Tag: African Economy

South African Reserve Bank
BusinessMarkets

South African Reserve Bank raises rate to 7.25% as global risks mount

South Africa’s Reserve Bank raises its policy rate to 7.25% as fuel prices lift inflation risks and economic growth remains under pressure.

Oluwatosin Alao Oluwatosin Alao
Kenya set to receive $400 million in emergency World Bank funds ,
BusinessHot News

Kenya set to receive $400 million in emergency World Bank funds

Kenya is set to access about $400 million in emergency World Bank financing as Ebola, El Niño and high energy costs pressure the economy.

Oluwatosin Alao Oluwatosin Alao
South Africa inflation falls to 4.3%, easing pressure on consumers
Business

South Africa inflation falls to 4.3%, easing pressure on consumers

South Africa’s inflation rate fell to 4.3% in July, helped by lower fuel and food prices, easing pressure on consumers and the central bank.

Oluwatosin Alao Oluwatosin Alao
Standard Bank Office
BusinessHot News

South Africa secures $332 million AfDB, Standard Bank SME financing deal

South Africa SME financing deal unlocks $332M from AfDB and Standard Bank to boost SMEs, jobs and women-led businesses.

Timilehin Adejumobi Timilehin Adejumobi
Africa
BusinessHot News

Africa’s new credit rating agency set to launch in Mauritius

African Credit Rating Agency is set to launch in Mauritius, reshaping how investors assess African sovereign and corporate credit risk.

Timilehin Adejumobi Timilehin Adejumobi
IMF-Building
BusinessHot News

Ghana unlocks $371 million IMF funding after final program review

Ghana IMF funding reaches $371 million after the final review, ending the $3 billion program as economic stability improves.

Timilehin Adejumobi Timilehin Adejumobi
South32
BusinessHot News

South32 takes $118 million hit as Mozambique’s Mozal smelter shuts down

South32 Mozal smelter shutdown triggers a $118 million charge as soaring power costs force Mozambique's largest aluminum plant offline.

Timilehin Adejumobi Timilehin Adejumobi
World Bank
BusinessHot News

Nigeria lands $1.3 billion World Bank package to drive business growth

Nigeria World Bank package unlocks $1.3 billion to boost infrastructure, jobs, investment and business growth.

Timilehin Adejumobi Timilehin Adejumobi
IMF Building
BusinessHot News

IMF backs Congo with nearly $350 million in new funding

IMF backs Congo with new funding worth $350 million to boost mining growth, infrastructure and climate resilience.

Timilehin Adejumobi Timilehin Adejumobi
De Beers Group
BusinessHot News

Botswana engages UAE and Oman over De Beers stake acquisition

Botswana De Beers stake acquisition talks expand as Botswana engages UAE and Oman for backing amid Anglo American exit from De Beers.

Timilehin Adejumobi Timilehin Adejumobi
President João Lourenço, President Oligui Nguema sign three deals to deepen Angola-Gabon
BusinessTechnology

Angola, Gabon deepen ties with new cooperation agreements across Africa

Africa’s growing focus on regional cooperation was on display this week as Angola and Gabon signed new agreements aimed at expanding trade, strengthening investment ties and building industries beyond oil.  The accords, reached during high-level talks in Luanda, reflect a wider shift across the continent as resource-rich nations work to broaden their economies, create jobs and reduce long-standing dependence on…

Oluwatosin Alao Oluwatosin Alao
AFREXIM-BANK-BUILDING
BusinessHot News

Afreximbank unveils $10 billion plan to shield Africa from Mideast crisis

Afreximbank approves $10 billion in support to shore up FX liquidity and critical imports across vulnerable African markets.

Timilehin Adejumobi Timilehin Adejumobi