South African Official News

NAIROBI - In 2024, global investments in renewable energy and nuclear power are projected to reach $2 billion, with Africa receiving a mere $40 billion of this total. According to Africa News Agency, this allocation underlines the minimal financial support directed towards the continent, despite housing seven of the world's…

KIGALI — In a recent interview at the eLearning Africa conference, Rogers Sithole, founder of OneConnect, shared insights on the pivotal role of e-learning in shaping educational outcomes across Africa. Sithole's company has been actively promoting the use of technology to enhance education on the continent since its inception in…

ADDIS ABABA - Ethiopia has emerged as Africa's fifth-largest economy, boasting a Gross Domestic Product (GDP) of $205.1 billion, positioning it 57th on a global scale. According to Africa News Agency, Ethiopia now trails only Nigeria, Egypt, South Africa, and Algeria in economic size on the continent. This ranking highlights…

ABIDJAN - The Ivory Coast government plans to invest $8.3 billion by 2030 to enhance its energy supply, aiming to strengthen its position as a regional energy hub. According to Africa News Agency, the investment will focus on diversifying energy sources due to the volatility of gas supplies. The country…

ABUJA - Fidelity Bank Nigeria Plc has secured a $40 million loan from the African Export-Import Bank (Afreximbank) to support its acquisition and recapitalization of Union Bank UK. According to Africa News Agency, this funding aims to bolster African ownership and enhance financial integration between Africa and its diaspora. The…

Pretoria—Statistics South Africa (Stats SA) reported a marginal decrease of 0.1% in the country's gross domestic product (GDP) for the first quarter of 2024. This downturn reflects contractions in several key industries, despite growth in the agricultural sector. According to South African Government News Agency, the manufacturing industry experienced a…

Pretoria — Consumers across South Africa will see a decrease in fuel prices for all grades this June, providing some financial relief as announced by the Department of Mineral Resources and Energy (DMRE). According to South African Government News Agency, the following price reductions will take effect: Petrol 93 and…

West Africa: The Economic Community of West African States (ECOWAS) and TradeMark Africa have entered into a new agreement aimed at boosting trade and economic integration across the region. The partnership focuses on the advancement of digital technologies, reduction of trade barriers, and promotion of sustainable, environmentally friendly business practices.…

Rwanda: The Rwandan government, through its Minister of Finance and the Central Bank Governor, has forecasted a significant economic growth rate of 6.6% for the year 2024. This rate represents an increase from the previous year's growth of 6.2%. According to Africa News Agency, the growth is expected despite a…

ABIDJAN—The economic growth in Africa is expected to be moderate over the next two years, with projections of 2.1% in 2024 and 2.9% in 2025. According to Africa News Agency, inflation is anticipated to decrease to 6.7% by 2025, while the budget deficit is expected to stabilize at 6%. The…