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,…
Ghana: Gov’t Reviews 2019 Budget to GHS 85.1…
The government of Ghana is seeking approval for extra expenditure of some GHS 6.4billion in its Mid-Year Review and Supplementary Estimates. This was contained in the Order of Business of Parliament on Monday, 29 July…
South Africa: Jabu Mabuza Appointed Eskom Acting CEO
Public Enterprises Minister Pravin Gordhan said in a statement on Monday afternoon that he has informed the Eskom Annual General Meeting (AGM) of his decision to appoint Jabu Mabuza as the interim executive chair for…
Democraticisng access to infrastructure – Bilha Ndirangu, CEO,…
Africa’s Talking is a provider of technology that helps different industries connects with infrastructure providers. Bilha Ndirangu, Chief Executive Officer of Africa’s Talking, says that democratising access to infrastructure will enable mobile app developers and…
Cameroon: American Businessman to invest at least 240…
The American businessman Mike Mason intends to invest at least 240 Billion CFA frs in Cameroon’s cobalt sector within the next four years. The American Businessman who is the Chief Executive Officer of Geovic Mining…
Fitch downgrades South Africa’s credit rating
Ratings agency Fitch downgraded the outlook for South Africa’s sub-investment credit rating on Friday, citing fiscal pressures including increased support for struggling state firms such as the power utility Eskom. South Africa’s public finances are…
Tanzania Inaugurates Hydroelectric Dam in UNESCO Site
Tanzania’s president on Friday inaugurated a huge hydroelectric dam project in the country’s largest wildlife reserve and UNESCO World Heritage Site, calling it the start of “economic liberation.” Some wildlife groups have expressed dismay over…
Kenya: President Uhuru Kenyatta Calls for Economic Diplomacy
President Uhuru Kenyatta last evening said economic diplomacy offers the best opportunity to conquer poverty and joblessness in Africa. He called on those in positions of power to provide quality leadership by getting actively involved…
VertoFX Raises $2M For Its African and Emerging…
VertoFX, an Africa and emerging markets-focused currency trading and payment startup, has raised a $2.1 million seed round, led by Accelerated Digital Ventures. The London-based company, with a subsidiary in Lagos, Nigeria, has created a…
Ghana Is Best Place to Invest in Africa…
Vice President Dr. Mahamudu Bawumia has explained to a group of Canadian investors why Ghana is the best investment destination in Africa for both local and foreign investors. According to Dr. Bawumia, not only do…
Zimbabwe Raises Fuel Prices Again
Zimbabwe hiked fuel prices on Monday for the second time in a week but most pumps remained dry, with no end in sight to shortages that are helping drive inflation rapidly higher and which have…
“We Believe the Zim Economic Situation Will Continue…
NKC Research has projected that the Zimbabwe economy will continue deteriorating in 2019 considering the shortages of basic goods and the lack of foreign exchange. Economist at NKC African Economics, Jee-A van der Linde, said:…
Canal+ Acquires Nollywood Studio ROK Studios From IROKOtv…
French television company Canal+ has acquired ROK Studios from video-on-demand company IROKOtv for an undisclosed amount. Founded by Jason Njoku in 2010 — and backed by $45 million in VC — IROKOtv boasts the largest…
Ghana Lauds France for Technical and Economic Support
Ghana has applauded France for its continued technical and economic support in the areas of defense, agriculture, health and education, energy and public sector reforms. Mrs. Cynthia Morrison, Minister of Gender, Children and Social Protection,…
Zimbabwe Dollar Drops by 27.9% Against the US…
The Zimbabwe dollar has reportedly been of a downward trend since its introduction through Statutory Instrument 142 of 2019 in June. The SI also scrapped the multicurrency regime that had existed since 2009 following the…
Zimbabwe Inflation Soars to 175 Percent
Zimbabwe’s official inflation skyrocketed to 175 percent in June, according to official data released in Harare, the capital, on Monday, sparking concerns that the former southern African breadbasket could collapse economically. "The year-on-year inflation rate…
Former Mozambique Finance Minister’s Extradition From SA Halted
The extradition of former Mozambique finance minister Manuel Chang has been halted after it emerged that Chang enjoys double immunity under Mozambican law. Minister of Justice and Correctional Services Ronald Lamola announced in a statement…
Ghana Is Now the Fastest-Growing Mobile Money Market…
In the past few years, the unprecedented growth of mobile financial services in sub-Saharan Africa has defied all expectations. While Kenya is often cited as a leading example of digital transformation, Ghana has recently become…
Ghana, Malta to Deepen Trade, Investment Cooperation
The Ghana Investment Promotion Centre (GIPC) has signed a Memorandum of Understanding (MoU) with Malta Enterprise, Malta's economic development agency, tasked with attracting new foreign direct investment as well as facilitating the growth of existing…
