Boeing, the prominent player in US aviation manufacturing, is once again under scrutiny as one of its 737 Max 9 planes, operated by Alaska Airlines, experienced a mid-flight fuselage incident on its journey from Portland to Ontario last week. This development raises concerns with potential ramifications for Ethiopian Airlines, a key partner of Boeing in […]
On Thursday, January 18th, the World Economic Forum convened for its fourth day in Davos, Switzerland, stirring heated debates on various fronts, with the focal point being African debt. In a bold move, Nonkululeko Nyembezi, Chairwoman of Standard Bank, emerged as one of the first African delegates to confront the pressing issue. Nyembezi emphasized that […]
The inception of the Davos Annual Meeting in the early 1970s was marked by a confluence of global challenges – the Cold War, the Vietnam War, and an impending oil crisis. Against this backdrop, Professor Klaus Schwab, a German economics professor, introduced a groundbreaking concept in his book: “stakeholder theory.” This theory proposed that companies […]
Nigeria finds itself grappling with the highest inflation rate in over 27 years, reaching a staggering 28.92% in December. As the cost of living soars, particularly fueled by a surge in food prices, the pressure mounts on the central bank to take decisive action. This marks the 12th consecutive month of rising consumer inflation, with […]
Well, isn’t this just the epitome of diplomatic harmony? Tanzania has decided to play the tit-for-tat game by withdrawing approval for Kenya Airways to grace the Tanzanian skies with its presence. And why, you may ask? Well, it seems Tanzania is a bit miffed because Kenya denied Air Tanzania the grand opportunity to flaunt its […]
In the grand spectacle of global elections that is set to unfold this year, an unsettling revelation takes center stage: the World Economic Forum’s (WEF) latest “Global Risks Report 2024” spotlights artificial intelligence (AI) as the chief disruptor of electoral outcomes. Released this Wednesday, the report positions AI-derived misinformation and disinformation at the forefront of […]
The world is hurtling towards its gloomiest economic era in three decades, as the World Bank predicts a harrowing half-decade of growth. In its recent “Global Economic Prospects” report, the organization foresees a third consecutive year of global growth deceleration in 2024, plummeting to 2.4% from 2.6% in 2023. While a modest uptick to 2.7% […]
Prime Minister Giorgia Meloni outlined Italy’s G7 priorities, emphasizing a commitment to supporting African development and addressing the risks associated with artificial intelligence (AI). Meloni expressed concern about AI’s impact on the job market, stressing the need for a special session before the June summit to delve into this critical issue. Additionally, Italy’s presidency will […]
Nigeria’s central bank has taken decisive action over the past three months, settling nearly $2 billion in overdue foreign exchange forwards to address a mounting backlog of dollars. Despite these efforts, the nation’s currency, the naira, remains ensnared by persistent forex shortages. With approximately $7 billion in matured forex forwards causing anxiety among investors, the […]
The African startup ecosystem has witnessed a tumultuous 2023. As global venture capital funding experienced a significant decline, the repercussions were deeply felt across the African tech landscape. This downturn in investment has highlighted several challenges, leading to the shuttering of several promising fintech and tech-driven ventures. Let’s delve into the reasons behind these failures […]
