Nigeria’s oil and gas sector faces unprecedented disruption as a nationwide strike launched by petroleum workers has forced the closure of critical government offices, including the national oil regulator and state oil company facilities. The industrial action, which began on Monday, was triggered after the Dangote Oil Refinery dismissed more than 800 workers who were […]

The Zambian government has announced an ambitious fiscal consolidation strategy targeting a dramatic reduction in its budget deficit as part of a newly approved medium-term economic framework covering 2026–2028. The comprehensive plan, recently endorsed by Cabinet and presented by Finance Minister Situmbeko Musokotwane, aims to strengthen fiscal discipline, restore macroeconomic stability, and rebuild investor confidence […]

Zimbabwe has taken a decisive step toward transforming its economic trajectory with the successful deployment of a revolutionary Tax and Revenue Management System (TaRMS), marking the culmination of a comprehensive digital transformation initiative that could serve as a blueprint for addressing Africa’s massive revenue mobilization challenges. The African Development Bank-funded project, officially launched on August […]

Nigeria’s money markets experienced significant repricing on Wednesday as overnight lending rates fell 100 basis points to 25.5% following the Central Bank of Nigeria’s historic decision to cut its benchmark rate for the first time since 2020. The rate adjustment, coupled with a surge in banking system liquidity to 3 trillion naira ($2.02 billion), marks […]

The Central Bank of Nigeria (CBN) has made a decisive turn in its monetary stance by trimming its Monetary Policy Rate (MPR) by 50 basis points, lowering it from 27.5% to 27%. The move, announced after the 302nd Monetary Policy Committee (MPC) meeting on September 22–23, 2025, marks the first policy rate cut in five […]

Nigeria’s economy has recorded its fastest growth rate in nearly four years, with Gross Domestic Product (GDP) expanding by 4.23% year-on-year in the second quarter of 2025, according to data released by the National Bureau of Statistics (NBS) on Monday. This represents a significant improvement from the 3.48% growth recorded in the same period of […]

The diplomatic relationship between the Kingdom of Saudi Arabia and Tanzania has evolved into a comprehensive strategic partnership that transcends traditional ceremonial exchanges. As Saudi Arabia marked its 45th National Day with renewed commitment to deepening cooperation with Tanzania, the partnership has demonstrated remarkable progress across multiple sectors, positioning both nations for sustained economic growth […]

The South African Reserve Bank’s Monetary Policy Committee made the strategic decision to hold the policy rate unchanged at 7% on Thursday, marking a pause in the central bank’s easing cycle that began in September 2024. The decision revealed a split within the committee, with four members favoring the status quo while two advocated for […]

Nigeria has achieved a breakthrough in agricultural financing with the Bank of Agriculture and Afreximbank securing a $1 billion fund designed to transform the livelihoods of smallholder farmers who produce over 90% of the country’s food supply, marking the largest agricultural intervention in the nation’s recent history and setting new precedents for continental food security […]

African trade ministers gathered in Cairo on Tuesday for the 17th Ministerial Meeting under Egypt’s presidency of the African Continental Free Trade Area (AfCFTA) Council, as the continent seeks to address persistent challenges that have kept intra-African trade at just 14-15% compared to Europe’s 60-70%. The high-level gathering, chaired by Egyptian Minister of Investment and […]