Morocco’s Economy to Shrink by 5.8% in 2020
Morocco's High Commission for Planning (HCP) projects the country's economic growth to shrink by 5.8% in 2020, down from an increase of 2.5% in 2019, occasioned by negative impacts of the [...]
EAC Adopts New Measures to Shield Local Industries
Countries in the East African Community have adopted new Common External Tariff (CET) import duty measures that seek to protect local industries from cheap imports. The new import taxes took [...]AfDB Policy Reforms for African Economies
The African Development Bank (AfDB) intheirAfrican Economic Outlook 2020 Supplementsays that the novel coronavirus will impact African economies' growth in 2020. However, the extent is still unknown at the moment. [...]
AfDB Projects Zimbabwe's Economy to Shrink by 8% in 2020
The African Development Bank (AfDB) has projected Zimbabwe's economy will shrink by between 7.5% if the pandemic subsides by July (baseline), and 8.5% if it continues through to December (worst [...]Rwanda to Get $11.4 Million EU Grant
Rwanda is set to receive an $11.4 million grant from the European Union (EU) for the country's private sector development and creation of jobs. The grant is part of the [...]Hope For Nigeria as 5 Airlines Resume Domestic Flights
Nigeria today resumed its domestic flights after three months of no flights, as the country eases restrictions amid the Coronavirus. Airports in Abuja and Lagos were first to open, with [...]Mauritius Ascends to High Income Country
Mauritius has beaten the odds to become the first African country to be ranked as a High-Income nation by the World Bank. According to the World Bank data, Mauritius' Gross [...]AfDB Invests $116 Million in Nedbank's SDG Linked Bonds
The African Development Bank (AfDB) has invested $116 Million in South Africa’s Nedbank SDG Linked bonds. Thebonds are under the green bonds segment at the Johannesburg Stock Exchange (JSE). [...]Rwanda to Reopen Airports on 1st August 2020
Rwanda's Ministry of Infrastructure has announced plans to reopen airports and resume scheduled commercial flights, with effect from 1st August 2020. All passengers, including those in transit, will be required [...]AfDB Appoints Wambui Gichuri as Acting Vice President
The African Development Bank (AfDB) has appointed Wambui Gichuri as its acting vice president in charge of Agriculture, Human and Social Development. Her appointment took effect on 5th July 2020. [...]EAC Trade Down by 40% Due to Movement Restrictions
EAC Trade volumes have dropped by 40% due to the restrictions on the movement of people and goods. The volumes of EAC trade dropped significantly after February when the onset [...]OPay Pauses Services Citing Tough Business Environment
Nigeria's OPay has paused some of its services due to a tough business environment. Ride-Hailing, one of the super app's vertical has taken a hit, following the pandemic and the [...]
