THE International Finance Corporation (IFC), the private sector arm of the World Bank Group, has signed a $27 million loan agreement to finance the construction of affordable housing in Cote d’Ivoire. The funding aims to support the government’s ongoing efforts to reduce the housing deficit in the West African nation. The financing deal was formalised on Monday […]
Africa’s urban population is set to double by 2050, soaring from 700 million to 1.4 billion, making it the world’s second-most urbanised continent after Asia, according to a new report released on March 6, 2025. The report, Africa’s Urbanisation Dynamics 2025, warned that without urgent government intervention, rapid urban expansion could overwhelm infrastructure, deepen inequalities, and […]
Harmony Gold’s revenue jumped 19.3% to $2 billion, while net profit soared 33% to $445 million, driven by higher gold prices. Operating free cash flow rose 46% to $577 million, enabling a 54% increase in the interim dividend to $78.57 million. Harmony is advancing its copper strategy, leveraging global assets like Papua New Guinea’s Hidden […]
The value of Iran’s non-oil export to Afghanistan increased by 31 percent during the first ten months of the current Iranian calendar year (March 20, 2024-January 19, 2025), as compared to the same period of time in the past year, the spokesperson for the Trade Development Committee of the House of Industry, Mining, and Trade […]
National Bank says it’s aiming to reach $20 billion in renewable energy lending commitments by 2030 as part of its net-zero emissions push, even as the U.S. government works to unwind supports for the sector. The bank says in its latest climate report that, factoring in amortization and repayments on existing loans, the target translates […]
A Hong Kong-based company has agreed to sell most of its stake in two key ports on the Panama Canal to a group led by US investment firm BlackRock. The sale comes after weeks of complaining by President Donald Trump that the canal is under Chinese control and that the US should take control of […]
President Donald Trump‘s proposed Gold Card visa for the rich could offer a tax incentive that other immigration pathways currently don’t, experts say. The $5 million “Green Card plus,” as Trump and his Commerce Secretary Howard Lutnick touted in the Oval Office last week, would allow holders to avoid paying U.S. tax on their overseas income—an option not currently […]
Nigeria’s real estate sector is gaining significant momentum as reflected in the rebased gross domestic product (GDP) where it emerged as the third largest sector in the Nigerian economy. Valued at $2.14 trillion by the end of 2024, the sector has seen a 7.24 percent growth from the previous year and is projected to reach […]
The Trump administration’s suspension of large parts of the US aid budget and its exit from global climate and health pacts has thrown the world’s development finance institutions into disarray The US government and its branches have been largely absent from the Finance in Common Summit, an annual gathering of public development banks with $23 […]
The U.S. Treasury just gave Chevron Corp. a short 30-day eviction notice from Venezuela, cutting off its ability to pump and sell crude from the sanctioned country. The decision, following Trump’s vow to reverse Biden’s oil concessions to Nicolás Maduro and the cancellation of a sanction waiver just days ago, is a seismic shift that could slam […]