Home » Posts tagged with » World Bank

Week-long national prayers kick-off in Burundi

Thousands of Burundians have gathered at the stadium of the province of Kayanza for a week-long prayer organized by President Pierre Nkurunziza and his family. The objective of the move, according to the First Family, is to thank God for his actions in Burundi throughout the year, but also to entrust him with the year […]

Cairo seeks World Bank intervention in Ethiopia’s Nile dam saga

The Egyptian government on Tuesday requested that the World Bank intervene to resolve tensions with Ethiopia over a massive dam on the Nile River. According to Egypt’s Foreign Minister Sameh Shoukry, who was speaking in Addis Ababa after a 10-month impasse, the World Bank must intervene to end tension between the two nations. The controversial […]

Read More

Morocco Receives $200 Mln WB Loan to Boost Agri-business Sector

The World Bank has lent Morocco $200 million to help the North African Kingdom strengthen its agricultural value chains for greater inclusion of small and medium producers. With the increased productivity of Morocco’s agriculture sector over the past few years, driven by ambitious reforms under the Agriculture Plan, Plan Maroc Vert (PMV), the country aims […]

Read More

World Bank, AFD Partner with Morocco in support of AAA initiative

The World Bank and the French Development Agency (AFD) decided to partner with Morocco to implement the Adaptation of African Agriculture Initiative, through a one million Euro Funding. The Memorandum of Understanding related to this partnership was signed in Paris Tuesday on the sidelines of the One Planet Summit that saw the participation of King […]

Read More

World Bank downgrades Kenya growth forecast

The World Bank on Wednesday said it has slashed 2017 growth forecast for Kenya’s economy to 4.9 percent due to drought, sluggish credit growth and post-election saga. The country’s economic outlook was earlier in the year adjusted downwards to 5.5 percent from 6 percent growth owing to unfavorable weather conditions that drove up the rate […]

Read More

Switzerland to return $321m confiscated funds to Nigeria

Switzerland will soon return to the Nigerian government $321m confiscated from Nigerian dictator Sani Abacha’s clan, Swiss government said on Monday. According to Transparency International, Sani Abacha looted up to $5 billion of public money during the five years he ran Africa’s most populous nation, from 1993 until his death in 1998. He was investigated […]

Read More

Sub-Saharan Africa to record slow growth – WB’s Africa Pulse report

Sub-Saharan Africa’s economy is growing more slowly this year than expected, the World Bank said on Wednesday. According to the Bretton Wood institution’s Africa Pulse report, the slow growth of the region is largely due to weak investment and productivity. The Bank said the downgrade to 2017 projections was due to various conditions, including the […]

Read More

Ethiopia devalues Birr to cope with foreign currency crunch

The National Bank of Ethiopia (NBE) on Tuesday announced a devaluation of the country’s currency, the birr by 15% in a bid to cope with the serious foreign currency crunch it has faced. According to the reserve bank, along with the devaluation, interest rates on deposits have been increased by 2% to stand at 7%. […]

Read More

Senegal: National revenue records a surplus of 560 billion CFA

Senegal’s economy has recorded a revenue surplus of over 560 billion CFA, data from the West African nation’s office of economic planning, policies and finance revealed. The economy may grow 6.8 percent this year, the most in sub-Saharan Africa after Ethiopia and Ivory Coast, according to the International Monetary Fund. Senegal is one of the […]

Read More

Ghana launches free High School program for 400,000 students

Ghana’s president Nana Akufo-Addo on Monday launched his government’s flagship education program, Free Senior High School, to enroll about 424,092 students during the 2017/2018 academic year. The Policy seeks to increase access to Secondary Education by removing the burden of paying fees from parents. The free SHS and vocational education and training (TVET) program is […]

Read More