insert_link Africa World Bank Cuts Kenya’s Growth Forecast to 4.7% CNBCAfrica says the World Bank on revised Kenya’s 2024 economic growth projection down to 4.7% from an earlier estimate of 5.0%, attributing the downgrade to the effects of floods, anti-government protests, and sluggish fiscal reforms on Tuesday. Despite progress in stabilizing the exchange rate, increasing central bank reserves, and reducing inflation, Kenya remains at a high risk of debt distress, according to the bank's latest report. today11 December, 2024
insert_link Africa South32 Halts Forecast for Mozal Aluminium Amid Mozambique Unrest Australian firm South32 has withdrawn its production forecast for the Mozal Aluminium smelter in Mozambique, citing escalating violence following disputed October election results according to CNBCAfrica. The unrest has led to road blockages, disrupting the delivery of raw materials to the plant, where South32 holds a 63.7% stake. Protests by opposition supporters have fueled the instability. today11 December, 2024
insert_link Africa Italy and African Development Bank Seal €400 Million Deal Italian state lender CDP and the African Development Bank signed a €400 million roughly US$420 million co-financing agreement on Thursday to support climate finance, sustainable agriculture, education, and technical assistance. The deal, which was finalized during the AfDB's Africa Investment Forum in Rabat, is part of Italy’s €6 billion Mattei plan aimed at boosting African development. today6 December, 2024
insert_link Africa Botswana’s Central Bank Holds Interest Rate Steady CNBCAfrica reports that Botswana’s central bank has decided to keep its main lending rate at 1.90% on Thursday, citing expectations that the economy will remain below capacity and not generate inflationary pressures due to a downturn in the global diamond market. This marks the second consecutive meeting where the rate has been left unchanged. The rate is applied through a seven-day instrument. today6 December, 2024
insert_link Africa Nigeria Seeks South Africa’s Support to Join G20 and BRICS The Nigerian government has officially requested South Africa's endorsement for its bid to join the G20 and BRICS groups of leading economies. According to Duetsche Welle, Nigeria's Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, made the request during bi-annual talks in Cape Town. South Africa, which recently assumed the G20 presidency, has welcomed Nigeria's request. The move highlights the ongoing political and economic rivalry between the two nations. today5 December, 2024
insert_link Africa Ghana’s Economic Crisis Dominates Election Campaign Public frustration over Ghana's economic struggles, including soaring prices and high unemployment, has overshadowed the lead-up to Saturday's general election. CNBCAfrica reports that support for outgoing President Nana Akufo-Addo and his New Patriotic Party has waned, as the country faces its worst economic crisis in decades. Protests over the cost of living and turmoil in key industries, such as cocoa and gold, have further fueled discontent. today5 December, 2024
insert_link Africa Unknown Disease Claims 79 Lives in DR Congo…… BBCAfrica says at least 79 people have died from a mysterious illness with flu-like symptoms in southwestern Democratic Republic of Congo. The majority of victims are between 15 and 18 years old, with over 300 infected. Symptoms include fever, headaches, coughs, breathing difficulties, and anemia. Health teams are investigating the outbreak in Kwango Province. today5 December, 2024
insert_link Africa Opposition leader calls for week of protests in Mozambique Mozambique's opposition leader, Venâncio Mondlane, has called for another week of protests starting 4 December 2024, accusing the government of election fraud. According to Bloomberg, the unrest, already marked by violence and economic disruptions, has resulted in dozens of deaths and threatened a major gas project. Police have responded with force, including live bullets, drawing international criticism. today4 December, 2024
insert_link Africa Nigeria’s Financial Crimes Commission Seizes Largest Ever Asset Cache Nigeria's Economic and Financial Crimes Commission has announced its largest-ever seizure of assets, confiscating a housing estate of over 750 properties in Abuja. BBC Africa has it that the properties are suspected to have been purchased with funds from corruption, though the EFCC did not disclose the former government official behind the assets. Established in 2003, the EFCC aims to combat widespread corruption in the country. today4 December, 2024
