China tests global yuan ambitions in Africa’s financial shift
China is rapidly expanding the use of its currency, the yuan, across Africa, positioning the continent as a strategic testing ground for its broader de-dollarization […]
currency
National Security Uncovers Currency and Gold Bars in Sapeiman Raid
Ghana’s National Security officials have seized a large cache of hidden currency, including U.S. dollars and Ghana cedis, from twelve 20-foot shipping containers in Sapeiman, […]
Gross credit to the Angolan non-financial sector grew 25% in August
Gross credit to Angola’s non-financial sector surged by 25% in August 2023 compared to the same period in 2022, reaching 7.3 trillion kwanzas (€6.9 billion), […]
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 […]
Zimbabweans Compelled to Utilize US Dollar Amid Delay in Introduction of New Currency, ZiG
Informal traders in Zimbabwe, comprising approximately 75% of the nation’s workforce, have ceased accepting the ZIMdollar, also known as the RTGS dollar, due to concerns […]
Zimbabwe Launches New Currency Amid Economic Turmoil
On Friday, Zimbabwe introduced a new currency, ZiG, to stabilize its economy and replace the previously depreciating currency, which faced rejection by its citizens. This […]
Egypt to elect new President in early December 2023
Egypt’s presidential election will be held from December 10 to 12, rather than in the spring of 2024 as the Constitution allows, a deadline shortened […]
Angola’s currency to fall to 1,000 kwanzas per dollar this year
The BMI consultancy believes that the Angolan currency will continue to depreciate, reaching the end of the year worth around 1,000 kwanzas per dollar, a […]
Kwanza loses 3.6% against the dollar last week and falls 38.8% since January
The Angolan currency lost 3.6% in value against the dollar last week, despite a slight recovery between Wednesday and Friday, and has already fallen 38.8% […]
IMF agrees $1 billion loan to cash-strapped Kenya
The International Monetary Fund (IMF) announced on Tuesday that it had reached an agreement for a $1 billion (927 billion euros) loan for Kenya, an […]