Business and Finance

President Netumbo Nandi-Ndaitwah’s move to appoint seven new deputy ministers has drawn swift criticism from political analysts and opposition figures, who argue the decision will meaningfully inflate government spending. They describe the plan as poorly conceived, saying it places fresh strain on the national budget. Each of the seven deputies will earn N$65 000 a month — N$780 000 a year — adding nearly N$1.7 million annually to the wage bill for public office bearers. Critics also questioned whether the appointees can…

Zimbabwe’s central bank says the rollout of the new ZWG notes is ready, with distribution set after banks completed the logistics and operational plans required for a "seamless" transition, according to an official statement. Central Bank Governor John Mushayavanhu said the "Big Five" series has already been deployed nationwide in volumes sufficient to meet demand, remaining within existing daily and weekly withdrawal limits, and will be introduced in phases.

The escalating conflict in the Middle East is prompting a significant shift in oil procurement strategies among European and Asian buyers, who are increasingly turning to African oil-producing nations. These countries not only offer lower insurance costs but also promise more consistent delivery timelines compared to the high-risk regions of the Middle East. According to industry analysts, leading African energy players—namely Nigeria, Libya, Angola, Gabon, Mozambique, Namibia, and Tanzania—are being regarded as safer…

Mozambique has wiped out its arrears to the International Monetary Fund, settling U.S. $630,1 million in full by month’s end after beginning the month owing the entire amount. Among 85 countries listed by the Fund, Mozambique is the only country in this situation. With the IMF arrears cleared, securing additional financing from the Fund could become easier. The country previously received about $468 million through a 2022 Extended Credit Facility programme, which was suspended in April 2025 after only partial disbursements.…

In a decisive move, the House of Representatives has greenlit President Bola Tinubu's proposal for a substantial external loan totaling $6 billion, primarily designed to address fiscal deficits and support critical infrastructure initiatives. This approval facilitates the federal government’s ability to secure financing from international lenders based in the United Arab Emirates and the United Kingdom. The comprehensive financial package encompasses a significant $5 billion Total Return Swap arrangement with First Abu…

Years after the Fishrot fraud and corruption scandal first rattled Namibia, government-appointed curators say their bid to trace, seize and administer assets tied to the case is being stalled on multiple fronts. Appointed in 2024, the curators report running into legal and institutional obstacles at home and abroad, while also voicing frustration over local banks’ slow or absent replies, cancelled engagements with the accused, and gaps in critical records — all of which have dragged out their work. Back in 2020, The…

South Africans face the prospect of record pump prices, even as Finance Minister Enoch Godongwana moves to trim the fuel tax by R3.00 a litre on both petrol and diesel. The step comes after crude prices surged by nearly 50% following attacks by the U.S. and Israel on Iran on  February 28. 

In a decisive move to reshape the apparel market, the Ministry of Industry and Commerce has enacted a formal ban on importing second-hand clothing, tightening entry rules for these goods with permits now issued only under stringent conditions. The step comes amid ongoing concerns about the country’s fragile clothing value chain and the pressure it faces from cheaper, imported stock. Marketers have questioned the timing, warning that while the policy is billed as a lifeline for local manufacturers, it should be calibrated to…

France has revoked South Africa’s invitation to the forthcoming G7 summit, removing Pretoria from the guest list for the high-profile gathering. Paris rejected early claims that Washington had pushed for the exclusion, and South African President Cyril Ramaphosa likewise dismissed suggestions of U.S. pressure. South Africa, not a G7 member, had been slated to attend as an observer. French officials said they were pursuing a “streamlined G7” and have invited Kenya instead, citing its role in helping France prepare a major…

In a significant move towards enhancing its digital landscape, Burkina Faso is prioritizing local languages in its Artificial Intelligence development strategy, underscoring a commitment to digital sovereignty. The initiative was unveiled in Ouagadougou during an event hosted by the Ministry of Digital Transition. Officials introduced a program focused on formalizing local languages and establishing a "comprehensive data corpus for Large Language Models." This session gathered an array of stakeholders—including…