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On Wednesday, the Zambian Government welcomed the conclusion of the IMF-supported Extended Credit Facility programme following the approval of the sixth and final review by the IMF Executive Board. The decision triggers an immediate disbursement of $190 million, bringing total funding under
the 38-month programme to $1.7 billion.
In a statement issued on Wednesday, the IMF noted that Zambia has maintained broadly sound macroeconomic policies and rebuilt policy credibility despite major external and domestic shocks.
Finance and National Planning Minister Situmbeko Musokotwane described the outcome as a key milestone, marking a transition from stabilisation to a growth-focused reform phase.
He said the completion of the programme demonstrates sustained reform implementation and strengthens fiscal discipline, while aligning with the government’s medium-term fiscal strategy. Musokotwane added that Zambia plans to engage the IMF on a successor programme to prioritise
growth, investment, job creation and expanded productive capacity.
Source : https://english.news.cn/africa/20260129/036d0ff412844836967aeb3b1abb0238/c.html
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Bank of Ghana Cuts Policy Rate by 250 Basis Points as Inflation Eases
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Ghana’s central bank on Wednesday announced a further 250-basis-point reduction in its benchmark lending rate to 15.5 percent, aiming to support economic growth after inflation eased.
Speaking at the Monetary Policy Committee (MPC) press conference, Bank of Ghana Governor Johnson Asiama said monetary conditions remain tight despite the cut, given ongoing inflation dynamics.
Asiama noted that inflation has fallen faster than expected, with stable expectations and improved macroeconomic conditions supported by fiscal consolidation, tight monetary policy and rising reserves. The Central bank expects headline inflation to remain within the medium-term target range of 6 to 8 percent, barring risks from utility price increases and commodity market volatility.
He said policy focus is gradually shifting from stabilisation to consolidating gains, strengthening real sector recovery, boosting job creation and improving financial intermediation. Asiama added that sustaining Ghana’s macroeconomic progress would depend on disciplined fiscal policy, strong
coordination and targeted agricultural interventions to contain food inflation. In December 2025, the IMF disbursed an additional $385 million to Ghana after favourable reviews of its reform programme.
Source: https://english.news.cn/africa/20260129/39ade0fc12a946878009a2bb8829d781/c.html
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Mozambique Cuts Policy Rate as Inflation Hits 13-Month Low
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Mozambique’s Central bank on Wednesday reduced its main interest rate by 25 basis points to 9.25 percent, marking a second consecutive cut following a similar decision in November 2025. The move comes as annual inflation slowed to 3.23 percent in December, down from 4.38 percent in November, its lowest
level in 13 months.
However, analysts warn that inflation could rebound due to factors such as monetary financing of the budget deficit, the resumption of major liquefied natural gas projects and a possible devaluation of the metical.
Recent severe floods, which have caused infrastructure damage estimated at $644 million, could also exert upward pressure on prices.
Source: https://www.trtafrika.com/english/article/c30b3f979f3b
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Police disperse Lagos protest over slum demolitions, at least 17 injured
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Nigerian police on Wednesday fired live bullets into the air and tear gas to prevent protesters from entering the Lagos State House of Assembly complex in Alausa, during demonstrations against forced evictions and demolitions in several slum communities. At least 17 people were reportedly injured, with several arrests made.
The protest, organised by the Coalition Against Demolition, Forced Eviction, Land Grabbing, and Displacement, began around 7:00 am at Ikeja Underbridge, drawing residents from communities including Makoko, Owode Onirin, Oworonshoki, Otumara, Baba-Ijora, and Ajegunle. Demonstrators accused the state government of demolishing homes without consultation, compensation, or resettlement, displacing thousands, while organisers insisted the protest remained peaceful.
Tensions rose when police blocked access to the assembly complex, with Lagos State Police Commissioner Moshood Jimoh citing security concerns. Protest leaders challenged the restriction, referencing a December 17, 2025 protest by the Nigeria Labour Congress that had been allowed access. Lawmakers who briefly addressed the crowd later withdrew as tensions mounted, after which police deployed tear gas and chased demonstrators. Journalists covering the protest were also affected.
The incident comes amid ongoing demolitions in Lagos, particularly in waterfront and informal settlements. In December 2025, demolitions began in Makoko, while on January 22, the coalition reported at least 12 deaths and mass displacement linked to demolitions in multiple communities.
Human rights lawyer Femi Falana cited court rulings from 2017 and August 2025 prohibiting forced evictions, while the Lagos State Government defended the demolitions as necessary for public safety and environmental protection.
Source: https://www.aa.com.tr/en/africa/nigerian-police-fire-live-bullets-tear-gas-at-protesters-in-lagos-
injuring-17/3813547
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Ethiopia: Abiy meets US officials to deepen security and diplomatic cooperation
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Ethiopian Prime Minister Abiy Ahmed on Wednesday held talks with US Deputy Secretary of State Christopher Landau and US Africa Command (AFRICOM) Commander Gen. Dagvin Anderson to strengthen bilateral relations and regional cooperation, Ethiopian officials said.
Abiy described the discussions as constructive and based on mutual respect. The US delegation also met separately with Defence Minister Aisha Mohammed and Foreign Minister Gedion Timotheos, focusing on enhancing diplomatic and military ties. Ethiopia’s Defence Ministry said both sides agreed to collaborate on protecting national interests and addressing regional security
challenges, including counterterrorism.
The visit coincided with celebrations marking the 90th anniversary of the Ethiopian Air Force, attended by the US officials. Gen. Anderson said the engagement reaffirmed the long-standing partnership between Ethiopia and the United States and laid the groundwork for future security cooperation in the
Horn of Africa.
The meetings took place amid renewed regional diplomacy following a January 16 letter from US President Donald Trump to Egyptian President Abdel Fattah el-Sissi proposing fresh negotiations over the Grand Ethiopian Renaissance Dam, with mediation efforts aimed at resolving disputes over Nile
water sharing.
Source: https://www.aa.com.tr/en/africa/ethiopia-s-premier-discusses-security-cooperation-with-senior-us-
officials-in-addis-ababa/3813289
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Kenya: Moody’s Upgrades Kenya’s Credit Rating, Citing Improved Liquidity and Lower Default Risk
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Global ratings agency Moody’s upgraded Kenya’s sovereign credit rating to B3 from Caa1 and revised the outlook to stable, citing a significant reduction in near-term debt default risk. In a statement on Tuesday, Moody’s said the upgrade was driven by strengthened external liquidity and improved access
to domestic and international financing.
The agency highlighted higher foreign exchange reserves, a narrower current account deficit and a more stable exchange rate, noting that reserves stood at $12.2 billion, according to the Central Bank. Moody’s projected that Kenya’s fiscal deficit would remain at 6 percent of GDP, while public debt would stabilise at 67 percent of GDP.
Reacting on Wednesday, Principal Secretary at the National Treasury Chris Kiptoo said the upgrade reflects Kenya’s improved capacity to meet external obligations and reduced refinancing pressures. He added that the stable outlook signals confidence in the sustainability of recent gains, supported by
ongoing reforms and better access to international capital markets.