First Independent Mena Newspaper
The International Monetary Fund (IMF) has approved financing to cope with rising global food prices for Malawi, the first low-income nation to receive financing from the IMF under a new tool intended to help countries cope with global food price shocks. The number of Malawians facing food insecurity has doubled to 20% of the population […]
The government in Kenya, where about 8.5% of the population owns cryptocurrencies, has drafted a bill to tax crypto transactions in all exchanges in the country, even as the global crypto market undergoes a mass meltdown. The Capital Markets (Amendment) Bill, 2022 would allow for the taxation of crypto exchanges, digital wallets and transactions. Crypto […]
The International Monetary Fund (IMF) and South Sudan announced they have reached a staff-level agreement for the release of about $112.7 million in emergency financing, pending an approval by the IMF’s executive board. “This emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international […]
Over $4 million (2.6 billion CFA) were embezzled between January and October this year in Gabon, the Chief of Police of the central African country, has revealed. Serge Hervé Ngoma made the remark at the opening ceremony of the 28th Global Program to Fight Financial Crime, Corruption and Asset Recovery, on Monday in capital Libreville, […]
Despite general skepticism about Africa’s economic promise, Akinwumi Adesina, the chief of the African Development Bank (AfDB), who has been dubbed, “Africa’s optimist-in-chief,” believes that the future of Africa will defy everyone’s expectations. The skepticism is fueled by all the recent negative development affecting Africa: Covid-19 pandemic; the Russia-Ukraine war and its pressure on food […]
The Bill & Melinda Gates Foundation said it was committing $7 billion to Africa over the next four years, as the American billionaire and philanthropist warned that the Ukraine crisis was reducing the amount of aid flowing to the continent. Bill Gates has pledged to use 5.4% of his net worth to finance Africa’s health […]
The Egyptian government launched a fund for investment in projects issuing carbon certificates with an authorized capital of EGP 1 billion ($40.7 million). The fund, dubbed EgyCOP, will finance Egyptian companies’ projects that reduce carbon emissions through the issuance of globally-accredited certificates from Switzerland’s The Gold Standards Foundation, the Arab country said in a statement. […]
Guinea President Mamady Doumbouya has sacked the Minister of Infrastructure and Transport, Yaya Sow, under investigation since November 7 over alleged corruption attempt in his department. A statement read on the national TV RTG announcing the firing said the move was taken because of the launch of a judicial investigation by the Court of Repression […]
The recent collapse of FTX exchange platform has sent shockwaves around the world, taking with it billions of investors’ money, including in Africa where crypto investors are now taking stock of their own losses. While some users in the United States and the Bahamas were able to withdraw their funds before the full crisis hit, […]
International Finance Corporation (IFC) will invest 12.18 billion shillings ($100 million) in Nairobi-listed Diamond Trust Bank (DTB) to support small and medium enterprises (SMEs) impacted by Covid-19, Zawya reports, citing Kenyan Wall Street newspaper. The investment will be in senior debt under its Covid-19 emergency response working capital solutions scheme (WCS FIGE). IFC initiated the […]