News updates from the African continent for July 3rd, 2025
Four die as vessel capsizes in Suez Gulf; three still missing
At least four people died when a vessel capsized while being towed in the Gulf of Suez, one of Egypt’s prominent Red Sea oil production sites, the vessel operator’s Saudi Arabian owner, ADES Holding Company, said on Wednesday.
The incident occurred around 130 nautical miles from the southern entrance of the Suez Canal and has not disrupted navigation along the trade route, the Suez Canal Authority Chairman Osama Rabie said in a statement.
Source: Reuters
Kenya looks to privatise state assets to draw private-sector investments
Kenya is planning to privatise some state assets via initial public offerings in order to bring in more private sector investment, President William Ruto said in remarks at the London Stock Exchange on Wednesday.
The government plans to start with listing the Kenya Pipeline Company via an IPO on the Nairobi Securities Exchange this year, Ruto said.
“We are committed to a structured, time-sensitive programme that identifies and prepares a robust pipeline of key government assets to be privatised through the stock exchange or improved through private sector participation,” he said.
Source: Reuters
Nigeria’s Two Main Opposition leaders Join Forces To Create New political party
Nigeria’s two main opposition leaders have joined a new political party to challenge President Bola Tinubu and his ruling party in the next election.
Atiku Abubakar and Peter Obi have chosen the African Democratic Congress (ADC) as their new political home after breaking away from their respective parties – the Peoples Democratic Party (PDP) and the Labour Party (LP).
This is one of the biggest shake-ups in Nigerian politics since the end of military rule in 1999.
Source: BBC Africa
