Post: Study: Central Africa, the least indebted region on the continent

According to a study by Afreximbank, East Africa, with countries such as Kenya and Tanzania, is the most indebted, while Central Africa is the least indebted with a debt-to-GDP ratio of 35.4%. West Africa follows in second place, with North Africa and South Africa in third and fourth place respectively. In 2022, defaulted loans in Africa reached a record high of $149.4 billion, a figure not seen in 30 years, exacerbated by the pandemic, the war in Ukraine and interest rate hikes. More than half of African countries are now at high risk or in debt distress.

Source: Africa News Agency

First Simandou Mining Summit Draws Over 1,000 Delegates to Conakry

Conakry:Guinea is hosting the inaugural Simandou Mining Summit in Conakry from November 11 to 14. The event, themed “The Mining Industry A Catalyst for Economic Sovereignty,” is organized by the Simandou Strategic Committee in collaboration with the M…

Biovéa Biomass Power Plant Inaugurated in Ayébo, Ivory Coast

Ayébo:The 46 MW Biovéa Énergie biomass power plant was inaugurated in Ayébo, located in the Aboisso sub-prefecture of the Sud-Comoé region. The inauguration ceremony, held on November 5, was attended by the Minister of Mines, Petroleum and Energy, Mam…

Ethiopia’s GDP Reaches $210.7 Billion Following Rebasing

Addis Ababa:Ethiopia’s Finance Minister, Fitsum Assefa, has announced the results of the GDP rebasing with the Ethiopian fiscal year 2017 (2024/25) as the new base year. The announcement was made in Addis Ababa on November 4.

According to Africa New…