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Africa

AGOA Expires After 25 Years, Sparking Urgent Calls for U.S.–Africa Trade Renewal

The African Growth and Opportunity Act AGOA, a significant economic effort between the United States and Africa, has come to an official conclusion af

The African Growth and Opportunity Act AGOA, a significant economic effort between the United States and Africa, has come to an official conclusion after 25 years. AGOA increased textile, agricultural, and manufacturing exports by giving qualified African nations dutyfree access to U.S. markets. Concerns about job losses and economic upheaval around the continent are raised by its expiration. In order to maintain the pace of commerce and promote development, African leaders are pleading with Washington to either renew or replace the program. The African Continental Free Trade Area AfCFTA calls for Africa to expand intracontinental trade and diversify trade alliances in response to AGOAs expiration. Stakeholders stress the need for inclusive, longterm frameworks that maintain growth and strengthen economic links between the United States and Africa as the country reassesses its trade approach. Read More..

B2B Tech News | 5 days ago         

UDB to Raise $500M for Industrialization, Infrastructure, and SME Growth

In order to finance its new fouryear strategic plan that emphasises industrialisation, infrastructure, and SME growth, Uganda Development Bank UDB int

In order to finance its new fouryear strategic plan that emphasises industrialisation, infrastructure, and SME growth, Uganda Development Bank UDB intends to raise $500 million. The program was announced by CEO Patricia Ojangole, who emphasised the need for longterm funding to help industries like manufacturing, renewable energy, and agroprocessing. UDB wants to combine foreign and domestic funding, including collaborations with development finance organisations. Climate resilience, job creation, and inclusive growth will also be given a priority by the bank. Ugandas Vision 2040 and its drive for economic transformation through private sectorled growth are in line with the fundraising initiative. Ojangole emphasised UDBs function in filling funding shortages and spurring investment in neglected regions, establishing the bank as a vital force behind longterm, sustainable national development. Read More..

B2B Tech News | 5 days ago         

Botswana Seeks New Export Markets as U.S. Tariffs Hit Beef and Textile Sectors

As U.S. tariffs reduce its trade competitiveness, especially in the textile and cattle industries, Botswana is aggressively looking for other export m

As U.S. tariffs reduce its trade competitiveness, especially in the textile and cattle industries, Botswana is aggressively looking for other export markets. The tariffs have significantly decreased Botswanas access to the U.S. market under AGOA and are a component of President Trumps larger protectionist agenda. Using the African Continental Free Trade Area AfCFTA, Trade Minister Mmusi Kgafela revealed plans to shift focus to Asia, the Middle East, and intraAfrican trade. In order to diversify its economy, Botswana also hopes to increase valueadded exports and draw in international capital. Authorities caution that sustained tariff pressure may have an effect on GDP growth and employment. In light of changing global trade dynamics, the government is speeding up trade missions and bilateral discussions in an effort to find new customers and lessen dependency on conventional Western markets. Read More..

B2B Tech News | 5 days ago         

Ruto and Rubio Discuss Haiti Stabilization, U.S.–Kenya Trade Expansion

U.S. Senator Marco Rubio and Kenyan President William Ruto met in New York to talk about boosting trade between Kenya and the United States and stabil

U.S. Senator Marco Rubio and Kenyan President William Ruto met in New York to talk about boosting trade between Kenya and the United States and stabilising Haiti. Rubio praised Nairobis dedication to international peacekeeping during the discussions, which centred on Kenyas leadership of the UNbacked multinational security force in Haiti. Ruto underlined Kenyas role in regional security and the necessity of concerted international assistance to restore peace in Haiti. The presidents also talked about potential investments in Kenyas digital and green economy sectors, as well as ways to increase bilateral commerce, particularly in the fields of agriculture and textiles. Growing U.S.African engagement and Kenyas strategic stance as a global south trade partner and peacekeeping leader are reflected in the summit. Read More..

B2B Tech News | 5 days ago         

Sangomar Output Beats Expectations, Senegal Raises 2025 Oil Target

Senegals oil production estimate for the Sangomar offshore field in 2025 has been increased from 30.53 million barrels to 34.5 million barrels. Senega

Senegals oil production estimate for the Sangomar offshore field in 2025 has been increased from 30.53 million barrels to 34.5 million barrels. Senegal formally joined the group of countries that produce oil when Sangomar, which is run by Australias Woodside Energy Group, started production in June 2024. According to the energy ministry, the field delivered more than 24 million barrels of petroleum between January and August 2025. The updated prediction indicates increasing momentum in Senegals energy sector and reflects betterthanexpected performance. Analysts see this as a positive for the nations economic prospects and regional clout, particularly as West African countries aim to leverage the development of natural resources in the face of global energy shifts and growing need for a variety of supply sources. Read More..

B2B Tech News | 26 days ago         

Rand Rises 0.4% as South Africa’s Reserves Beat Forecasts

On September 5, the South African rand gained 0.4%, closing at 17.71 versus the US dollar, following central bank data that showed net foreign reserve

On September 5, the South African rand gained 0.4%, closing at 17.71 versus the US dollar, following central bank data that showed net foreign reserves rose from $65.143 billion in July to $65.899 billion in August. Nedbanks prediction of $65.2 billion was surpassed by the increase, which improved investor sentiment. According to Ipsos polling, the rand has already depreciated because of a stronger dollar and waning support for South Africas government of national unity as political disputes damaged public trust. Bearish mood was linked to political and economic uncertainties, according to ETM Analytics. With yields falling 2 basis points to 9.625%, South Africas benchmark 2035 bond likewise saw an increase. Amid wider worries about the volatility of emerging economies, the reserve data assisted in stabilising markets. Read More..

B2B Tech News | 26 days ago         

Ramaphosa Urges Japan to FastTrack Trade Deals, Citing 15Year Avocado Delay

Citing a 15year backlog in avocado export permissions as a warning, South African President Cyril Ramaphosa urged Japan to expedite trade discussions

Citing a 15year backlog in avocado export permissions as a warning, South African President Cyril Ramaphosa urged Japan to expedite trade discussions during the Tokyo International Conference on African Development. He invited Japanese companies to coinvest in regional value chains by positioning South Africa as a gateway to the African Continental Free Trade Area AfCFTA. Ramaphosa highlighted South Africas policy stability and investment protections while applauding Japans readiness to modify tariffs for countries in economic distress. In addition to highlighting the nations shift to renewable energy, Energy Minister Kgosientsho Ramokgopa called for $25 billion in transmission upgrades. The CEO of Toyota Tsusho and other Japanese executives expressed hope, pointing to South Africas critical position in Africas energy and automobile industries. Read More..

B2B Tech News | 26 days ago         

G20 Finance Chiefs Meet in Durban Amid Tariff Tensions and $800B African Debt Crisis

Leaders of the G20 finance ministers conference in Durban are attempting to strengthen international collaboration in the face of growing geopolitical

Leaders of the G20 finance ministers conference in Durban are attempting to strengthen international collaboration in the face of growing geopolitical division, debt problems, and tariff concerns. Under the first African presidency, South Africa is hosting the summit, which focuses on Global South objectives like climate finance, infrastructure, and multilateral bank reform. Trumps proposed 30% tariffs on EU goods could destroy transatlantic trade, according to German authorities, while South Korea and other countries prepare for similar actions. U.S. Treasury Secretary Scott Bessents absence has sparked questions about Washingtons commitment to multilateralism. Africas external debt has risen to $800 billion, leading to demands for additional aid and transparent lending. Despite disagreements, delegates want to publish a statement outlining common economic objectives. Read More..

B2B Tech News | 3 months ago         



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