The government of Ghana has stopped payments on part of its foreign debt amid economic crisis as the country undertakes debt restructuring in line with a bailout deal with the International Monetary…
Category: Economy
Are ports race in Africa development or plunder?
Ports have long been integral to Africa’s connectivity with the rest of the world. Yet over the last 15 years, a new stage in maritime infrastructure planning and development has begun. Between…
Why Uganda’s economy is booming
Uganda’s economy is booming thanks to a variety of factors, including a growing population, a young workforce, good governance, and recent discoveries of natural resources. These factors are expected to continue to…
Economic Crisis: Alleviating the impact on Ghanaians
The Commonwealth Human Rights Initiative (CHRI) Africa Office is calling on the Ghanaian government to take urgent action to protect its citizens from the negative impact of the worsening economic crisis. CHRI…
German pushing for Hydrogen Economy in Namibia, South Africa
Germany is pushing for a hydrogen economy in Namibia and South Africa as a way to reduce emissions and dependence on fossil fuels. The German government is providing financial and technical assistance…
How Kenya’s economy is performing under president Ruto
Just a week after the Supreme Court confirmed his win, William Ruto was inaugurated as Kenya’s fifth president in September 2022. Kenya’s economy has been on the upswing. GDP growth has accelerated…
Uganda’s economy in state of crisis
Uganda’s economy is currently in a state of crisis, with inflation rates soaring and the value of the Ugandan shilling rapidly diminishing. This has caused widespread economic hardship for the people of…
The Impact of foreign entrepreneurs on South African economy
South Africa has long been a destination for immigrants, especially from other African countries. Foreign entrepreneurs play a significant role in shaping the South African economy. The presence of these immigrants has…
Nigeria: Buhari unveils new Naira banknotes
Nigerian President Muhammadu Buhari on Wednesday unveiled the redesigned new Naira banknotes as proposed by the Central Bank of Nigeria (CBN) and the new notes are part of the CBN’s efforts to…
IMF approves $112.7 million emergency funding for South Sudan
The International Monetary Fund (IMF) and South Sudan have reached a staff-level agreement for the release of about $112.7 million in emergency financing. This will help South Sudan meet its immediate balance…
Ghana’s finance minister apologizes for economic hardship
Ghana’s finance minister, Kenneth Ofori-Atta, issued an apology on Friday for the country’s economic hardship, but he defended himself against accusations that he is unfit for the job. “I am truly sorry…
Egypt’s unemployment rate rises to 7.4% in third quarter of 2022
The unemployment rate in Egypt increased to 7.4 per cent during the third quarter of 2022, up from 7.2 per cent in the second quarter of the year, the state-statistics agency reported….