First Independent Mena Newspaper
An International Monetary Fund (IMF) mission is scheduled to arrive in Cairo in early December 2025 to conduct the fifth and sixth reviews of Egypt’s $8 billion Extended Fund Facility (EFF) and the first review under the $1.3 billion Resilience and Sustainability Facility (RSF), according to Julie Kozack, Head of the IMF’s Communications Department. Speaking […]
Sub-Saharan Africa’s economy is expected to grow by 3.8% in 2025, a modest but meaningful rebound driven by easing inflation, stabilizing currencies, and improving investment conditions, according to the World Bank’s latest Africa Pulse report released Tuesday (7 Oct). The forecast marks an upgrade from April’s 3.5% projection and reflects renewed optimism in key economies […]
Despite mounting global economic uncertainties, East Africa remains on a steady growth path, driven by investments in infrastructure, energy, agriculture, and digital innovation. According to a recent Deloitte’s 2025 East Africa Economic Outlook, the region is set to be the fastest-growing on the continent, even as high inflation, rising debt, and currency volatility pose significant […]
Nigerian naira, Malawian kwacha and Rwandan franc have been named the worst-performing African currencies against the US dollar in 2024, according to a latest report, having faced an array of challenges, from persistent trade imbalances, dwindling foreign reserves, to political instability. Some African nations strengthened their currencies, while others faced worsening exchange rates in 2024. […]
Nigeria’s senate plans to pass legislation to criminalize the export of corn amid concerns over hunger and rising staple prices in Africa’s most populous nation. Nigeria has been grappling with a worsening food inflation which surged to 39.16% in October this year. This inflation has been exacerbated by climate conditions, currency devaluation and the removal […]
As many as 18 million Ghanaians are expected to cast their vote on 7 December to elect the country’s new president with concerns about inflation, unemployment and debt high on their priority list. Despite a tight race for the presidency, which will be contested between vice president Mahamudu Bawumia and former president John Mahama, analysts […]
Higher food prices triggered a surge in the inflation rate to 33.9% in Nigeria in October, up from 32.7% a month earlier, the national statistics agency said. The jump was attributed to a steep rise in the prices of staples such as maize, rice, and cooking oil, the agency said. In a bid to tame […]
According to data released by the National Institute of Statistics (INS), the inflation rate in October 2024 held steady at 6.7%. This overall stability reflects a mix of accelerating and slowing price trends across different categories. On one side, the rise in the inflation rate is driven by sharper year-on-year increases in the “restaurant, cafe, […]
Africa will play a “huge role” in America’s critical mineral strategy, says US Deputy Treasury Secretary Wally Adeyemo who used his five-day trip to South Africa to express his country’s ambitions of securing metals needed for the global energy transition. Africa’s natural richness, which includes many so-called critical minerals, such as chromium, cobalt, copper, gold, […]
As the Muslim holy month of Ramadan begins on Monday or Tuesday (11-12 March), depending on the sighting of the new moon, Muslims in parts of Africa are bracing themselves for more subdued celebrations amid soaring food prices and continuing violence in Sudan, Gaza and elsewhere in the continent. UN Secretary-General Antonio Guterres and the […]