As part of its ongoing efforts to deepen economic collaboration with African nations, the Central Bank of Egypt (CBE) has officially joined the Pan-African Payment and Settlement System (PAPSS). This move is poised to transform the way cross-border payments are conducted across the continent, reducing costs and processing times while strengthening Egypt’s economic ties with […]

The shareholders of the East African Crude Oil Pipeline (EACOP) have committed an additional $500 million to the project to address delays in debt financing, ensuring progress in construction. This significant injection has brought the equity contribution to 52%, surpassing the initial plan of 40% equity funding, as the developers grapple with sourcing debt financing […]

The governments of Nigeria and France have solidified a strategic partnership to bolster the critical minerals sector, marking a significant step towards diversifying the mining industry and enhancing its environmental and socio-economic impacts. This collaboration, formalized through a Memorandum of Understanding (MOU), was signed during Nigerian President Bola Ahmed Tinubu’s official visit to France on […]

The South African Reserve Bank (SARB) has issued an optimistic update on the country’s financial stability, highlighting significant economic improvements driven by political and structural changes. Key developments such as a stabilized coalition government, reduced power outages, and the SARB’s proactive monetary policies have bolstered investor confidence. Strengthened Currency Performance Notably, the South African rand […]

The International Monetary Fund (IMF) and Ethiopian authorities have reached a staff-level agreement to conclude the second review of the four-year, USD 3.4 billion Extended Credit Facility (ECF) arrangement. Formal approval by the IMF Executive Board would release approximately USD 251 million to Ethiopia, marking significant progress in the nation’s economic reform agenda. Ethiopia’s ambitious […]

Egypt and Liberia have signed a memorandum of understanding (MOU) to collaborate on aquaculture development, officials announced. The agreement, signed Monday by the Egyptian Lake Protection and Fish Resources Development Authority (LPRDA) and Liberia’s National Fisheries and Aquaculture Authority (NFAA), aims to boost sustainable development and economic integration in the fisheries sector. Strengthening African Partnerships […]

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 […]