Angola launches $500 million-National Employment Fund
The Angolan government on Tuesday August 6 launched the Angolan National Employment Fund (FUNEA), worth $500 million (€462 million), to create and support public and […]
Finance
Kenya: Appeals Court Strikes Down 2023 Finance Act, Challenging Ruto’s Economic Agenda
In a significant legal setback for President William Ruto’s administration, Kenya’s Court of Appeal has declared the government’s 2023 finance law unconstitutional. This ruling comes […]
Ethiopia Secures Crucial IMF Funding Amid Economic Reforms
Ethiopia has taken a significant step towards economic stability by reaching an agreement with the International Monetary Fund for a $3.4 billion financing program. This […]
AfDB grants $260 million loan to strengthen agricultural sector in DRC
The Board of Directors of the African Development Bank Group approved a loan of $260.4 million to the Democratic Republic of Congo (DRC) to help […]
Casablanca Finance City increases focus on African business growth
Morocco is positioning itself as a prime destination for investors, thanks to a robust legal and financial framework, according to Abdelghani Lakhdar, Secretary General of […]
IsDB to Fund 145 km Road Project in Cameroon, Boosting Regional Connectivity
A delegation of the Islamic Development Bank (IsDB) is currently visiting Cameroon to advance plans for financing the construction of a 145-kilometer section of the […]
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 […]
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 […]