Tag: Economy

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.

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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.

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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
Tanganyika Province in the Democratic Republic of the Congo, a mineral-rich region contributing to the country’s mining-driven economic expansion.
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Congo set to overtake Ethiopia as sub-Saharan Africa’s fifth-largest economy

Congo projected to overtake Ethiopia as sub-Saharan Africa’s fifth-largest economy, driven by mining, currency gains and IMF projections.

Omokolade Ajayi Omokolade Ajayi
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Kenya scrambles for World Bank rescue as Iran war shakes economy

Kenya seeks World Bank support as Iran conflict-driven oil prices strain inflation, currency stability and economic growth outlook.

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Portside Tower
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South Africa’s economy grows fastest in three years amid reforms

South Africa’s GDP grew 1.1 percent in 2025, its fastest pace in three years, driven by agriculture, trade, and finance sectors.

Omokolade Ajayi Omokolade Ajayi