Forex: falling euro drags CFA franc down, importing inflation and deepening debt

With the euro having recently declined to less than one US dollar, this development has a direct impact on the CFA franc, which has a fixed exchange rate parity value with the single European currency. The euro’s continued to slide toward the US dollar since 5 July has resulted in a 20-year low, according to […]

Somaliland rejects Uganda’s offer to facilitate reunification talks with Somalia

Somaliland, a breakaway region that declared autonomy from Somalia in 1991, has said it has no plans to discuss reunification with Somalia despite the Ugandan President Yoweri Museveni’s announcement he was willing to act as a “unification mediator” between the two governments. “Any dialogue that transpires between Somaliland and Somalia will not discuss unification, but […]

IFC loans Express Union Tchad around $3m to boost access to finance for underserved communities

The International Finance Corporation, IFC, has provided a loan worth close to $3 million to Chad’s leading microfinance Express Union Tchad (EUT) to boost access to finance for underserved communities —particularly women and those in rural areas, bolster the microfinance sector, and help drive economic growth, the World Bank’s branch for private sector financing said […]