The Bank of Tanzania (BoT) is intensifying its efforts to regulate digital lending in the country, targeting unlicensed operators in an industry that has rapidly gained traction. The move seeks to protect consumers, maintain market stability, and uphold ethical practices within the digital microfinance sector. BoT’s Crackdown and Licensing Requirements As of November 14, the […]

The South African housing market has received a significant boost following a reduction in the repo rate, signaling optimism for both first-time buyers and established homeowners. This move comes amidst a favorable economic environment, characterized by declining inflation and positive fiscal developments. The Monetary Policy Committee’s (MPC) decision to cut the repo rate by 25 […]

South Africa’s annual consumer price inflation (CPI) eased to 2.8% in October 2024, surpassing market expectations of 3.0% and marking a significant decline from the 3.8% recorded in September. The latest figure is the lowest since June 2020, when inflation was 2.2% during the COVID-19 pandemic. This milestone offers relief to South African households and […]

The International Monetary Fund (IMF) announced on Wednesday that its mission had concluded a visit to Egypt, making substantial progress on policy discussions for the fourth review of its ongoing loan programme. The review is a critical milestone for Egypt, as it could unlock over $1.2 billion in financing, providing much-needed support amid persistent economic […]

Nigeria and India have taken a significant step toward strengthening bilateral ties with the signing of a Customs Mutual Administrative Agreement (CMAA). The agreement, which reflects growing economic and diplomatic relations between the two nations, aims to facilitate trade, enhance customs enforcement, and promote economic development. A Landmark Partnership The signing ceremony, held at the […]

The International Monetary Fund (IMF) has entered a significant financing agreement with the Democratic Republic of Congo (DRC) worth $2.87 billion over three years. The deal includes $1.77 billion from the IMF’s Extended Credit Facility (ECF) and $1.1 billion from its climate-focused Resilience and Sustainability Facility (RSF), marking the first time the latter has been […]

Namibia, a nation historically reliant on diamond mining, stands on the precipice of an economic transformation. With significant offshore oil and gas finds luring global energy giants like TotalEnergies, Shell, Chevron, ExxonMobil, and Galp, Namibia is poised to double its GDP growth to 8% within a decade. According to Tom Alweendo, the country’s mining and […]

The National Bank of Ethiopia (NBE) has announced a significant policy shift that will grant exporters greater flexibility in managing their foreign currency earnings. Starting November 14, 2024, exporters will be permitted to retain 50% of their foreign currency earnings indefinitely while selling the other 50% immediately. This marks a departure from the previous requirement, […]

South African food producer Premier Group announced on Tuesday, November 12, 2024, that it is open to acquisitions, bolstered by a notable 32.4% increase in interim profit. The company now has R1.1 billion earmarked for strategic acquisitions as it aims to diversify and strengthen its market position. Premier Group, one of South Africa’s oldest and […]

Tanzania plans to increase its national budget by 11.6% for the 2025/2026 fiscal year, elevating it from TSh 49.35 trillion ($18.98 billion) to TSh 55.06 trillion ($20.4 billion). The proposed increase reflects the country’s ambition to fund domestic priorities and reduce its dependence on external financing sources. Tanzania’s Finance Minister Mwigulu Nchemba outlined the details […]