ECA and AfCFTA sign MoU to enhance continental trade integration
The Economic Commission for Africa (ECA) and the African Continental Free Trade Area (AfCFTA) Secretariat have formally partnered to bolster trade integration and economic development across the continent. This collaboration…
Johnvents secures $40.5M investment to boost cocoa production in Nigeria
Johnvents Group, a Nigerian agribusiness and manufacturing company, has secured a $40.5 million investment from British International Investment (BII), the UK's development finance institution. This partnership will significantly enhance Nigeria's…
Rwanda government bond hits lowest point in two years
Rwanda's only international government bond experienced its most significant decline since August 2022 on Wednesday, amid escalating concerns regarding the conflict in the neighbouring Democratic Republic of the Congo, where…
Egypt, Croatia sign MoU for improved trade ties
Egyptian Prime Minister and Croatian Prime Minister Andrezi Prenkovia have signed a Memorandum of Understanding (MOU) between the Egyptian Investment and Free Zone (GAFI) and the Croatian Ministry of Economic…
Government, World Bank to study Nairobi rail expansion
In April, the Kenya Railway Company will begin feasibility studies for the rehabilitation and expansion of the Nairobi Commuter Network, which is part of the World Bank-backed Nairobi Commuter Railway…
Ghana’s Fintech Affinity raises $8M in new seed funding
Affinity Africa, a Ghanaian digital banking startup, has raised $8 million in seed funding to expand its financial services and drive financial inclusion in Africa. The funding round, led by…
New CPI Rebasing: Inflation drops to 24.4%
The National Bureau of Statistics says Nigeria's inflation rate dropped to 24.4% in January 2025 following a rebasing of the Consumer Price Index (CPI). CPI rebasing means updating the reference…
Arkenu breaks monopoly in Libya with over $600 million export
Arkenu Oil Company, a private firm based in eastern Libya, has broken the 54-year monopoly of the state-owned National Oil Corporation (NOC) over the country’s oil exports. The NOC had…
Kenya sources bulk of its loan from China Development Bank
Kenya obtained 15 loans from China Development Bank, making it the main source of the cumulative KSh 68.7 billion the government borrowed from external bilateral and commercial lenders, between September…
Nigeria’s foreign reserves hit $4 billion for first time in 3 years
Nigeria's foreign exchange reserves exceeded $4 billion for the first time in almost three years, representing an important milestone in the country's economic relaxation efforts.Olayemi Cardoso, governor of the Central…
