Uganda and IMF Agree to a $240 million Funding Deal.
Uganda and the International Monetary Fund (IMF) have established a staff-level agreement for the delivery of around $240 million in…
Category: Finance
Nigeria FG Agree on NIPPS Sale to Pay for Budgets.
Final agreement has been reached between the federal government and the 36 governors of the states to sell five power…
The Total Assets of the Insurance Sector Reached N2.3 trillion.
At the end of the third quarter of 2022, the insurance industry in Nigeria had N2. 3 trillion in total…
Banks Reject 94% of Proposals for Export Funding.
Dr. Bamidele Ayemibo, the lead consultant at 3T Impex Consulting, claims that 94% of bank requests for export financing from…
Nigeria’s Inflation Picks Up in November, Reaching 21.47%.
According to the statistics office, inflation in Nigeria increased for the tenth consecutive month in November, rising to 21. 47%…
Banks’ Operating Expenses are Up 19.2% Due to High Inflation and Regulatory Fees.
Following a high inflation rate and regulatory charges, 14 Nigerian banks reported N2. 03 trillion in total operating expenses in…
According to the UN, Global Trade will Reach a Record of $32 trillion in 2022.
According to a UN report, the value of global trade is set to set a new record this year, increasing…
UK Inflation Drops from a 41-year High as Fuel Price Surge Subsides.
Inflation in the United Kingdom came in slightly lower than expected in November, at 10.7%, as lower fuel prices helped…
The IMF Claims that Global Debt is Still Significantly Higher than Pre-pandemic Levels.
The IMF reported that overall public and private debt declined by 10 percentage points to 247% of global gross domestic…
Beyond Capital Ventures Declares Groundbreaking Final Close of Venture Fund
On April 30, 2021, Beyond Capital Ventures was established with the goal of making investments in early-stage businesses in India…
Ghana: Germany Pledges an Economic Grant of €82 million.
The Federal Republic of Germany’s government has pledged to give grants totaling about €82 million to important sectors of the…
Despite Global Headwinds, Remittances Grew by 5% in 2022.
Remittances to low- and middle-income countries increased by an estimated 5% to $626 billion in 2022. Remittances to China, however,…
Ghana: A Record-high Interest Rate of 31.4% was Reached.
At the end of October 2022, the average interest rate on loans provided by banks to individuals and businesses in…
Nigeria’s Trade Balance is 86% Worse Off Due to Weak Exports.
Nigeria’s trade balance has been negative quarter over quarter, as exports have decreased by 19.8% to N5. 93 trillion in…
Egypt Hopes to Issue its First Panda Bonds.
According to Deputy Finance Minister Ahmed Kouchock, Egypt plans to issue its first panda bonds by the end of this…
Global Central Bank Push for Rate Increase.
Central banks overseeing six of the 10 most heavily traded currencies delivered 350 basis points (bps) of rate hikes between…
NNPC Signs $1.4 billion Financing Agreement For Hydrocarbon Project.
The Northern Hydrocarbon Funding Limited has a $1. 4 billion external project finance arrangement, according to the Nigerian National Petroleum…
Bonds Suffer as Credit Suisse Stocks Hit New Record Lows.
There were no signs that investors’ worries about the future of the Swiss lender were lessening as shares of Credit…
Ghana’s Debt Restructuring: Eurobond Holders Face Possible 30% Cut.
As the government pursues a debt exchange program to meet the requirements for a loan from the International Monetary Fund,…
CBN Approves New Rules to Combat Money Laundering.
In order to implement the provisions of the Anti-Money Laundering, Combating the Financing of Terrorism, and Countering Proliferation of Weapons…
Registrars for Capital Markets Demand Proper Identity Management.
To encourage investment in Nigeria’s capital market, the Institute of Capital Market Registrars has called for proper identity management. This…
Banks lend N1.2tn to Construction Firms.
The loans obtained by operators in the country’s construction sector from banks increased from N1. 025tn in January 2022 to…
Recession affects Businesses in the Manufacturing, Oil, and Service Sectors.
During the third quarter of 2021 and the same period of 2022, the Nigerian GDP shrank by 1. 78 percent.…
FG Calls for Closer Ties with Canada to Advance both Countries’ Trade Objectives.
According to the Federal Government, Nigeria and Canada must collaborate closely to accomplish a number of shared objectives, including enhancing…
At Shs80 trillion in Debt, a Crisis is Imminent in Uganda.
Increases in the budget deficit and public debt are likely to hinder Uganda’s capacity to grow economically and place it…
Fed Insiders Anticipate Small Rate Increases to Occur Soon.
The Federal Open Market Committee, which sets interest rates, is largely expected to reduce its rate hike in December from…
On Account of Asset Auctions, Bad Loans have their Largest Decline in 15 years.
On account of more property auctions, the repayment of non-performing debt, and poor credit write-offs, the size of defaulted loans…
According to the ILO, Global Unemployment is Worsening.
According to the latest edition of the International Labour Organization Monitor on the World of Work, unemployment and inequality will…
IMF Criticizes Nigeria’s Monetary and Fiscal Policies.
The Central Bank of Nigeria’s monetary policy has been criticized by the International Monetary Fund. It said Nigeria has been…
Uganda Government is Advised to Cut Taxes to Boost the Industrial Sector.
Amos Nzeyi, executive chairman of Crown Beverages Limited (CBL), has urged the government to lower taxes on manufacturing in order…