Here, we delve into macroeconomic trends, monetary policies, and fiscal developments impacting the African economy.
Ghana’s Ongoing Debt to the IMF Ghana has retained its position as the African country with the highest indebtedness to the International Monetary Fund (IMF). Over the considered period, Ghana’s debt to the IMF increased by 35.55%, as per data from the IMF’s Quarterly Finances for July-ending 2023. A Significant Share of Ghana’s Total Loans … Read more
Co-operative Bank of Kenya Plc (COOP) was honoured with the prestigious Best Financier of SMEs in Africa Golden Award at the 2023 Global SME Finance Awards. The award recognizes the bank’s exceptional financial products and services tailored to SME clients, positioning it ahead of competitors in Kenya’s SME financing sector. Global SME Finance Awards 2023: … Read more
Fostering International Investment: President Ruto’s Delegation Heads to the US Kenya’s President, William Ruto, is set to lead a high-profile delegation to the United States for the second US-Kenya Business Roadshow. The delegation, which includes the US Ambassador to Kenya, Meg Whitman, is focused on attracting venture capital (VC) investment into Kenya’s burgeoning tech industry. … Read more
The Land Deal Unveiled: A Transformational Carbon Credit Agreement In an unexpected move, Liberia is poised to transfer control of nearly 10% of its territory to a United Arab Emirates-based company, Blue Carbon. This ambitious agreement, covering a vast one million hectares, aims to harness carbon credits as a powerful tool in the global fight … Read more
Ghana’s inflation rate for August 2023 has dipped to 40.1%, down from the 43.1% recorded in July of the same year. This significant decrease indicates that, compared to August 2022, the general price level was 40.1% higher. Let’s dive into the details. Food Inflation Shows Improvement Among the noteworthy changes, food inflation also exhibited a … Read more
Marracuene, Mozambique – In a significant development, the Ministry of Industry and Trade in Mozambique has released impressive trade statistics, indicating that around 60 million tonnes of various products have been exchanged within the country over the past three years. This remarkable achievement represents a substantial 70.1% of the ministry’s targeted output for the 2020-2024 … Read more
The Central Bank of Kenya (CBK) recently conducted its weekly treasury bills auction, revealing a notable surge in investor interest. The auction, which had initially offered KSh 24 billion worth of treasury bills, attracted bids amounting to KSh 38.8 billion—an impressive oversubscription rate of 161.8%. This article delves into the details of this auction, highlighting … Read more
In the month of August, we observed a concerted effort by certain financial stocks, such as Societe Generale, Standard Chartered, GCB Bank, and SIC, to counteract the prevailing negative returns that have cast a shadow over the equity sector this year. This collective endeavour resulted in a noteworthy reduction in losses for the GSE Financial … Read more
In a strategic move aimed at bolstering Ghana’s petroleum reserves, the Ghana National Petroleum Corporation (GNPC) has embarked on an exploratory mission in the vast inland sedimentary basin that encompasses approximately 40% of the country’s continental landmass. This ambitious endeavour, situated in the Voltaian basin, holds tremendous potential for replenishing Ghana’s petroleum resources and is … Read more
Kenya is set to commence avocado fruit exports to India this September, marking a significant milestone for the country’s farmers. With access to the Indian market, Kenyan avocado growers are poised to expand their plantings, leading to higher earnings, increased employment opportunities, and downstream benefits. A Promising New Market The approval from the Indian government … Read more