Africa Business World 

Opinion: The fall of the Euro, a boon for investors

– – For the first time in two decades, the US dollar and the Euro hit parity in July 2022. The currency, shared by 19 European countries, has slumped more than 11 per cent since the beginning of this year. But the weakened Euro holds great economic significance for businesses as well as individuals, especially those earning and spending in… Read More
Africa Ghana West Africa World 

Ghana: Shortages loom as traders close shops to protest economic hardship

– – There could be shortages of some goods in Ghana in the coming weeks as traders close down shops. The distress action is an initiative of the Ghana Union of Traders Association(GUTA) to protest government’s handling of the country’s current economic challenges. According to GUTA the depreciation of the local currency the cedi has eroded the capital of its… Read More
Africa Business West Africa World 

Nigeria targets diaspora remittances with ‘naira for dollar’ scheme

Banks in Nigeria are encouraging their clients to accept remittances in dollar from relations abroad for a reward. The scheme which was introduced by the Central Bank of Nigeria seeks to offer a reward of five naira for every $1 sent by Nigerians living abroad through international money transfer operators in the country. The scheme is to be called “naira… Read More
Africa Liberia West Africa World 

Liberia: Man drowns trying to rescue $20 note in river

Police in Liberia have said that a man drowned after he jumped into a river in the capital, Monrovia, to retrieve a $20 note he had dropped. Tamba Lamine according to eyewitnesses was walking with a friend on a bridge when the bank note fell. He reportedly jumped from the bridge into the river and successfully located the note which… Read More
Africa Business Southern Africa World Zimbabwe 

Zimbabwe to roll out new bank notes in November

Zimbabwe’s central bank has said that the country’s new bank notes and coins will be in circulation in November this year. The Zimbabwe dollar currency was re-introduced this year after the country abandoned the US dollar as its official currency. This was to stabilize Zimbabwe’s economy which is still struggling to survive and currently in crisis. Zimbabwe’s President, Emmerson Mnangagwa… Read More