Nigeria’s naira eased by 6.2% against the U.S. dollar on the official market on Wednesday after the government moved to converge its multiple exchange rate regime, traders said.
The naira opened for trade at 385 per dollar on the market, supported by the central bank. It closed at 361 at...
The International Air Transport Association (IATA), Airports Council International- Africa (ACI Africa) and the International Civil Aviation Organization (ICAO) Regional Offices for African States are united in their call to governments in Africa to rapidly implement ICAO’s global guidelines for restoring air connectivity to ensure the safe and harmonised restart...
Tanzania has begun negotiations with creditors over a G20 nations initiative over debt relief, the finance minister said last week Thursday, part of efforts to mitigate negative economic effects sparked by the coronavirus outbreak.
The initiative is geared towards delaying debt repayments beginning in May to December 2020, freeing up...
Shareholders of African Export-Import Bank (Afreximbank) have voted and re-appointed Prof. Benedict Oramah as President of the Pan-African multilateral financial institution for a second 5-year term.
The decision was announced in Cairo last Sunday following Afreximbank’s 27th Annual General Meeting of Shareholders which was held by circulation of resolutions due to the COVID-19...
The unfolding US-China power rivalry bears a striking resemblance to the tensions between the US and the Soviet bloc during the Cold War years. Back then, African countries were positioned like pawns on a grand chessboard. Their social and economic progress was hampered because they expended energy aligning themselves...
Hydrogen power has been on the market for decades but has never really been able to break the glass ceiling of mass-market appeal, mainly due to a host of technical and cost issues.
Indeed, battery power appears to be winning the race to replace the internal combustion engine (ICE) more...
The African Development Bank has responded swiftly to the needs of its member countries during the ongoing COVID-19 pandemic. The Bank’s operations have continued to run smoothly since the first cases appeared in early March, despite the wide range of lockdowns and measures imposed by governments to flatten the curve.
The...
Not too long ago, when the idea of solar and wind energy was still hotly debated, critics used to point out the limitations of these energy sources: the sun doesn’t always shine and the wind doesn’t always blow. But nowadays many countries’ electricity grids are strongly supplied by renewable...
Students in introductory macroeconomics courses typically used to learn about the paradox of thrift. This theory, popularized by John Maynard Keynes, states that if households decide to save more and consume less during a slowdown or recession (because of uncertainty about future income), then the resulting reduction in aggregate...
The global top 40 mining companies are so far weathering the COVID-19 crisis but should take advantage of relative stability to adopt strategies to mitigate against further economic and social risks, according to PwC’s Mine 2020 report.
PwC’s forecast for 2020 suggests the big miners will take a modest hit to earnings...