Economy

As a result of the Covid-19 pandemic and the fall in oil prices, Nigeria officially entered a recession, following a decline of 3.62% of GDP in the third quarter of 2020, following a decline of 6% in the previous quarter. Africa's most populous country barely recovered from the recession in 2016, following the collapse in oil prices in 2015.…

Two days earlier than the presidential election in Burkina Faso, the 13 candidates, who start one final marketing campaign day, are many to place safety on the middle of their guarantees. However this is not going to be the one lever on this election. Within the financial capital Bobo Dioulasso, many residents say they're deserted and remorse the abandonment of their metropolis. .

It is the lifeline of millions of Africans. Diaspora money weighs much more than development aid from rich countries. But this year, the amounts are declining due to the economic crisis following the Covid-19 pandemic. According to the UN, it will decrease by 21%. Sending money to one's family is the main goal of immigrants.…

The Covid-19 pandemic and its economic consequences risk driving 40 million Africans into extreme poverty, according to the World Bank. From the beginning of the pandemic, governments implemented social protection measures under the leadership of the IMF and the World Bank. It was almost a global reflex. When the Covid-19…

After failing to fulfill $ 42.5 million attributable to its Western collectors in October, Zambia acknowledges that it has critical money flows, however says it's not in chapter. Lusaka explains that they intentionally selected to not substitute any donor. "All collectors needs to be handled pretty," mentioned Zambia's central…

EUR 3.4 billion to add to the 600 million already acquired, this is the amount that the economic and monetary community of Central African countries came to Paris to seek from potential public and private creditors, during a round table two days. Cemac received 3.8 billion. The least developed sub-region on the African…

Within the Democratic Republic of Congo, the authorities try to diversify a nonetheless fragile financial system, which is principally because of the mining sector. To do that, they determined to create six particular financial zones. On November 4, Congolese Prime Minister Sylvestre Ilunga Ilunkamba launched the nation's first pilot "particular financial zone" within the suburbs of the capital…

The French-Ivorian banker Tidjane Thiam was recruited by Rwanda to develop the attractiveness of its monetary sector. The previous head of Credit score Suisse has been appointed Chairman of the Board of Rwanda Finance Restricted, a state-owned firm whose mission is to make Kigali a world monetary heart. as reported from Kigali,…

In Madagascar, lychee exporters have been living the most important eight days of the season since November 13, the opening date for the fruit harvest. The only real unknown: will Western buyers put litchi on the holiday table? Trucks, vans, wagons: a real broom of lychee is currently underway in Tamatave, eastern Madagascar. In less than ten days, 15,000 to 20,000 tons of the little pink fruit will pass through the only two roads in the city that converge towards the port. There, the cranes are busy filling the ship's…

Closed in mid-March as a result of pandemic, the border publish between Tunisia and Libya as soon as once more allowed autos and pedestrians to go on Saturday. Flights between the 2 international locations will resume this Sunday. This opening is a breath of contemporary air for Tunisia, which has been hit arduous by a severe financial disaster.…