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Middle East Leaders Renew Talks on Regional Security Cooperation

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Middle East Leaders Renew Talks on Regional Security Cooperation

Leaders from several Middle Eastern countries have renewed discussions on regional security cooperation following a high-level meeting held in Riyadh, Saudi Arabia, on 18 November. The talks brought together foreign ministers, national security advisers, and senior military officials from Gulf Cooperation Council states, alongside representatives from Egypt, Jordan, and Iraq. The meeting was convened by the Government of Saudi Arabia as part of a continuing diplomatic track aimed at reducing regional tensions and strengthening collective…

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African Union Pushes for Accelerated Continental Free Trade Implementation

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African Union Pushes for Accelerated Continental Free Trade Implementation

The African Union has renewed calls for accelerated implementation of the African Continental Free Trade Area as leaders and policymakers met in Addis Ababa, Ethiopia, in early December for a high-level trade and integration review session held at the African Union headquarters. The meeting, convened by the African Union Commission Department of Economic Development, Trade, Tourism, Industry and Minerals, brought together trade ministers, senior customs officials, heads of regional economic communities, and representatives of the…

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Shell to Lead Offshore Drilling in South Africa’s Block 2C

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Shell to Lead Offshore Drilling in South Africa’s Block 2C

Pretoria, December 8, 2025 – South Africa’s legacy national oil company, PetroSA, has approved a landmark agreement granting Shell Offshore a 60 percent working interest in Block 2C, located off the country’s west coast in the promising Orange Basin. The deal marks a major shift in offshore exploration strategy and significantly expands Shell’s footprint in one of Africa’s hottest potential hydrocarbon regions. Under the farmin arrangement, Shell will pay a USD 25 million signing bonus…

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Nigeria’s New Cash Withdrawal Caps Signal a Stronger Push Toward Cashless Economy

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Nigeria’s New Cash Withdrawal Caps Signal a Stronger Push Toward Cashless Economy

Abuja — The Central Bank of Nigeria has introduced new cash withdrawal limits that will take effect on 1 January 2026, marking one of the most significant shifts in the nation’s cash management policy in recent years. The revised framework limits individual account holders to weekly cash withdrawals of up to six hundred thousand naira, while corporate organisations will be capped at five million naira per week. Withdrawals that exceed these thresholds will attract processing…

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As Foreign Banks Depart, African Economies Face Urgent Call for Competitiveness Reform

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As Foreign Banks Depart, African Economies Face Urgent Call for Competitiveness Reform

Nairobi, Kenya – African economies are entering what analysts describe as a critical juncture, as a wave of withdrawals by foreign banks prompts an urgent reassessment of competitiveness, regulation and financial sector strategy across the continent. Recent years have seen a growing exodus of major global banking institutions from Africa. European and UK-based banks that for decades operated in multiple African markets are now scaling down or completely exiting. According to latest reports, Africa’s overall…

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