South Africa: Saudi Arabia pledges $10bn energy-focused investment
Saudi Arabia will invest $10 billion in South African economy in the coming years with a key focus on the energy sector, President’s Cyril Ramaphosa’s […]
Finance
Nigeria’s Parliament to probe state oil company over ‘under-remittances’
Nigerian lawmakers of the lower house on Tuesday voted a motion to investigate state oil firm over ‘insufficient’ remittances to government coffers. The move comes […]
World Bank approves $455 million loan for Tanzania power projects
The World Bank has approved a $455 million loan to Tanzania under its International Development Assistance (IDA) program to boost access to power for the […]
Libya central bank to impose fees on foreign currencies
Officials of Libya’s internationally recognized government have agreed to a three-track reform process including a proposal to impose fees on foreign currency transactions in the […]
IFC gives BOA $60M to support SMEs in 8 African countries
The International Finance Cooperation, a member of the World Bank Group, announced earlier this week a $60 million investment in a regional risk-sharing facility to […]
Burkina Faso: BOAD grants $72M for development projects
The West African Development Bank (BOAD) approved a $72 million financing to Burkina Faso for the implementation of development projects, Xinhua reported, quoting official sources. […]
Kenya proposes new corporate tax rate, highest in East Africa
Kenya’s treasury has proposed a 35 percent corporate tax for companies on annual income of more than $4.9 million, the highest corporate income tax rate […]
Liberia reduces import taxes by half on over 2,000 commodities
Liberian President George Weah on Wednesday announced plans to reduce import taxes on more than 2,000 commodities to combat rising inflation in the West African […]
EBRD Distinguishes Morocco for Agricultural Sustainability
Morocco received the 2018 sustainability award of the European Bank for Reconstruction and Development (EBRD) for its project to protect the irrigated plain of Saiss. […]
African nations at risk of debt distress despite growth – IMF
The International Monetary Fund on Tuesday warned that Sub-Saharan African nations are at growing risk of debt distress. This came in the IMF regional economic […]