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While the surge in technology investments highlights the digital sector’s growing role in Nigeria’s economy, investor confidence in the broader landscape remains weak, as reflected in the continued decline in overall FDI.
The bank, while denying insolvency claims, clarified that its actual exposure ranges between $9 million and $19 million—a sum it would share with G. Cappa, another party to the suit.
The new deal marks a significant step-up from previous commitments, with IsDB indicating plans to double Algeria’s financing volumes which currently stand at around $2.9 billion.
FIRS and RMAFC have formed a joint committee to enhance tax revenue monitoring, marking a strategic move toward fiscal transparency and reducing Nigeria’s reliance on volatile oil income
The energy project is expected to supply electricity to over 1 million Malawian households and create thousands of jobs, both directly and through downstream industries.
Ethiopia’s central bank has announced it will phase out a controversial rule that requires commercial banks to buy government bonds.
The Mozambican government expects to collect 500 million meticais ( about $7.5 million) in taxes from casinos and gambling activities in 2025.
The upgrade marks a significant shift in the lender’s expansion strategy beyond its traditional markets in Eastern Europe, Central Asia, and parts of the Middle East.
Despite the apparent drop in headline inflation, Nigerians continue to face high costs of essentials amid ongoing economic challenges.
A Kenyan lawmaker, Caroli Omondi, has suggested a new law called the Central Bank of Kenya (Amendment) Bill 2025. This law would make it against the rules for shops and businesses with real locations to refuse cash for payments under $775. If they don’t follow this rule, they could be fined or sued.
Tanzania is set to establish an International Financial Services Centre (IFSC) to attract investment and fund major development projects.
Alterra Capital, backed by Dangote and Rubenstein, has acquired Kenya’s iconic Pollman’s Tours — a bold private equity move into East Africa’s recovering tourism sector.
The Central Bank of Nigeria has stated in its latest report that more than 69% of Nigerians are against a further increase in monetary interest rates (MPR).
East African powerhouse, Ethiopia, has reportedly recorded a historic increase in coffee export amounting to over $1.8 billion.
The Angolan government acknowledged that while the swap offered cost benefits, it also exposed the country to new financial pressures.
Despite escalating conflict and economic headwinds the Republic GDP grew by 6.5% in 2024 and is projected to remain above 5% driven by a stable exchange rate and tighter monetary policy.
The southern African country saw a 10.7% yearly decline in counterfeit notes in 2024, attributed to improved security features, including holographic stripes, microtext, tactile elements, and transparent windows.
According to the multilateral lender, Nigeria’s 2024 economic growth was the strongest since 2014, driven by robust fourth-quarter momentum and an improved fiscal position.
Although the eastern African leader has no plans to seek further funding from the IMF in the near term, its outstanding obligations to the lender, currently over SDR 2.8 billion, remain a concern.
The lender’s robust earnings were buoyed by stronger interest income, which rose to $66.8 million from $55 million in Q1 2024.