Here, we delve into macroeconomic trends, monetary policies, and fiscal developments impacting the African economy.
Nigeria’s money supply, measured by M2, witnessed a substantial rise to N64.9 trillion in July 2023, up from N64.3 trillion in June. This surge represents a notable increase from the N55.5 trillion recorded in May, amounting to a substantial N9.4 trillion growth. These figures, recently released by the Central Bank of Nigeria as part of … Read more
Mozambique is gearing up to implement regulations governing carbon-credit projects in the country, joining other African nations like Zimbabwe, Malawi, and Kenya in this endeavor. The government aims to finalize draft rules by the end of this year, with presentation to the Council of Ministers for approval expected in Q1 2024. This move seeks to … Read more
The Standard Bank Group has announced robust financial results for the first half of 2023 (1H23), marked by a 35% increase in headline earnings to R21.2 billion. The company’s return on equity (ROE) also improved to 18.9%. These positive outcomes are attributed to the group’s differentiated franchise and its strategic focus on Africa. Key Highlights … Read more
The Nigeria Deposit Insurance Corporation (NDIC) has announced its intention to conduct investigations into the directors of 183 banks whose licenses were recently revoked. The Managing Director of NDIC, Mr. Bello Hassan, shared this information during a capacity-building workshop for law enforcement agencies in Lagos. NDIC plans to collaborate with the Economic and Financial Crimes … Read more
Introduction of the Gaming Tax The Ghana Revenue Authority (GRA) has rolled out a new gaming tax strategy with the ambitious goal of generating approximately GHยข400 million in revenue. This tax initiative centers around imposing a 10% levy on winnings derived from bets and lotteries, signifying a significant change in the taxation landscape for gaming … Read more
Selecting the right retirement plan is a crucial step toward ensuring a comfortable and worry-free future. With a plethora of options available, making the best choice can be overwhelming. In this comprehensive guide, we’ll walk you through the essential factors to consider when choosing a retirement plan. From investment opportunities to employer contributions and risk … Read more
In the current year, the Mozambique Stock Exchange (BVM) has witnessed a total of 12 bond issuances as of Monday, the 14th of August. These bonds have varying maturities, spanning up to ten years, and feature interest rates ranging from 17% to 19%. Issuance Highlights The amounts raised through these bond operations have exhibited a … Read more
Zeepay, a pioneering force in the realm of cross-border payments and mobile money innovation, has showcased impressive resilience and growth in the face of economic adversities. Despite navigating through a challenging economic landscape, Zeepay reported a pre-tax profit of GHยข43.9 million by the end of 2022, marking a notable achievement in its annual report. Financial … Read more
Insurance policies are vital financial tools that provide protection and peace of mind in times of uncertainty. Whether you’re safeguarding your health, securing your property, or planning for the future, understanding the fundamental concepts and types of insurance policies is crucial. In this article, we will delve into the key aspects of insurance policies, including … Read more
The introduction of the US cryptocurrency Worldcoin in Kenya has been halted following the company’s large-scale effort to enroll customers by utilizing iris scans as part of its global rollout. The Kenyan government’s action represents a setback in the worldwide launch of this product and draws attention to issues such as the collection of personal … Read more