Bank of Ghana has announced that it will unveil new bank notes in five cedi denominations from March as the regulator celebrates its 60th anniversary.
The World Bank has projected that the economic growth of most countries in the Central African Economic and Monetary Community (CEMAC) will slightly accelerate from 2017 to 2019, based on its latest economic perspectives.
South Sudan President Salva Kiir has appointed former foreign exchange director Othom Rago Ajak to head the Bank of South Sudan, replacing Kornelio Koryom Marik.
Banque du Caire aims to inject more than $53 million in a number of economic sectors during 2017. These sectors include transportation, logistics, construction, industry, food, and commodities.
Sub-Saharan African growth is expected to pick up modestly to 2.9 percent in 2017 as the region continues to adjust to lower commodity prices. This according to the January 2017 global economic prospects report published by the World Bank.
Cameroon is optimistic that its economy will grow to 6 per cent in 2017 despite an introduction of new taxes meant to compensate for dwindling government revenue mostly from oil.
Egypt has introduced the country’s first bankruptcy law which among others seek to minimize the need for individuals or companies to resort to courts while abolishing imprisonment in bankruptcy related cases.
[Column] Bob Koigi: Why Africa’s neglected economic sectors will be our saving grace in job and wealth creation
Kenya leads African counterparts in successfully absorbing majority of its population into the job market and although the labour force is on track to increase dramatically over the coming decade, creating a job market that comfortably accommodates everyone still remains a pipe dream.
Benin is a country on the rise led by a newly appointed businessman-come President, H.E. Patrice Talon. The President recently launched a five-year program that is aligned to Benin’s Vision 2030 that places Public Private Partnerships (PPPs) at the core.
An agreement has been signed between Tunisia and Italy on the mechanism of debt recycling to convert $27 million of Tunisia’s debts to Italy into development projects in inland regions.
Financia Capital, a financial firm founded by Cameroonian Serge Yanic Nana; Attijari Securities Central Africa, an asset management company created in Cameroon by the Moroccan banking group Attijariwafa
Morocco has announced that it will issue the first government backed sukuk commonly referred to as Islamic bonds before the end of next year as the North African country seeks to widen the revenue to support government project.
The International Monetary Fund (IMF) has approved that Malawi government authorities be granted more time to achieve the Extended Credit Facility (ECF) programme objectives for which it borrowed $146.7 million.
International ratings agency, Fitch has affirmed Cameroon’s long term foreign and local currency issuer default ratings (IDRs) at ‘B’ with a Stable Outlook.
Ghana has launched Exim Bank, an export development finance institution, as it seeks to bolster government’s quest for an aggressive and sustainable export led economy.
Business confidence in South Africa as an investment hub dropped in the fourth quarter, a development that puts to risk efforts at boosting economic growth and avoiding a downgrade in rating.
The Tunisian government wants to target corruption and raise tax revenue next year in an effort to bring the economy toward its potential of 5 per cent annual growth according to the Prime Minister Youssef Al Shahed.
Commercial exchanges between Cameroon and Morocco have risen to a record $98 million this year in what is being attributed to cordial relations between the two countries according to statistics from the Chamber of Commerce, Industries, Mine and Arts (CCIMA) of Cameroon.
A new Kwacha 2000 new note is set to be unveiled in December according to the Reserve Bank of Malawi, necessitated by economic crisis and devaluation of the Kwacha. “We want to tell Malawians that starting from December end they will be using a new note and that is K2000,” said RBM manager Charles Tchuka
A growth in exports and a decline in imports has narrowed Zanzibar’s current account deficit the central Bank has said in its latest monthly economic review.
The upcoming Ghana elections are causing anxiety forcing traders at major markets in the city to reduce prices of their products as they await the outcome of the 7 December election.
Algeria has continue to record a ballooning trade deficit occasioned by a drop in oil prices which has heralded economic problems for the North African country.
Ghana’s total public debt now stands at $30 billion as at September 2016 which translates into about 67.4 percent of GDP, according to data released by the central bank ahead of its 73rd regular Monetary Policy Committee (MPC) meeting.
Tanzania mulls introducing Tanzanite gemstones to national reserve to hedge against price volatility
Tanzania’s government is mulling including Tanzanite gemstones in the national reserves at Central Bank to replace gold due to its price volatility.
The African Development Bank has committed to support Burkina Faso’s national development plan that seeks to transform the country’s economy and address the welfare of its people through the National Plan for Economic and Social Development (PNDES) 2016-2020.
One in every three Kenyans is in an investment club which translates to over 300,000 recognized ones in the country, with a combined asset base of $300 million. Now that is a figure even pundits and industry players will tell you is a force for any economy.
The first forum that has brought up Algeria and Mali economists has come up with a resolution to set up first of its kind joint business council to spearhead the interests of both countries.
TANZANIA has been ranked the leading country in East Africa and sub-Saharan Africa in 2016 in thaving an enabling environment for financial inclusion, the latest survey shows.
In what points to growing consumerism and a boom in key sector of Algerian economy, the country’s ministry of Trade has indicated that it has issued 225 licenses for the import of vehicles, cement and reinforced concrete in 2016.
International Monetary Fund (IMF) says despite its projection that Liberia’s GDP growth is poised to recover to about 3 percent in 2017, the post-war, Ebola virus-hit nation is yet to recover from effects of the outbreak that kills scores in 2014.
Angola’s agricultural and commercial projects have received a boost following World Bank’s commitment to release $230 million to help the country in its economic diversification pursuit.
A spike in import bill coupled with decreasing volume of exports outside hydrocarbons are eroding Algeria’s exchange reserves, economists have warned.
The International Monetary Fund mission to Zambia has completed its assessment of the country’s economy noting that its pace remains sluggish with strained public finance making it hard to qualify for lending.
East Africa Business Council has called on East Africa Community countries to deepen cross border investments for better and quick businesses development and promotion of integration.
Kenya’s economy is projected to grow at 5.9 percent in 2016 up from 5.6 percent in 2015 according to the World Bank’s Kenya Economic Update (KEU) released in Nairobi.
Real estate, financial services and manufacturing have spurred Mauritius foreign direct investment growth to 69 per cent year on year in the first half of 2016, the equivalent of $222 million according to the Board of Investment.
Algeria and China have signed have signed a framework cooperation agreement to boost industry cooperation between the two countries as Algeria looks to boost its nascent indsutries.
Zimbabwe manufaturers and retailers are expressing optimism that the introduction of bond notes in the market early next month will improve liquidity in the market.
In what is meant to cement business and bilateral relations between Tanzania and Morocco, the two countries have signed 21 partnership agreements in areas like aviation, tourism, agriculture and oil and gas among others.
Morocco is losing up to $4 billion in untaxed revenue every year to the approximated 1.68 million informal economic operations it hosts.
World economic index provider Standard and Poor’s has graded Morocco’s economy as stable in what it attributes to forecasted improvement in the country’s external and fiscal deficits, coupled with the benefits of the two year low oil prices unlike its North African peers.
Increased lending due to capping of interest rates will have a positive effect on the economy. Metropol Corporation projects that the economy will grow by 6 per cent in their latest revised 2016 Kenya economic outlook up from 5.5 per cent.
Regional economic block, the Common Market for Eastern and Southern Africa (COMESA) remains the fastest growing economy in the world according to the latest COMESA macroeconomic report, with five of its members recording growth rate of between five and ten per cent.
Kenya has been graded third in ease of access to credit after Rwanda and Zambia in a new report by the Institute of Chartered Accountants in England and Wales (ICAEW).
The Chamber of Petroleum Consumers Ghana, has forecast a likely 7-13 percent fuel price adjustment beginning Sunday October 16.
As a proud Kenyan and champion of business opportunities in Africa, the optimistic chat on Twitter from last week’s US Africa Business Forum in New York popped up on my radar.
Credit rating agency Standard & Poor’s (S&P) has lifted Rwanda’s sovereign credit outlook from negative to stable, now grading it at B.
The Republic of Ghana has launched a $750m bond due 2022 at a yield of 9.25 percent, according to persons close to the deal.
Development Bank of Ethiopia has set aside $452million this financial year meant for financial lease.
The Egyptian government has finalized modalities required to allow it access a $500 million World Bank loan facility geared towards what the government says will be domestic development program for Upper Egypt.
Misr Capital, Al Nour Consulting Group, and Global Appraisal Tech have been selected by the Egyptian government to carry out a valuation of the Suez Canal Economic Zone as investors await the evaluation to start case studies on possible projects.
The Abu Dhabi Fund for Development (ADFD), the UAE’s international development arm has deposited $1billion at Egypt’s Central Bank to finance development projects in the next six years as the North African country looks to industrialization to foster economic growth.
The Government of Kenya has acquired a 40 per cent stake in currency printing firm De La Rue at a cost of £5 million that will see government owning a stake in the firm’s subsidiary De La Rue Kenya EPZ Limited
As banks in Rwanda looks to more ways of growing their customer portfolio, technology has come in handy while assisting them cut the cost of doing business.
Since 2000, there are indications of ‘Africa Rising’, and the narrative is shifting to one where the continent is broadly destined to enjoy a period of mid-to-high economic growth
The Development Bank of Rwanda (BRD) has signed a $1.8million guarantee facility with the African Solidarity Fund to support development projects in different sectors of the economy.
IFC, a member of the World Bank Group and the Ghana Stock Exchange has announced a partnership to promote the adoption of sound business practices within the capital market to support business expansion and boost economic growth.
The National Microfinance Bank, NMB, has announced it is setting aside $28million in the next five years to boost agriculture led activities as it seeks to boost the country’s 2025 dream of attaining mid-level economic status through agriculture.
President Muhammadu Buhari came to power promising Nigerians "change". Novelist and writer Adaobi Tricia Nwaubani gives five examples of what has changed in Nigeria since 29 May 2015 when he was sworn in.
Nigeria is allowing its struggling currency, the naira, to trade freely in a move to tackle the financial crisis in Africa's most populous nation. Financial blogger Feyi Fawehinmi looks at how it will affect people's lives.
Investing in science and research has massive benefits for Africa’s economy - AfDB President, Akinwumi Adesina
The Bank’s President Akinwumi Adesina was speaking at the 7th Agriculture Science Week (AASW) and the Forum for Agricultural Research in Africa (FARA), where he was awarded the FARA Leadership Prize for advancing agricultural science, technology and innovation in Africa.
Barely a year after the commencement of the SME Radio programme, The Economy & You, First Bank of Nigeria Limited has empowered millions of SMEs across the nation.
Tanzania's economy will grow by 7.2 per cent as efforts are made to implement a raft of measures to contain inflation in 2016, the government said Wednesday.
Nigerian President Muhammadu Buhari tried to reassure investors that he has the country’s currency and oil-rich Niger River delta region in hand one year after taking office.
Rising interest rates in Ghana is stoking cost of borrowing and forcing businesses to go bankrupt, research conducted by an international organisation has stated.
Inflation for the month of March 2016 has risen to 19.2 percent, the highest since August 2009.
Ford Motor Company is investing R2.5-billion ($170 million U.S. dollars) to expand operations in South Africa at its Silverton Assembly Plant in Pretoria, South Africa, to produce the all-new Ford Everest, along with the new Ford Ranger that was launched at the end of last year.
Africa's richest man and President, Dangote Industries, Alhaji Aliko Dangote, yesterday, dismissed fears about the impact of the fall in crude oil prices on the Nigerian economy, saying the decline would not translate to doom for the economy.
ATF seeks to build a Coalition for Transformation in Africa, addressing key economic development themes.Rwanda will host the inaugural African Transformation Forum (ATF). The Forum is jointly organized by the African Center for Economic Transformation (ACET), one of Africa's leading think tanks, and the Government of Rwanda.
Kenya’s President Uhuru Kenyatta has said his country is open to businesses and cooperation from Ghana towards enhancing the ties between the two countries. Mr Kenyatta said Kenya is proud of Ghana’s achievement as a leader in the continental quest for peace and democracy.
Even as mobile money services become part of daily life for millions in Sub-Saharan Africa, many potential customers face basic barriers to accessing the services on their own mobile phones. Lack of awareness and basic prerequisites, and low appreciation of the benefits are some of the hurdles.
This year could be a hard time for property investors in South Africa as the country's economy is currently experiencing crisis, resulting to slower rate of property investment.
The Economic Commission for Africa and the African Union will host the Africa Development Week from 31 March to 5th April which will hold close to thirty side events on topical issues.
With the economies of the Middle East and North Africa (MENA) impacted by the unrelenting low oil prices and persisting regional instability, their insurance markets are likely to face repercussions
Sub-Saharan Africa’s most formidable economic asset could soon be its people. As the region’s demographics change, it can enjoy significant growth if policies are tailored to tap into this potential.
Botswana has said that the founding members of the Gaborone Declaration for Sustainability in Arica (GDSA) group of governments have to work on more African countries to sign up to the initiative
The naira rose by 50 per cent yesterday against the dollar at the parallel market to N250 from N375, which it traded on Monday.
In Egypt more than 1,500 public and private business delegates and state leaders agreed on 20-21 February to mobilise massive investments for the implementation of Africa’s largest trading bloc
Central Africa is the area of the continent with the lowest intra-community trade volume, though it may rapidly increase it by using Information and Communication Technologies (ICTs).
The United States (US) secretary of commerce, Penny Pritzker, has disclosed that out of over 70 large American companies operating in Nigeria, a survey showed that the cumulative amount of direct investment committed to the country by just 11 of them since 2011 totaled $10.9 billion.
Urbanisation, mobility, infrastructure, natural resources, telecommunications investments and inter-regional trade are just a few of the untapped opportunities making Africa the last growth frontier.
BADEA and UNITAR Partner to Build Capacity for Sustainable and Inclusive Growth in Sub-Saharan Africa
An Arab Bank for Economic Development in Africa (BADEA) mission consisting of H.E. Dr. Sid Ould Tah (Director General) and Mr. Mohamed El Aïchouni (Head, Technical Assistance Division) visited UNITAR's Headquarters in Geneva, Switzerland on 20 January 2016.
Experts gathered in Addis Ababa, on 14-15 January 2016, at the United Nations Conference Centre, to review the upcoming 2016 edition of the Economic Report on Africa, entitled 'Greening Africa's Industrialization'.
Team South Africa has concluded what it termed “a successful programme” at the just-ended 2016 World Economic Forum in Davos, Switzerland, the Presidency said on Sunday.
Hotels are often met with bells of negativity in the minds of many. The notion of sexual immorality and crime is mostly associated with hotels because of past instances and happenings
CNBC Africa viewers will enjoy extensive coverage of the World Economic Forum Annual Meeting 2016, in Davos from 20-23 January 2016 on DStv Channel 410
After being one of the few western banks to establish a presence in sub-Saharan Africa, Barclays is planning a retreat.
The members of the Security Council heard a briefing on 14 January 2016 by the Special Representative of the Secretary-General for West Africa, Mohamed ibn Chambas.
Equipping Businesses for 2016: RCCG City of David's Networks Business Club organizes Economic Outlook
The Networks Business Club of RCCG City of David in partnership with Access Bank Plc today announced the 3rd edition of the Nigerian Economic Outlook an annual event
Togo is to host an additional Africa Hotel Investment Forum (AHIF) in spring 2016 reflecting the country's optimism for further economic expansion.
For many, the festive season is such an exciting time of the year – a time of giving, spending time with family and friends and possibly going on holiday
Minerva Bunkers, a global supplier and trader of marine fuels, confirmed the launch of a physical fuel supply operation in West Africa, which covers the offshore waters of the Guinea Gulf countries: Ivory Coast, Ghana,Togo, Benin, Nigeria, Cameroon, Equatorial Guinea, and Gabon.
Christine Lagarde, Managing Director of the International Monetary Fund, is in the Nigerian capital, Abuja, for a visit aimed at strengthening the body's partnership with the West African country.
First City Monument Bank (FCMB) Limited has introduced a new proposition called Flexx for youths aged 16 – 24 years old.
Given the economic diversification in the face of dwindling oil revenue, a lot of attention has been given to the business of food, the very crux of the nation’s economy before the oil boom.
A.M. Best has affirmed the financial strength rating of B (Fair) and the issuer credit rating of “bb+” of East Africa Reinsurance Company Limited (EARe) (Kenya). The outlook for both ratings is stable.
Cuba is a country on the rise with South Africa recognising its growing importance as an economic player in the world, says Trade and Industry Deputy Minister Mzwandile Masina.
Professor Francis Kofi Allotey, a renowned international mathematical physicist, has called for the infusion of creative entrepreneurial innovations into modern science and technology to enhance its potency to aid wealth creation and industrialization in Africa.
Angola announced the launch of sovereign debt bonds in the international market in the form of Eurobonds, amounting to USD $1,500,000,000.00 (one thousand five hundred million US dollars), under the Executive public finance management policy, in accordance with the long-term economic and financial development programme.
In line with its liquidity management mandate, the Central Bank of Nigeria (CBN) will this week, mop up a total of N138 billion from the system through the sale of treasury bills.