East African economies will decline this year driven due to political instability, unreliable rainfall and reducing agricultural yields, says the latest Macroeconomic Outlook Report for East Africa published by Deloitte, the world’s largest consulting firm. The report that covered Ethiopia, Kenya, Rwanda, Tanzania and Uganda shows that the region’s gross domestic product (GDP) has been […]
German media and publishing group Bertelsmann has merged its customer service business with Morocco’s Saham, creating a new market leader in Europe, Africa and the Middle East. Each will hold 50% of the new company branded as Arvato, which operates in 25 countries with 48,000 employees on its payroll offering services across the market for […]
Experts at a recent 57th Conference of African Ministers of Finance emphasized the need for African governments to prioritize local currencies for trade and transactions. Hanan Morsy, chief economist of the UN Economic Commission for Africa, highlighted that reducing reliance on the U.S. dollar would protect Africa’s economies from external financial shocks. Africa’s use of […]
