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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
  • Tanzania
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
  • Ethiopia
Inflation

The Impact of Inflation on Nigerian Businesses

Nigeria, Africa’s most populous nation and largest economy, has been grappling with rising inflation, which ...

  • 15 October 2021
  • Economy & Finance

Sierra Leone Introduces First Comprehensive Corporate Governance Code

Sierra Leone has launched its first-ever Corporate Governance Code to enhance transparency and accountability in ...
  • 15 September 2021
  • Business
Tunisia wants to borrow billions from its Central Bank

Tunisia wants to borrow billions from its Central Bank

Tunisia is considering borrowing billions from its central bank to address significant budget deficits and ...

  • 14 July 2021
  • Tunisia
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Today in History

January 19th is the day in 1764 that John Wilkes is expelled from the British House of Commons for seditious libel.

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