African policymakers must grow investment in R&D to sustain Africa’s economic structures and grow digitally – IMF report
Charles Abuede
May 6, 2021
Charles Abuede The International Monetary Fund (IMF), in a recent report, opined that for Africa’s development to be sustained, African policymakers must foster investment in research, development, and innovation (R&D&I) to reboot the continent’s economic structures and catch up technologically with the rest of the world. It consequently stated that innovation and the digital information […]
Ethiopia: ADF provides $31.2m to boost country’s nutrition, end child stunting
BEN EGUZOZIEApril 30, 2021
Ben Eguzozie, in Port Harcourt Board of directors of the African Development Fund (ADF) has given approval to a grant of $31.2 million to the Ethiopia to increase its access to multi-sectoral nutritional services for children under-five years, by boosting access to services for improved health, a more diverse and nutritious food, and improving […]
Egypt secures US$ 114 million financing package for largest solar plant
Wale AmeenApril 23, 2021
Funding comes from a consortium of lenders including European Bank for Reconstruction and Development, OPEC Fund for International Development and the African Development Bank Wale Ameen Online Editor Egypt has secured funding for the construction of its largest solar plant from a consortium of lenders which includes the European Bank for Reconstruction and Development (EBRD), […]
Tightening global financial conditions triggered over $5bn capital outflows from Africa in the first quarter of 2020 – Afreximbank
Charles AbuedeApril 21, 2021
Report by the bank highlights how trade finance will play a key role in transforming the African economy as lifeblood of commerce Charles Abuede A trade finance survey by the African Export-Import Bank (Afreximbank) in collaboration with the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB) and Making […]
New report on COVID-19 impact on African trade finance shows massive capital outflows to $5bn in Q1 2020
BEN EGUZOZIEApril 20, 2021
…African trade amounts to $1,077 bn …Survey done by Afreximbank, UN-ECA, AfDB, MFW4A …185 banks across Africa representing 58% surveyed Ben Eguzozie, with wire copy A new report which looked at the COVID-19 impact on African trade finance shows that the continent experienced massive capital outflows exceeding $5bn by the first […]
IMF says sub-Saharan African will need additional funding of $245bn to remain afloat during the pandemic
Charles AbuedeApril 16, 2021
Charles Abuede The International Monetary Fund (IMF) has stated that the low-income countries within the sub-Saharan African region will need about $245 billion in external funding needs over the next five years of the whole region will need the sum of $425 billion in order to stay afloat and also help boost spending on […]
Greenpeace Africa reacts to East Africa crude oil pipeline deal
Wale AmeenApril 14, 2021
Says project will have harmful impact on global effort on clean energy East Africa needs clean energy that will help preserve its natural heritage Wale Ameen Online Editor In reaction to the news that the East African nations of Uganda and Tanzania along with oil firms Total and CNOOC have signed agreements to […]
European Central Bank could launch its digital currency within 4 years, says Christine Lagarde
Charles AbuedeMarch 31, 2021
Charles Abuede The President of the European Central Bank (ECB), Christine Lagarde, has said her institution could launch a digital currency within the next four years (2025) if her fellow policy makers grant the project the support and green light this summer. Lagarde, who made this revelation during a monitored interview on Wednesday said: “We […]
World leaders call for expansion of debt suspension to enable low-income countries achieve sustainable economic recovery
Wale AmeenMarch 30, 2021
Meeting called by Prime Minister Justin Trudeau of Canada, Prime Minister Andrew Holness of Jamaica and the UN Secretary-General, Antonio Guterres Achievement of sustainable development goals at risk – United Nations Secretary-General, António Guterres Wale Ameen Several heads of state and governments as well as key figures from the United Nations and […]
Afreximbank, AU move 2nd Intra-African Trade Fair to December 2021
Ben EgozozieMarch 22, 2021
…Covid-19 vaccines roll-out cited for date shift …Inaugural fair recorded $32.6bn concluded deals …Organizers refrain from adducing expected deals Ben Eguzozie The African Export-Import Bank (Afreximbank) and African Union (AU), major promoters of the intra-African trade fair, have shifted the date of the second edition of the recently introduced continental trade exhibition to […]