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Driven by growth in the services sector, Nigeria’s economy expanded by 3.8% in the three months through December 2024, the fastest growth recorded in three years.
Kenya’s KCB bank has secured a $100 million funding from UK’s top development investor, BII, shoring up its capital reserves.
Senegal’s credit rating has been further downgraded by Moody’s following reports indicating a significantly higher debt burden and weaker fiscal position than previously estimated.
The founder and chairman of Heirs Energies, Tony Elumelu, has hinted that the integrated energy company doesn’t rule out the possibility of building a crude oil refinery as well as venture into petrochemicals production in the future.
Bondholders claim that the IMF report exaggerates how much debt relief Ethiopia needs considering the recorded surge in the county’s gold and coffee exports.
Mrs Uche Uzoebo, pioneer Chief Distribution and Stakeholder Engagement Officer of SANEF takes over from Mrs Ronke Kuye as MD/CEO of SANEF limited.
A significant reduction in the country’s debt while strengthening the shilling will also help in reducing Kenya’s inflation rate.
Credit officers in Kenya expect that in Q1 2025, the percentage of nonperforming loans for the personal and household sector will increase.
The apex bank held the MPR at 1.9% for the second time in a row, citing a stable inflation rate of 2.8%, below the 3-6% range.
All 12 members of the MPC unanimously agreed to retain the MPR rate at 27.50%, citing the need to stabilize and strengthen the economy.
Kenya’s foreign currency reserves recieves boost as 2024 tourism earnings surges by over 19% to $3.49 billion.
In a move to boost mining activities and attract higher foreign investments, Zambia has removed its 15% export tax on gemstones.
Uganda is seeking $190 million to compensate Umeme power distribution company as the end of their concession contract draws nearer.
In a move to enhance financial stability, Nigeria’s central bank orders bank directors with bad loans to step down immediately.
South Africa’s unemployment rate, one of the highest globally, falls for the second consecutive quarter as finance jobs increases.
Businesses seeking loans have been faced with high interest rates, which has influenced their decision on whether or not to take loans.
New inflation math gives Nigeria a sharp drop, but reality bites. Authorities say the rebasing was long overdue, yet businesses and consumers are still reeling from soaring costs.
As Nigeria’s central bank confirms the date for its first MPC meeting of 2025, questions remain over whether it will have access to the latest inflation data.
Kano, Nigeria targets ₦100 billion revenue in 2025 with stricter tax compliance and digital reforms, but businesses remain cautious.
Days after Fitch Ratings withdraws from assessing one of Nigeria’s biggest conglomerates, the country’s president endorses the newly launched Africa-led Credit Rating Agency.
