Zimbabwe’s financial landscape is entering a new chapter with the introduction of the Zimbabwe Gold (ZiG), the country’s latest attempt to stabilize its economy. This article explores the historical context, economic hurdles, and potential pathways for the ZiG’s success. A Legacy of Hyperinflation and Currency Woes To understand the ZiG’s prospects, it’s essential to consider […]

Nigeria is facing a significant economic challenge as its headline inflation rate surged to a new high of 34.19% in June 2024, up from 33.95% in May, according to the latest data from the National Bureau of Statistics (NBS). This increase of 0.24 percentage points highlights the growing financial strain exacerbated by steep rises in […]

Governor Yemi Cardoso of the Central Bank of Nigeria (CBN) recently highlighted the significant impact of the bank’s ongoing economic reforms during the Business Day CEO Forum 2024. Cardoso emphasized that these measures have resulted in a noteworthy 50% reduction in month-on-month inflation between February and May. Speaking at the forum, Cardoso underscored the pivotal […]

In a promising move towards strengthening international relations, President Alexander Lukashenko of Belarus has expressed a strong interest in partnering with Nigeria across key economic sectors. This announcement was made during a visit from Nigeria’s First Lady, Oluremi Tinubu, in the Belarusian capital, Minsk. Building Stronger Ties President Lukashenko highlighted specific areas where Belarus is […]

Egypt’s government is forecasting a significant drop in petroleum exports, predicting they will fall to $7.95 billion for the fiscal year 2024-2025, down from $10.22 billion in the previous year. Economic Challenges Ahead This expected decline in petroleum exports comes amid broader economic challenges for Egypt. The central bank recently reported a shift in the […]

Qatar Chamber warmly welcomed a delegation from Burundi led by Victor Ndabaniwe, Chief of the Teacher’s Housing Foundation, and His Excellency Isidore Ntirampeba, Ambassador of Burundi to Qatar. The meeting, chaired by Qatar Chamber’s first vice-chairman, Mohamed bin Towar al-Kuwari, aimed to strengthen economic cooperation between the two nations. Exploring New Investment Avenues The discussions […]

Galiche Buwa, a 75-year-old widow, has survived civil wars, famine, and natural disasters. Her grocery business has been her lifeline through these turbulent times. However, the recent rupture of a key pipeline in Sudan has put even this staple of stability at risk, shaking the foundations of South Sudan’s economy. The pipeline, crucial for transporting […]

In a significant move to bolster its development, Rwanda has secured a $1 billion funding agreement from South Korea. This new deal, covering the period from 2024 to 2028, replaces and doubles the previous four-year $500 million agreement that was set to end in 2026. Investment in Key Sectors The Rwandan Finance Ministry announced on […]

ABUJA: Nigeria has secured the bid to host the newly established Africa Energy Bank (AEB), surpassing Algeria, Benin, and Ghana in the process. This decision was made at an extraordinary meeting of the Council of Ministers of the African Petroleum Producers Organization (APPO), as announced by Minister of State for Petroleum Resources Heineken Lokpobiri. Photo: […]

In response to the United States’ new subsidies aimed at enhancing domestic electric vehicle (EV) production, Chinese manufacturers are increasingly investing in Morocco. This North African country has become an unexpected hotspot for such investments, with plans for new factories near Tangiers and industrial parks along the Atlantic Ocean. These factories aim to produce parts […]