Ethiopia secures $600 million World Bank financing
The World Bank approved $600 million of the International Development Association (IDA) financing to help strengthen the capacity and performance of local urban governments in Ethiopia.
Zimbabwe new president set to present his economic recovery project
Emmerson Mnangagwa’s accession to the presidency of Zimbabwe in late November 2017 marks the beginning of a new era for the country. After 17 years of isolation and economic sanctions, this historic…
Africa’s population explosion is a ticking time bomb
The African Development Bank and its East and North African Governors have stressed the need for urgent measures to match the continent’s growing population and youth unemployment, which they likened to a…
Corruption a scourge Africa can do without, says ECA’s Biha
Corruption is a scourge that has to be combated if Africa is to achieve the laudable goal of leaving no one behind as enshrined in the 2030 Agenda for sustainable development, says…
Women network urges AU to escalate fight against corruption
The African Union Member States must take critical steps to eradicate corruption in Africa that perpetuates gender inequality and the disempowerment of women and girls in the continent, women network urges.
World Bank predicts African economy to grow by 3.2% in 2018
The World Bank forecasts Africa’s average economic growth to rise to 3.2 percent in 2018 and to 3.5% in 2019. The growth is expected as a result of improving commodity prices and…
IMF, UN agency promise to craft new development model for Africa
By Andualem Sisay Gessesse- The International Monetary Fund (IMF) and the United Nations Economic Commission for Africa (UNECA) on Friday announced their plan to introduce a new development model for Africa, which…
U.S. frozen $3.5 billion asset related to foreign corruption
The United States has frozen $3.5 billion in assets linked to foreign corruption and repatriated or is repatriating over $150 million in proceeds of corruption to requesting countries, a U.S. official said.
Africa Week showcases continent’s advancements
The annual Africa Week kicks off on Monday to showcase the Continent’s continuous advancements and achievements with respect to social, economic, political and environmental development.
Africa’s economic performance improves in 2017
Africa’s economic outlook improved in 2017 compared with 2016 and is expected to gain momentum in 2018.
Ethiopia devaluates birr by 15%
Ethiopian government announced its national currency, the birr, by 15% effective Wednesday, October 11, 2017, the National Bank of Ethiopia (NBE) said.
Consensus reached on actions for sustainable industrialization in Central Africa
The 33rd meeting of the Intergovernmental Committee of Experts for Central Africa (ICE2017) has ended in Douala with calls for the adoption of well-targeted and sequenced counter-cyclical measures as a means to…
Zimbabwe secures $600 million loan
The African Export-Import Bank (Afreximbank) yesterday entered into a memorandum of understanding (MOU) to provide a $600-million line of credit to the Reserve Bank of Zimbabwe (RBZ).
Agriculture is future of Africa, says Nigerian billionaire
Nigerian business leader Aliko Dangote told investors “Agriculture, agriculture, agriculture. Africa will become the food basket of the world.”