Economy & Trade

Neighbours Rwanda and Burundi trade accusations amid tensions

Media reports quoted President Evariste Ndayishimiye as saying Rwandans needed to “start putting pressure” on their leaders.

Nigeria's ex-central bank chief Emefiele charged with $6.2m fraud

The trial of Godwin Emefiele will begin next month after he denied the charges.

UN: 2023 deadliest year for Palestinians in West Bank

The sharp rise in the number of deaths comes amid Israeli continued attacks on Palestinians.

Africa's destiny: A bold call for Pan-African unity

A resounding call for change resonates throughout the continent advocating for a robust Pan-African collaboration, prioritising trade agreements and economic partnerships.

Ghana reaches debt restructuring deal amid economic crisis

The country's economic outlook will be a major part of campaigning for the presidential election in December.

Hibiscus: Nigeria's emerging export

Hibiscus has emerged as an unlikely balm on inflationary wounds in Nigeria. Export of the flower, whose extract is used in beverages and healthcare products, is now a foreign exchange earner.

Nigeria's economic support scheme suspended amid fraud probe

President Bola Tinubu forms a panel consisting of cabinet ministers to review the country's welfare programmes and recommend necessary reforms.

Türkiye's regulations on crypto assets close to ready: Finance minister

"With crypto asset regulations, our primary goal is to create a safer space and eliminate potential risks,” Turkish Finance Minister Mehmet Simsek says.

Türkiye and Kyrgyzstan strengthen bonds with strategic joint initiatives

Turkish and Kyrgyz ministers address economic ties, cooperation in healthcare and counterterrorism, regional solutions, and strategies to enhance the efficiency and sustainability of mutual trade.

Nigeria pays $2 billion forex liabilities to boost confidence

The payment is part of efforts by the Central Bank of Nigeria (CBN) to settle all valid forward transactions and alleviate pressure on exchange rate.

Nigeria's Dangote firm under forex misuse probe

Dangote Group is under probe over alleged misuse of foreign exchange from the central bank.

Why Türkiye is Africa's most sought-after trade partner

Türkiye's trade volume with Africa has increased 7.5 times in two decades of steadfastly building economic partnerships with the continent, based on a respectful strategy of aligning its business interests with various c

Live Updates: Hamas 'open' to one national govt in Gaza, West Bank — Haniya

Israel's aggression on besieged Gaza — now in its 88th day — has killed at least 21,978 Palestinians and wounded 56,697 as Tel Aviv continues bombardment of cities, towns and refugee camps across the enclave.

Rwanda stresses ban on transactions in foreign currency

The central bank governor said all transactions in the country should be settled in Rwandan francs as provided for by the law

Türkiye's November foreign trade deficit shrinks

Exports increased by 5.2% to $23 billion, fostering higher expectations for the upcoming year amid the transformation in the country's economic plans.

Nigeria assures depositors on health of banks

The Central Bank of Nigeria says there is no cause for concern on the stability of the financial system.

Ethiopia defaults on debt as economy slows

The country has been under severe financial strain in the wake of the COVID-19 pandemic and a two-year civil war that ended in November 2022.

Libya's stock market reopens after nine years

After more than nine years of closure, Libya's stock market reopened on December 25, 2023.

DRC opens major financial centre built by Turkish firm

DRC has opened a major financial centre in the capital Kinshasa built by Turkish firm, Milvest.

Live Updates: Israel resumes its raids across occupied West Bank

Israel's brutal invasion of besieged Gaza — now in its 78th day — has left at least 20,057 Palestinians dead, mostly women and children, and wounded 53,320, while thousands are feared buried under debris of bombed homes.

Türkiye expects faster global capital inflow once inflation is subdued

Stabilisation in inflation will help stock market grow and facilitate investors' access to financing resources, says President Recep Tayyip Erdogan.

Türkiye's shift in economic policy mitigated near-term risks, experts say

Türkiye's tighter monetary policy is expected to boost the economy in 2024, leading to a more positive following year, according to finance analysts.

Turkish Central Bank raises interest rate by 250 basis points

The Turkish Central Bank releases a statement announcing that its monetary policy committee has decided to promptly conclude monetary tightening measures.

World Bank approves $1.14 billion loans for Tanzania

The loans are meant to support Tanzania's private sector, develop its commercial capital and fight effects of climate change, the bank said.