Economics
Economics
Nigeria's New Economic Narrative.
Economics
Investors Confidence in Nigeria's Economic Reforms Surges.
Tinubunomics, Nigeria’s economic policy aimed at readdressing the country's economic challenges driven by years of fuel subsidy, corruption, fiscal mismanagement and currency devaluation is now bearing economic fruit. In 2022, almost 40% of the country’s revenue was spent on fuel subsidies, it also experienced constant currency
Economics
Ethiopia's Thriving Investment Renaissance.
Ethiopia is experiencing a resurgence in investment activities, with significant progress in economic growth, infrastructure development, and foreign direct investment (FDI). An impressive turnaround For years, Ethiopia has faced wars, economic upheaval, and uncertainty. Despite these challenges, it is now one of Africa's fastest-growing economies. * Last year
Ratings
The Demand for an Africa Credit Rating Agency.
The African Development Bank, Prosper Africa (a U.S. presidential initiative), and the United States Department of the Treasury have agreed to create an African online credit rating data platform with a $700,000 grant. Why does this matter : Several African countries have recently been accessing international credit markets to
Ratings
Moodys Takes Positive View on Sub-Saharan Africa's Growth Prospect.
Moody's has expressed a positive outlook on sub-Saharan Africa's growth prospects, emphasising the significance of energy and infrastructure investments in supporting the region's economic development. Why does this matter: South Africa is prioritising infrastructure development in the energy, water, and transport sectors to
Economics
Nigeria's Foreign Reserve Grows to $37.31 billion a 22- Month High
Nigeria's economic policy, known as Tinubunomics, is demonstrating positive outcomes, as evidenced by the growth of the country's foreign reserves to $37.31 billion. Why does this matter: The economic strategy, spearheaded by President Tinubu, has encountered several challenges, including removing the fuel subsidy, rapid devaluation
Economics
Ethiopia Floats Currency In Economic Reform.
Ethiopia has implemented the flotation of its birr currency in the open market as a measure to stabilise the currency and address the increasing demand for foreign currency needed for exports and economic initiatives. Why is this important: The Ethiopian government has recently implemented significant measures aimed at enhancing its
Economics
Kenya: The Rise of Rutonomics
President William Ruto's economic reforms have yielded positive results for the largest economy in East Africa. Why is this important: President Ruto campaigned on a 'bottom-up' economic model that aimed to strengthen the Micro, Small, and Medium Enterprises (MSMEs) economy, create a strong digital superhighway
Economics
Uganda's gold exports grows by 10-fold to $2.3 billion in 2023.
Uganda's gold export has grown 10-fold over the last twelve months to $2.3 billion in 2023. Why is this important: According to data from the Central Bank of Uganda and reported by Reuters, the country's gold export rose to $2.3 billion in 2023
Economics
Egypt targets $55 billion investment in 2023-2024 fiscal year to boost economy.
Egypt expects to generate $55 billion worth of investment in the current fiscal year to boost its economy. The North African country has been facing an ongoing economic crisis, with the Egyptian pound losing around 50% of its value since 2022, high inflation and a budget deficit of 7.0%
Economics
Africa's best-performing currency since the start of 2024.
Zambia's kwacha has rallied 13.8% to 22.8 against the dollar since the start of this year. Why is this important: The country's central bank, the Bank of Zambia, continues to tighten its monetary policy by raising the monetary policy rate by 150 basis points