The Central Bank of Nigeria (CBN) has reiterated its commitment to addressing the nation’s rising inflation through continued interest rate hikes. Governor Olayemi Cardoso, in a recent interview with the Financial Times, assured that the Monetary Policy Committee (MPC) is dedicated to implementing necessary measures to stabilize the economy. Cardoso emphasized a strategic return to […]

Nigeria has launched a new online portal aimed at providing detailed information about the country’s mineral resources to potential investors. The Nigeria Mineral Resources Decision Support System (NMDSS) is designed to streamline access to data on Nigeria’s geological and mineral wealth, making it easier for investors worldwide to make informed decisions. The mining minister, Dele […]

In a move aimed at bolstering Nigeria’s informal sector, the Federal Government is set to introduce significant tax reforms. Mr. Taiwo Oyedele, chairing the Presidential Fiscal Policy and Tax Reforms Committee, unveiled this initiative during the committee’s closing session in Abuja. The proposed reforms target the bulk of businesses in the informal economy, offering tax […]

Egypt’s economic development took center stage during the recent “IFC Day in Egypt” conference, where key stakeholders convened to discuss strategies for enhancing the country’s private sector. Led by Minister of Trade and Industry Ahmed Samir, alongside ministers, officials, and business leaders, the event, organized by the International Finance Corporation (IFC), highlighted the strategic partnership […]

Ugandan President Yoweri Museveni’s recent announcement regarding taxation policies has ignited a trade dispute with Kenya. Museveni defended Uganda’s decision to increase taxes on agricultural imports from Kenya, emphasizing its strategic importance in bolstering Uganda’s economy. Under Uganda’s revised tax policy, consumer goods face increased taxation while essentials for production and industrialization remain exempt. Museveni […]

Cairo: Egypt’s economic landscape witnessed a significant upswing in April 2024, with the nation’s international reserves reaching an impressive $41.057 billion. This surge, reported by the Central Bank of Egypt, represents a notable increase of $696 million compared to the previous month. A key factor driving this growth is the appreciation in gold reserves, which […]

Nigeria’s financial sector is set to undergo a significant change with the introduction of a cybersecurity levy on electronic transactions. This decision, communicated through a circular from the Central Bank of Nigeria (CBN) on May 6, 2024, comes as a response to the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024. Under this new levy, deposit […]

In the fields of southern Chad, cotton farmers face an uncertain future as they grapple with the twin challenges of climate change and political neglect. For generations, cotton has been the backbone of communities like Kagtaou, sustaining livelihoods and fueling economic growth. However, the once-thriving industry now teeters on the brink of collapse. Declador Rimleldeoudje, […]

Nigeria’s Federal Government has recently approved a substantial salary boost, ranging between 25% and 35%, for civil servants across multiple consolidated salary structures. Effective January 1, 2024, this enhancement encompasses six key structures, including the Consolidated Public Service Salary Structure (CONPSS),  Consolidated Research and Allied Institutions Salary Structure (CONRAISS), Consolidated Police Salary Structure (CONPOSS), Consolidated […]

Cairo, Egypt – Egypt is embarking on a significant renewable energy initiative with a commitment of over $60 billion towards green hydrogen and ammonia projects. The New and Renewable Energy Authority (NREA) revealed plans to produce nearly 56 million tonnes of green hydrogen and ammonia annually by 2040, aiming to capture 5-8 percent of the […]