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Africa’s worst currency at precipice; Naira risk rises amid #EndSARS

Africa’s worst performing currency at a precipice African nations have continuously taken more and more debt from China for infrastructure development. The day of reckoning is approaching for Zambia, which is set either to default on its international borrowings on Nov. 13 or agree to a restructuring of commitments in tandem with an IMF program. […]

ECO currency planning; Naira rates unification; Kenya negative outlook

ECO currency planning resumes after COVID lull Planning for the new West African ECO currency resumed from a lull since the COVID-19 outbreak, with member states working on terms of engagement. In its second ordinary meeting this year on Monday, the Central Bank serving the eight CFA franc member countries – the Monetary Policy Committee […]

Africa’s Debt: Freeze, Forgive, or Forget?

Africa spends more on servicing debt than on healthcare. Few would argue such imbalances demand radical change. However, as of today, there is no consensus on how to resolve Africa’s debt portfolio even in the face of the coronavirus pandemic and the wide ramifications on the economies so Africa is yet at another crossroads. Tune […]

Which markets will be the most affected by coronavirus?

Coronavirus has turned the whole world upside down. Today we can safely say that most of the global economies have already been affected by the outbreak of the pandemic and the remaining ones are likely to suffer negative consequences of the global economic slowdown in the near future. Although it’s too early to count losses, […]

Increased Pressure on African Currencies Amidst COVID-19 Chaos

Nigeria in lockdown faces bank pressure The Naira tumbled to its weakest level in 5 years in the parallel market at 415 per dollar, widening the gap with an official rate of 386 (See: current naira to dollar exchange rate). With 14-day lockdowns announced last week for Lagos and Abuja hitting productivity, banks came under […]

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