Kenya’s Forex Buffer Exceeds 4 Months of Coverage on IMF Loan.
After the International Monetary Fund (IMF) disbursed Sh81. 7 billion, Kenya’s foreign exchange reserves increased to $7.537 billion (Sh925. 6…
Category: Africa
Nigeria’s Senate Approves The 2023 Budget but Defers a Decision On The Loan-bond Swap.
The Nigerian Senate raised the budget for 2023 by 6. 4% to 21. 83 trillion naira ($49 billion) and postponed…
In 2023, German Corporations Intend to Invest more in Africa.
43% of German companies anticipate increasing their investments in Africa in the upcoming year, particularly in sectors like green hydrogen…
Pension Funds will not be Included in Ghana’s Domestic Debt Restructuring.
According to a letter signed by the finance and labor ministers, as well as an alliance of trade unions, Ghana…
World Bank Grants $311 million for West Africa’s Renewable Energy.
The World Bank has granted $311 million in International Development Association financing to improve West Africa’s capacity for grid-connected renewable…
Kenya’s Producer Inflation Hits Highest Points Since 2019.
The Producer Price Index (PPI), which measures the cost of manufacturing, reached 16.53 percent in June before falling to 15.…
Tanzania: NBC Bond Trades at DSE Following a Successful Sale.
The National Bank of Commerce (NBC) bond, which was recently completed, is now open to investors through the Dar es…
Ghana’s Economy Grows Slowly in the Third Quarter.
According to preliminary data from the Ghana Statistical Service (GSS), the economy grew 2. 9% less slowly between July and…
Kenya Campaigns for an Import Ban on Radioactive Waste.
In accordance with a continental agreement to prevent Africa’s borders from becoming a dumping ground for foreign manufacturers, the Kenyan…
Kenya: Treasury Announces a New Plan for Sh110 billion in Syndicated Loans.
According to an International Monetary Fund (IMF) report, Kenya will take out syndicated loans totalling Sh110. 7 billion by the…
Ghana’s Third-quarter Growth Dips to 2.9%
According to the statistics office, Ghana’s third quarter economic growth dropped to 2. 9% year over year from 6. 6%,…
IMF Approves Disbursement of $447.39 million to Kenya
The International Monetary Fund’s (IMF) board has approved the disbursement of $447.39 million to Kenya after a review of its…
Due to Halted Debt Payments, S&P Downgrades Ghana’s Sovereign Rating to “Selective Default.”
A day after Ghana announced it would stop making debt payments, the global rating agency S&P cut the country’s sovereign…
Kenya: Consumers Suffer as Shilling Hits a New historic Low.
Following the shilling’s historic low against the dollar, which created the conditions for higher import costs and inflation, Kenyans are…
Kenya: The CMA Grants Financial Intermediaries Four Licenses.
The Capital Markets Authority (CMA) has issued four licenses to banks and financial intermediaries as investment advisers, authorised depositories and…
Government Defers Debt Payments while Conducting Consultations.
The government has temporarily stopped paying a number of foreign debts to organizations that have extended loans to the nation.…
African Opposition Prevent the U.N. Global Nature Deal from Passing.
A historic worldwide agreement to safeguard the environment and channel billions of dollars toward conservation was accepted by the United…
Ghana Dollar Bonds Fell Following the Government’s Announcement to Halt Debt Payments.
After the government declared, it will stop making payments on Eurobonds, foreign commercial loans, and some bilateral debt, Ghana’s sovereign…
Ghana Declares a Suspension of its Repayment of its External Debt.
In light of the greatest economic crisis in a century, Ghana’s finance ministry announced that it was halting debt service…
Rwanda and Nigeria are the First African Countries to Sign the “Artemis Accords”.
The National Aeronautics and Space Administration (NASA) Artemis Accords have been signed by Nigeria and Rwanda. The documents were signed…
IMF to Inject $3bn into Ghana’s Economy.
Ghana has reached an agreement with the International Monetary Fund (IMF) for a $3 billion injection into the economy over…
AWHF Urges Tanzania to Use its Heritage Resources.
Tanzania has been challenged to maximize the value of its spectacular heritage resources. The country’s numerous sites of outstanding universal…
Microsoft Targets Internet Expansion in Africa.
According to Microsoft Corp. (MSFT.O) President Brad Smith, the company plans to ensure internet access for 100 million more individuals…
Africa’s Food Crisis is the Worst Yet.
African governments haven’t done much to stop periodic food crises. Leaders vowed in 2003 to devote at least 10% of…
Ghana Secures Conditional Approval for $3bn IMF Support.
Ghana and the International Monetary Fund (IMF) have reached a preliminary agreement for the fund to support the economy with…
World Bank Approves $18 Million for Nigeria and Others to Support Effective Disease Surveillance in West Africa.
In order to enhance efficient disease surveillance in West Africa, the World Bank Group has granted a total of $18…
There are Currently no Takers for the Debt Exchange Program.
The Central Securities Depository Limited (CSD) is still waiting for the consent of institutional bondholders willing to participate in the…
Kenya’s Highest and Lowest Paying Industries are Revealed.
The financial and insurance sectors employ the greatest proportion of Kenyans earning more than Sh100,000, indicating an economy with few…
Growth Expectations, Monetary, and Fiscal Policies.
Fiscal and monetary policy are essentially macroeconomic instruments used to control or stimulate the economy. Because the two policies together…
US Pledges to Invest $55 billion in Africa before the Summit.
As President Joe Biden gears up to host the U.S.-Africa summit this week and speak with a select group of…