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, […]
Finance
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 […]
AfDB Rallies African Leaders on Global Finance Reform
At the African Development Bank’s 2024 Annual Meetings in Nairobi, Kenya, the institution showcased its role as a “Solutions Bank” driving Africa’s transformation agenda through […]
Ghana agrees to restructure $5.4 billion in debt with new MoU
Ghana has signed a memorandum of understanding (MoU) with bilateral creditors, including China and France, to restructure $5.4 billion of debt. This agreement is crucial […]
Currency Conundrum: Zimbabwe’s Golden ZiG Battles Mistrust Amid Heavy-Handed Enforcement
The Zimbabwean government launched a new currency called the ZiG, backed by gold, in an attempt to replace the struggling Zimbabwe dollar. They launched a […]
Ghana’s Cocoa Authority to Secure $1.5 Billion Loan for 2024-25 Cocoa Bean Acquisitions
Ghana’s cocoa regulator, COCOBOD, is planning to secure up to $1.5 billion in loans by September to finance cocoa purchases for the 2024/25 season and […]
Kenyan Economy Expands at 5.6% Rate in 2023, Outpacing Prior Year
Kenya’s economic growth accelerated to 5.6% in 2023, a marked increase from the revised 4.9% expansion recorded in the previous year. This robust performance was […]
AfDB Chief Urges Revamping African Media to Reshape Continent’s Global Story
The President of the African Development Bank Group, Dr. Akinwumi Adesina, passionately called for more balanced media coverage of Africa’s development, stating it is critical […]
Africa’s Path to Prosperity: Monetizing Renewable Resources as Carbon Credits
The 2024 Economic Report on Africa by the United Nations Economic Commission for Africa states that African nations could generate a new revenue stream by […]