 Business & Macro🇳🇬 Nigeria posted a $6.8 billion balance of payments surplus in 2024, the first in three years. It recorded a $3.3 billion deficit last year. 🇨🇮 Cote d’Ivoire, the world’s top cocoa producer, said it would consider raising cocoa prices in response to tariffs imposed by the Trump administration. Climate & Energy🇰🇪 Kenya is in talks with a unit of Saudi Aramco for the Gulf company to invest in oil storage facilities in the port of Mombasa. Geopolitics & Policy🇿🇼 Zimbabwe paid out $3.1 million to 378 white farmers whose lands were forcibly seized by the government two decades ago in the first batch of such payments. 🇹🇿 Tanzania charged Tundu Lissu, the chairperson of the main opposition party Chadema, with treason for a speech earlier this month in which he supposedly incited obstruction to upcoming general elections in October. Tech & Deals🇲🇬🇹🇿 The European Investment Bank invested $100 million in African mobile network operator Axian Telecom to support the company’s expansion of 4G and introduction of 5G to its mobile broadband network infrastructure across Madagascar and Tanzania. 🇳🇬 Nigerian digital banking startup Fairmoney’s gross revenue rose 62% to the naira equivalent of $78 million last year. 🇿🇦 South Africa’s Border Management Authority will unveil four unmanned night-vision drones and 40 body-worn cameras for border surveillance for the first time this month. |