South Africa’s government is set to implement significant visa reforms aimed at stimulating economic growth by attracting skilled workers, tourists, and capital investment. These changes mark a departure from past immigration policies that have been criticized as xenophobic and overly restrictive. Home Affairs Minister Leon Schreiber, who announced the upcoming reforms, emphasized the potential of […]

In April 2024, Zimbabwe introduced a new gold-backed currency, the Zimbabwe Gold (ZiG or ZWG), hoping to stabilize the country’s economy and reign in rampant inflation. The government touted it as a bold move to restore public confidence in the local currency, which had suffered through decades of hyperinflation, devaluation, and dependence on the US […]

South Sudan is facing profound macroeconomic challenges amid a deteriorating political and security landscape. These challenges are compounded by the ongoing conflict in neighboring Sudan, recurrent flooding, and the country’s heavy reliance on oil revenues. As the country struggles with economic instability, the International Monetary Fund (IMF) is assessing the readiness of the South Sudanese […]

In a significant turn of events, Ghana is set to witness a three-day protest against illegal mining activities, a pressing issue that has stirred public outcry over environmental degradation, and the controversial detention of 54 activists. These protests, set to commence on Thursday, will culminate in a vigil on Saturday. Organized by various civil society […]

In Nigeria, commercial banks are facing mounting pressure as they continue to withhold cash from customers, exacerbating an already tense situation of cash scarcity across the country. While banks claim the Central Bank of Nigeria (CBN) has failed to provide sufficient cash, the CBN maintains that the banks are hoarding funds. The stalemate has left […]

In a decisive move aimed at supporting economic recovery, the Bank of Ghana slashed its benchmark interest rate by 200 basis points to 27%, marking the first rate cut since January. The central bank’s decision reflects confidence in the country’s ongoing disinflation process and improving macroeconomic conditions. Bank of Ghana Governor Ernest Addison, addressing a […]

The Africa Finance Corporation (AFC) has announced a partnership with Itana, a digital economic zone management company, to develop Africa’s first digital economic zone. This initiative marks a significant step forward in creating a unified platform for businesses to operate and scale efficiently across the continent, with a particular focus on leveraging digital technologies and […]

The Central Bank of Nigeria (CBN) is continuing its fight against inflation with aggressive monetary policy measures. While central banks in the U.S., U.K., and the European Union have declared victory over inflation, the battle persists in Nigeria, where inflationary pressures remain a major concern. In response, the CBN’s Monetary Policy Committee (MPC) unanimously decided […]

Nigeria’s external reserves have surged to a 22-month high, reaching $37.31 billion as of September 18, 2024, according to data released by the Central Bank of Nigeria (CBN). This marks the highest level since November 4, 2022, when the reserves stood at $37.36 billion. The increase signals a significant recovery in Nigeria’s foreign currency position […]

Rwanda is the latest country to embrace data vending as a new revenue stream for its stock exchange, following the footsteps of other East African countries like Kenya, Tanzania, and Uganda. The Rwanda Stock Exchange (RSE) is making this strategic move to offset declining trading incomes caused by sluggish equity market performance, shrinking rights issues, […]