News from African Economy
Stay current with all the latest and breaking news about African Economy, compare headlines and perspectives between news sources on stories happening today. In total, 39 stories have been published about African Economy which Ground News has aggregated in the past 3 months.
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Business · LiberiaMatthew Walley’s eyes sweep over the large forest that has sustained his Indigenous community in Liberia for generations. Even as the morning sun casts a golden hue over the canopy, a sense of unease lingers. Their use of the land is being threatened, and they have organized to resist the possibility of losing their livelihood. In the past year, the Liberian government has agreed to sell about 10% of the West African country’s land — equivalent to 10,931 square kilometers (4,220 square miles) — to Dubai-based company Blue Carbon to preserve forests that might otherwise be logged and used for farming, the primary livelihood for many communities. Blue Carbon, which did not respond to repeated emails and calls seeking comment, plans to make money from this conservation by selling carbon credits to polluters to offset their emissions as they burn fossil fuels. Some experts argue that the model offers little climate benefit, while activists label it “carbon colonialism.”See the Story
A Dubai company’s staggering land deals in Africa raise fears about risks to Indigenous livelihoods
50% Center coverage: 18 sources
Business · ZimbabweZimbabwe’s central bank has launched a new “structured currency” backed by gold, as it seeks to tackle sky-high inflation and stabilise the country’s long-floundering economy.
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Zimbabwe introduces new gold-backed currency to tackle inflation
48% Center coverage: 23 sources
United Nations · JamaicaSupport is building among Africa and Caribbean nations for the creation of an international tribunal on atrocities dating to the transatlantic trade of enslaved people, with the United States backing a U.N. panel at the heart of the effort.See the Story
Slavery tribunal? Africa and Caribbean unite on reparations
50% Right coverage: 8 sources
Middle East Politics · EgyptThe executive board of the International Monetary Fund has confirmed a deal with Egypt to increase its bailout loan from $3 billion to $8 billion. The move is meant to shore up the Arab country's economy which is hit by a shortage of foreign currency and soaring inflation. Commercial banks are now trading the U.S. currency at more than 47 pounds, up from about 31 pounds.See the Story
IMF confirms increasing Egypt's bailout loan to $8 billion
53% Center coverage: 17 sources
Climate Change · GhanaShoppers may get a bitter surprise in their Easter baskets this year. Chocolate eggs and bunnies are more expensive than ever as changing climate patterns eat into global cocoa supplies and the earnings of farmers in West Africa. About three-quarters of the world’s cocoa are produced on cacao trees in Ghana, Ivory Coast, Nigeria and Cameroon. But dusty seasonal winds from the Sahara were severe in recent months, blocking out the sunlight needed for bean pods to grow. The season prior, heavy rainfall spread a rotting disease. With exports from the Ivory Coast, the world’s top producer, down by a third in recent months, the global price of cocoa has risen sharply. Cocoa futures have already doubled this year, trading at a record high of more than $10,000 per metric ton in New York on Tuesday after rising more than 60% the previous year. See the Story
It's a bittersweet Easter for chocolate lovers and African cocoa farmers but big brands see profits
42% Center coverage: 76 sources
Climate Change · SenegalAcross Senegal, women farmers make up 70% of the agricultural workforce. But they have little access to land, education, and finance compared to men. Mariama Sonko is training female farmers from cultures where women are often excluded from ownership of the land they work so closely.See the Story
'Women farmers are invisible': A West African project helps them claim their rights
50% Left coverage: 18 sources
Business · NigeriaOne of two Binance executives detained in Nigeria has escaped custody, while the Nigerian government has filed new tax evasion charges against the global cryptocurrency exchange.
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Binance executive escapes Nigerian custody as authorities file new tax charges
57% Center coverage: 26 sources
