Updates on trends of various African markets, including stock markets, real estate, commodities, and more.
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
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
Ugandan agritech company Emata is making waves in the world of farming with its innovative approach to financing. The startup has successfully raised $2.4 million in seed funding, consisting of $800,000 in equity and $1.6 million in on-lending capital. Investors Backing the Agricultural Revolution This fundraising round saw support from various influential investors, including: Emata’s … 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 a concerning revelation, the Speaker of the House of Representatives in Nigeria, Tajudeen Abbas, has unveiled the extensive economic toll of crude oil theft on the nation. A staggering $46 billion has been lost to this illicit activity between 2009 and 2020, as disclosed during the inauguration of an ad-hoc committee to investigate crude … Read more
In a strategic move to tap into the growing demand for lithium, Ghana’s Sovereign Wealth Fund, known as the Minerals Income Investment Fund (MIIF), has announced a substantial investment of nearly $33 million in a local lithium mining project. The investment not only includes a minority stake in the project developer, Atlantic Lithium, but also … Read more
In a strategic move aimed at fortifying their presence across the African continent, two financial giants, Sanlam Limited and Allianz SE, have officially unveiled their joint venture, Sanlam Allianz Africa. Following the receipt of regulatory approvals from regional authorities on September 5, 2023, this partnership is set to reshape the landscape of non-banking financial services … Read more
Glovo, a versatile multi-category app, has taken a significant stride in enhancing the online shopping experience for customers in Nigeria. Through a strategic partnership with Shoprite, Nigeria’s largest supermarket retailer, Glovo now offers Nigerian customers the convenience of ordering a wide range of daily essentials, from freshly prepared meals to fresh fruits and vegetables, all … Read more
Vodafone Ghana, a prominent player in the telecommunications industry, has embarked on a significant enhancement to its network infrastructure. The telecom giant is rolling out 4G+ technology, promising an improved online experience for its users. In addition to this technological leap, Vodafone Ghana is introducing a convenient device financing scheme, making advanced connectivity more accessible … Read more