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Li Qiang, Abiy Ahmed Reaffirm China–Ethiopia Alliance at BRICS Rio Summit

At the Rio BRICS Summit, Ethiopian Prime Minister Abiy Ahmed and Chinese Premier Li Qiang reaffirmed their strategic partnership and committed to stre

At the Rio BRICS Summit, Ethiopian Prime Minister Abiy Ahmed and Chinese Premier Li Qiang reaffirmed their strategic partnership and committed to strengthening multilateral diplomacy, infrastructure, and trade cooperation. Li hailed the 55year diplomatic partnership as an example of ChinaAfrica cooperation and underlined support for the Addis Ababa–Djibouti Railway. Ethiopia, which exported $564 million to China in 2024, compared to $4.3 billion in Chinese exports, was cited as a major beneficiary of Chinas zerotariff policy for African countries. Abiy thanked China for its support and said he hopes to increase industry, tourism, and communications cooperation. Reaffirming their common goal of Global South solidarity, both leaders pledged to improve coordination within BRICS and the UN. Read More..

B2B Tech News | 1 days ago

Ramaphosa Rejects Trump’s 30% Tariff, Cites Inaccurate Trade Data

Calling it a misrepresentation of trade facts, South Africa has rejected U.S. President Trumps proposed 30% tariff on its exports. According to Presid

Calling it a misrepresentation of trade facts, South Africa has rejected U.S. President Trumps proposed 30% tariff on its exports. According to President Cyril Ramaphosa, the average import tax is only 7.6%, and 77% of U.S. goods arrive in South Africa dutyfree. Trumps larger reciprocal trade strategy, which targets 14 nations, includes the tariff, which is scheduled to go into force on August 1. Ramaphosa advised local businesses to expand their export markets and underlined the importance of continuing conversations. He applauded the United States suggestion that negotiations could change the tariff. While preparing for possible economic repercussions, South Africa is nevertheless working towards a fair and advantageous trade relationship, having presented a Framework Deal in May. Read More..

B2B Tech News | 1 days ago

World Bank Approves $1.5B Loan to Reboot South Africa’s Infrastructure and Economy

A $1.5 billion loan has been authorised by the World Bank for South Africa to promote a green energy transition and enhance its transport infrastructu

A $1.5 billion loan has been authorised by the World Bank for South Africa to promote a green energy transition and enhance its transport infrastructure. Due to inefficiencies and blackouts, vital industries including freight trains, ports, and electricity systems have long impeded economic progress. These sectors are the focus of the investment. The loan has advantageous terms that lower debtservicing expenses, such as a threeyear grace period. Amidst high unemployment and weak GDP estimates reduced to 1.4% for 2025, the South African government views this as a step towards inclusive growth and job creation. In line with a larger R1 trillion infrastructure plan, the investment shows the nations determination to combat corruption, enhance essential services, and stabilise its economy. Read More..

B2B Tech News | 15 days ago

Ghana Approves $2.8B Debt Deal With 25 Nations to Unlock IMF Bailout Funds

In order to support its IMF bailout program and stabilise its economy, Ghanas parliament has passed a $2.8 billion debt restructuring agreement with 2

In order to support its IMF bailout program and stabilise its economy, Ghanas parliament has passed a $2.8 billion debt restructuring agreement with 25 creditor countries, including China, France, the United States, and the United Kingdom. The G20 Common Framework agreement postpones debt service payments that were due in December 2022 to December 2026, with repayments taking place in 2039–2023. Ghana has belowmarket borrowing costs thanks to interest rates that were set between 1% and 3%. The agreement comes after Ghana defaulted in 2022 and an IMF bailout of $3 billion was authorised in 2023. The measure was unanimously supported by lawmakers, who hailed it as essential to reestablishing macroeconomic stability. Afreximbank and other commercial creditors are continuing to work with Ghana in order to complete the larger restructuring process. Read More..

B2B Tech News | 15 days ago

Lourenço Urges U.S. to Swap Aid for Investment at U.S.Africa Summit in Luanda

João Lourenço, the president of Angola, called Africa a “credible partner” with abundant resources and human capital, and urged the United State

João Lourenço, the president of Angola, called Africa a “credible partner” with abundant resources and human capital, and urged the United States to switch from traditional aid to private investment at the U.S.Africa Business Summit in Luanda. He underlined the need to replace the "logic of aid" with the "logic of ambition," citing industries such as infrastructure, technology, agribusiness, and renewable energy. Lourenço promoted the African Continental Free Trade Area AfCFTA as an investment magnet and pointed to Angolas 3.5% Q1 GDP as proof of regional momentum. "It is business—not aid—that drives lasting growth," said Troy Fitrell, chief of the U.S. Africa Bureau. The goal of the conference is to strengthen business connections and draw American businesses to Africas changing economic environment. Read More..

B2B Tech News | 16 days ago

U.S.Africa Summit Tackles AGOA Renewal and Deeper Economic Ties in Luanda

As the African Growth and Opportunity Act AGOA approaches its 2025 expiration, policymakers are reevaluating the future of economic relations between

As the African Growth and Opportunity Act AGOA approaches its 2025 expiration, policymakers are reevaluating the future of economic relations between the United States and Africa at the 17th U.S.Africa Business Summit in Luanda, Angola. The Corporate Council on Africa is hosting the summit, which brings together business executives, U.S. officials, and African heads of state to talk about economic cooperation, trade, and investment. Renewing AGOA, increasing US energy, infrastructural, and financial investment, and supporting regional integration initiatives like Angolas Lobito Corridor are important subjects. The African Unions current chair, Angola, is utilising the occasion to highlight its economic reforms and pressure Washington to make longterm trade promises. Read More..

B2B Tech News | 18 days ago

Morocco to Reassess Turkey Trade Deal as Textile Imports Drive $3B Deficit

Moroccos trade deficit has increased significantly to $3 billion, mostly owing to imports of Turkish textiles, and the country is getting ready to rev

Moroccos trade deficit has increased significantly to $3 billion, mostly owing to imports of Turkish textiles, and the country is getting ready to review its 2004 free trade agreement with Turkey. The total trade imbalance reached $12 billion in the first four months of 2025, a 22.8% increase. During his visit to Turkey, Moroccan Trade Minister Omar Hjira will discuss possible alternatives, such as more Turkish investment in Morocco. Moroccan producers continue to rely significantly on Turkish products because of their affordability, superior quality, and consistent delivery, even in the face of past emergency tariffs of up to 90% on Turkish textiles. Experts advise Morocco to diversify its exports, increase its industrial competitiveness, and perhaps reexamine previous free trade agreements in order to attain longterm equilibrium. Read More..

B2B Tech News | 18 days ago

Ethiopia Projects 8.9% GDP Growth for 2025/2026 Amid Debt Challenges

Finance Minister Ahmed Shide has raised the forecast for Ethiopias economys growth from 8.4% to 8.9% in fiscal year 2025–2026. Despite this hope, E

Finance Minister Ahmed Shide has raised the forecast for Ethiopias economys growth from 8.4% to 8.9% in fiscal year 2025–2026. Despite this hope, Ethiopia still has problems with inflation, debt, and currency shortages. The country agreed to stop supporting its currency and undertake a 30% devaluation in exchange for a $3.4 billion rescue from the IMF, which helped to drive inflation to 14.4% in April. For economic stabilisation, the central bank has restricted lending to the private sector and tightened controls on the money supply. Ethiopia must also fulfil its obligations to economic transformation by allowing foreign investment in its banking and telecommunications industries. Read More..

B2B Tech News | 21 days ago

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