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Moody’s Investors Service has elevated the City of Cape Town’s long-term local-currency issuer rating from Ba3 to Ba2, bringing it just one notch below South Africa’s sovereign rating of Ba1. This milestone reflects Cape Town’s disciplined financial governance, robust liquidity, and a cautiously improving economic outlook—despite the broader challenges facing the national economy (Engineering News, […]

South Africa’s labour market showed renewed stress in the first quarter of 2025, with the official unemployment rate climbing to 32.9 percent, up a full percentage point from 31.9 percent in Q4 2024. The unexpected rise—well above economists’ forecast of a 0.2 point uptick—underscores persistent structural challenges in what remains one of the world’s highest […]

China has taken decisive action by suspending all imports of beef and related products from South Africa with immediate effect. This stringent measure follows the confirmation of ongoing and concerning outbreaks of Foot and Mouth Disease (FMD) in several key agricultural provinces within South Africa, namely Mpumalanga, Gauteng, and KwaZulu-Natal. The Red Meat Industry Services […]

Koidu Limited, the preeminent diamond mining company operating in Sierra Leone and a significant contributor to the nation’s economy, has made the drastic decision to halt all mining operations. This shutdown has resulted in the layoff of virtually its entire local workforce, comprising more than 1,000 employees, marking a severe blow to the local economy […]

In a landmark move to shore up public finances, Nigeria’s Senate on May 9, 2025 approved four crucial tax reform bills designed to raise government revenue, streamline tax administration and strengthen fiscal discipline. Spearheaded by President Bola Tinubu’s administration, these measures mark the culmination of a sweeping overhaul that began with subsidy removals and multiple […]

In early May 2025, global markets were rattled when JPMorgan Chase issued a $200 million margin call against Angola’s $1 billion loan facility, arranged as a Total Return Swap (TRS) last December. That request for additional collateral—triggered by a sudden drop in the price of Angolan government dollar bonds used as security—thrust the oil‐rich nation’s precarious public […]

In a landmark move set to reshape the future of Nigeria’s power sector, the Federal Executive Council (FEC) has approved the long-awaited National Integrated Electricity Policy (NIEP), a pivotal roadmap aimed at reforming and modernizing the Nigerian Electricity Supply Industry (NESI). This strategic approval, which comes months after the policy’s initial submission in December 2024, […]

In a decisive move to reshape Nigeria’s economic trajectory, the Federal Executive Council (FEC) on May 5, 2025, approved the Renewed Hope Nigeria First Policy, a sweeping framework designed to place homegrown businesses and manufacturers at the center of all federal procurement and investment decisions. Presided over by President Bola Ahmed Tinubu, the Council directed […]

Eskom has delivered a message of optimism to South Africans ahead of the coming winter season, promising no load shedding for at least the next four months and warning that, even in a worst‑case scenario, rolling blackouts would be limited to brief, low‑level interruptions. At a pre‑winter media briefing on May 5, 2025, held at Megawatt […]

Tanzania’s financial landscape has undergone a dramatic shift with the recent implementation of new regulations that prohibit the use of foreign currencies, including the US dollar, for local transactions. These new rules, announced by the Bank of Tanzania and published in the Government Gazette on March 28, 2025, have set the stage for a significant […]