Nigeria’s currency is expected to come under pressure on the black market this week, with Uganda’s seen firming and Kenya and Zambia’s holding stable.
NIGERIA
Nigeria’s naira is seen weakening on the black market as dollar shortages at official sources cause investors and importers to channel demand to the parallel...
A new weather forecasting system in Africa allows meteorologists to track approaching storms in real time, potentially saving lives from climate-related disasters, scientists said on Monday.
The technology is already used in developed countries but was not available until recently in most of sub-Saharan Africa, according to scientists behind the...
US president Donald Trump continued his funding threats to the World Health Organization, WHO; with a May 18 letter that threatened outright withdrawal of the US from the organization.
The four-paged letter addressed to the WHO Director-General, Tedros Adhanom Ghebreyesus said that the body had 30-days to undertake needed reforms. “I will make my temporary freeze of United States funding...
As the COVID-19 pandemic takes a toll on African health systems and their economies, African governments are staking a claim for debt relief or outright cancellation of debts owed to China and the west.
Ghana’s Finance Minister, Ken Ofori-Atta, and the South African Finance Minister, Tito Mboweni, have been leading...
As the novel COVID-19 pandemic continues to ravage economies, its full toll on agriculture is yet to be reckoned more fully. The restrictions on movement and the limited social interactions will strain livelihoods and the agricultural supply chain as access to inputs and extension support services by the already vulnerable...
The Nigerian naira is seen weakening in the days ahead on the back of accumulated demand, while the Kenyan shilling could steady as importer appetite in the energy sector sags.
Nigeria
Nigeria’s naira is seen weakening on the black market as dollar demand balloons from foreign investors and importers with payment...
Many are calling for a temporary moratorium on all debt repayments by developing and emerging economies, in order to prevent the COVID-19 pandemic from triggering a tsunami of sovereign defaults. Rather than waiting passively until debtors stop meeting their obligations, the argument goes, creditors would be better off agreeing...
The International Monetary Fund on Wednesday said its executive board has approved $739 million in emergency financing to help Kenya respond to the economic shock caused by the novel coronavirus pandemic.
The IMF said it was in close contact with Kenyan authorities and stood ready to provide policy advice and...
Kenyan and Ugandan currencies are likely to firm this week as Nigeria’s comes under pressure and Zambia and Tanzania’s hold steady.
KENYA
The Kenyan shilling is expected to strengthen due to inflows from the diaspora and an emergency International Monetary Fund (IMF) loan to support the economy against the impact...
The novel coronavirus could kill between 83,000 and 190,000 people in Africa in the first year and infect between 29 million and 44 million in the first year if it is not contained, the World Health Organization (WHO) said last week Thursday.
The projections are contained in a new WHO...