African-development-Bank

Algeria: Will the Military Intervene ?

With the political crisis deepening in Algeria wherein social anger is mounting and the economic situation is worsening, the struggle for power between the elite generals and the politicians is intensifying as the ailing president Abdelaziz Bouteflika, 81, braces, for a controversial fifth term in office. Despite the military and security purge carried out lately […]

Equatorial Guinea’s leader slams Spain for “interference” as its court opens probe into alleged torture

Equatorial Guinea’s Vice-President Teodoro Nguema Obiang Mangue, who is also the son of the president, has accused the country’s former colonial power Spain of „interference” after the country’s judiciary opened an investigation into the “kidnapping” and “torture” of two Spanish nationals in the West African state’s capital Malabo. The two Spanish nationals, Feliciano Efa Mangue […]

Remittance costs in Sub-Saharan Africa remain high despite fintech’s effort to slash fees

Sub-Saharan Africa remains the world’s most expensive region when it comes to transferring remittances, with an average cost of transferring money of 8.37% in the second quarter of 2024, according to the World Bank’s most recent report. This cost remains significantly above the global average, despite the increasing importance of remittances in the region’s economies. […]