Saturday, September 22, 2018
The African Development Bank is leading talks with Zimbabwe and its creditors to make plans for the nation to pay off some of its arrears so it can restore relations with lenders, said Akinwumi Adesina, the bank’s president. During almost...
Nigeria plans to issue identity numbers to 70 million citizens by the end of next year, a first step to bringing them into the country’s payments system. The West African nation, which currently holds centralized data for less than 15...
Nigeria will probably maintain its system of multiple exchange rates, which the International Monetary Fund has long-urged it to scrap, until at least early 2020, according to Moody’s Investors Service. Merging the naira’s various rates any sooner might force the government...
Sub-Saharan African countries could increase tax revenue by an average of 5 percent of gross domestic product -- much more than what they receive in international aid -- if they reform their tax policies, the International Monetary Fund said. Key steps would...
In a bid to encourage cryptocurrency and blockchain adoption in Egypt, the National Bank of Egypt (NBE) announced that it has joined the R3 Blockchain Consortium on April 22, 2018. R3 is a software enterprise firm that is working closely with...
Demand for Ghana’s $2 billion of Eurobonds exceeded supply four times as the West African country convinced investors about its economic turnaround story, the Ministry of Finance said. Ghana got more than $8 billion of bids after marketing the debt...
The ministers of trade from the ECOWAS sub-region have moved to strengthen economic integration among member states by urging them to adopt and present a common position based on regional instruments at the African Continental Free Trade Area (AfCFTA)...
The Angolan government has raised $3bn in its second Eurobond issue in international markets with demand from 500 investors based in the US, Europe and Asia reaching nearly $9bn. The deal included two parts: $1.75bn of 10-year bonds with a...
South Africa has expressed disappointment at not being granted exemption from the US Section 232 steel and aluminium tariff duties. Monday, 30 April, US President Donald Trump signed proclamations granting permanent country-exemptions to a select number of countries and extended...
Chinese investment in Africa could be accelerating debt on the continent and creating economies which are “entirely dependent on China”, according to financial experts. Around $86bn (£64bn) in loans were issued by China between 2000 and 2014 to finance over 3,000 infrastructure projects...

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