Resilient Infrastructure
The World Bank has approved new financing to help 2.3 million people in Himachal Pradesh, India, build infrastructure resilient to extreme weather. The project focuses on "community-owned" solutions to survive the increasingly volatile climate in the Himalayas.
Heineken Announces Up to 6,000 Job Cuts as Beer Sales Slide
The world’s second-largest brewer, Heineken, announced it would cut up to 6,000 roles over the next two years. The company is facing significant headwinds as global beer sales volume continues to slide amid changing consumer habits.
Botswana Shifts Mining Strategy as Diamond Market Slumps, Eyes Critical Minerals
Facing a sharp downturn in the global diamond market, Botswana plans to survey roughly 70 percent of its unexplored land for critical minerals, Mines Minister Bogolo Joy Kenewendo said this week.
EU Parliament Backs Digital Euro in Strasbourg Vote
European Union lawmakers in a Strasbourg sitting on 10 February 2026 backed plans for a digital euro by approving key amendments supporting the central bank digital currency’s development and strengthening the bloc’s monetary sovereignty.
