Kenya raises key interest rate to tame inflation
31/05/2022On Monday, the Central Bank of Kenya raised its policy lending rate by half a percentage point to stem rising inflation and stabilise the shilling. The increase in the central.
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We’re developing investment banks for youth-owned businesses — AfDB
30/05/2022African Development Bank (AfDB) says it is designing financial institutions that will invest in businesses owned by youths. Akinwumi Adesina, President, AfDB, said this on Friday at the end of.
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Private sector calls for tax uniformity across EAC
26/05/2022The private sector in the East African Community has proposed the harmonisation of several taxes including value-added tax, income tax and excise duty in the 2022/2023 budget, arguing this will.
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S.Africa’s central bank flags inflation as major risk to domestic financial system
26/05/2022On Wednesday, South Africa’s central bank said the risk of a spillover of the Russia-Ukraine war could hurt the country’s financial stability through rising food and fuel inflation, lower economic.
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Africa risks stagflation due to pandemic, Ukraine war – AfDB
26/05/2022Africa risks sliding into stagflation – a cycle of slow growth and high inflation – as it battles the lingering effects of the pandemic and rising fuel and food prices.
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C.A.R to Launch Bitcoin Investment Platform Called ‘Sango’
25/05/2022The Central African Republic’s presidency announced the establishment of the continent’s first legal Bitcoin Investment Platform called ‘Sango’, extending the impoverished country’s embrace of digital finance despite warnings from the.
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Egypt’s Suez Canal Revenue Expected to Hit $7 Billion by Year-end
24/05/2022Egypt’s Suez Canal is expecting revenues worth around $7 billion by the end of the current financial year. According to Egypt’s finance minister, Mohamed Maait, tourism revenues are predicted to.
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African Development Bank approves $1.5 billion emergency food facility
23/05/2022The African Development Bank, AfDB, has approved a $1.5 billion emergency food production facility for about 20 million farmers in Africa. The fund is expected to help avoid a looming.
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China’s Sinosteel signs $680 million iron ore mine deal with Cameroon
23/05/2022Cameroon’s government has signed a 420 billion CFA franc ($675.96 million) high-grade iron ore mining deal with a subsidiary of Sinosteel Corporation Limited as China seeks new sources of the.
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US announces $215m food assistance to African countries
20/05/2022United States Secretary of State, Antony Blinken, has said that the US government would provide an additional $215 million in emergency food assistance in Nigeria, Algeria, Cameroon, Uganda, Zimbabwe, Mauritania,.
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