Many African countries have been able to retain the value of their currencies in the face of multiple economic challenges including inflation, political changes, and the dynamics of foreign markets. Strong currencies reflect fiscal policy,…
Nigeria Owes N25.7 Trillion – DMO
The Debt Management Office (DMO) says that Nigerian's total debt profile is N25.7 trillion. The Director-General of the office, Patience Oniha, announced this while addressing House of Representatives Committee on Public Account on Friday in…
U.S-China war: What Africa needs to do –…
Amb. Tijani Muhammad-Bande The President of the UN General Assembly, Prof. Tijani Muhammad-Bande, has said that Africa needs to look inward to be able to overcome the negative effects of the trade war between the…
Nigeria, China Resume Talks On Port Harcourt-Maiduguri Rail…
The Minister of Transport, Rotimi Amaechi, said on Thursday that the Federal Government and its Chinese counterpart are holding talks on the Port Harcourt-Maiduguri rail project. The minister disclosed this in a statement issued by…
ED Takes ‘Zim Is Open For Business’ Mantra…
President Emmerson Mnangagwa said that Zimbabwe has had no lines of credit from international institutions for the past 20 years due to sanctions. President Mnangagwa was speaking on Monday at the Global Business Forum Africa…
Africans Must Have ‘Spirit of Entrepreneurship’ – Jack…
Jack Ma founder of Chinese conglomerate Alibaba says if Africa wants to build a sustainable economic growth each African must have the spirit of entrepreneurship. The Chinese billionaire was speaking at the Africa Netpreneur conference…
I appeal to Nigeria, please open the borders…
Mr. John Mahama, Former President of Ghana, on Tuesday, appealed to the Nigeria Government to open up her border so that economic activities can resume in West Africa. Mahama made the plea while delivering the…
Jumia Suspends Business in Cameroon
Online retailer Jumia Technologies, often called “the Amazon of Africa”, said it suspended its e-commerce platform activities in Cameroon on Monday because it is not suitable for the country. Its shares have tumbled from its…
De-Linking Our Economy From The USD Will Bring…
The Minister of Finance speaking at the Zimpapers breakfast meeting on Friday said it would take time to reach the de-dollarisation target as very few economies had successfully de-dollarised, the Herald reports. The treasury boss…
DRC targets 63% budget increase for 2020
DRC’s $10 billion draft budget for 2020 An ambitious draft budget presented to the National Assembly of the Democratic Republic of Congo. More than US$10 billion is needed for the various projects to be carried…
RBZ To Punish Banks Responsible For Flooding Streets…
Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said that investigations are already underway to ascertain the source of new notes that have flooded the black market. Mangudya said the banks responsible for channelling the…
African Development Bank Plans $67bn Investment Deals for…
The African Development Bank has disclosed plans to target projects valued at $67bn with deal makers at its flagship investment conference this week. According to AfDB President, Akinwumi Adesina, who spoke with journalists in Johannesburg,…
Twin fires ravage busy market in Nigeria’s commercial…
Nigerian firefighters were battling two fires that broke out almost simultaneously Tuesday at a busy market in central Lagos, the country’s largest city and commercial center. Balogun Market, where the fires erupted, is one of…
Zimbabwe Dollar Firms Against The USD In October
The Zimbabwe dollar has shown signs of stability in October, with the local currency shedding 3.1 per cent of its value against the greenback on the interbank market. As of September 30, 2019, the official…
Nigeria’s borders closed to trade until January 2020
Nigeria said on Sunday its borders would remain closed to trade until at least January 31, 2020. Nigeria launched a partial border closure in August to tackle smuggling of rice and other goods. Last month…
Trump cancels trade deal with Cameroon over rights…
US President Donald Trump has indicated his intention to terminate the designation of the Republic of Cameroon (Cameroon) as a beneficiary sub-Saharan African country under the African Growth and Opportunity Act (AGOA). In a letter…
South Africa’s credit rating close to junk status
Ratings agency Moody’s followed S&P Global and Fitch in spelling bad news for Africa’s second biggest economy, South Africa, now facing a slowdown in economic growth and rising debt burden. The rating agency moved South…
RBZ Working On Stabilising Exchange Rate: Mangudya
The Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said that the central bank will inject more liquidity on the interbank market to stabilise the exchange rate and ensure efficient forex allocation through the market.…
Ghanian President, Akufo-Addo Reveals What Closure Of Nigerian…
Ghana President, Nana Addo Dankwa Akufo-Addo on Tuesday said the closure of the land border between Nigeria and the Republic of Benin was a big blow to regional integration. Akufo-Addo who made this known at…
