Nigeria's Central Bank Raises Interest Rate to 27.5% to Combat Inflation
Nigeria's Central Bank increases benchmark interest rate by 25 basis points to 27.5% to address rising inflation, with implications for banks and the economy.
Finance
African Nations Show Fiscal Restraint: Top 10 Countries with Lowest IMF Debt in Q4 2024
Discover the top 10 African countries with the lowest debt to the International Monetary Fund (IMF) in Q4 2024, showcasing their commitment to fiscal responsibility and economic autonomy.
Ghana's Economy Sees 6-Year High in GDP Growth Rate, Boosted by IMF Loan
Ghana's GDP growth rate hits a 6-year high, reaching 7.2% in Q3 2024, following a $3 billion IMF loan to help the country recover from economic crisis.
Ghana's President-Elect John Mahama to Review $3 Billion IMF Loan
Ghana's president-elect John Mahama plans to review the $3 billion IMF loan secured by the current administration, aiming to renegotiate terms without abandoning the program.
Hackers Breach Bank of Uganda, Steal $17 Million in Latest Cyber Heist
Offshore hackers, known as 'Waste,' breach Bank of Uganda's IT systems, stealing $16.8 million, with a portion transferred to Japan, highlighting Africa's cybersecurity vulnerabilities.
IMF Raises Red Flag on Kenya's $1.5 Billion Loan from UAE, Citing Debt Distress Risks
The International Monetary Fund warns Kenya against taking a $1.5 billion loan from the UAE, citing foreign exchange risks and debt distress concerns, as the East African country's debt to the IMF grows.
Kenyan Banks Face Uncertainty as Proposed Law Aims to Raise Capital Requirements
A new amendment bill in Kenya seeks to increase core capital requirements for banks, potentially forcing 24 banks to close, while Amazon develops a new AI-powered Alexa and Nigerian finance employees express salary dissatisfaction.
Kenyan Banks to Lower Lending Rates Following Central Bank Pressure
Kenyan commercial banks will reduce lending rates starting December 2024, following the Central Bank of Kenya's recent benchmark rate cut and pressure to align lending rates with monetary policy changes.
Nigerian Finance Professionals Stuck in Low-Paying Jobs Despite Dissatisfaction
A recent report reveals that 56% of finance professionals in Nigeria are dissatisfied with their jobs, citing low pay and stagnant salaries despite years of experience.
