Economy
Senegal Rejects IMF Push for Debt Restructuring as Sonko Says Accepting It Would Tarnish Nation’s Reputation
Senegal’s Prime Minister Ousmane Sonko has publicly rejected proposals from the International Monetary Fund (IMF) for a restructuring of Senegal’s soaring public debt, calling...
AfDB, Equatorial Guinea Seal €58.6m Deal to Train Youth, Create Jobs and Build New Technical Institutes
The African Development Bank Group (AfDB) and the Government of Equatorial Guinea have signed a €58.61 million financing agreement to launch Phase One of...
Nigeria Finalises $500 Million World Bank Loan to Scale Up Food Production and Strengthen Agricultural Value Chains
The Federal Government of Nigeria has completed arrangements to access a $500 million loan facility from the World Bank, a funding package targeted at...
Algeria Expands Islamic Finance to Counter Weak Investment Climate
Algeria’s government is widening the use of Islamic financial instruments in an attempt to revive sluggish investment levels and absorb the large amount of...
South Africa Reports R15.36 Billion Budget Deficit for September Amid Weak Revenue and Elevated Debt Concern
South Africa’s public finances came under renewed pressure in September, with the National Treasury reporting a budget deficit of R15.36 billion (about US$887 million)....
Botswana Raises Interest Rate to 3.5% as Inflation and Debt Pressures Mount
The Bank of Botswana increased its benchmark interest rate by 160 basis points to 3.5% on Thursday, marking its first rate hike after six...
IMF to Hold Fresh Talks with Mozambique in November on Economic Support and Policy Priorities
The International Monetary Fund (IMF) is set to send a delegation to Mozambique in November to continue discussions on the country’s economic outlook and...
Uganda Forecasts Nearly 15% Rise in Coffee Output for 2025/26 Season
Uganda expects coffee production to increase by 14.8% in the 2025/26 crop year (October–September), driven by higher yields from newly planted coffee trees, a...
Morocco’s Annual Inflation Edges Up to 0.4% in September
Morocco’s annual inflation rate rose slightly to 0.4% in September from 0.3% in August, according to data released on Wednesday by the country’s statistics...
Namibia Lowers 2025 Growth Forecast to 3.3% Amid Manufacturing Decline
Namibia has revised its 2025 economic growth forecast downward to 3.3%, from the 4.5% estimate announced in March, citing a sharp slowdown in manufacturing...
Senegal’s Debt Service Forecasts Surge by $5.8 Billion Amid IMF Talks
Senegal has sharply raised its projected debt service payments by about 3.2 trillion CFA francs ($5.8 billion) over the next three years, according to...
Somalia’s Economy Hit Hard by U.S. Aid Cuts, Says Development Bank Chief
Somalia’s development bank chief has warned that recent U.S. aid reductions have had a “severe impact” on the nation’s economy.She explained that the cuts...
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