Rising Inflation Pushes Rwanda to Hike Interest Rate to 6%
Rwanda’s central bank unleashed its biggest interest-rate hike in more than 13 years as runaway inflation caused it to revise its forecasts upwards. The monetary policy committee increased the key policy rate [...]
Ethiopia Begins Power Generation from Second GERD Turbine
Ethiopian Prime Minister Abiy Ahmed kick-started electricity production from the second turbine at its controversial mega-dam on the Blue Nile on Thursday, despite continuing objections by Egypt and Sudan over [...]Fitch Ratings Cuts Ghana's Debt Rating to Junk
Fitch Ratings cut Ghana’s longterm sovereign credit rating further into junk days after a similar decision by SP Global Ratings. Fitch downgraded Ghana by two notches to CCC, or eight levels below [...]
Zambia Cancels Undisbursed Loans Worth $1.6 Billion from China
Zambia’s has cancelled yet-to-be disbursed loans from the China Exim Bank and Industrial Commercial Bank of China worth $1.6 billion, seeking to help manage its debt overhang. The cancellation of [...]Burundi Set to Allow Cement and Sugar Imports in a Bid to Tame the Black Market
Burundi is set to open a window for importing sugar and cement to meet a shortfall that has created a black market where prices have shot up. This was revealed [...]Rwanda Hikes Fuel Prices Despite Government Subsidy
Rwanda has increased its fuel prices, reflecting the little impact the bi-monthly government subsidy has had. The latest prices, effective Monday, will see a litre of petrol retail at Rwf1,609 [...]Ghana's Inflation Rate Surges to 31.7% in July on the Depreciating Cedi
Inflation in Ghana accelerated at a faster pace than expected in July as a slump in the value of the cedi raised the cost of imported goods like cooking oil [...]Bank of Kigali Records Ksh 926 Million New Diaspora Customer Deposits
Bank of Kigali has booked Sh926million new customer deposits from Rwandans in diaspora within four months. The cash deposits were collected from existing and new customers following a successful marketing [...]Longhorn Publishers Expands into DRC
Longhorn Publishers has expanded to the Democratic Republic of Congo (DRC), seeking to tap the country's vast market of 20 million learners, as well as boost shareholder returns. The entry [...]Tanzania Introduces Fertilizer Subsidy to Relieve Farmers' Pain
Tanzanian farmers will enjoy massive subsidy over fertilizer during the 2022/23 season, after President Samia Suluhu Hassan launched a fertilizer subsidy programme yesterday. Agriculture minister Hussein Bashe says with the [...]Egypt's Inflation Increases to 13.6% in July
Inflation in urban parts of Egypt quickened to 13.6% year-on-year in July versus 13.2% in June as rising food prices and a local hike in fuel costs added more pressure [...]TymeBank Announces Plans to Acquire Retail Capital
South Africa-headquartered TymeBank has announced plans to acquire Retail Capital, an SME-focused organisation providing alternatives to traditional business loans in the form of funding and asset finance. Launched in 2011, [...]
