European Commission Grants €1 Billion in Macro-Financial Assistance to Egypt
The European Commission has adopted a decision to disburse €1 billion in loans to Egypt following the fulfilment of the policy conditions agreed with the EU...
Category : ECONOMY
Libya Lost $600 Billion in a Decade, GDP Could Have Been 74% Higher Without Conflict: World Bank Report
A recent World Bank report has revealed the staggering economic toll of Libya’s protracted conflict, estimating losses of over $600 billion in the past decade....
SMEs Risk Falling Behind Without Proper Tools to Handle Festive Season Rush
As the festive season approaches, small and medium enterprises (SMEs) face a critical period that could make or break their yearly performance. The holiday rush...
Botswana’s new government lifts ban on South African vegetable imports.
The Botswana government has lifted import bans on vegetables from South Africa in two phases, with the second phase expected to take effect in April.Botswana...
Congress to Vote on New Restrictions for US Investment in China Amid Growing Tensions
The United States Congress is set to vote on a new set of restrictions that would limit American investments in Chinese companies, marking a significant...
KTDA Announces Record-High Dividends for Tea Farmers
The Kenya Tea Development Agency (KTDA) has declared the highest dividends in its history, bringing relief and optimism to tea farmers across the country. This...
Cabinet Approves Bus Rapid Transit System, Extends Government-to-Government Fuel Agreement
The Cabinet has officially approved the implementation of the Bus Rapid Transit (BRT) system as part of efforts to improve urban mobility and address traffic...
Zambia Receives $184 Million from IMF After Successful Program Review
Zambia has secured a significant financial boost of $184 million from the International Monetary Fund (IMF) following the successful completion of a program review. The...
World Bank Revises Kenya’s 2024 Growth Forecast to 4.7% Amid Fiscal Challenges
The World Bank has revised Kenya’s 2024 economic growth forecast to 4.7%, down from its previous projection of 5.3%, citing ongoing fiscal challenges and economic...
33 African Nations Gain Zero-Tariff Access to Chinese Market
China has announced a significant trade policy that grants zero-tariff access to 33 African countries, a move set to deepen economic ties between the continent...
New Financial Law and 2024/2025 Fiscal Budget Come Into Effect
The new financial law and the 2024/2025 fiscal budget have officially entered into force, marking a significant shift in the country’s economic landscape. The law...
Fuel Prices Set to Rise Again, Hitting Motorists Starting Wednesday
Motorists are bracing for another fuel price hike set to take effect on Wednesday, marking the latest in a series of increases this year. The...
South Africa’s GDP per Capita Falls for Sixth Consecutive Quarter, Economists Divided on Rate Cut Size
South Africa’s economic challenges deepened as the country’s GDP per capita fell for the sixth consecutive quarter, signaling ongoing struggles in the face of rising...
Namibia: Galp’s Appraisal Well Confirms Light Oil and Gas-Condensate at Mopane Discovery
Energy company Galp has announced a significant breakthrough in Namibia, where its appraisal well on the massive Mopane discovery has confirmed the presence of light...
Ethiopia Secures Additional $251 Million From IMF After Second Review of $3.4 Billion ECF Agreement
Ethiopia is poised to receive an additional US$251 million from the International Monetary Fund (IMF) as part of a four-year, $3.4 billion Extended Credit Facility...
Goldman Sachs Predicts Sharp Decline in South Africa’s Inflation and Interest Rate Cuts by 2025
Goldman Sachs has expressed optimism regarding South Africa’s economic outlook, forecasting significant improvements in inflation and interest rates by 2025. The bank anticipates a notable...
S&P Global Upgrades Eskom’s Credit Rating Amid Government Support
Eskom Holdings SOC Ltd., South Africa’s state-owned power utility, has received a notable credit rating upgrade from S&P Global Ratings. The rating was elevated from...
Trade Minister Intervenes to Challenge Vodacom-Remgro Deal Block
South Africa’s Minister of Trade, Industry, and Competition is reportedly exploring options to overturn the Competition Tribunal’s decision to block Vodacom’s acquisition of a significant...
Egypt Launches $500 Million Sustainability Bond to Drive Climate Finance and Support MSMEs
Arab African International Bank (AAIB) today issued a $500 million sustainability bond, with investments from IFC, the European Bank for Reconstruction and Development (EBRD), and British...
Impact of Trump Tariffs on South African Exports
The introduction of tariffs by former US President Donald Trump had a significant impact on global trade dynamics. South Africa as a developing economy was...