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Category: Finance
Africa’s ultra-wealthy population to grow by 65% in next decade but thousands flee their home — report
Africa has seen a rise in its number of billionaires and its millionaire population is set to rise by 65% over the next 10 years, ... Read More
IMF sees Morocco’s economic growth at 3.1% in 2024, 3.3% in 2025
The IMF said Morocco’s economic growth would pick up slightly to 3.1% this year and 3.3% next year, forecasting a return of inflation to pre-pandemic ... Read More
Chinese oil firm loans Niger $400 million
China National Petroleum Corporation (CNPC) agreed to offer a loan of 400 million dollars to the Niger government, which is struggling with the impact of ... Read More
South Africa’s Rand depreciates after poll showing Zuma’s political return
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
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
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
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
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
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
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