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Post-COVID seeds of innovation are transforming African finance to farming

Beyond the immediate toll on African economies, the pandemic has triggered critical innovations and breakthroughs whose benefits will outlive COVID-19. In a conversation hosted by AZA between leading experts on the continent, we explore a year of rapid development from finance to farming. To watch the webinar, click here or on the image below. Plunging Naira meets […]

Mali’s hidden risk in currency clampdown; Lowest Kenyan Shilling has further to fall

Hidden danger in Mali coup from currency clampdown Beyond the fallout from political turmoil in Mali, a clampdown on transactions in the West African CFA Franc risks adding to the COVID-era economic disarray. Within hours of the military seizing power, the Central Bank of West African States (BCEAO) announced protective restrictions on the flows of […]

Naira activity subdued post-Eid; Importer obligations weigh on Kenyan shilling

Naira activity subdued post-Eid With minimal activity after the two-day Eid holiday, the Naira appreciated slightly to 473 per dollar in the parallel market at the beginning of the week before slipping back to 474. A shortage of dollars persists given recent weeks of lower revenue from oil, Nigeria’s biggest foreign exchange earner. Demand has […]

CBN Under Pressure to Devalue Naira; Tanzania Gains Low-Middle Income Status

Assessing the economic damage How bad is the economic fallout from COVID for sub-Saharan Africa? The IMF gave its best estimate last week, updating a dismal forecast in April for a 1.6% contraction in the continent’s economy this year to a yet more dire projection of negative 3.2%. Even with the recent recovery in oil […]

Xi’s forgiveness spurs debt relief optimism; Rand in resistance; Flower power for shilling

Xi’s forgiveness spurs debt relief optimism Amidst weaker economic growth projections, Africa’s currencies look largely unscathed as funds from the World Bank and IMF continue to boost reserves while President Xi’s vow to cancel concessional Chinese loans due this year and rework some commercial debt has bolstered the prospect of a G20 debt relief package. […]

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