Reuters News Nigeria’s consumer inflation rose slightly to 27.33% in annual terms in October from 26.72% in September, its bureau of statistics said on Wednesday. Inflation in Africa’s biggest economy has been in double digits since 2016, eroding incomes and savings, and prompting the central bank to repeatedly hike interest rates. President Bola Tinubu has…
The Zimbabwean With a reported 1,789 Zimbabwean higher education students in the United States for the 2022/23 academic year, Zimbabwe is the second leading country in sub-Saharan Africa, per capita, and the sixth in the overall number of students in the United States. The number of Zimbabwean undergraduate students increased by 24.4%, representing one of…
Nigerian Tribune Again, Nigeria ramped up its crude oil production in October to 1.35 million barrels per day in its determination to meet the Organisation of Petroleum Exporting Countries (OPEC) quota. Although Nigeria has in the past few months seen some production increase, it remained well below its required OPEC’s production level. As contained in…
Reuters News South Africa’s unemployment rate fell to 31.9% in the third quarter of this year from 32.6% in the second quarter, statistics agency data showed on Tuesday. Statistics South Africa said the number of unemployed people was 7.849 million in the third quarter from 7.921 million in the second quarter. Under an expanded definition…
Reuters The Saudi Fund for Development will sign agreements worth 2 billion riyals ($533 million) with African countries, Saudi Finance Minister Mohammed Al-Jadaan said on Thursday during the Saudi-Arab-African Economic Conference in Riyadh. “We are working with partners to support Ghana and other countries regarding their debt,” Jadaan added. Saudi Investment Minister Khalid Al-Falih later…
Reuters News Malawi will restrict foreign currency transactions and crack down on black market dealers after devaluing its currency last week, the finance minister said on Monday. The southern African country devalued the kwacha currency by 30% against the dollar from last Thursday, saying it was needed to correct supply-demand imbalances in the currency market….
Reuters News The South African rand was slightly stronger in early trade on Monday, at the start of a week containing several important local and global economic data releases that could move markets. At 0743 GMT, the rand traded at 18.7025 against the dollar , up 0.2% on its previous close. The dollar was little…
The East African Property investors in Africa, mostly private equity firms and high networth investors, are diversifying their portfolio into dollar-denominated return projects and green buildings to cushion against potential losses from the plummeting currencies in the continent. Rising political and environmental risks in the continent, rising interest rates in the US and the rising…
ZAWYA Africa has seen an expansion of instant payments systems over the past year with new launches in South Africa, Ethiopia, Morocco over the last twelve months, a new report said. The addition of the three countries brings the total number of live domestic and regional instant payment systems on the continent to 32, the…
Saudi Gazette RIYADH — Minister of Industry and Mineral Resources Bandar Al Khorayef discussed ways of enhancing cooperation in the industry and mining sectors between Saudi Arabia and the African countries participating in the Saudi-African Summit. This has been carried out by Al Khorayef while holding bilateral meetings with a number of ministers of African…
