Kenya to reduce exchange rate pressure with new oil import agreement
To alleviate pressure on the exchange rate, the Kenyan parliament extended the Government-to-Government (G-to-G) oil import agreement with three Gulf oil companies.The agreement was signed with Saudi Aramco, Abu Dhabi…
Google, Netflix tax payments to Nigeria surges by 68.12% in 2024
The Federal Government of Nigeria received N3.85 trillion in tax payments from foreign entities, including Google, Netflix, and Facebook, within the first nine months of 2024.The total reflects an increase…
Morocco targets 2030 World Cup investment with new 2.5% interest rate
Morocco's central bank, Bank al-Maghrib, has reduced its benchmark interest rate by 25 basis points to 2.5%, making it the second rate cut this year. The decision was made during…
Diaspora remittances up 61% – CBN
The Central bank of Nigeria says diaspora remittances reached $4.22 billion between January and October 2024.This figure is almost double the $2.62 billion recorded in the same period in 2023.CBN…
Nigeria targets 15% inflation in new budget proposal
Nigeria is targeting a reduction in inflation from 34.6% to 15% by the end of 2025. The President Bola Tinubu gave the projection during a presentation of the 2025 budget…
Ethiopian seeks more financial inclusion with new licences for foreign banks
Ethiopia will allow foreign banks to enter the country’s financial market by establishing subsidiaries, branches, or representative offices.Just days before the Ethiopian monetary policy committee meeting approved the policy, National…
South Africa’s Tyme Group to expand operations with new funding
South African digital bank Tyme Group has secured $250 million in a Series D funding round, achieving a valuation of $1.5 billion and entering the ranks of Africa’s unicorns. The…
Angola, Nigeria target digital transformation in West Africa with new partnership
With the expansion of Angola Cables’ partnership with TelCables Nigeria, the digital landscape of West Africa is set to undergo a major transformation. The company’s latest initiatives include the establishment…
African to address debt challenges with new credit rating agency
Nigeria and other African nations are pushing for the establishment of a continental credit rating agency to counter perceived biases by Western credit rating institutions. This was discussed during the…
DRC accuses Apple of using conflict minerals in new law suit
The Democratic Republic of Congo (DRC) has filed criminal complaints against Apple and its subsidiaries in France and Belgium, accusing the tech giant of complicity in using conflict minerals. These…
