Africa

China pledges $51 billion in funding to Africa for infrastructure, job creation

China will provide Africa with RMB360 billion of financial support in the next three years, including RMB 210 billion in credit lines

China’s lending to Africa rises for the first time in seven years in 2023, reaches $4.61 billion

Between 2000 to 2023, Chinese lenders provided 1,306 loans amounting to $182.28 billion to 49 African governments and 7 regional borrowers

$30 million data centre inaugurated in Congo to catalyze digital economy

The 400-rack capacity facility is expected boost DRC's digital landscape

Ethiopia secures $3.4 billion IMF financing program with $1 billion immediate disbursement

The Ethiopian central bank has floated the birr, a crucial step for securing IMF support and progressing its debt restructuring

World’s population to reach 10.3 billion by 2080 with uneven demographic shifts across regions: Report

Rapid population doubling projected in 9 developing countries by 2054 due to very high growth rates

Public cloud spending projected to reach $675 billion globally by 2024: Report

SaaS spending is forecast to grow 20 percent to reach a total of $247.2 billion in 2024

UAE’s AD Ports secures 20-year agreement to operate, upgrade Angola’s Luanda terminal

AD Ports Group acquires 90 percent stake in joint venture to serve the broader logistics market in Angola

UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation

This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019

Africa’s $824 billion debt burden, loans undermine its economic potential: ADB president

Eurobond debt now accounts for 44 percent of Africa's total debt

Egypt’s SCZONE attracts 128 projects worth over $3 billion, Chinese firms contribute 40 percent

SCZONE inked 14 agreements with major Chinese companies to boost investment

Africa faces $277 billion annual climate adaptation funding shortfall, warns African Development Bank President

Adesina said the devastating African drought demands urgent, collective action to boost support and financing

Egypt to ensure foreign currency availability through maintaining flexible exchange rate

This represents a key condition for Egypt's $8 billion loan program signed with the IMF

Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report

The report predicts an 18.1 percent average annual headline inflation rate

Nigeria strikes gas supply deal with Shell for $3.8 billion methanol facility

Agreement addresses major obstacle to the project's final investment decision

South Africa’s inflation dips to 5.3 percent in March, Reserve Bank to maintain 8.25 percent rates

On a month-on-month basis, consumer inflation was 0.8 percent in March, down from 1.0 percent in February

Egypt’s finance minister prioritizes inflation reduction, job creation in economic reform agenda

Egypt further plans to sell more state assets, which would reduce the state's role in the economy.

Egypt’s Q1 merchandise exports surge 5.3 percent to $9.6 billion

During this period, Türkiye was the top importer of Egyptian merchandise exports, with imports worth $874 million