Tag: Economy

UK-based Zimbabweans became the country’s top senders.
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Diaspora Dollars: How UK-based Zimbabweans became the country’s top senders

Zimbabwe received a record $2.45 billion in diaspora remittances in 2025, as the UK narrowly overtook South Africa as the top source.

Omokolade Ajayi Omokolade Ajayi
Egypt
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Egypt leads Africa with $15 billion in foreign direct investment despite continental drop

Egypt pulled in $15 billion in foreign direct investment to lead Africa in 2025, anchoring continental inflows alongside Morocco and South Africa.

Omokolade Ajayi Omokolade Ajayi
Sasini Tea Estate in Kenya, where tea, avocado, and macadamia crops are cultivated and harvested.
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Kenya eyes $8.3 billion agricultural plan to boost growth, slash food imports

Kenya launches a $8.3 billion agricultural plan, targeting private investors to fund a five-year overhaul to slash food imports and boost growth.

Omokolade Ajayi Omokolade Ajayi
The Central Bank of Nigeria.
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Oil exports lift Nigeria’s current account surplus to $4.98 billion in Q1 2026

Oil and gas export growth lifted Nigeria's current account surplus to $4.98 billion in Q1 2026 as refined petroleum imports plummeted.

Omokolade Ajayi Omokolade Ajayi
Zimbabwe's Parliament building
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Zimbabwe hikes minimum wage by 80% as new gold-backed currency steadies

Zimbabwe boosts unclassified minimum wage by 80 percent to $270 and sets new tiered pay scales for domestic staff.

Omokolade Ajayi Omokolade Ajayi
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World Bank prepares $750 million loan to support Kenya’s fiscal reforms

The World Bank prepares a $750 million budget support loan for Kenya to ease debt pressures and drive fiscal reforms.

Omokolade Ajayi Omokolade Ajayi
Egyptian wheat supply linked to import diversification strategy.
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Egypt buys record amount of wheat from farmers after reforms

Egypt bought a record 4.6 million tons of local wheat after policy reforms raised domestic prices to ease foreign currency shortages.

Omokolade Ajayi Omokolade Ajayi
Evening skyline of Johannesburg, South Africa, showcasing the city’s financial district and urban landscape.
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South Africa’s GDP rises 0.5% in Q1, but spending and investment weaken

South Africa’s economy grew 0.5 percent in Q1, beating survey estimates despite a sharp drop in consumer spending and rising fuel costs.

Omokolade Ajayi Omokolade Ajayi
Cape Town, South Africa's second-largest city.
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South Africa’s business confidence slips as oil surge, rate hike weigh on companies

South African business confidence slips to 39 as oil prices, Middle East tensions and rate hikes pressure spending, hiring and investment decisions.

Omokolade Ajayi Omokolade Ajayi
Kenya's President William Ruto.
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Kenya overtakes Nigeria as AfDB’s third-largest borrower amid debt push

Kenya overtakes Nigeria as AfDB’s third-largest borrower as disbursements rise to $338 million in 2025 amid growing debt pressures.

Omokolade Ajayi Omokolade Ajayi
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Kenya moves to secure IMF support as Iran tensions raise energy costs

Kenya moves to secure International Monetary Fund support as rising energy prices and geopolitical tensions pressure the economy and fiscal stability.

Omokolade Ajayi Omokolade Ajayi
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Kenya plans $500 million debut green bond as Iran war shakes economy

Kenya plans a $500 million green bond with World Bank support as oil price shocks and global tensions pressure its economy and financing.

Omokolade Ajayi Omokolade Ajayi