Category: Pan African Banking
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🇪🇬 Egypt’s IMF Deal May be Reviewed Due to Economic Pressure, Sisi Says
Egypt’s president suggested its International Monetary Fund program might need to be reviewed if economic pressures place an intolerable burden on the country’s more than 106 million people. The $8 billion IMF deal reached earlier this year is being implemented under “extremely difficult regional, international and global circumstances,” President Abdel-Fattah El-Sisi said Sunday in comments…
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African Stream: Russia’s Latest Covert Influence Pipeline Targeting Africa and the U.S.
On September 13, 2024 U.S. Secretary of State Anthony Blinken gave a press briefing about efforts to counter covert Russian government influence operations. He stated that RT, the Russian state media outlet previously called Russia Today, engages in “covert information and influence operations and military procurement.” Blinken mentioned several operations, including one targeting Moldova, another based in…
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The Third African Monetary and Economic Sovereignty Conference
The Third African Monetary and Economic Sovereignty Conference is currently taking place in Addis Ababa, bringing together academics, policymakers, and thought leaders to discuss pathways to economic sovereignty for the continent. In this episode, we explore the critical themes of de-dollarization and de-globalization, examining how these trends present both opportunities and threats for Africa. We…
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Zimbabwe government to pay civil servants in US dollars due to devaluation of the ZiG
The government of Zimbabwe, in an attempt to mitigate the impact of the recent devaluation of the ZiG, has announced that salary raises and an annual bonus for civil servants in the country will be paid in US dollars. According to the Minister of Public Service, Labour, and Social Welfare, July Moyo, the move by…
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The Rise of America’s Black Elite: A New Era of Wealth and Influence
The Rise of America’s Black Elite: A New Era of Wealth and Influence While African Americans have historically been disproportionately affected by poverty in the United States, a significant shift is taking place. Today, America is home to the largest concentration of wealthy and highly successful Black individuals in the world. In fact, 1 in…
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Global Debt Hits Record High in 2024, Reaching $312 Trillion
According to the Institute of International Finance, global debt levels surged by $2.1 trillion in the first half of 2024, setting a new record of $312 trillion by the end of Q2. The rise was primarily attributed to increased borrowing by the US and China. A significant portion of this borrowing is linked to the…
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Tanzania orders 20% of gold exports to its central bank for reserve diversification
To bolster its foreign reserves and combat the depreciating shilling, the Bank of Tanzania began purchasing gold from local traders and miners last fiscal year, acquiring 418 kg. The bank aims to purchase 6 tonnes of gold in the current fiscal year. The Tanzania’s Mining Commission announced that a new mining law, effective October 1,…
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Ghana’s economy grows by 6.9% in Q2 2024, fastest in five years
Ghana’s economy rebounded from the worst economic crisis in a generation, driven by expansion in several key sectors, according to the country’s statistics agency. The country’s industrial sector demonstrated 9.3% growth year-on-year, driven by the expansion in mining and quarrying, while the gold sector expanded for the third consecutive quarter, growing 23.6% year-on-year in the…
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Poland to Introduce New Minimum Wage for 2025: 30.50 złoty per Hour ($7.90)
Poland is set to raise its minimum wage to 30.50 złoty per hour (approximately $7.90) starting in 2025, continuing its trend of consistent wage increases over recent years. This move comes as part of the government’s ongoing efforts to improve the standard of living for workers and ensure that wages keep pace with inflation and…
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