Amid economic fluctuations, South Africa’s consumer spending remained resilient throughout 2023, according to insights from Visa and Discovery Bank. The SpendTrend24 report reveals that while 2022 saw a surge in post-pandemic spending, 2023 portrayed a more measured growth trajectory, closely tracking inflation rates. Elevated interest rates and inflationary pressures have strained consumers’ finances, particularly impacting […]

Nigeria’s electricity sector underwent a significant shift as the Nigerian Electricity Regulatory Commission (NERC) approved tariff increases targeting approximately 15% of consumers. This decision aims to reduce the strain on public finances by eliminating electricity subsidies for wealthier consumers. Following the announcement by presidential spokesperson Bayo Onanuga, the government moved swiftly to implement the tariff […]

Egypt and Ecuador are laying the groundwork for a strategic collaboration in the oil and gas sectors, as evidenced by the recent high-level meeting between Tarek El Molla, Egypt’s Minister of Petroleum and Mineral Resources, and Denys Toscano Amores, the Ecuadorian Ambassador to Cairo. During the meeting, Minister El Molla highlighted the vast potential for […]

The International Monetary Fund (IMF) has announced that Egypt’s access to its $8 billion financial program will hinge on the country’s commitment to allowing market dynamics to determine its currency’s value. Immediate disbursement of $820 million is scheduled for this week, with an additional $820 million contingent upon a review by the end of June. […]