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 […]

On January 20, 2025, U.S. President Donald Trump issued an executive order that has sent shockwaves through the global health community. The order, which suspends all U.S. foreign aid for 90 days pending a review, has cast uncertainty over crucial HIV/AIDS programs funded by the U.S., particularly in sub-Saharan Africa. This includes the President’s Emergency […]

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 […]