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 […]
Finance
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 […]
China inks 15 bln yuan currency swap agreement with Nigeria
China’s central bank on Thursday signed a three-year bilateral currency swap agreement with Nigeria. The agreement will allow the two nations to swap a total […]
Kenya’s economic growth to rebound in 2018
Kenya’s economy is expected to grow 5.8 percent this year compared with an estimated 4.8 percent in 2017, thanks to drought cut and less political […]
Billions of dollars in remittances flowed to Africa in 2017 – Report
The World Bank and other development partners have revealed that the total money transfers by African migrants to their region or country of origin surged […]
Mauritius’ SBM Bank completes acquisition of Kenya’s Chase Bank
Mauritius’ banking group SBM Holdings will inject an additional $60 million into Kenya’s Chase Bank in a month’s time, SBM Holdings Chairman Kee Chong Li […]