Economy

Kaspersky security researchers accuse Russian cyber criminals of attacking banks in Sub-Saharan Africa

Kaspersky security researchers, who claim to have reported on thousands of notifications of attacks on major banks located in the sub-Saharan Africa (SSA) region, are now accusing some unknown Russian hackers for using a malware to...

Togo’s President Faure Gnassingbe celebrates record number of greenfield investment projects in 2019

The President of Togo is in a celebratory mood. Mr. Faure E. Gnassingbe fired a tweet on Friday to celebrate a record number of greenfield projects in his country last year."This gratifying...

IMF praises Senegal’s economic growth under Macky Sall, approves fresh three-year policy coordination instrument

The executive board of the International Monetary Fund (IMF) on Friday approved a fresh three-year policy coordination instrument for Senegal.IMF said the new policy coordination instrument or PCI will "build on...

Andorra, one of the smallest countries in the world with 85,000 people, has applied for IMF membership

Andorra, one of the smallest countries in the world with only 85,000 inhabitants, only one third of which are residents, has applied for membership at the International Monetary Fund, Managing Director Ms. Kristalina Georgieva informed the IMF...

IMF approves payment of $19.5 million to Niger, part of $163.6 million loan secured in 2017 and 2018 under extended credit facility

The International Monetary Fund (IMF) on Wednesday approved the disbursement of $19.5 million to Niger, part of $163.6 million loan secured in 2017 and augmented in 2018 under extended credit facility.An...

IMF approves disbursement of $27.63 million to Mali, part of $193.5 million loan secured in 2019 under extended credit facility

The International Monetary Fund (IMF) on Wednesday approved the disbursement of $27.63 million to Mali, part of $193.5 million three-year loan secured in 2019, under extended credit facility.An extended credit facility (ECF)...

President Ramaphosa heartbroken over passing of South Africa’s doyen of black business Richard Maponya

President Cyril Ramaphosa has expressed his condolences to the family of esteemed business leader Dr Richard Maponya following his passing in the early hours of Monday, 6 January 2020. Dr Maponya, widely respected...

Africa’s richest woman Isabel dos Santos’ assets frozen by Angola

Angola has frozen assets belonging to Isabel dos Santos known as Africa’s richest woman, after accusing her and two others of causing the state losses of more than $1 billion.Isabel dos Santos...

Number of Nigerians already stuck in poverty to increase by more than 30 million by 2030, World Bank warns, suggests bold reforms

In the long run, things are expected to improve, but between now and 2030, the living standards of Nigerians will continue to deteriorate, and the number of people living in poverty will continue to rise,...

Nigeria ‘studying’ new West African currency called “eco”, ministry of finance says in statement

Nigeria's ministry of finance said in a statement on Monday it had "received the news of the change of name of the UEMOA Currency, the CFA (Communaute Financiere d'Afrique" to Eco supposedly as the ECOWAS single...

Latest News

Principality of Andorra becomes IMF’s 190th Member

The Principality of Andorra joined the International Monetary Fund (IMF) on Friday, becoming the Fund's 190th...

South Africa launches $6 billion COVID-19 employment stimulus

South Africa has launched a $6 billion (R100 billion) COVID-19 employment stimulus to be implemented over the next three years.

Principality of Andorra becomes IMF’s 190th Member

The Principality of Andorra joined the International Monetary Fund (IMF) on Friday, becoming the Fund's 190th member.Ambassador...

Eradicating extreme poverty by 2030 now highly unlikely amid COVID-19 – Report

Prospects for fully eradicating extreme poverty by 2030 now appear highly unlikely, even under the most optimistic scenarios, according to a...

IMF’s Georgieva says second round of support coming to Africa but Oxfam argues debt cancelation the only way out of COVID-19 turmoil

The Managing Director of the International Monetary Fund (IMF) Ms. Kristalina Georgieva said on Wednesday that the Washington DC-based institution is...

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