Sudan’s Mo Ibrahim on COP28
“First and foremost, I am pleased to see that COP28 has addressed some of the key priorities we have long called for. We are finally seeing the world recognise that international climate commitments cannot come at the expense of Africa’s development. If the international community stays true to its word, then the agreements made in […]
Markets Now Expect Ethiopia to Join Zambia and Ghana as Africa’s Latest Debt Defaulters
Ethiopia failed to pay a $33m bond coupon on Monday and looks set to become the latest African country to default on its debt unless a restructuring agreement can be found with international bondholders within the 14-day grace period. Only two weeks ago, the governor of the National Bank of Ethiopia told the Ethiopian parliament […]
Multinational Companies are Cutting Back their Presence in Nigeria
Market withdrawals by P&G, PZ, GSK and Unilever, whose presence in Nigeria span generations with brands that consumers associate with an assurance of quality and middle class life, is raising anxiety. Fears are growing over Nigeria’s capacity to hold foreign investors’ attention and retain thousands of jobs amid high levels of poverty. A volatile economy […]
For Years Now, GiveDirectly has been Conducting the World’s Largest Test of Basic Income
It is giving around 6,000 people in rural Kenya a little more than $20 a month, every month, starting in 2016 and going until 2028. Tens of thousands more people are getting shorter-term or differently structured payments. As you might expect, given how entrepreneurially minded the recipients are, the researchers found no evidence that any […]
One of the Largest Investments by a Social Media Platform in the SME Sector in Kenya
TikTok, the popular short-form video platform, is setting up a $1.49 million fund to support small and medium enterprises (SMEs) in Kenya, after its earlier announcement to establish its regional headquarters in Kenya. The fund, which is part of TikTok’s global initiative to empower local communities and creators, aims to provide loans, grants, training, and […]
African Food Systems Urgently Require Decisive Action to Enable Transformation
The African Food Systems Transformation Collective launched a declaration on the commitments that government leaders at COP28 needed to make to transform African food systems. The collective is a network of over 200 leading African academics and civil society representatives. The collective wants world leaders to protect traditional food and seed systems. It has urged […]
Since the Year Began, Ghana has Hopped from One Economic Complication to the Other
The country for more than half of the year grappled with some economic shortcomings, including a two-decade high inflation rate. However, the past few months have seen the Gold Coast regaining some ground. In January Ghana’s inflation rate, according to the data set from the country’s National Bureau of Statistics, was 53.6% and a month […]
Chad wants to Industrialize and Emerge as a Beef Export Powerhouse
At Chad’s newest and most modern slaughterhouse, precision is paramount as razor-sharp knives deftly transform cattle and mutton carcasses into premium cuts, from sirloin to ribeye, brisket, tenderloin, shanks, and ribs. Nothing goes to waste: bones succumb to the sharp metal claws of machines and are turned into dust, yielding animal feed, fat is refined […]
Mogadishu Breathes Sigh of Debt Relief
Somalia is set to receive debt relief of $4.5 billion from the International Monetary Fund and World Bank as part of a debt forgiveness initiative overseen by both organizations. The east African country is one of the poorest in the world, struggling to recover from decades of civil war, and with around 70 percent of […]
Liberian Officials Deny Involvement in Graft
Liberia’s Finance and Development Planning Minister Samuel Tweah has denied corruption accusations by the US that led the Treasury to sanction him and two other officials of the West African nation this week. The Treasury on Dec. 11 designated Tweah along with Senators Albert Chie and Emmanuel Nuquay for their involvement in “significant corruption by […]
