Economy & Trade

Libya's east lifts oil production, export blockade

Libya's eastern administration has lifted a month-long oil production and exports blockade over a central bank row.

Uganda's foreign currency reserves register decline

Uganda's foreign exchange reserves declined by 4.3% in the three months to July 2024.

Libya appoints central bank governor after weeks of impasse

Libya's rival governments have agreed on the appointment of Naji Issa as the country's new central bank governor.

$1.57 billion loan from World Bank approved for Nigeria

The bank said the money would help increase availability and effectiveness of financing for basic education and primary healthcare service delivery.

'Djibouti president is well': Finance minister

Djibouti's finance minister has dispelled rumours about the health of President Ismail Omar Guelleh.

Sudan war: Paramilitary attack kills 18 at El-Fasher market - medic

The paramilitaries have besieged El-Fasher since May, and famine has already been declared in Zamzam refugee camp.

Zimbabwe gold-backed currency slumps over 40%

The ZiG, which stands for Zimbabwe Gold, is the country's sixth attempt at a stable currency in 15 years after a period of hyperinflation.

Libya rival factions agree to end central bank crisis

Libya's rival governments have agreed to set aside their differences and appoint the country's central bank governor.

Exxon proposes $10bn oil investment in Nigeria - presidency

Exxon said it's working closely with the president to make the significant investment possible.

Nigeria's central bank surprises with fifth rate hike in 2024

Nigeria's central bank has raised its benchmark lending rate by 50 basis points to 27.25%, catching many by surprise.

Ghana arrests 45 economic hardship protesters

Ghana has arrested 45 people, including Oliver Barker-Vormawor, for taking part in protests that the government describes as disruptive.

Central bank row sees Libya dinar slip on black market

The Libyan dinar has lost about 8% of its value against the US dollar on the black market amid dispute over central bank governorship.

Polls close in first Sri Lanka election since economic collapse

President Ranil Wickremesinghe is tipped to lose to one of two formidable challengers.

Zimbabwe's ZiG currency faces challenging times

Zimbabwe's new currency, the ZiG, is facing challenging times amid worrying depreciation against the US dollar.

SA central bank cuts its benchmark interest rate

South African Reserve Bank has cut its benchmark interest rate for the first time since 2020.

Kenya projects budget deficit will fall to 3.5% of GDP

Kenya's finance ministry has projected a fall in the budget deficit to 3.5% of gross domestic product (GDP) in the 2025/26 financial year.

Israel uses Africa's conflict diamonds to finance Gaza genocide

Through a web of corruption and deceit, Israel is deeply entangled in the lucrative blood diamond trade in the DRC. Here’s how they're reaping windfall profits.

South Sudan, Sudan near oil export resumption

South Sudan's economy has been under pressure amid communal violence, with crude oil export revenue having dwindled since a 2013-2018 civil war.

Libya oil exports rose sharply last week: report

Libya's oil exports have begun showing an upward pattern as rival governments move in to resolve an impasse caused by the sacking of the country's central bank governor.

Somalia, IGAD sign pact on blue economy centre

Somalia and regional bloc IGAD have signed an agreement to establish a regional centre on blue economy.

Live Updates: Illegal settlers, Israeli soldiers raid West Bank villages

Israel's genocidal war on Gaza, now in its 345th day, has killed at least 41,182 Palestinians and wounded 95,280 others — a conservative estimate — with 10,000+ believed to be buried under rubble of annihilated homes.

Live Updates: Israel detains injured Palestinian in West Bank hospital raid

Israel's war on Gaza, now in its 342nd day, has killed 41,084 Palestinians and wounded 95,029 others, a conservative estimate, with 10,000+ believed to be buried under the debris of bombed homes.

Live Updates: Israel besieges West Bank city, restricts access to hospital

Israel's war on Gaza, now in its 341st day, has killed 41,020 Palestinians and wounded 94,925 others, a conservative estimate, with 10,000+ believed to be buried under the debris of bombed homes.

Live Updates: Casualties as Israel strikes parts of West Bank and Gaza

Israel's genocidal war on Gaza, now in its 341st day, has killed 41,020 Palestinians — mostly women and children — and wounded 94,925 others, a conservative estimate, with 10,000+ believed to be buried under the debris o