Liberian President Slashes Salary in Gesture of Fiscal Responsibility
Liberian President Joseph Boakai has announced a 40% reduction in his annual salary, cutting it from $13,400 to $8,000. This move aims to set an […]
Finance
Nigeria’s Fuel Subsidy Dilemma Deepens as Debt to Suppliers Soars
Nigeria’s state oil company NNPC faces mounting challenges as its debt to gasoline suppliers has surged to over $6 billion, doubling since April. This financial […]
Kenya Faces Fiscal Dilemma as Ruto Opts for Borrowing Over Tax Hikes
In the wake of rejected tax increases and violent protests, Kenyan President William Ruto has announced plans to borrow heavily to address the country’s growing […]
Ethiopia attracts most FDIs in east Africa – UNCTAD
Ethiopia outperformed its east African neighbors in attracting foreign direct investments (FDIs) in 2023, according to the UN Conference on Trade and Development (UNCTAD). Ethiopia […]
Morocco’s Central Bank Lowers Key Rate to 2.75 % & Expects Growth to Reach 4.5 % in 2025
Morocco’s central Bank has decided to lower its key rate by 25 basis points to 2.75 percent and expects the country’s economic growth to reach […]
Ghana Nears $13 Billion Debt Restructuring Deal with International Bondholders
Ghana is on the brink of finalizing a significant debt restructuring agreement with its international bondholders, potentially reshaping $13 billion of its external debt. This […]
Burundi: 2024/25 Budget to Increase by Nearly 16% Due to Unfreezing of Civil Servants’ Salary Bonuses
Burundi’s Finance Minister, Audace Niyonzima, announced on Thursday that the country’s budget for the 2024/25 financial year, starting in July, will increase by 15.9% to […]
Ethiopia seeks $7bln loan from IMF, WB
Ethiopian authorities seek to borrow 3.5 billion dollars from the IMF and a similar amount from the World Bank to meet its hard currency needs, […]
Africa Hemorrhaging Billions Yearly in Illegal Gold Exports, Study Finds
Massive amounts of gold, worth billions of dollars, are illegally smuggled out of Africa annually, with most of it ending up in the United Arab […]
AfDB’s economic outlook: Africa’s resilient economies set for stronger growth in 2024
African economies remain resilient and its growth potential in 2024 is “remarkable,” despite challenges that are testing the global economy, says the latest African Development […]