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Despite naira gains in local terms, dollar value of Nigeria’s pension assets dropped from $33.5bn to $15.2bn between March 2023 and March 2025, driven by severe currency depreciation.
Before issuing any ruling, the court says it will hear MTN Nigeria’s side of the story. It has given the telecom service provider five days to appear and show cause why its accounts should not be frozen.
Transnet signs three-year union deal amid renewed push to expand maritime operations and partner with OEMs to diversify and penetrate Africa’s logistics market
The trade deal with Ghana comes just a day after China announced plans to remove tariffs for all 53 African countries with which it has diplomatic ties—excluding Eswatini because of to its support for Taiwan
Aliko Dangote, Africa’s richest man, is stepping down as Chairman of the Board of Dangote Sugar Refinery Plc, a company worth of over $300m (N473.73bn), after two decades at the helm of leadership. His retirement, which takes effect from June 16, 2025, marks the end of a 20-year leadership era during which he transformed the…
The Gambia, Ghana, Liberia, Sierra Leone, and Sudan have collectively contributed $16 million to the African Development Fund, tripling their last cycle’s pledge.
The World Bank’s latest growth forecast marks a sharp upgrade from its 2024 projection, which slashed Egypt’s expected growth to 2.4%, down from 3.8% previously predicted
The $7.3 billion tax revenue target comes amid plans by the Ethiopian government to introduce a series of new tax measures including a 15% VAT, a 15% excise duty on fuel and a higher circulation tax on vehicles.
South Africa’s manufacturing sector contracted sharply by 6.3%, the decline cuts across nearly all major industrial segments, driven by low demand and rising costs
The latest cut marks the sixth consecutive policy easing since August 2024 and comes as annual inflation slowed from 4.1% in April to 3.8% in May
South Africa’s Eskom has burned through R3.76 billion ($212 million) on diesel for its gas turbines since April, averaging $4.1 million daily, despite promises to reduce reliance amid winter and ongoing power cuts in Johannesburg.
With domestic liquidity at a record high, the Southern African nation is banking on a combination of internal borrowing, its large sinking fund and syndicated loans to manage the repayment without returning fully to international markets.
The Washington-based lender explained that its latest stance is anchored on “good” stability in Zimbabwe’s official market and a growing likelihood of convergence between official and parallel market rates.
The Attorney General’s clarification comes after media reports suggested that the law office removed the Managing Director’s name from the trial without offering any explanation.
Born out of frustration with the big three rating agencies, AfCRA aims to offer credit assessments that better reflect the continent’s economic realities.
By pushing Kenya’s electronic share registry to 97 billion shares, the move marks a significant step toward full dematerialisation of securities and is expected to boost liquidity, transparency, and investor confidence.
The National Bank of Ethiopia (NBE) held its seventh foreign exchange auction of the year, selling $50 million at 134.95 birr per dollar, in a bid to stabilise its foreign exchange
Despite Ethiopia’s budget nominal rise, the budget’s value in US dollars has declined by 30% due to the Birr’s depreciation.
Fitch Ratings has downgraded the African Export-Import Bank (Afreximbank) by one notch to BBB-, placing it at the bottom of investment grade and just above junk status.
Kenya’s top lenders, Equity Group and KCB Group, are grappling with Instruction 18, a new rule from the Democratic Republic of Congo, aimed to drive local investors market dominance
