Despite macroeconomic headwinds, advances in sophistication, depth and transparency of African capital markets represent a considerable plus, stated David Marsh, Chairman, OMFIF as South Africa, Mauritius and Nigeria have maintained their positions in the top three this year on the Absa Africa Financial Markets Index (AFMI), as they continue to score highly on the measures of market depth, transparency and enforceability of legal agreements.

The Ethiopian government has ordered banks to deny foreign currency to businesses importing non-priority goods, in an effort to shore up dwindling foreign reserves in one of Africa’s major economies.

Experts on Science, Technology and Innovation, STI, from the Economic Community of West African States, ECOWAS, have convened in Abuja, Nigeria’s capital to strengthen collaborations in the sector.

The Middle East is projected to grow at 5% this year, up from 4.1% in 2021, but will slow next year to 3.6% due to the worsening global conditions, an International Monetary Fund official said on Thursday. 

South Africa's President Cyril Ramaphosa has withdrawn controversial perks for cabinet ministers and their deputies that saw their homes supplied with free electricity and water.

Following the global economic challenge exacerbated by Russia’s invasion of Ukraine, the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has invited foreign investors to consider Nigeria and other countries in Africa, stressing that they are choice investment destinations.

European Union, EU, foreign ministers are meeting in Luxembourg to agree on a mission to train 15,000 Ukrainian troops and an extra 500 million euros worth of funding for arms deliveries to Kyiv.

The war in Ukraine and rising inflation have pushed an additional four million children across eastern Europe and Central Asia into poverty.