Nigeria’s Food Crisis Expected to Worsen Amid Economic Hardship

Nigeria’s Food Crisis Expected to Worsen Amid Economic Hardship

Nigeria is projected to see a severe hunger crisis next year, with over 30 million people facing food insecurity—a 33% increase from this year—due to economic challenges, according to a government and UN report as seen by CNBCAfrica. Economic hardship has intensified following austerity reforms by President Bola Tinubu, including currency devaluation and the removal of a longstanding petrol subsidy, contributing to rising inflation and a cost-of-living crisis.

November 4, 2024 6

Business / Economics

SA’s inflation drops to 3.8-percent

South Africa's inflation rate fell to 3.8 percent last month, down from 4.4 percent in August, marking the lowest rate since early 2021 mainly due to lower transport costs as fuel prices dropped by nine percent from last year. Statistics South Africa’s Patrick Kelly.

October 23, 2024 22

Africa

Nigeria police fire tear gas on hardship protests

By Laurie Churchman Nigerian police fired tear gas on Thursday to break up several hundred protesters in the northern city of Kano and in the capital Abuja where demonstrators had joined in nationwide rallies against the high cost of living. Africa's most populous country is struggling with soaring inflation and a sharply devalued naira after President Bola Ahmed Tinubu ended a costly fuel subsidy and liberalised the […]

August 1, 2024 35

Business / Economics

FNB Namibia expects inflation to tick up slightly in June

FNB Namibia expects headline inflation to rise by 0.1 to 5.0 percent year-on-year in June. The bank further anticipates a slight decrease in inflation on a month-on-month basis of 0.1 percentage points to 0.2% in June 2024, primarily influenced by a 0.7% reduction in transport costs compared to the previous month. FNB Namibia economist Helena Mboti. Mboti says the alcoholic beverages and tobacco category will significantly contribute to inflation, […]

July 2, 2024 65

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Africa

Kenya youth protesters gear up for nationwide strike

By Rose TROUP BUCHANAN Kenya braced for a national strike Tuesday following a call by youth protesters for a sweeping shutdown, as opposition to the government's proposed tax hikes gathers momentum. The mainly Gen-Z-led demonstrations have taken President William Ruto's government by surprise, with the Kenyan leader saying over the weekend that he was ready to speak to the protesters. Discontent over the already […]

June 25, 2024 40 2

Africa

Over 200 injured, 100+ arrested in Kenya tax hike demonstrations

Nationwide protests in Kenya against government tax hike plans have resulted in over 200 injuries and more than 100 arrests. Human rights groups, including Amnesty International, reported a violent crackdown by riot police, involving tear gas, water cannons, and rubber bullets, with at least 105 protesters detained. Future Media's Tshoopara Tshoopara reports from Kenya.

June 24, 2024 19

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Business / Economics

EXCLUSIVE INTERVIEW; Navigating the Impact of Rising Fuel Prices and Electricity Tariffs: Insights from Josef Kefas Sheehama

In the midst of economic challenges and the aftermath of the COVID-19 pandemic, Namibians are grappling with the harsh reality of increasing fuel prices and electricity tariffs. Josef Kefas Sheehama, an observer of socioeconomic trends, sheds light on the pressing issues facing many households in Namibia and offers perspectives on the road ahead. Sheehama begins by acknowledging the significant burden that rising fuel and electricity costs place on individuals already […]

April 30, 2024 16 2

Namibia

Government Institutions Pension Fund increases pension and disability income benefits

The Government Institutions Pension Fund announced pension and disability income benefits increases. The Board of Trustees took this decision after a thorough actuarial due diligence process and in consideration of various factors such as the inflation rate, cost of living, reasonable benefit expectations of its active annuitants, affordability on the part of the Fund and the average annual return over the last five years, as well as the current and […]

April 29, 2024 40

Business / Economics

UNam expert talks Rising Cost of Living Challenges

The escalating cost of living, both locally in Namibia and worldwide, has presented enduring challenges, making essentials like food and water unaffordable for many. Governments are grappling with aiding citizens in meeting these basic needs on a daily basis. Dr. Basilius Kasera, a faculty member in Human Sciences at UNam, provides his perspective on one possible solution.

April 16, 2024 39