Nigeria’s Central Bank (CBN) has announced an optimistic economic outlook for 2025, projecting a Gross Domestic Product (GDP) growth of 4.17%, up from 3.36% in 2024. This forecast comes at a time when the country is navigating complex domestic and global economic landscapes, including fiscal and monetary reforms, fluctuating oil prices, and efforts to diversify […]

The South African economy, the most industrialized on the African continent, is showing signs of improvement, with growth projected to reach nearly 2% in 2025 compared to a forecast of 1.1% for 2024. This optimistic outlook was presented by South African Reserve Bank (SARB) Governor Lesetja Kganyago during an interview at the World Economic Forum’s […]

Introduction to a New Era of Financial Innovation In a bold move to modernize Nigeria’s financial ecosystem, the Central Bank of Nigeria (CBN) unveiled two transformative initiatives on January 17, 2025: the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution. This milestone marks another step in the CBN’s ongoing […]

The 36 state governors of Nigeria, operating under the Nigeria Governors’ Forum (NGF), have reaffirmed their support for the legislative process aimed at passing the Tax Reform Bills currently under consideration at the National Assembly. This development was part of a communiqué issued following subnational consultations and a high-level engagement with the Presidential Tax Reform […]

Nigeria recorded the highest inflation rate among Africa’s ten largest economies in December 2024, a stark economic indicator that has raised serious concerns among policymakers, businesses, and households. Data from the International Monetary Fund (IMF) revealed that Nigeria’s inflation rate stood at a staggering 34.80%, a figure that places it well above its peers on […]

Nigeria’s crude oil production has achieved a significant milestone, recording a year-on-year (YoY) increase of 6.3% to reach 1.507 million barrels per day (bpd) in December 2024, according to data from the Organisation of Petroleum Exporting Countries (OPEC). This marks a notable improvement from 1.418 million bpd recorded in December 2023. On a month-on-month (MoM) […]

Economic Outlook for Sub-Saharan Africa Sub-Saharan Africa is poised for economic growth of 4.2% in 2025, up from an estimated 3.8% in 2024, according to a recent report by Moody’s Ratings. This anticipated growth exceeds the region’s average performance over the past decade, which was constrained by multiple global and regional challenges, including the 2014-2016 […]

Nigeria’s economy has faced an unprecedented crisis over the last eight years, losing an estimated $300 billion in Gross Domestic Product (GDP). This decline has pushed the country from its former position as Africa’s largest economy to the fourth, trailing Egypt, South Africa, and Algeria. Tilewa Adebajo, CEO of CFG Advisory, unveiled these findings in […]

The China Development Bank (CDB) has approved the release of a $254.76 million loan to Nigeria for the construction of the Kano-Kaduna railway project. This funding comes as part of China’s broader engagement with African nations through its Belt and Road Initiative (BRI), aimed at fostering infrastructure development and economic integration. The announcement of the […]

Zambia’s national currency, the kwacha, remains under significant strain, hitting a series of record lows as the nation grapples with severe drought conditions and their cascading economic effects. As a copper-dependent Southern African economy, Zambia’s challenges are compounded by falling copper production, debt pressures, and disrupted power generation. Currency Under Pressure The kwacha has depreciated […]