Economy

Jamaica has officially joined Afreximbank, becoming the 13th member from the Caribbean Community, unlocking access to $1.5bn in new financing as part of a growing African-Caribbean economic alliance.


Nigeriaโ€™s Debt Management Office has refuted media reports claiming that the federal government spent $401.1m in March 2025 to service its first-ever US dollar-denominated bond issued in the domestic market.





Kenyaโ€™s private sector activity fell to an 11-month low in June 2025, as weak consumer demand, economic headwinds, and renewed protests dragged performance, according to the Stanbic Bank Kenya Purchasing Managersโ€™ Index (PMI).


Namibiaโ€™s FDI surged more than threefoldย between 2010 and 2024, reflecting sustained foreign investor confidence despite the countryโ€™s recent economic slowdown.



Ghanaโ€™s annual inflation dropped for the sixth consecutive month in June to 13.7%, marking the lowest level recorded since December 2021, according to official data released Wednesday.


South Africa has secured additional funding to tackle its long-standing energy and logistic bottlenecks, following the approval of a $475 million loan by the African Development Bank on Tuesday.


Nigeriaโ€™s June PMI fell to 51.6, the lowest in 2025, despite easing inflation. Business confidence rose to its highest since August 2022.



BREAKING: President Bola Tinubu has signed into law four tax reform bills that are set to transform Nigeriaโ€™s fiscal and revenue framework.


Kenyaโ€™s President Ruto has signed three key fiscal bills into law, ushering in broad tax reliefs and activating a $14.5bn spending plan as his government moves to ease living costs and attract investment.



South Africa has clinched a $1.5 billion loan from the World Bank to address chronic power and transport issues that have stalled growth in the industrial economy.


Nigeriaโ€™s inflation eased to 22.97% in May, its second monthly decline, but rising oil prices from Middle East tensions could reignite inflationary pressures, warns Nigeriaโ€™s CPPE think tank.


Nigeria’s Dangote is set to distribute PMS and diesel across, targets bulk users, with an added credit scheme to ease financing, amid rising energy cost and increasing idle stations.



Transnet has reached a three-year wage agreement with UNTU, refocusing attention on expanding its maritime operations, with government support.


Jamaica becomes 13th CARICOM member of Afreximbank, gains $1.5bn in financing

Jamaica has officially joined Afreximbank, becoming the 13th Caribbean Community (CARICOM) nation to sign the bankโ€™s Establishment Agreement. The milestone unlocks $1.5 billion in new financing for the country.

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Nigeriaโ€™s debt office denies $401m US bond servicing claim for March

In a statement issued on Thursday, the debt office clarified that the actual amount used for servicing the bond was $44.6 million, not the $401.1 million being cited in some media reports.

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10 African countries where international flight is most expensive

According to the 2024 Taxes and Charges Study by the African Airlines Association (AFRAA), international passengers departing from African airports pay an average of $68 in taxes and feesโ€”up from $66 in 2022 and $64 in 2020.

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Why Africaโ€™s richest man is investing $3 billion in Ethiopiaโ€™s fertiliser sector

Aliko Dangote, Africa’s richest man, is placing a bold $3 billion bet on Ethiopiaโ€”choosing the East African country as the site of his next mega fertiliser plant.

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Nigeriaโ€™s dollar millionaires plunge 53% in a decade, second-worst drop globally

The number of individuals with over $1 million in liquid assets in Nigeria dropped by 53% between 2014 and 2024, falling from 15,000 to 7,200. This marks a loss of 7,800 dollar millionaires over the period, the second-largest drop among 59 countries analyzed

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Kenyaโ€™s business activity hits 11-month low on weaker demand, protests

Kenyaโ€™s private sector activity fell to an 11-month low in June 2025, as weak consumer demand, economic headwinds, and renewed protests dragged performance.

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Greenfield projects, investor confidence drive Namibiaโ€™s $11bn FDI inflows

Namibiaโ€™s FDI performance significantly outpaced Botswana โ€” its economic counterpart, whose total stock stood at $6.5 billion in 2024 despite recording steady growth over the past decade.

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Nigerian national debt profile growth trend (2005-2025): Analysis of Federal Government debt dynamics

As of March 31, 2025, Nigeriaโ€™s public debt totaled โ‚ฆ149.3 trillion, according to the Debt Management Office.

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Ghanaโ€™s inflation slows for the sixth straight month in June to 13.7%

According to Government Statistician Alhassan Iddrisu, the continuous decline signals that the underlying causes of the inflation โ€” high food costs, currency depreciation and global supply chain bottlenecks โ€” were easing.

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AfDB backs South Africa with $475m loan to ease power, logistics woes

The facility will also support South Africaโ€™s transition to a green economy under its Just Energy Transition (JET) programme. The IMF estimates that the development initiative could lift annual GDP growth by 0.2 to 0.4 percentage points between 2025 and 2030.

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PMI: Nigeriaโ€™s business activity drops to 7-month low despite easing inflation

Business activity in Nigeria fell to a seven-month low in June 2025, despite continued declines in inflation, according to the latest Purchasing Managersโ€™ Index (PMI) from Stanbic IBTC Bank.

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Nigeria cuts 3 taxes for small businesses but triples CGT for corporates

Nigeria has introduced tax reforms that scrap three key taxes for small businesses but tripled the capital gains tax (CGT) rate for corporations.

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BREAKING: Nigeria’s President Tinubu signs tax bills into law

President Bola Tinubu has signed into law four tax reform bills that are set to transform Nigeriaโ€™s fiscal and revenue framework. The four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed on Thursday after extensive consultations with various…

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Kenya enacts tax reliefs, approves $14.5bn budget amid persistent debt pressures

The signing comes a day after Kenyans returned to the streets to commemorate victims of last yearโ€™s nationwide protests, which were sparked by the highly controversial tax reforms proposed in the Finance Act 2024.

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Why Nigeriaโ€™s Q1 GDP data is delayed and what’s at stake

Nigeria, Africaโ€™s most populous country, has yet to release its real Gross Domestic Product (GDP) data for the first quarter of 2025, and there’s cause for concern.

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South Africa secures $1.5bn World Bank loan to fix infrastructure

According to the Treasury, the loan comes with favourable interest rates and flexible repayment terms, which will help to contain rising debt service costs, projected to hit $24 billion by the end of 2026.

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Nigeria records second month of easing inflation, but oil-driven risks loom

For now, inflation appears to be cooling. But how long that relief lasts will depend on how energy markets respond to geopolitical risksโ€”and how much of those costs are passed on to Nigerian consumers, experts say.

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Dangote introduces credit-backed fuel distribution model across Nigeria

Dangote Petroleum Refinery is set to commence nationwide distribution of petrol and diesel from August 15, 2025, a move to reshape Nigeriaโ€™s fuel supply chain.

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Nigeria faces inflation, oil revenue hike as Israel-Iran war escalates

The escalating conflict between Israel and Iran is sending tremors through global energy markets, with Nigeria caught in the crosscurrents, poised to reap short-term benefits from surging oil prices while facing heightened inflation and monetary tightening at home. Crude oil prices jumped from $65 to $75 per barrel in the week following Iranโ€™s missile strikes…

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South Africa’s Transnet secures wage deal and charts course for maritime expansion

Transnet signs three-year union deal amid renewed push to expand maritime operations and partner with OEMs to diversify and penetrate Africaโ€™s logistics market

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Jamaica has officially joined Afreximbank, becoming the 13th member from the Caribbean Community, unlocking access to $1.5bn in new financing as part of a growing African-Caribbean economic alliance.


Nigeriaโ€™s Debt Management Office has refuted media reports claiming that the federal government spent $401.1m in March 2025 to service its first-ever US dollar-denominated bond issued in the domestic market.





Kenyaโ€™s private sector activity fell to an 11-month low in June 2025, as weak consumer demand, economic headwinds, and renewed protests dragged performance, according to the Stanbic Bank Kenya Purchasing Managersโ€™ Index (PMI).


Namibiaโ€™s FDI surged more than threefoldย between 2010 and 2024, reflecting sustained foreign investor confidence despite the countryโ€™s recent economic slowdown.



Ghanaโ€™s annual inflation dropped for the sixth consecutive month in June to 13.7%, marking the lowest level recorded since December 2021, according to official data released Wednesday.


South Africa has secured additional funding to tackle its long-standing energy and logistic bottlenecks, following the approval of a $475 million loan by the African Development Bank on Tuesday.


Nigeriaโ€™s June PMI fell to 51.6, the lowest in 2025, despite easing inflation. Business confidence rose to its highest since August 2022.



BREAKING: President Bola Tinubu has signed into law four tax reform bills that are set to transform Nigeriaโ€™s fiscal and revenue framework.


Kenyaโ€™s President Ruto has signed three key fiscal bills into law, ushering in broad tax reliefs and activating a $14.5bn spending plan as his government moves to ease living costs and attract investment.



South Africa has clinched a $1.5 billion loan from the World Bank to address chronic power and transport issues that have stalled growth in the industrial economy.


Nigeriaโ€™s inflation eased to 22.97% in May, its second monthly decline, but rising oil prices from Middle East tensions could reignite inflationary pressures, warns Nigeriaโ€™s CPPE think tank.


Nigeria’s Dangote is set to distribute PMS and diesel across, targets bulk users, with an added credit scheme to ease financing, amid rising energy cost and increasing idle stations.



Transnet has reached a three-year wage agreement with UNTU, refocusing attention on expanding its maritime operations, with government support.