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 banks exposed to the state. Rating agency Fitch downgraded on May 17 the credit ratings of four major Egyptian banks, namely The National Bank of Egypt (NBE), Banque Misr, Banque […]
As the Muslim holy month of Ramadan begins on Monday or Tuesday (11-12 March), depending on the sighting of the new moon, Muslims in parts of Africa are bracing themselves for more subdued celebrations amid soaring food prices and continuing violence in Sudan, Gaza and elsewhere in the continent. UN Secretary-General Antonio Guterres and the […]
The African Union (AU) Peace and Security Council has officially reinstated on April 30 Gabon into its fold, lifting all sanctions following a favorable review of the country’s political transition. The decision, taken during the Council’s 1,277th meeting, acknowledged that Gabon’s post-coup processes were “generally successful,” according to PSC Chairperson Rebecca Amuge Otengo. The country […]
