Seychelles’ financial woes may ease in the coming days as the International Monetary Fund (IMF) has approved the second disbursement of $34 million. The announcement came as cabinet ministers decided that employees of state-owned enterprises will not receive any bonuses or incentives for 2021. The disbursement by IMF is part...
The East African Business Council (EABC) is pushing for a bilateral meeting to eliminate all remaining non-tariff barriers between Kenya and Uganda so as to further accelerate post-COVID economic recovery and foster integration across the wider region. According to this apex body that represents interests of investors and businesses in...
Egypt has remained one of the few countries that has maintained positive growth during and after the COVID-19 crisis. In October 2021, Egypt instituted structural reform policies that were deemed integral to its efforts to accomplish a sustainable and resilient economic recovery. Egyptian GDP remains at an all-time high and...
Twin pressures of tight COVID-19 restrictions and the spate of civil disorder that rocked the country in July contributed to South Africa’s economy contracting in the fourth quarter. According to Statistics South Africa (SSA), GDP slumped by 1.5% eroding some of the hard-fought gains the country had made...
Elections in The Gambia are always a thrilling affair. There is a unique marble voting system used nowhere else in the world and results that rock the political establishment. While the outcome of this election avoided the ugly scenes witnessed four years ago – when former President Yahya Jammeh refused to...
Tanzania’s Central Bank has announced plans to roll out its digital currency, following in the footsteps of Nigeria and a global wave of adoption of cryptocurrencies. In preparation for this major step, the Bank of Tanzania is currently strengthening the knowledge and capacity of its officers on digital currencies....
Amid fears of losing its main gateway to the outside world, Uganda has stepped up efforts to amend a loan agreement it signed with China in 2015. Back then, the land-locked country had launched an ambitious 20-year civil aviation master plan, which included the upgrade of its only international airport...
Nigeria’s federal government will remove a controversial fuel subsidy scheme and replace it with transport grants of 5000 naira ($12.20) each to nearly 40 million poor people every month. Speaking at the launch of the World Bank Nigeria Development Update (NDU) on Tuesday, Minister of Finance, Budget and...
Tanzania’s request to the International Monetary Fund to provide it with a $372.4 million loan to support COVID-19 pandemic relief measures has been approved. The loan will be issued through the Washington-based lender’s Rapid Credit Facility (RCF), and is part of a $567.25 million package released...
