Senegal is making progress toward a deal with the International Monetary Fund, according to the head of the Arab Bank for Economic Development in Africa.
Senegal is making progress toward a deal with the International Monetary Fund, according to the head of the Arab Bank for Economic Development in Africa.
Mozambique, one of the world’s poorest countries, raised diesel prices by 46% on Thursday as African governments lift regulated rates to catch up with higher global market prices caused by the war in Iran.
Mozambique, one of the world’s poorest countries, raised diesel prices by 46% on Thursday as African governments lift regulated rates to catch up with higher global market prices caused by the war in Iran.
Angola’s Cabinda oil refinery, among the first to be built in Africa in decades, has started shipping fuel, helping the crude producer bolster domestic supply and reduce reliance on imports.
Angola’s Cabinda oil refinery, among the first to be built in Africa in decades, has started shipping fuel, helping the crude producer bolster domestic supply and reduce reliance on imports.
Zambia’s talks with the US over a new $2 billion health-aid deal stalled because the proposed agreement included data sharing that would violate citizens’ privacy rights and was conditional on first agreeing to preferential access to mineral resources, the nation’s foreign minister said.
Zambia’s talks with the US over a new $2 billion health-aid deal stalled because the proposed agreement included data sharing that would violate citizens’ privacy rights and was conditional on first agreeing to preferential access to mineral resources, the nation’s foreign minister said.
Doctors care for patients in a clinic in Lusaka, Zambia.
Fitch Ratings cut its assessment of Mozambique’s foreign-currency debt by one notch to CC, saying a restructuring of the nation’s sole dollar bond had become probable.
Fitch Ratings cut its assessment of Mozambique’s foreign-currency debt by one notch to CC, saying a restructuring of the nation’s sole dollar bond had become probable.
Pedestrians walk past parked vehicles outside a Total SA gas station in Maputo, Mozambique, on Thursday, March 23, 2017. Mozambique missed a $119 million payment due Tuesday on a loan Credit Suisse Group AG arranged, the second debt repayment the government failed to make in as many months.
Zimbabwe’s currency is undervalued by almost half, the governor of the central bank said, pointing to the foreign reserves and gold that back the unit.
Zimbabwe’s currency is undervalued by almost half, the governor of the central bank said, pointing to the foreign reserves and gold that back the unit.
A twenty ZiG banknote Photographer: Cynthia R Matonhodze/Bloomberg
A group of Ethiopia’s bondholders formally began a process to sue the government over a defaulted $1 billion debt, according to people familiar with the matter.
A group of Ethiopia’s bondholders formally began a process to sue the government over a defaulted $1 billion debt, according to people familiar with the matter.
A group of Ethiopia’s bondholders formally began a process to sue the government over a defaulted $1 billion debt, according to people familiar with the matter.
A group of Ethiopia’s bondholders formally began a process to sue the government over a defaulted $1 billion debt, according to people familiar with the matter.
South African Reserve Bank Governor Lesetja Kganyago said the Iran war’s impact on oil prices has validated wariness over inflation, without giving a clear signal on what that means for interest rates.
South African Reserve Bank Governor Lesetja Kganyago said the Iran war’s impact on oil prices has validated wariness over inflation, without giving a clear signal on what that means for interest rates.
Lesetja Kganyago, governor of South Africa’s Reserve Bank, at the Semafor World Economy Summit during the International Monetary Fund and World Bank Spring meetings in Washington, DC, US, on Thursday, April 16
Spillovers from the Iran war are sending more African governments to request financial assistance from the International Monetary Fund, as they’re facing rising inflationary and fiscal strains.
Spillovers from the Iran war are sending more African governments to request financial assistance from the International Monetary Fund, as they’re facing rising inflationary and fiscal strains.
South Africa’s central bank governor referenced an 1879 battle in the Anglo-Zulu war in his views on how to tackle the coming wave on inflation from the Iran war shocks, implying a preference to raise interest rates sooner rather than later.
South Africa’s central bank governor referenced an 1879 battle in the Anglo-Zulu war in his views on how to tackle the coming wave on inflation from the Iran war shocks, implying a preference to raise interest rates sooner rather than later.
Lesetja Kganyago at the IMF and World Bank Spring meetings in Washington, DC, on April 15.
Zambia will forgo about $200 million after suspending fuel taxes for three months to shield consumers from an oil-price surge driven by the war with Iran, and plans to seek IMF and World Bank support, Finance Minister Situmbeko Musokotwane said.
Zambia will forgo about $200 million after suspending fuel taxes for three months to shield consumers from an oil-price surge driven by the war with Iran, and plans to seek IMF and World Bank support, Finance Minister Situmbeko Musokotwane said.
South African Finance Minister Enoch Godongwana has not been accredited to attend the upcoming meeting of the Group of 20 finance chiefs in Washington, deepening a rift with the US.
South African Finance Minister Enoch Godongwana has not been accredited to attend the upcoming meeting of the Group of 20 finance chiefs in Washington, deepening a rift with the US.
Enoch Godongwana, South Africa's finance minister, during a Bloomberg Television interview in London, UK, on Thursday, March 5, 2026. "South Africa is a price taker" when it comes to petroleum imports, Godongwana said.
The Iran war will fan inflation and cost Africa vital economic growth, the World Bank warned, with oil-importing nations including Kenya and Ethiopia potentially at the greatest risk.
The Iran war will fan inflation and cost Africa vital economic growth, the World Bank warned, with oil-importing nations including Kenya and Ethiopia potentially at the greatest risk.
A worker pushes a cart past market shacks in Nairobi, Kenya.
A railway planned to connect Zambia’s copper mines to global markets via the Lobito port in neighboring Angola will cost as much as $5 billion, with construction set to start his year, according to an environmental study for the project.
A railway planned to connect Zambia’s copper mines to global markets via the Lobito port in neighboring Angola will cost as much as $5 billion, with construction set to start his year, according to an environmental study for the project.
Bundles of copper on rail wagons in Kapiri Mposhi, Zambia.
Mozambique will continue to work with the International Monetary Fund on the framework for a new program after repaying $700 million to the fund early and in full, the finance ministry said.
Mozambique will continue to work with the International Monetary Fund on the framework for a new program after repaying $700 million to the fund early and in full, the finance ministry said.
Chinese mining, shipping and logistics companies are joining a $1.24 billion project to revamp a railway linking Zambia’s copper region to a port on the Indian ocean.
Chinese mining, shipping and logistics companies are joining a $1.24 billion project to revamp a railway linking Zambia’s copper region to a port on the Indian ocean.
A speech by Chinese President Ji Xinping broadcast at the Tanzania-Zambia Railway Authority (TAZARA) memorial park in Lusaka, Zambia, on Thursday, Sept. 21, 2023. For over a decade, China poured more than $120 billion of government-backed loans through its Belt and Road Initiative to build hydropower plants, roads and rail lines across the continent — as well as unparalleled influence.
Mozambique has repaid about $700 million to the International Monetary Fund ahead of schedule and in full, in a surprise move that raises questions about its motivations and the status of talks over a potential new program with the lender.
Mozambique has repaid about $700 million to the International Monetary Fund ahead of schedule and in full, in a surprise move that raises questions about its motivations and the status of talks over a potential new program with the lender.
Mozambique repaid about $700 million to the International Monetary Fund ahead of schedule and in full — a surprise move that raised questions about its motivations and the status of talks over a potential new program with the lender.
Mozambique repaid about $700 million to the International Monetary Fund ahead of schedule and in full — a surprise move that raised questions about its motivations and the status of talks over a potential new program with the lender.
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