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Economy
Kenya's central bank holds main lending rate
Date:Apr 3, 2024
Kenya's central bank held its benchmark lending rate, opens new tab at 13.0% this Wednesday, its monetary policy committee (MPC) said, to allow inflation to continue declining to the desired level.
Kenya to cut 2024/25 spending plan by 12%: President
Date:Apr 3, 2024
Kenya will reduce its spending plan for the financial year starting this July by 12% to 3.7 trillion shillings ($28.35 billion), President William Ruto said, part of efforts to attain a balanced budget in the next three years.
SA policymakers in talks on lowering inflation target: Governor
Date:Apr 3, 2024
South African (SA) policymakers are in discussions on lowering the central bank's inflation target, its Governor said this Wednesday, adding that a lower target would make the country more competitive and bring the central bank in line with peers.
Egypt President starts third term, pledges more investment, social spending
Date:Apr 3, 2024
Egyptian President, Abdel Fattah al-Sisi, was sworn in for his third term yesterday in the country's new capital, the largest of the mega-projects that have come to symbolise his rule while stretching the country's finances.
SA revenue collection shows resilience despite tough economic times
Date:Apr 3, 2024
Revenue collection has shown resilience despite the difficult economic environment.
Nigeria’s electricity regulator hikes tariffs for wealthier consumers
Date:Apr 3, 2024
Nigeria’s electricity regulator this Wednesday approved an increase in electricity tariffs for wealthier consumers in Africa’s most populous nation, it said in a statement.
Zambia negotiating $3.3bn commercial debt restructuring
Date:Apr 3, 2024
Zambia is in talks to restructure $3.3 billion of commercial debt, after reaching a deal with overseas holders of its sovereign bonds last week, an official said this Wednesday, as the country seeks to emerge from a three-year default.
Nigeria’s Dangote refinery supplies petroleum products to local market
Date:Apr 3, 2024
Nigeria's Dangote oil refinery started supplying petroleum products to the local market yesterday, a company executive and fuel marketing associations said, a major step in the country's quest for energy independence.
IMF ends Ethiopia visit, deal not yet secured
Date:Apr 3, 2024
The International Monetary Fund (IMF) concluded its visit to Ethiopia to discuss a request for IMF support yesterday without reaching an agreement, leaving the East African nation short of a commitment it made with its international creditors.
Nigeria to cut electricity subsidy: Presidential Spokesperson
Date:Apr 2, 2024
Nigeria plans to axe an electricity subsidy for 15% of consumers to reduce its 3.3 trillion naira ($2.6 billion) cost, part of reforms to ease pressure on public finances, presidential Spokesperson Bayo Onanuga said this Tuesday.
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