South Africa’s Central Bank cuts interest rates for first time in four years
The South African Reserve Bank (SARB) has lowered its benchmark interest rate by 25 basis points to 8%, marking the first rate cut since 2020.This decision follows the U.S. Federal…
Coca-Cola Company to invest $1bn in Nigeria
Coca-Cola has made a significant commitment to Nigeria's economy, pledging to invest $1 billion over the next five years. This announcement was made during a meeting between President Bola Tinubu…
Nigeria targets ₦150billion from bond market in September 2024
The Nigerian government is looking to raise ₦150billion from the bond market this month. The bond is part of the government's strategy to bridge budget deficit. It comes after the…
Fuel queues end in Burundi but supply remains low
Fuel supplies arrived in Burundi this week, ending weeks of queues at gas stations due to shortages and easing the situation.Power lines were seen cut at checkpoints in the country's…
Kenya targets export growth with new coffee brand
The Kenya Export Promotion and Branding Agency (KEPROBA) and the Coffee Directorate of the Agriculture and Food Authority (AFA) have signed a partnership agreement that will see the two organisations…
Ghana’s economy grows by 6.9% in Q2 2024
Ghana's economy grew by 6.9% in the second quarter of 2024, its fastest growth in 5 years. This is according to data published by Ghana's statistics agency. It represents a…
Zimbabwe’s volatile economy hinders independent power projects
The government says it is working to create an independent force to help tackle Zimbabwe's intractable problems of lack of funding and economic instability.The southern African country is battling a…
CBN to expand e-Naira for government transactions
The Central Bank of Nigeria (CBN) has unveiled plans to broaden the application of its digital currency, eNaira, to facilitate seamless payments into government accounts.The eNaira, a digital form of…
New Madagascar power plant to boost electricity supply
A revolutionary project is underway on the east coast of Madagascar that could impact the lives of millions of Malagasy people.Bisecting the green landscape of rural Toamasina, the 120-megawatt Wolobe…
South Sudan, Sudan agree on steps to restart oil production
Sudan and South Sudan have agreed to restart oil production during talks in Juba, South Sudan. Oil production had been halted due to the conflict in Sudan. Sudan's 17-month civil…
