BRICS Nations Slam Trump Tariffs, Condemn Strikes On Iran
BRICS leaders at a summit took aim at US President Donald Trump’s “indiscriminate” import tariffs and recent Israeli-US strikes on Iran. The 11 emerging nations — including Brazil, Russia, India, China, and South Africa — account for about half the world’s population and 40 per cent of global economic output. BRICS members says the tariffs risked hurting the global economy, according to a summit joint statement. Trump says any country aligning themselves with the anti-American policies of BRICS will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Trump has warned he will impose unilateral levies on partners unless they reach “deals” by August 1.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
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Elon Musk Set To Launch New Political Party
Elon Musk says he is launching a new political party, weeks after dramatically falling out with US President Donald Trump. The billionaire announced on his social media platform X that he had set up the America Party, billing it as a challenge to the Republican and Democratic two-party system. The Federal Electoral Commission had not published documents indicating the party had been formally registered.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
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Namibia Halts All State Funerals Amid Criticism Of The High Cost
The Namibian government has announced a temporary ban on state funerals amid criticism over the rising costs of these burials. Only President Netumbo Nandi-Ndaitwah has the power to exempt funerals from the moratorium, the government said. Minister of Information and Communication Technology Emma Theofelus says the moratorium would last until April 2026, while a review committee looks into the "criteria and processes associated with bestowing official funerals". Ms Theofelus added that a committee consisting of "no more than seven members" would be established to lead the review. The government has not said whether the decision was related to mounting criticism of the increasing costs of the numerous state funerals as reported by local media.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
The Nigerian Upstream Petroleum Regulatory Commission has generated a total sum of N28.11bn in miscellaneous oil revenue tied to licensing fees and renewals within the first five months of 2025. The fund collected by the commission between January and May 2025 was remitted fully to government coffers. This comes amidst the scramble by over 40 Petroleum Prospecting Licence holders to renew their exploration permits. The commission described this category of income as revenue generated from granting approvals for various types of licences and permits. Still, it did not disclose the specific amounts earned from each source.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
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Nigerian Communications Commission gives Tower Companies Deadline To Improve Internet Quality
The Nigerian Communications Commission, the regulator for telecom firms and internet service providers, has said it will introduce a portal for tower companies to report downtimes on their network facilities. It has also given them an August deadline to improve their infrastructure or face fines. The NCC says Nigeria experiences an average of two network outages daily, with a total of 349 major outages recorded across the country between January and June 2025. The NCC wants every company involved in the network connectivity value chain to be held accountable. When your internet connection frustrates you next time, it’s not enough to blame MTN, Airtel, Glo, or 9mobile.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.
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