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HomeDaily NewsFriday, May 1, 2026China Scraps Tariffs for All But One African Nation - May 2026
Business & Economy3 stories from 1 sources

China Scraps Tariffs for All But One African Nation - May 2026

China is set to remove tariffs for 53 African countries, excluding Eswatini, as part of a policy expansion effective Friday, May 1st, lasting until April 30, 2028. This trade policy expansion represents a significant development in China-Africa economic relations. In contrast, the High Court in Eldoret dismissed a case filed by Green Planet Initiative 2050 Foundation against Earthbanc AB concerning the Regeneration Kenya Project, ruling in favor of Earthbanc and finding the plaintiff's claims lacked merit while ordering them to pay legal costs. Separately, Apple announced record sales growth in the first quarter with its iPhone 17 launch described as the most popular launch in Apple's history, with overall sales jumping 17% to $111bn driven significantly by a 28% increase in China.

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Friday 12:55 AMCapital BusinessFirst

China scraps tariffs for all but one African nation

China scraps tariffs for all but one African nation

China is set to remove tariffs for 53 African countries, excluding Eswatini, as part of a policy expansion effective Friday, May 1st, lasting until April 30, 2028.

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Key Highlights

China is set to remove tariffs for 53 African countries, excluding Eswatini, as part of a policy expansion effective Friday, May 1st, lasting until April 30, 2028.

  • The policy offers unilateral zero-tariff treatment, a move China claims as a first for a major economy.
  • Analysts note that while aiming to boost soft power and African exports, challenges like a significant trade imbalance with China persist.
  • Eswatini's exclusion is seen as a political statement by China due to its ties with Taiwan.
Friday 11:20 AMCapital Business

Court dismisses case against Earthbanc in Kenya project dispute

Court dismisses case against Earthbanc in Kenya project dispute

The High Court in Eldoret has dismissed a case filed by Green Planet Initiative 2050 Foundation against Earthbanc AB concerning the Regeneration Kenya Project. The court ruled in favor of Earthbanc, finding the plaintiff's claims lacked merit and ordering them to pay legal costs.

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Key Highlights

The High Court in Eldoret has dismissed a case filed by Green Planet Initiative 2050 Foundation against Earthbanc AB concerning the Regeneration Kenya Project. The court ruled in favor of Earthbanc, finding the plaintiff's claims lacked merit and ordering them to pay legal costs.

  • The dispute stemmed from the termination of the contractor's engagement in April 2025 due to compliance concerns.
  • Key parties involved include the plaintiff, Green Planet Initiative 2050 Foundation, and the defendant, Earthbanc AB, along with its subsidiary Earthtree Company Limited.
  • The court determined that no payments were owed to the plaintiff, concluding the legal matter.
Friday 3:01 PMCapital Business

Apple says iPhone 17 ‘most popular ever’ as sales soar

Apple says iPhone 17 ‘most popular ever’ as sales soar

Apple announced record sales growth in the first quarter, with its iPhone 17 launch described as the "most popular launch in Apple's history." The company saw overall sales jump 17% to $111bn, driven significantly by a 28% increase in China.

Read Story

Key Highlights

Apple announced record sales growth in the first quarter, with its iPhone 17 launch described as the "most popular launch in Apple's history." The company saw overall sales jump 17% to $111bn, driven significantly by a 28% increase in China.

  • Apple's overall sales grew 17% to $111bn in the first three months of the year.
  • CEO Tim Cook hailed the iPhone 17 as the "most popular launch in Apple's history." Sales in China were up 28%.
  • Despite strong iPhone sales, other products like Mac computers and Apple Watch saw flat growth, though the new Macbook Neo is experiencing "off the charts" demand.
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