Tag: Africa economy

Egypt dims Cairo nightlife as rising fuel costs force early closures

Egypt curbs Cairo nightlife to ease rising energy costs

Egypt is tightening energy use in Cairo, dimming its nightlife as rising fuel costs and regional tensions strain public finances and the power grid. Authorities have ordered earlier business closures and reduced street lighting, a notable shift for a city known for its late-night pace. The move reflects growing pressure on Africa’s third-largest economy as higher global energy prices push…

Oluwatosin Alao March 31, 2026

Mozambique debt crisis deepens as World Bank weighs support

Business Technology

World Bank weighs options to ease Mozambique’s mounting debt burden

Mozambique’s debt crisis is worsening, pushing the World Bank to step up efforts to support the Southeast African nation as borrowing costs rise and investor confidence weakens. The strain reflects wider pressure across emerging markets, where tighter global financial conditions and geopolitical tensions are making it harder for governments to access affordable funding. For Mozambique, those challenges are compounded by…

Oluwatosin Alao March 19, 2026

A TotalEnergies fuel station illuminated at night, showcasing the company’s retail network presence.

Business Luxury

Mozambique bonds jump as TotalEnergies resumes LNG project

At a Glance Mozambique’s sovereign bonds surged on Monday after France’s TotalEnergies SE lifted force majeure on its $20 billion liquefied natural gas project — a long-awaited move that marks a turning point for one of Africa’s most ambitious energy ventures. The decision has revived confidence among investors who view the LNG development as central to Mozambique’s economic recovery. It…

Oluwatosin Alao October 27, 2025