Cairo, Egypt — Africa’s multilateral lender, African Export-Import Bank, has approved a $10 billion emergency facility to shield African and Caribbean economies from the fallout of escalating tensions in the Gulf, as policymakers race to contain a fresh wave of global economic disruption. The lender’s board signed off on the Gulf Crisis Response Programme (GCRP),…
Kampala — The Africa Supply Chain Confederation says the continent is bracing for rising fuel and food prices following the escalating disruptions in the Strait of Hormuz. This critical global oil transit route has been partially blocked due to the war in Iran. Ronald Mlalazi, the Confederation’s President, says the war involving Iran has moved…
The war involving Iran is pushing fuel prices higher across Africa, forcing governments to take emergency measures as supply tightens and costs rise, according to a Bloomberg report. Several countries have moved to cushion the impact. Namibia is cutting fuel levies, while Kenya plans to use petroleum taxes to cap prices. In Egypt, authorities imposed…
The government said on Tuesday that it would temporarily reduce its general fuel levy by R3/l for one month to offset the impact of the Iran war on domestic fuel prices. However, the move was still not enough to prevent petrol and diesel prices surging on Wednesday, with diesel set to cost up to R7.51/l…
An oil tanker unloads crude oil at a terminal at the port in Qingdao, in China’s eastern Shandong province on March 11, 2026. – | Afp | Getty Images Chinese industrial firms saw their profits surge in the first two months of this year as officials pressed ahead with efforts to contain the fallout from…
Rabat, Morocco — Morocco have been declared the winners of the 2025 Africa Cup of Nations after the Confederation of African Football (Caf) overturned the result of the final following Senegal’s controversial walk-off. Senegal beat Morocco 1-0 in the final on 18 January in a match which was overshadowed when the Senegalese players refused to…
Share markets nosedived in Asia on Monday as the inflationary jolt from surging oil prices threatened to raise living costs and interest rates across the globe, while investors desperate for liquidity fled to the US dollar. Brent crude soared 27% to US$117.58/barrel, the biggest daily gain since at least 1988, which came on top of…
Brent crude jumped 10% to about US$80/barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100 after US and Israeli strikes on Iran plunged the Middle East into a new war. “While the military attacks are themselves supportive for oil prices, the key factor here…
South African technology retailers are warning consumers and businesses to brace for further price hikes on key computer components as a global shortage driven by AI demand squeezes supply of memory chips, solid-state drives and graphics cards. Three of the country’s online retailers – Evetech, Dreamware Technology and Tech.co.za – have told TechCentral that the…
Team USA’s Jack Hughes may have netted the game-winner against Canada, but a photographer captured an indelible moment of her own — an iconic photo of his gap-toothed grin after securing the first U.S. men’s hockey Olympic gold medal since 1980. “I just was kind of just doing my job. It wasn’t until maybe well…
