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 ...

Ghana's Security Services(Police, Prisons, and Immigration) Announce 2021 Recruitment Drive

Ghana’s Security Services(Police, Prisons, and Immigration) Announce 2021 Recruitment Drive

In a surprise move, Ghana’s top security agencies have announced a major hiring spree, giving ...

Nigeria’s Inflation Soars to New Highs, Impacting Consumer Purchasing Power

Nigeria’s inflation rate hits record highs, weakening consumer purchasing power and prompting concerns about economic ...

Nigerian Startup Flutterwave Expands into Europe with $170 Million Series C Funding

Nigerian fintech startup Flutterwave has raised $170 million in a Series C funding round, enabling ...

Nigeria’s MAX.ng Secures $31 Million for Electric Vehicle Expansion

Nigeria’s MAX.ng secures $31 million funding to drive electric vehicle expansion across West Africa, promoting ...
Airtel Africa sticks to $825m fresh capital plan despite loss

Airtel Africa sticks to $825m fresh capital plan despite loss

Airtel Africa is set to inject up to $825 million in fresh capital to support ...

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 ...

NSE beats African peers in half year returns

NSE beats African peers in half year returns

The Nairobi Securities Exchange (NSE) recorded the highest returns among African stock markets in dollar ...

The magnet shaping China’s quest for Africa

The magnet shaping China’s quest for Africa

Over the past two decades, China-Africa relations have strengthened significantly, largely driven by economic cooperation, ...

Venture Capital Surge Fuels West Africa’s Tech Startups in Q4 2021

West Africa experienced a surge in venture capital investment in Q4 2021, with startups in ...

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August 22nd is the day in 1961 that Ida Siekmann died attempting to cross the Berlin Wall.

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