Economy

Nigeria is formally in recession for the primary time in additional than a decade, ending three years of low however optimistic progress. The African nation's financial system is closely depending on oil exports, however the coronavirus pandemic has lower international demand and the value of oil has fallen. That is unhealthy information for a rustic whose price range plans had been depending on getting a sure value per capita. Barrel, a value that now means Nigeria is promoting crude oil at a loss. Our correspondent…

Togo's new prime minister, Victoire Sidémého Tomegah-Dogbé, 60, is the primary lady to take over as prime minister. of the opposition. After her basic political speech to the Nationwide Meeting, she hosted a authorities seminar final week. RFI interviewed her for her first interview with international media since her appointment on September twenty eighth.…

Lower than 15 days earlier than the primary spherical of the Ivory Coast presidential election, this week RFI is providing you a sequence of 5 studies from Africa and the economic system. First half on Monday: The best way to make Ivorian cashew extra aggressive and, particularly, to overcome the British and European markets? That was the topic of a debate that befell on Friday 16 October in Abidjan.…

Sudan signed a "historic" memorandum of understanding on Thursday with General Electric, the US power generation group. The deal comes after decades of US sanctions, with Sudan since 1993 on the US blacklist of countries supporting terrorism. Between 1992 and 1996, the Sudanese dictator Omar-al-Bashir had really welcomed the leader of the jihadist group al-Qaida, Osama bin Laden.…

African countries and their creditors have their eyes set on Zambia, which in the coming weeks could become the first defaulted country since the Covid-19 crisis. Lusaka this week asked its creditors to postpone the deadlines for a tranche of three billion euros of loans in Eurobonds. At the same time, Zambia is reluctant to settle arrears of payments to its Chinese creditors. If there is no agreement, the country says it will no longer be able to pay its debt. The Zambian case highlights the inadequacy of the measures…

If the global economy recovers, the rise to pre-crisis activity levels is likely to be long, erratic and uncertain, the International Monetary Fund said in its economic forecast released at its autumn meetings. . Return to activity will be particularly difficult for certain new and developing countries, where infections are growing rapidly. But also for the African countries that relied on their oil exports or tourism to come back. Sub-Saharan Africa could experience its first recession in 25 years. After 3.2% growth…

They are two candidates for the head of the organization: a Korean, Yoo Myung-hee, and a Nigerian, Ngozi Okonjo-Iweala. Portrait of the latter carrying hope on the African continent. as reported from Lagos, Liza FabbianShe is the first woman to have held the positionMinister of Finance in her country she has been twice. Ngozi…

Weighted by the economic downturn from the Covid-19 pandemic, growth in sub-Saharan Africa is expected to fall to -3.3% by 2020, dragging the region into its first economic recession in 25 years, according to the latest regional economic analysis ”, Produced by the World Bank. The pandemic also risks pushing 40 million Africans into extreme poverty and erasing at least five years of progress in the fight against poverty. It is a relaxing figure: 40 million Africans are at risk of falling into extreme poverty, about three…

The continuation of our series dedicated to transformations of the Guinean economy, the country Alpha Condé is very late on the Internet, but this delay can be compensated with the arrival of optical fiber. China has funded the construction of a public fiber optic network, known under the "backbone" of Anglicism. It is now entering the marketing phase. The traffic on the two buried loops over 4400 km,…

The head of the South African bank VBS was sentenced to 10 years in prison. He is accused of plundering the economy of the poorest. It is one of the biggest corruption scandals in South Africa. On Wednesday, former CFO Philip Truter was the first to be convicted in the VBS case. VBS-mutual bank was nicknamed "the bank of the poor". Founded at the height of apartheid in 1982 in Venda, a former Bantustan far north in the country reserved by the white authorities for black communities, the bank housed the money for the most…