Uganda’s central bank raises benchmark rate to 17.0%
Uganda’s central bank raised its benchmark interest rate for the fifth consecutive meeting after a weaker currency boosted inflation to a two-year high. The bank […]
Finance
Angola cuts budget by 50% as oil prices fall
The government of Angola, sub-Saharan Africa’s second-largest crude producer, cut spending by half this year following a plunge in oil prices. Vice President Manuel Vicente […]
Nigeria: IMF urges central bank to review forex policy
The African Department Director at the International Monetary Fund (IMF) Antoinette Sayer has called on the Central Bank of Nigeria (CBN) to review its foreign […]
UN, IMF, IDB seek billions to rebuild Middle East
The United Nations, the World Bank and the Islamic Development Bank announced a joint initiative on Saturday to scale-up financing in the Middle East and […]
Egypt ventures into Iraq for oil
Egypt has acquired 10% of the concession of Kuwait Energy, a private firm, on an oilfield in Basra, southern Iraq. Egyptian Petroleum minister Tarek El-Molla […]
Nigeria: Central Bank to retain forex controls amid slow growth
Nigeria’s central bank plans to retain foreign currency controls because of concerns about slowing growth rate, a senior bank official said on Wednesday as Africa’s […]
Chad: Boko Haram plunges GDP forecast to 1%
The International Monetary Fund (IMF) said on Friday that Chad’s GDP will contract to 1 percent this year as compared to the 5 percent growth […]
Algeria-EU: Algiers rejects EU’s media project grant
Algerian Minister of Communication rejected Thursday EU’s grants for Algeria’s communication and media reforms. EU’s Foreign Policy Chief Federica Mogherini who was visiting Algeria could […]
Mali: Weakening manufacturing output to slow economy to 4.9 %
Mali’s economic growth is set to slow this year to 4.9 percent, because of weakening manufacturing output, despite a strong harvest, the International Monetary Fund […]
Guinea: China to build $2 bln hydropower dam
Guinea is in talks with China International Water & Electric Corp. to build a $2 billion hydropower dam that would boost the West African country’s […]