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IMF cash to prop up Naira and Kenyan Shilling while Cedi languishes at lowest this year

Wealthy nations urged to reallocate IMF cash injection to poorer economies The IMF’s record $650 billion reserves distribution came into effect earlier this week, with

New Zambian President HH brightens post-default outlook

Zambia’s opposition leader Hakainde Hichilema won the country’s presidential election against incumbent Edgar Lungu, clinching victory by around one million votes. It was the Zambian

Naira to climb on CBN measures while Bank of Ghana injections fail to halt Cedi slide

Naira poised to strengthen as CBN eases liquidity constraints The Naira was broadly stable on both the official and unofficial markets this week, trading steady

Naira recovers after CBN guidelines on BDCs

The Naira appreciated in the parallel market, trading at 508 to the dollar compared to 525 at the close of last week. Market panic after

Nairobi’s status as regional hub buoyed by UK investment

Kenya’s ambition to build Nairobi into a regional financial hub and compete with Dubai as a channel for regional trade received a boost this week

Delay to East African single currency mirrors Eco

The East African Community Council of Ministers is due to meet before the end of this year to revisit the roadmap for implementing a single

Looting plunges Rand amid mass army mobilization

The Rand tumbled to 14.51 against the dollar from 14.24 at last Friday’s close after days of violence and looting following former President Jacob Zuma’s

Calls for comprehensive Africa COVID support

The International Monetary Fund and World Bank should lead G7 and G20 nations towards a comprehensive financial assistance package for Africa to help tackle the

COVID recovery requires joined up global support

Africa and Europe called for greater cooperation to tackle the economic fallout from the coronavirus pandemic at the Africa Roundtable forum this week in Berlin.

African rate-setters steadfast in face of a cut

A majority of African central banks have kept their interest rates unchanged since the start of this year as the economic growth outlook is countered

Eco currency debate rumbles on as Naira devalues

West African states debate new Eco currency The West African Eco currency symposium took place in the Togolese capital Lomé this week to discuss issues

African leaders call for expanded IMF support

African presidents from countries including the Democratic Republic of Congo and Senegal called for the IMF to triple the amount of money available to Africa

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