Ugandan businesses reopen after four-day tax protest
The strike, initiated by the Federation of Uganda Traders Association on Tuesday in Kampala, quickly spread to various parts of the country
Nigeria plans purchase of 24 fighter jets from Italy
Nigeria’s air force plans acquisition of 24 fighter jets from Leonardo for fleet modernization. Leonardo to supply first six jets by end of the year.
IMF draws attention to Yemen, Sudan suffering
Kristalina Georgieva of the IMF spotlights the suffering in Yemen and Sudan amidst overshadowing global wars, stressing IMF support for all members.
Doctors’ strike: Kenyan court orders immediate resolution talks
Court demands urgent resolution to Kenyan doctors’ nationwide strike within 48 hours. Impasse over pay and working conditions disrupts healthcare services.
Ghana receives $360m IMF aid tranche to address crisis
Ghana secures $360M IMF aid tranche to tackle economic challenges and promote inclusive growth.
Zimbabwe’s gold-backed currency faces rocky debut
Banks faced technical difficulties, old banknotes lost value overnight, and many businesses continued using US dollars.
Zimbabwe’s introduction of new currency plagued by chaos
Numerous establishments, including stores and street vendors, opted to transact solely in US dollars due to a scarcity of coins
Ivory Coast secures $574 million IMF loan
Ivory Coast secures a $574 million loan from the IMF to support economic reforms and a new climate action plan.
Ghana set to raise cocoa farmgate price significantly
In a response to both high global cocoa prices and competition with Ivory Coast, Ghana raises cocoa farmgate prices.
Caledonia in talks with African banks for Zimbabwe mine funding
The company is in discussions with African development banks as potential lenders for the $250 million project.
Senegal to conduct audit of resource sectors, reassure investors
New president, Faye, announces an audit to ensure transparency and responsible resource management.
Nigeria to cut electricity subsidy for wealthier consumers
Nigeria’s economic reforms continue with a planned reduction in electricity subsidies.
Africa’s biggest refinery starts pumping fuel in Nigeria
Nigeria’s dream of energy independence inches closer to reality with Dangote’s massive oil refinery starting fuel deliveries.
Gold breaks records despite conflicting market forces
The gold market is experiencing an unprecedented surge, breaking records for a third consecutive day.
Kenyan doctors strike enters third week, talks remain stalled
Kenyan doctors on strike since March 15 demand better pay, hiring of trainee doctors, and improved working conditions.
One-year ban for China road firm in Uganda
The African Development Bank banned a Chinese road builder for a year due to undisclosed commission agent use in bidding for a Ugandan road project.
Kenya’s tourist revenue surpasses pre-COVID levels
Traditionally renowned for its wildlife parks and stunning Indian Ocean beaches, Kenya has attracted tourists from around the globe
Egypt set to receive initial portion of expanded IMF loan next week
The arrangement builds upon a previous $3 billion, 46-month Extended Fund Facility inked in December 2022
US launches initiative to boost African food imports
Africa Trade Desk aims to increase sales by $300 million, benefiting small-scale farmers and meeting US demand for unique African flavors.
Africa Energy Bank set for launch in 2024 with $5B war chest
The Africa Energy Bank is set to launch with $5 billion to fund oil & gas projects across the continent.
Kenya Airways soars to first operating profit in seven years
Kenya Airways emerges from years of losses, recording its first operating profit in seven years thanks to a surge in revenue and passenger numbers.
Nigeria’s central bank aggressively hikes rates to combat inflation
Nigeria’s central bank hikes interest rates to a record 24.75% to battle soaring inflation above 30%.
Ghana pushes for faster debt restructuring talks
Ghana aims to fast-track debt restructuring talks with bondholders to secure IMF funds and overcome its worst economic crisis.
Bitcoin breaks records, stocks mixed on rate cut bets
New exchange-traded funds (ETFs) are fueling a surge in Bitcoin demand.