The World Bank has revised its economic growth forecast for South Africa, increasing its 2025 GDP projection from 1.6% to 1.8%, citing improvements in energy supply and logistics infrastructure as key drivers. The latest South Africa Economic Update report, released on Tuesday, attributes these gains to structural reforms initiated by the government. Additionally, the World […]

In a significant move aimed at addressing long-standing pension arrears, Nigeria’s Federal Executive Council (FEC) has approved the issuance of a Federal Government bond worth N758 billion (approximately $509.3 million). This decision, which was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, marks a crucial step toward clearing the […]

In a significant economic development, Egypt’s non-oil private sector expanded in January 2025, marking its first growth since August and achieving its best performance in over four years. This positive trend is highlighted by S&P Global’s Purchasing Managers’ Index (PMI), which rose to 50.7 in January from 48.1 in December. A PMI reading above 50.0 […]

In a move that has sparked international controversy, former President Donald Trump has announced his intention to halt U.S. aid to South Africa, citing the country’s controversial land expropriation policies. Trump’s remarks have already had significant economic repercussions, with the South African rand plunging by 2% in Asian trading on Monday, as concerns mount over […]

Introduction: A Major Step Toward Energy Access The Nigerian government has secured a $1.1 billion loan from the African Development Bank (AfDB) to provide electricity to 5 million people by the end of 2026. This funding is part of a broader effort to tackle Nigeria’s energy access deficit, which has long hampered economic growth and […]

Namibia, a country of about three million people, has officially recorded an unemployment rate of 36.9% for the year 2023, marking a concerning increase from 33.4% in 2018. With this figure, Namibia joins the ranks of nations with some of the highest unemployment rates in the world, a statistic that raises alarm about the country’s […]

Introduction Nigeria’s external debt burden is poised to escalate significantly as the naira continues its sharp depreciation against the US dollar. Economic analysts warn that the prolonged slide of the local currency will increase the cost of servicing foreign debts, adding pressure to the country’s fiscal position and raising concerns over long-term economic sustainability. A […]

Ghana’s central bank has maintained its benchmark interest rate at 27.00% for the second consecutive meeting, signaling a cautious approach as the nation awaits detailed economic policy plans from the newly elected administration of President John Dramani Mahama. This decision comes amid heightened inflationary pressures and lingering economic challenges as Ghana seeks to recover from […]

The World Economic Forum (WEF) concluded its annual meeting in Davos, Switzerland, on Friday, leaving policymakers, business leaders, and global citizens with a clearer roadmap for navigating an era defined by technological innovation and societal challenges. Under the theme “Collaboration for the Intelligent Age,” the meeting revolved around five pivotal areas: reimagining growth, industries in […]

The operational phase of the African Continental Free Trade Area (AfCFTA) was launched on July 7, 2019, during the 12th Extraordinary Summit of the African Union (AU) held in Niamey, Niger. This historic moment marked a significant milestone in Africa’s journey toward economic integration and development, as it aimed to establish a single market for […]