News

Although Nigeria’s revenue growth was positive during the period, it fell far below expenditure despite low capital spending.

Zambia is one of the worst-hit by the El-Niño weather phenomenon which has led to severe droughts and food shortages.

Despite a strong export performance in January, Malawi’s economy remains in distress as its foreign exchange crisis worsens .

Despite strong operational growth in H2 2024, FirstRand’s ability to manage asset quality remains critical in avoiding stricter regulatory scrutiny

The loan will finance six development projects cutting across critical sectors of the Nigerian economy.

As inflation bites harder and the local currency plummets, the new minimum wage will have minimal impact on the purchasing power of public sector workers, offering little relief in the face of soaring costs.

Following a major overhaul of its tax structure in 2024, Namibia’s tax revenue surged to $4.3 billion in January 2025, driven largely by customs and excise duties

South Africa saw a slight uptick in inflationary pressures in January, following an overhaul of the CPI basket. Despite the increase, inflation remains within the SARB’s target band.

Driven by growth in the services sector, Nigeria’s economy expanded by 3.8% in the three months through December 2024, the fastest growth recorded in three years.

Kenya’s KCB bank has secured a $100 million funding from UK’s top development investor, BII, shoring up its capital reserves.

Senegal’s credit rating has been further downgraded by Moody’s following reports indicating a significantly higher debt burden and weaker fiscal position than previously estimated.

Bondholders claim that the IMF report exaggerates how much debt relief Ethiopia needs considering the recorded surge in the county’s gold and coffee exports.

Mrs Uche Uzoebo, pioneer Chief Distribution and Stakeholder Engagement Officer of SANEF takes over from Mrs Ronke Kuye as MD/CEO of SANEF limited.

A significant reduction in the country’s debt while strengthening the shilling will also help in reducing Kenya’s inflation rate.

Credit officers in Kenya expect that in Q1 2025, the percentage of nonperforming loans for the personal and household sector will increase.

The apex bank held the MPR at 1.9% for the second time in a row, citing a stable inflation rate of 2.8%, below the 3-6% range.

All 12 members of the MPC unanimously agreed to retain the MPR rate at 27.50%, citing the need to stabilize and strengthen the economy.

Kenya’s foreign currency reserves recieves boost as 2024 tourism earnings surges by over 19% to $3.49 billion.

In a move to boost mining activities and attract higher foreign investments, Zambia has removed its 15% export tax on gemstones.

Uganda is seeking $190 million to compensate Umeme power distribution company as the end of their concession contract draws nearer.