African govts in fiscal bind amid high interest rates and debt squeeze

With the interest rates likely to stay high in 2024, governments across Africa are presented with a unique challenge and dilemma as they struggle to pay off rising levels of accumulated debt at the same time as they are being urged by the International Monetary Fund (IMF) to cut costly fuel subsidies and raise more […]

Google Wallet launches in SA amid booming digital payments usage in Africa

Alphabet Inc launched its Google Wallet in South Africa on Tuesday (23 August), after rival Apple Inc introduced its Apple Pay mobile payment system in the country last year — a sign that the tech giants try to gain a foothold in the continent’s rapidly growing digital payments space. The COVID-19 pandemic has accelerated the […]

World Bank Loans Morocco $350 mln in Support of Financial Reforms

The World Bank announced a $350 million program to support wide-ranging reforms of financial intermediation in Morocco, including new sources of financing for small and medium enterprises (SMEs). The loan also aims at improving the regulatory oversight of the banking sector and supporting the capital market development by broadening the range of instruments and strengthening […]