Nigerian workers plan cost-of-living strike

Nigerian workers plan cost-of-living strike

Nigerian labour unions will embark on a two-day strike on Tuesday against the spiralling cost of living. According to the BBC, inflation in Africa's largest economy is at almost 30% whilst the local currency, the naira, is rapidly depreciating. Electricity shortages are compounding the hardship. The African Development Bank has warned that conditions are ripe for social unrest.

February 27, 2024 5

Videos

IMF urges vigilance on monetary policy

https://youtu.be/UG1rZkT_FsQ The IMF is urging vigilance on monetary policy globally and says the job is not yet done when it comes to keeping inflation in check despite some weakening in key economies, a spokesperson for the Fund said Thursday (February 22) in Washington, DC. “Broadly speaking, because inflation has been coming down, but it's not yet at target or close enough to target our line, or our view remains the […]

February 23, 2024 14

Africa

African Development Bank warns of social unrest in Nigeria

The African Development Bank, ADB says rising prices of food and petrol could lead to social unrest in the country.

February 19, 2024 26

Africa

Tech-savvy Africans are hedging against inflation by going digital

By Conrad Onyango, bird story agency The recent announcement by Opera MiniPay that it had signed up over one million users in Kenya, Nigeria, and Ghana just five months after its launch is the clearest indication yet of the rising popularity of decentralised finance, or DeFi tools, across the continent. “MiniPay makes it easier and more affordable for individuals across Africa to acquire, send and receive Mento […]

February 19, 2024 18

3

Business / Economics

Oxford Economics Africa Economist Explores Key Drivers Influencing Namibia’s Inflation

Economist Theo Klein from Oxford Economics Africa in South Africa examines the impact of specific macro and microeconomic factors on Namibia's inflation rate. Delving into the intricacies of these influences, Klein sheds light on the dynamics shaping the country's inflation landscape.

February 16, 2024 29 3

Business / Economics

Market Watch – 13 February 2024

Michelle speaks to Oxford Economics economist Theo Klein about how inflation in our neighbouring countries affects us too. https://iono.fm/e/1405946

February 14, 2024 21

Business / Economics

Bank of Namibia expected to cut repo rate by 25bps as inflation cooling

By Josef Kefas Sheehama At its first Monetary Policy Committee meeting of 2024, on the 14 February 2024, the Bank of Namibia is expected to cut its Repo Rate by 25 basis points. All of Namibian’s banks now expect the Bank of Namibia to cut its Repo Rate target by 0.25 basis points on the 14 February 2024, which would bring its key lending rate to 7.50%. This […]

February 13, 2024 39

South Africa

S.Africa inflation drops for second consecutive month

The monthly inflation rate in South Africa eased again in December, dropping 0.4 percentage points to 5.1 percent as food price hikes slowed, official data showed Wednesday. The average inflation rate for 2023 was 6.0 percent, 0.9 percentage points lower in 2022 and matching the upper limit of the central bank's official target range, national statistics agency StatsSA said. "Inflation was relatively hot in the first five months of 2023 […]

January 24, 2024 20

World

Bank of Japan confident on reaching inflation goal

The Bank of Japan says it is optimistic the conditions will become right to tweak ultra loose monetary policy in the future. It held off any policy adjustments at its first policy meeting of the year on Tuesday, saying its waiting to sustainably hit its 2-percent inflation target. Chris Gilbert reports from Tokyo.

January 24, 2024 15