Economy & Trade

Kenya unveils new security feature for banknotes

Central Bank of Kenya says the updated series of banknotes will be in circulation alongside the current ones.

Kenya finance minister nominee to 'disturb status quo' in wake of tax protests

John Mbadi told a parliamentary vetting panel that he would not support new taxes or increases, if he is confirmed to the role.

Burkina Faso's Traore unveils  country's first state bank

Captain Ibrahim Traore said the bank was a symbol of Burkina Faso's economic and financial sovereignty.

Zambia to import electricity from Zimbabwe, SA

Zambia has announced it will import electricity from the neighbouring Zimbabwe and South Africa after drought affects its hydroelectric production.

Cameroon closes $550m bond sale: Finance minister

The International Monetary Fund said earlier this month that Cameroon remained at high risk of external debt distress.

Court rules Kenya's Finance Act 2023 'unconstitutional'

Kenya's Court of Appeal has ruled that the country's Finance Act 2023 was unconstitutionally passed.

WTO chief sees 'troubling times' for trade

The head of the World Trade Organization (WTO) Ngozi Okonjo-Iweala has projected "troubling times" ahead for international trade.

SA speaks on status of trade relations with US

South Africa says its relations with the US remain intact despite South Africa's support for the Palestinian cause.

Nigerian leader directs state firm to sell crude to Dangote in naira

Nigeria's President Bola Tinubu has directed state oil company NNPC to sell crude to Dangote refinery using the local naira currency.

Ethiopia allows free market exchange rate ahead of IMF loan

Ethiopia has been in talks with the IMF since last year to establish a new lending programme.

Live Updates: Palestinian leader dies in Israeli custody in West Bank

Israel's war on Gaza, now in its 294th day, has killed at least 39,175 Palestinians — the majority of them women and children –– and wounded 90,403 others, with 10,000+ estimated to be buried under the debris.

Nigeria calls for patience in economic turnaround bid

The Nigerian government has called for patience from citizens, promising to turn the country's economy around.

Türkiye-Sudan business summit kicks off in Istanbul

We welcome Turkish investors "to contribute to the development of Sudan," says Ehlam Mahdi Sabeel, Sudanese minister of investment and international cooperation.

Live Updates: Israeli army re-raids Tulkarem in occupied West Bank

Israel's war on Gaza, now in its 292nd day, has killed at least 39,090 Palestinians — the majority of them women and children –– and wounded 90,147 others, with 10,000+ estimated to be buried under the debris.

Kenya submits new economic plan to IMF amid protesters' fury

The government's economic policies and programmes will be considered by the IMF board at the end of August, says chief minister

Somalia bans arms trade by non-state entities

The Somali government has announced a "total ban" on arms trade by non-state bodies.

Egypt's Suez Canal income falls due to Red Sea shipping disruptions

The canal is a crucial source of foreign currency for Egypt, which is currently grappling with a severe financial crisis.

Live updates: US restricts visas of Israelis accused of West Bank 'violence'

Israel's war on Gaza, now in its 286th day, has killed at least 38,794 Palestinians — the majority of them women and children –– and wounded 89,364 others, with 10,000+ estimated to be buried under the debris and 9,500+

Ethiopia signs currency swap deal with UAE

The governments of Ethiopia and the United Arab Emirates have signed a currency swap deal amid low forex reserves in Ethiopia.

Nigerian ex-central bank chief's treatment request rejected

A Nigerian court has rejected former central bank chief Godwin Emefiele's request to seek medical treatment abroad.

South Africa's Malema faces calls for probe in collapsed bank scandal

Julius Malema, and his deputy Floyd Shivambu allegedly received millions in stolen funds, according to an affidavit of a former bank executive.

Why Africa needs to focus on soft skills in public finance management

African economies are positioned to leverage their immense growth potential through a series of skill development programmes aimed at translating the game-changing African Continental Free Trade Area into a reality.

Nigeria plans $1.3b stimulus to boost economy

Nigeria's President Bola Tinubu has planned an economic stimulus of $1.3 billion to address major challenges, including food insecurity.

South Africa business activity falls in June

Business activity in South Africa in the month of June fell due to uncertainty over elections, a new survey has revealed.