Egypt’s Central Bank delivered its fourth interest rate reduction of 2025 on Thursday, cutting overnight rates by 100 basis points as policymakers determined that inflationary pressures remain sufficiently contained to justify continued monetary easing despite robust economic growth that accelerated to 5% in the second quarter of the year. The Central Bank of Egypt’s Monetary […]

Somalia stands on the cusp of a potentially transformative economic milestone as the nation prepares to launch its first offshore oil drilling operations in January 2026, marking a pivotal moment that could reshape the Horn of Africa nation’s economic trajectory and elevate it from aid dependency to joining the ranks of global fossil-fuel producers. According […]

South Africa’s formal sector experienced a significant contraction in the second quarter of 2025, shedding 80,000 jobs and pushing total employment down by 0.8 percent from the previous quarter. Statistics South Africa reported on Tuesday that total employment fell from 10.59 million in March to 10.51 million in June, marking another troubling chapter in the […]

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 […]