Central Bank dispute affects Libya's Oil {Business Africa}

Libya, home to Africa's largest oil reserves, is in the midst of a severe political and economic crisis. The removal of Central Bank governor Sadiq Al-Kabir has sparked a power struggle between rival factions, disrupting oil production and halting exports. As 90% of Libya's income depends on oil, control of the Central Bank is crucial, and the standoff threatens to freeze the economy. With oil output plummeting and the risk of instability growing, the UN and international community are working to mediate, but the outcome remains uncertain.

We interviewed Mohamed Eljarh, an energy expert from Managing Partner at Libya Desk.

China’s $50 Billion Focus: Clean Energy and Debt Relief

China's pledge of $50 billion in credit lines and investments to Africa over the next three years signals a shift in its engagement strategy, reflecting domestic economic pressures and rising debt risks across the continent. While China announced plans for 30 clean energy projects, emphasizing renewable energy, the absence of concrete debt relief for struggling African nations remains a concern. Despite this, UN Secretary-General António Guterres defended China’s role, noting Africa’s debt challenges predate Chinese involvement. Private sector investments continue to be vital, but operational challenges, such as those in Djibouti, highlight the complexities of doing business in the region.

West Africa's Food Waste Crisis

Tomato farmer Kachollom Silas arrives at a market in Jos with the hope of selling her produce, only to find that more than half of it has perished. Like many farmers in West Africa, she faces the harsh reality of post-harvest losses, a problem affecting the livelihoods of millions. In Nigeria alone, 50% of agricultural produce—worth around $2 billion—is lost annually. This issue extends to neighboring countries like Ghana, where efforts to address these losses, including food processing initiatives, remain insufficient. Experts argue that better storage, processing facilities, and regional collaboration are essential to combat hunger and economic challenges in West Africa.

Tesem Akende reports from Jos, Nigeria.