Nigeria Escapes $11bn Payment Obligation Over Failed Gas Project
Nigeria already owes billions of dollars in debt and grapples with high inflation a cost-of-living crisis.
Money & Markets
Currencies, capital markets, and the prices that move African economies.
How Trade Deals Reveal the Behaviour of West African Elites
The trade policy choices of ruling elites are significantly influenced by their political survival, particularly in countries heavily dependent on a few commodity exports. This phenomenon is especially evident in West Africa, where the behavior of ruling elites and their trade policy decisions have been closely examined since the 1960s.
Kenyan Currency Under-Valued - Central Bank Governor
The governor of Kenya's central bank has stated that the country's currency, the shilling, is experiencing a historic low, and it has been overvalued for several years.
Here are the 3 Obstacles Withholding Africa's Economic Development
Africa had been seeking to assert itself on the global economic stage, but continues to run up against the West's dominance, as well as the barrier of the Franc of the Financial Community of Africa (CFA franc), explained Cameroonian economist Jean René Ndouma
Pakistan Dethrones U.S. as Top Exports Earner in Kenya
Pakistan overtook the US and the Netherlands to become the largest destination for Kenya’s goods in the first eight months of the year outside of the East African Community, pointing to increasing orders for tea. Analysis of Kenya’s export earnings by value shows Pakistan ordered goods worth Ksh48.
How Ghana's Central Bank Lost $5bn in One Year
Ghana - once touted as a trailblazing African economic success story - is facing an unprecedented financial crisis.
Nigeria to Lose Crown as Africa’s Biggest Economy
South Africa is set to briefly overtake Nigeria and Egypt as the continent’s largest economy next year, International Monetary Fund forecasts show.
Why Did the U.S. Warn Investors Against Doing Business in Uganda?
The United States on Monday issued a business advisory to its businesses, individuals and other US persons including health services providers, members of academic institutions and investors, warning them of potential risks they may face while conducting or contemplating to conduct businesses under the recently Anti-Homosexuality Act enacted by Ugandan
Agan, IMF Announce Delay on Zambia Debt Deal
Zambia debt deal close but not signed yet - IMF Spokesperson
IMF and World Bank Decide Africa's Fate in Morocco
In a significant development, member nations of the International Monetary Fund (IMF) have reached an agreement to enhance their financial commitments to the global institution. Simultaneously, the IMF has declared that Africa will be granted an additional, third seat on its Executive Board.
Should African Start-Ups Worry About Silicon Valley Bank Sudden Crumble?
KEY POINTS * There appears to be a mixed impact on Africa's tech ecosystem due to the collapse. * If ripple effects are not yet fully apparent, observers believe that the long-term implications could be more significant. * Calls to protect African businesses through reduced reliance on foreign capital have since
Real Reason behind the Erratic Services of Online Banking Platforms in Africa
Online banking solutions and mobile wallets started making waves across Africa between the late 1990s and early 2000s. During that period, international financial institutions and regulatory associations took active steps toward matching their words with actions to provide financial inclusion for millions of Africans who had little or no access
The Untold story of South Africa’s Rising Black Market for Hitmen
KEY POINTS * South African Police still investigation the murder of Kiernan Forbes and ceased phones have provided information. * S.A Police Minister Bheki Cele under fire from the citizens who want answers for increasing criminal activity. * According to latest annual report, 20.47% of murder cases are resolved. The price
Nigerians Are Now Buying Naira Notes in Nigeria, Result of New Naira Note Scarcity
The past week has seen Nigerians scramble, in droves, to the nearest banks, Automated Teller Machines (ATMs) and Point of Sale (POS) machine merchants in search of new Naira notes—or any Naira notes for that matter. The latest problem bedevilling the African Giant is as a result of the
Africa to Lose 64% of GDP Due to Failed Promises by the West
If nothing is done soon, the harsh reality will see Africa’s economic growth stunted as a result of climate change – which will create a huge poverty trap for millions of Africans. According to the report released by the United Kingdom Relief Agency Christian Aid organization, the future of Africa
State to Bail Kenya Airways Out of $841 Million Debt to US Exim Bank
KQ took the nearly billion-dollar loan in 2017 in its quest for fleet expansion. The hefty sum would enable the carrier to purchase 7 aircraft and 1 aircraft engine. The hope was that KQ would be able to increase its capacity, and in turn profitability – the airline has a history