Monday, May 23, 2022
Country Manager at AZA Finance, a cross-border payment provider, Nana Yaw Owusu-Banahene, has described central bank digital currencies (CBDC) as the next major layer in the evolution of the pan-African cross-border payment framework.In his estimation, the enhanced interoperability offered by CBDCs makes them the ideal vehicle to surmount existing...
The Economist Intelligence Unit ((EIU) has urged government to go for an International Monetary Fund (IMF) programme, saying it will benefit the economy, especially in a bid to reignite investor interest. Many investors, particularly those interested in the debt market, shun the country’s bonds, with some of the existing ones...
WTO warns on food supply risks for Africa The global hike in food prices caused by Russia’s war in Ukraine could lead to mass hunger in developing countries, especially in Africa, according to the World Trade Organization. With 35 African countries importing food from Russia, Ukraine or both, and another...
PREAMBLEIn any economic structure, debt is used at three main levels: the government level as captured in a nation’s fiscal policy for economic development, the corporate level for organisations’ capital injection, and the individual level for personal financial support.PUBLIC SECTOR DEBTState revenues are most often insufficient to finance...
The success of any country is dependent on the collective behaviour of the nation. Generally, the people's work commitment, attitude, and hard work help determine their financial profile. However, it’s difficult to determine what should be the direction of efforts.Here we present a secret recipe for leading Africa to...
Wide-scale adoption by commercial banks and other payment and settlement players remains the most important determinant of the success of the Pan-African Payment and Settlement System (PAPSS).This is according to Managing Partner at corporate and commercial law firm Koranteng & Koranteng, Afua Adubea Koranteng, who says that increased collaboration...
It will take bold reforms, backed by strong political will, to transform the economy’s dwindling fortunes, Dr. Sam Ankrah, President of Africa Investment Group, has saidHe said the economy’s outlook is bleak, but added that strong political will to implement bold actions such as sanitising government payroll, significant expenditure...
Professor of Comparative African History at the University of Edinburgh, Prof. Paul Nugent, says the prolonged closure of borders within the sub-region has contributed to current level of hardships in most regional economies.“Definitely it has; and it’s had dire impact on people living in border regions or towns. The...
As the Sub-Saharan African economy struggles to recover from the 2020 recession induced by the COVID-19 (coronavirus) pandemic, the region now faces new economic growth challenges, compounded by the Russian invasion of Ukraine.The World Bank’s latest Africa’s Pulse, a biannual analysis of the near-term regional macroeconomic outlook, estimates growth...
…due to favourable interest ratesActivities across the local debt market are at an all-time high as investors shift attention from equities on the back of rising inflation and interest rates, the latest fixed income report has shown.Currently, across the medium to long term, securities on the market...
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