Africa Business Ghana West Africa World 

Ghana goes back to the IMF for support amid economic distress

– – Ghana’s government has announced plans to seek support from the International Monetary Fund (IMF) as it continues to struggle with worsening economic conditions. The West African nation’s economy continues to plummet as it struggles to improve the living standards of citizens. The country’s public debt stock now stands at GH¢341.8 billion ($45.5 billion) with a corresponding debt to… Read More
Africa 

Mali’s transition govt sets February 2024 for presidential election

The Malian government has adopted an electoral calendar for the transition three days before a summit of the Economic Community of West African States (ECOWAS), which is due to consider the tough sanctions imposed on the junta in January. The date of the presidential election is set for February 2024, and that of the referendum on the new constitution for… Read More
Africa 

Ethiopia again denies killing seven Sudanese soldiers at disputed border area

Ethiopia Prime minister Abiy Ahmed has denounced the allegation by Sudan that the Ethiopian defense force executed seven Sudanese soldiers. Speaking through Billine Seyoum, his spokesperson, the prime minister on Thursday said “remains committed to the principles of amicable resolution and of any differences among states, particularly Sudan is very close“ ” Again the Ethiopian side does regret the loss… Read More
Africa North Africa Sudan World 

Nine protesters killed during anti-military protests in Sudan

– – Doctors in Sudan say nine protesters have so far died following protests against military rule. Many of the victims according to doctors had been shot by security forces who had confronted large crowds in multiple cities. There were instances where the military tried to break into hospitals where some of the injured were being treated. During Thursday’s demonstration, protesters… Read More
Africa 

With mangrove conservation, Kenya’s coastal communities plant seeds of sustainable ‘blue growth’

Mangroves are tropical marine forests with huge potential. They protect coastlines from erosion and storm surge; and provide food and shelter for a diverse array of wildlife, and nursery habitats for commercially important fish and shellfish. They also fight climate change: the UN Environment Programme (UNEP) estimates that global mangrove forests sequester within their roots, trunks, and in the soil… Read More
Africa Investments 

US President Biden backs African Development Bank’s plan to feed Africa

The United States has announced support for the African Development Bank’s initiative to significantly increase food production in Africa to avert the looming food crisis caused by the Russia-Ukraine war. The Bank Group’s $1.5 billion African Emergency Food Production Facility, approved by its Board of Directors in May, will provide 20 million smallholder farmers with climate-smart, certified wheat, maize, soy… Read More
Africa Investments 

African Development Bank launches first ESG African frontier-currency bond

The African Development Bank on 14 June 2022 launched a 19-billion Ugandan shilling (UGX) ($5.07 million) 2-year theme bond, the first-ever African frontier currency-denominated environmental, social and governance (ESG) issuance by a multilateral development institution. The bond, due June 2024, will be settled in dollars at a fixed coupon of 10.5%. It was issued under the African Development Bank Group’s… Read More
Africa 

Is time running out for Africa to industrialize? [Business Africa]

Despite efforts made by countries over the years to industrialize, Africa’s share of global manufacturing remains negligible. Manufacturing has been touted as the key to unlocking productive jobs, bigger export revenues, and sustainable development. In 2019, Africa’s industrial GDP expanded by 17% to $731 billion, with the value-added of manufacturing surging by 39%, according to the African Development Bank. The… Read More
Africa 

DP Ruto unveils Kenya Kwanza manifesto ahead of election

Kenya’s DP William Ruto presented, Thursday, key policies he would implement if elected in the August 9 presidential race. Speaking in Nairobi, Ruto vowed to carry out the plan of his Kenya Kwanza coalition. Before a crow of supporters, the Deputy President insisted the policies in the manifesto aimed at achieving “durable growth, while maintaining macroeconomic stability and empowerment of… Read More
Africa Investments 

Ghana: African Development Fund approves $27.19 million grant for skills development infrastructure to boost post Covid-19 recovery

The Board of Directors of the African Development Fund today approved a $27.19 million grant to Ghana for infrastructure for skills development and job creation for youth and women in its post-Covid-19 recovery efforts. The grant will enhance higher-level skills delivery in the health system in the West African nation and create jobs for youth and women. The Post-Covid-19 Skills… Read More
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