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...
In the wake of the COVID-19 pandemic, Madagascar President, Rajoelina took the world by storm after endorsing a herbal product formulated and manufactured locally by the Malagasy Institute of Applied Research (MIAR).
“All trials and tests have been conducted and its effectiveness has been provided in reducing and elimination of...
This Africa Month, DStv and GOtv have announced the launch of The Africa We See campaign, a heart-warming celebration of the excellence and power of Africa, its people and the rich stories that come from the continent.
Now more than ever, Africans are shaping and owning their own narrative through...
Once again, African countries are confronting overwhelming debt burdens. According to the most recent World Bank debt statistics, they owe a total of $493.6 billion in long term debt to their foreign official and commercial creditors. About one third, $117 billion, is in the form of tradeable bonds. In...
Markets in Africa’s cities are central to the food chain. But many had to close because of COVID-19 measures.
In countries across Africa, the public health restrictions imposed to deal with the COVID-19 pandemic have thrown many people out of work. Cities face the risk of widespread hunger, with the...
The onset of a coronavirus-induced global recession has affected both labour markets and financial flows across the world. At the confluence of these two are remittances, which have increasingly been among the top contributors to GDP in many emerging markets over recent decades.
The issue is particularly pertinent for those...