The Washington-based lender noted that despite recent fiscal slippages, bold corrective steps by the new administration have kept programme goals within reach, buoyed by strong export earnings, rising reserves and renewed commitments to fiscal discipline.| Finance in Africa
The country’s new gold regulator has also suspended the trading licences of all foreign traders, effective immediately, as it moves to centralise control of artisanal gold exports.| Finance in Africa
Despite the apparent drop in headline inflation, Nigerians continue to face high costs of essentials amid ongoing economic challenges.| Finance in Africa
Nigeria’s central bank has held its benchmark interest rate at 27.5%, as it weighed slowing inflation against lingering economic pressures.| Finance in Africa
Nigeria is set to receive a $500 million loan from the African Development Bank (AfDB) to support its ongoing economic reforms.| Finance in Africa
Kenya is set to launch a sovereign wealth fund and an infrastructure fund, as the government looks to finance key sectors through asset sales.| Finance in Africa
Malawi’s newly elected president, Peter Mutharika, has reappointed Joseph Mwanamvekha as finance minister, according to an official statement.| Finance in Africa
Kenya cuts rates again despite mounting price pressures | Finance in Africa
The central bank has indicated it could lower its benchmark rate if inflationary pressures persist in easing.| Finance in Africa
Kenya’s inflation accelerated in August to 4.5% from 4.1% in July, hitting a 14-month high after the CBK delivered its seventh consecutive rate cut.| Finance in Africa
Nigeria’s inflation rate slowed for the second month in a row in May, falling to 22.97% from 23.71% in April.| Finance in Africa
Ghana’s annual inflation slowed sharply to 18.4% in May, marking its lowest level since February 2022.| Finance in Africa
Wegagen Bank boosts capital by 37%, tops Ethiopia’s $34m regulatory threshold| Finance in Africa
