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Category: Finance
Kenya calls on Africa to use PAPSS to ditch US dollar in trade deals
Kenya's President William Ruto has called on African leaders to take first steps towards ditching the US dollar as the world’s reserve currency by adopting ... Read More
Tunisia warns IMF against red lines as talks for loan continue
Tunisia’s Foreign Minister Nabil Ammar indicated Thursday that the North African country is still in talks with the International Monetary Fund (IMF) for a $1.9-bllion ... Read More
Africa Day 2023: AU promotes AfCFTA, rejects great-power competition in Africa
The African Union (AU) used the celebrations of the 60th anniversary of 'Africa Day' this week to warn the continent not to become a “geo-strategic ... Read More
Staff at Cameroon’s branches of Standard Chartered Bank end strike over payment of bonus
Workers at Standard Chartered Bank in Cameroon have ended a several-day strike over the payment of a severance bonus amounting to more than one month’s ... Read More
Nigeria emerges as Africa’s FDI hub of digital technology
Nigeria emerges as Africa's top destination for foreign direct investment (FDI), having reportedly attracted over 30% of the FDI in the continent’s tech ecosystem and ... Read More
Africa’s FDI in 2023 led by mining, gas sectors, but global headwinds loom
Foreign direct investment (FDI in Africa looks set for a strong 2023 thanks to some lucrative mining and gas projects, but an IMF report warns ... Read More
AfDB forecasts 2.3 growth rate for Tunisia over 2023-2024 period
Tunisia will witness a 2.3 per cent economic growth rate in 2023 and 2024, the African Development Bank (AfDB) announced Wednesday, as it presented its ... Read More
Fitch downgrades four Egyptian banks’ Issuer Default Ratings to “B”
Earlier this May, Fitch downgraded Egypt’s sovereign rating to "B" with a negative outlook. Three of the four banks, whose ratings it downgraded, are public ... Read More
Renewable Energy: Morocco called to share its successful experience – AfDB President
Morocco is called upon to share its successful experience in renewable energies with African countries, said President of the African Development Bank (AfDB) Akinwumi Adesina, ... Read More
IMF $3bn bailout package for Ghana defies Akufo-Addo’s ‘Ghana beyond aid’ policy
Ghana, formerly praised for its stability and good governance, is finally getting some breathing room after Ghanian officials announced last week (18 May) that the ... Read More