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 African nations are facing mounting fiscal strain as they increasingly turn to domestic banks to fund government budgets, the International Monetary Fund (IMF) warned in its latest Regional Economic Outlook. With global capital markets still hesitant and aid flows uncertain, governments are borrowing more at home — paying higher rates and placing pressure on […]
At 85, Peter Mutharika has reclaimed Malawi’s presidency in a dramatic political comeback, nearly a decade after losing the office in a court-overturned election. Sworn in on Saturday (4 Oct) at Kamuzu Stadium, he now becomes Africa’s second-oldest sitting leader — second only to Cameroon’s Paul Biya. Mutharika won a decisive 56% of the vote […]
Niger’s Prime Minister Ali Mahaman Lamine Zeine delivered a scathing address at the United Nations General Assembly, accusing France of actively undermining his country’s sovereignty through what he called a “sneaky and subversive destabilization plan.” Zeine alleged that since French troops were expelled from Niger in 2023, Paris has been “training, financing, and equipping terrorists” […]
Kenya is set to become East Africa’s largest economy by 2025, overtaking Ethiopia, according to new projections from the International Monetary Fund (IMF). The IMF forecasts Kenya’s GDP will reach $132 billion, surpassing Ethiopia’s projected $117 billion. This shift is driven by divergent economic strategies. Ethiopia’s decision to devalue its currency, the birr, by over […]
Ghana’s vice president and ruling New Patriotic Party (NPP) candidate, Mahamudu Bawumia, has conceded defeat in the country’s highly contested presidential election and congratulated his main opponent, former president John Dramani Mahama, for winning another term as the west African country’s leader. “The people of Ghana have spoken, the people have voted for change at […]
Zimbabwe has initiated ambitious plans to address its $12.7 billion external debt through a high-level conference bringing together creditors and finance executives. The meeting, featuring President Emmerson Mnangagwa and African Development Bank leadership, aims to chart a path toward clearing arrears and accessing international capital markets. The nation’s debt burden, representing 81 percent of GDP, […]
As finance ministers and central bank governors of the G20 convene in Brazil this week (25-26 July), high on the agenda will be the International Monetary Fund’s (IMF) strategy to tackle Africa’s debt challenges, particularly the critical need for sustainable debt management and economic reforms. The IMF heads to Brazil G20 on a mission to […]
Currently a minor player in the rare earth market, African mines have the potential to supply almost 10% of the world’s rare earth elements by 2029, thereby introducing alternative suppliers into a market currently dominated by China, according to a latest forecast by Benchmark Mineral Intelligence. China’s current domination of the global market for rare […]
Escalating attacks by Yemen’s Houthi rebels on ships in the Red Sea have not only unraveled a key global trade route, sending shipping and insurance costs soaring, but they are also threatening to again push up the cost of living in Africa that is already struggling with crippling debt. The Red Sea crisis and the […]