SA central bank cuts rate as inflation stays low
South Africa’s central bank made a modest rate cut after April inflation undershot the target range again.
SA central bank cuts rate as inflation stays low Read More »
inflation
US tariff shocks will hit Africa, says AfDB president
US tariffs could send shock waves through African economies, with weakened currencies and rising inflation, according to AfDB president Adesina.
US tariff shocks will hit Africa, says AfDB president Read More »
US stocks fall sharply as tariff fears shake Wall Street
Wall Street suffered sharp losses as tariff concerns and inflation fears triggered a sell-off across major indexes raising concerns about future earnings.
US stocks fall sharply as tariff fears shake Wall Street Read More »
Ethiopia restructures $8.4 billion in debt to stabilize economy
Ethiopia secured a deal to restructure $8.4 billion in debt, aiming to stabilize its economy after years of financial strain and high inflation.
Ethiopia restructures $8.4 billion in debt to stabilize economy Read More »
IMF approves $1.2 billion disbursement for Egypt after fourth review
Egypt secures a $1.2 billion IMF fund release as part of its ongoing economic reform commitments.
IMF approves $1.2 billion disbursement for Egypt after fourth review Read More »
Rebased data shows lower inflation rate in Nigeria
The rebasing, which reflects changes in consumption patterns, has led to a lower inflation figure than previously reported.
Rebased data shows lower inflation rate in Nigeria Read More »
US escalates trade war with new reciprocal tariff policy
Trump announced new reciprocal tariffs targeting allies and competitors, aiming to counter trade imbalances, though economists warn they may raise US inflation and strain global trade.
US escalates trade war with new reciprocal tariff policy Read More »
Nigerian lawmakers approve $36.6 billion budget for 2025
The budget prioritizes security, infrastructure development, and measures to address the rising cost of living.
Nigerian lawmakers approve $36.6 billion budget for 2025 Read More »
Kenya central bank cuts interest rate again to boost growth
The Central Bank of Kenya cut its key interest rate for the fourth consecutive meeting on Wednesday, aiming to stimulate economic growth. The Monetary Policy Committee lowered the Central Bank Rate by 50 basis points to 10.75%. The Kenyan economy has faced challenges, including the impact of the COVID-19 pandemic and a recent drought. While the economy showed signs of recovery, growth has slowed. The rate cut is expected to encourage lending, boost investment, and stimulate economic activity. However, the bank acknowledged potential risks, such as higher-than-expected inflation and a worsening global economic environment. This action reflects the central bank’s commitment to supporting economic growth while maintaining price stability.
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Nigeria hikes mobile tariffs as inflation hits record high
Nigeria has increased mobile tariffs by 50 percent, citing operational costs, as inflation hits a 30-year high.
Nigeria hikes mobile tariffs as inflation hits record high Read More »