Category: Finance

South Africa’s Rand depreciates after poll showing Zuma’s political return

April 15, 2024

A Bloomberg report on a poll showing a drop in ANC popularity ahead of the upcoming elections was enough to plunge South Africa’s currency, the ... Read More

Morocco’s economy grows 2.9% in 2024 first quarter despite drought

April 8, 2024

Morocco’s economic growth stood at 2.9% in the first three months this year, despite drought that undermined agricultural production. Led by domestic demand, non-agricultural growth ... Read More

Inflation-hit Zimbabwe launches new gold-backed currency

April 6, 2024

Zimbabwe has finally launched a gold-backed currency to bring down inflation, ending a decade of dollarization. The new currency or Zig- standing for Zimbabwe Gold- ... Read More

Washington funds projects in Laayoune & Dakhla, confirming U.S. recognition of Moroccanness of Sahara

April 4, 2024

The U.S. government has decided to finance economic empowerment projects in the Moroccan Saharan cities of Laayoune and Dakhla, confirming Washington’s recognition of Morocco’s sovereignty ... Read More

The six African countries with highest debt to GDP ratios

April 4, 2024

Sudan, Cabo Verde, Mozambique, Republic of the Congo, and Egypt have been listed as countries with the highest debt to GDP ratio in the African ... Read More

IMF gives go-ahead for $8 billion loan to Egypt

March 31, 2024

The IMF agreed to offer Egypt a loan worth 8 billion dollars under an Extended Fund Facility to support the country’s economic stability. Following its ... Read More

AfDB allocates $4.5 mln to improve governance in 14 African municipalities

March 28, 2024

The African Development Bank said it has allocated $4.5 million to back projects in 14 African municipalities. In a statement, the bank said that 500,000 ... Read More

Tanzania central bank to sell dollars to commercial bank amid liquidity crisis

March 27, 2024

Tanzania’s central bank will begin selling US dollars to commercial banks to boost liquidity amid high demand for foreign currencies. “The initiative aims to ensure ... Read More

Ethiopia’s CBE in quest to retrieve $40 mln withdrawn during glitch

March 25, 2024

The Commercial Bank of Ethiopia (CBE), the biggest lender in the country, issued a deadline, asking people who have withdrawn or transferred money from the ... Read More

EU to offer Tunisia about €165 million to curb migration

March 25, 2024

The EU plans an aid of up to €164.5 over three years to help Tunisia stop migrants from crossing to Europe, the Financial Times reported. ... Read More