Yuan weakens to 7.1498 against dollar
Beijing, June 13, 2023: The central parity rate of the Chinese currency renminbi, or the yuan, weakened 286 pips to...
Foreign
Uganda’s first quarter foreign currency lending slows
Uganda is experiencing a lower uptake of loans in foreign currency in tandem with the ongoing fluctuation in exchange rates...
Ethiopia banking on spending and growth
Ethiopia’s overall spending is expected to rise slightly and economic growth to accelerate in the next fiscal year starting in...
Chinese firm wins tender to build head office for African court
Chinese firm CRJE (East Africa) Ltd has been awarded the contract to build headquarters for the African Court on Human...
Cross-border traders protest new barriers to trade in food in EAC
Trucks loaded with maize from Tanzania were barred from crossing into Kenya after the Tanzanian authorities stopped issuing maize exportation...
BRICS Business Council engages Nigeria to expand opportunities in Africa
The South African BRICS Business Council says it will be engaging Nigerian businesses and the private sector players, to expand...
World Bank Group pledges more support for Safaricom Ethiopia
The World Bank Group’s private investment arm and guarantee agency have pledged more support for the first private telecoms operator...
Chinese Yuan strengthens to 7.1280 against dollar
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 165 pips to 7.1115 against the dollar...
Global economy in ‘precarious position’, World Bank warns
Washington, June 7, 2023: High interest rates and the Russian war in Ukraine continue to significantly slow global economic growth,...
World Bank pins poverty in Nigeria
The World Bank has insisted on its economic growth (Gross Domestic Product, GDP) forecast of 2.8% for Nigeria in 2023,...
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