Kenya – President William Ruto has fired the full cabinet Secretaries and the Attorney General and has only retained the Minister of foreign affairs and the Deputy President. This follows…
Browsing: Africa news
Ghana: The Ghanaian Finance Ministry yesterday announced that the government’s pension fund debt exchange had closed with a 95% participation rate, while the USD-denominated bonds exchange had closed with a participation…
MTN Uganda has reported a strong growth in service revenue. According to CEO Sylvia Mulinge, the telecommunication giant has reached $335 million in the first half of 2023, resulting in…
Moody’s yesterday upgraded Zambia’s local currency long-term issuer rating to Caa3 from Ca with a Stable outlook. The rating agency said that the upgrade follows the announcement of an agreement…
Ghana: Ghana’s consumer inflation rose for a third consecutive month, coming in at 43.1% y/y in July, up from 42.5% in the preceding month and above our estimated 42.0%. CPI rose…
Ghana: Finance Minister Ofori-Atta yesterday presented the government’s Mid-Year Fiscal Policy Review to parliament. He disclosed that the overall budget deficit for 2022 (on a commitment basis) was 11.8% of GDP…
The Kenyan National Library Service has alongside Youth Affairs, Sports and Arts CS Ababu Namwamba has officially launched the first virtual library. The $1.7 million library contains more than 200,000…
Nigeria: Nigeria’s June consumer inflation at 22.8% y/y was slightly below our expectations (Absa Research 22.9% and Bloomberg consensus 23.0%), although it was up 0.4pp from the preceding month. CPI rose…
Nigeria: Yesterday, the World Bank published its bi-annual Development Update for Nigeria, titled ‘Seizing the opportunity’. The Bank noted that removal of the petrol subsidy and foreign exchange management reforms are…
S&P, on 2 June, cut the ratings of two more Ghanaian Eurobonds to D from CC after the country missed principal and interest payments on these bonds (the USD1bn 2029…
