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Economy & Finance

Post-Pandemic

Post-Pandemic Recovery: Africa’s Economic Bounce

The COVID-19 pandemic dealt a heavy blow to economies worldwide, and Africa was no exception. ...

  • 20 October 2022
  • column

ECOWAS Signs Agreement to Improve Intra-African Trade Infrastructure

ECOWAS has signed a landmark agreement aimed at enhancing intra-African trade infrastructure to boost economic ...
  • 20 October 2022
  • Business
South African president cleared of money-laundering allegations

The Growth of E-commerce in South Africa’s Business Landscape

In recent years, South Africa has experienced a remarkable shift towards e-commerce, driven largely by ...

  • 15 October 2022
  • Economy & Finance

West African Nonprofits Collaborate on Project to Tackle Youth Unemployment

West African nonprofits unite on an initiative to address youth unemployment across the region, creating ...
  • 12 August 2022
  • Business
ZIG

After ditching the dollar, Zimbabwe now rushing for it at a steeper cost

Zimbabwe introduced the Zimbabwe Gold (ZiG) currency in April 2024 to stabilize its economy, but ...

  • 7 May 2022
  • Economy & Finance
Salaam Somali Bank solidify its growth in Somalia banking sector

Salaam Somali Bank solidify its growth in Somalia banking sector

Salaam Somali Bank (SSB), based in Mogadishu, Somalia’s capital, is recognized as the country’s oldest ...

  • 2 April 2022
  • Africa

Ivory Coast Expands Cocoa Production, Aims to Strengthen Global Market Position

Ivory Coast boosts cocoa production to enhance its global market position, aiming to remain a ...
  • 25 March 2022
  • Business
Kenya and Tanzania among 10 states receiving half of aid money to Africa The report notes that between 2013 and 2022, Africa received more ODA than any other region of the world in all years except 2018. However, the total aid to the continent decreased from $86.4 billion in 2020 to $81.4 billion in 2022. In addition to Kenya, Tanzania, Uganda, and the DRC, other major recipients of aid include Egypt, Ethiopia, Nigeria, Mozambique, Morocco, and Niger. In total, these ten countries received $37.8 billion in 2022, accounting for 46.4% of all ODA to Africa. In terms of individual amounts, the DRC received $3.4 billion in aid, Kenya $3.3 billion, Tanzania $3 billion, and Uganda $2.4 billion. These figures are comparable to the amounts these countries aim to collect through additional taxes, as they implement fiscal consolidation measures to reduce high debt levels. Interestingly, many of these countries, despite receiving large amounts of aid, are among Africa's wealthiest nations, collectively making up about 45% of the continent's Gross Domestic Product (GDP), according to the World Bank. However, ODA often comes with stringent conditions. Aid from organizations like the International Monetary Fund (IMF) and the World Bank—the largest providers of ODA to Africa—typically requires governments to implement economic reforms

Kenya and Tanzania among 10 states receiving half of aid money to Africa

Kenya and Tanzania are among the top recipients of aid from wealthy nations and international ...

  • 3 February 2022
  • Africa
TANZANIA

The Effects of Currency Fluctuations on Tanzanian Export Businesses

Tanzania is endowed with abundant renewable energy resources, including solar, wind, hydro, and biomass. As ...

  • 5 January 2022
  • Economy & Finance
birr

Ethiopia adopts market-based foreign exchange system, devalues birr

The National Bank of Ethiopia (NBE) has announced significant reforms to let market forces determine ...

  • 7 December 2021
  • Economy & Finance
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Today in History

April 21st is the day in 1962 that the Seattle World's Fair (Century 21 Exposition) opens.

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