Gender Parity Will Unlock $287bn for Africa's Economy By 2030-Report September 19, 2024--Tackling systemic barriers towards the participation of young women in Africa's workforce will drive an estimated $287 billion to its economy by 2030, boosting GDP by 5 per cent, according to a new report commissioned by the Mastercard Foundation. |
Africa: Climate-ECA Reveals Africa Loses Up to 5 Percent of GDP September 4, 2024--The United Nations Economic Commission for Africa (ECA), the World Meteorological Organization (WMO) and the African Union Commission, jointly announced the continent Africa needs urgent and increased investment in climate adaptation and resilience. |
Uganda joins African exchanges link August 27, 2024--The Uganda Securities Exchange (USE) has become the tenth African securities exchange to join the African Exchanges Linkage Project (AELP). The linkage platform enables stockbrokers on participating exchanges to send orders on behalf of their clients to stockbrokers on other exchanges, who will buy and sell shares on those exchanges.
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Economic reforms are tempting finance back to Ethiopia and Zambia August 15, 2024--Pockets of the African continent have found ways of giving new confidence to investors and the World Bank and IMF |
Africa: Carbon Trading-an Opportunity for Economic Development August 13, 2024-Africa's carbon market offers a powerful means to address climate change and uplift communities. The tangible benefits seen in the projects in across Africa highlight the potential of carbon credits, both environmentally and socio-economically. |
African Economic Expansion Need Not Threaten Global Carbon Targets-Study Points Out the Path to Green Growth August 12, 2024--Africa contributes only about 4% of the world's greenhouse gas emissions. The continent consumes the least energy for each person, compared with other regions of the world. |
Two-pot retirement system explained July 23, 2024--South Africans will soon be able to access a portion of their retirement savings when the two-pot retirement system is implemented later this year.
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Kenya Ranked Sixth Crypto-Friendly Country in Africa July 3, 2024-- Kenya has been ranked the sixth-most crypto-friendly country in Africa, with 5.1 percent of the population holding crypto.
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Reducing Malaria Could Boost Africa's Economy By $126.9 Billion-Report July 3, 2024-- The report noted that Nigeria's economy could gain $35 billion and international trade $80.7 billion by 2030.
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Extreme Weather in South Africa Is Disrupting Tourism-Research Tracks the Impact On Coastal Areas July 8, 2024-- South Africa has experienced some extreme weather events in recent months. These have included floods and an uncommon tornado in South Africa's KwaZulu-Natal province, floods in the Eastern Cape and mid-latitude cyclones in the Western Cape. Kaitano Dube, a human geographer who has researched tourism, extreme weather and resilience to climatic threat,, says these severe storms are set to disrupt tourism. |
Nigeria: Investors Gain N15.6trn in H1'24 Amid Monetary Policy Tightening July 2, 2024--Despite the lull in economy and other challenges, investors on the Nigerian Exchange Limited, NGX gained over N15.6 trillion in the first half of the year, H1'24, a situation attributed to the forex market reforms introduced by the Central Bank of Nigeria, CBN. |
Bond trading rivals for Nairobi Securities Exchange June 25, 2024--The Central Bank of Kenya's DhowCSD, a digital government bond trading platform, has reached a milestone of 80,000 investors, according to a report in Business Daily today (25 June). DhowCSD went live on 31 July 2023 and is designed to boost efficiency of investing in Treasury Bills and Treasury Bonds. |
AI and the Future of Work in Africa-White Paper June 23, 2024--Generative AI presents a powerful tool for shaping a dignified future of work in Africa. By proactively addressing the challenges and harnessing the opportunities, Africa can leverage AI to drive economic growth, empower its workforce, and become a leader in socially responsible AI development. |
Global Foreign Investment Declines for Second Year As Geopolitical Tensions Rise, UN Trade Body Reports June 20, 2024--Foreign direct investment (FDI) fell by two per cent to $1.3 trillion in 2023 amid global economic slowdown and rising geopolitical tensions, according to a report released on Thursday by the UN trade and development body, UNCTAD. |
Nigeria: Stock Investors Gain N619bn in May Despite Rates Hike June 3, 2024--Analysts expect bearish outlook in June
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Fast progress at Ethiopian Securities Exchange May 17, 2024--The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor is publishing today the Statistics on Securities and Markets (ESSM) Report, with the objective of increasing access to data of public interest. |
Nigeria: Domestic Investors Stake N1.335trn in Equities in Q1 April 25, 2024--Total transactions by domestic portfolio investors in the stock market rose by 86.23 per cent as they invested a total value of N1.335 trillion in the first quarter (Q1) of 2024. |
Nigeria: Foreign Investment in Stock Market Rises 168 Percent to N118.92bn April 23, 2024--Foreign portfolio investment, FPI, into the stock market rose by 167.8 percent, Year-on-Year (YoY), to N118.92 billion in February 2024 from N44.52 billion in the corresponding period in 2023 buoyed by improved liquidity in the foreign exchange (FX) market following reforms by the Central Bank of Nigeria, CBN. |
Nigeria: Equities Market Posts Biggest Loss in April As Investors Lose N1.1trn March 17, 2024--The Nigerian Exchange (NGX) market capitalisation recorded the biggest loss in the month of April with investors losing N1.1trn.
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African Economies Projected to Grow by 3.4 % in 2024, But Faster and More Equitable Growth Needed to Reduce Poverty
April 8, 2024--Increased private consumption and declining inflation are supporting an economic rebound in Sub-Saharan Africa. However, the recovery remains fragile due to uncertain global economic conditions, growing debt service obligations, frequent natural disasters, and escalating conflict and violence, according to the World Bank's latest Africa's Pulse report. |
Nigeria banks: Likely winners and losers from the central bank's new capital rules April 8, 2024-- Excluding retained earnings from the new capital threshold puts Nigerian bank shareholders at the sharp end. |
Nigeria: Interest rate hikes and naira weakness threaten manufacturing April 2, 2024--While distressed companies are cutting costs, they will still face difficulties accessing finance in the current environment. |
African Countries to Dominate the World's Top 10 Growing Economies, ECA Report April 1, 2024--AFRICAN countries are predicted to dominate the world's top 10 highest growing economies in 2024, according to a report on Recent Economic and Social Developments in Africa by the Economic Commission for Africa (ECA).
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Africa: 76% of Africa's Energy Could Come From Renewable Sources By 2040-Here's How March 18, 2024--Over half of Africa's people -about 600 million- lack access to even the bare minimum of electricity. The tough question to answer is how access can be extended without adding to global warming by relying on fossil fuels. |
Nigeria detains global executives in war on crypto March 14, 2024--Nigeria has declared war on leading global cryptocurrency exchanges. On 26 February it detained two top international executives of Binance after they flew in for discussions with Nigerian authorities and is still holding them against their will. Binance has since switched off access to trading naira against cryptocurrencies on its platform. |
Paying Africa's Climate Bill March 7, 2024-A global approach to climate change requires private sector financial firepower
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Africa's Share of Global Trade Remains Under 3 Percent Despite AfCFTA-Report March 4, 2024--A report by the Economic Commission for Africa (ECA) Africa's has stated that contribution to global trade remains at less than 3%. |
Africa: Paving the Way for Digitizing Africa's Economy
February 23, 2024--Africa is the continent with more than 1.2 billion people, endowed with rich natural resources among others, vast arable land, livestock, mines, rivers, oceans and lakes with their marine life. However, though it is rich with such resources, the continent is unable to exploit the resources fully due to lack of technology, finance and well trained man power. |
African Development Bank-High Cost of Living in Africa Could Cause Unrest February 20, 2024--The African Development Bank is warning that the rising cost of energy, food and other commodities in several African countries, including Angola, Ethiopia and Kenya, could trigger social unrest. Already, people in Africa's most populous country, Nigeria, have been marching to protest the high cost of living, prompting the government to release grain from the national reserves. |
Digital Transformation Drives Development in Africa January 18, 2024--CHALLENGE |
Africa: A Quick Look At Africa 2024 Through GDP's January 4, 2024--With the arrival of 2024, various financial institutions have disclosed their projections for the African continent in the new fiscal year. In line with the predictions of experts, there is a growth expectation of 4.2% in the general perspective for the African continent (IMF). Private consumption and investment are predicted to drive an acceleration in gross domestic product (GDP) for roughly 80 per cent of countries by 2024. |
Africa: Brics Expands With Five New Members January 2, 2023--The Brics group of countries has expanded to include Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates.
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Turning the Corner, time to move from reforms to results
December 13, 2023---The Government of Nigeria avoided a fiscal cliff by implementing bold reforms, including ending the gasoline (premium motor spirit, PMS) subsidy, and shifting to a unified, market-reflective foreign exchange (FX) rate. These essential reforms entail painful adjustments. |
African Development Bank Revises Economic Forecast for Africa downwards amid continued global shocks November 29, 2023--The African Development Bank has revised its short to medium-term macroeconomic forecast for Africa, for 2023 and 2024 downwards to 3.4% and 3.8%, from 4.0% and 4.3%.
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South Africa Economic Update: Raising South Africa's Economic Prospects by Curbing Crime
November 22, 2023--The fourteenth edition of the South Africa Economic Update, Safety First: The Economic Cost of Crime in South Africa, discusses South Africa's economic prospects and highlights the critical need to address the challenge of high crime, to reduce its adverse effects on the economy and society at large. |
Africa: Travel, Tourism in Africa Could Boost Continent's Economy By $168 Billion- Report November 6, 2023--The African sector is expected to grow 6.5 per cent per year over the next decade; travel & tourism could contribute $350 billion to the regional economy.
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