Tag: Economy
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🇳🇬 Nigeria: Tinubu Consolidates Power Amid Rising Internal Frictions
After two years of painful economic reforms, Nigerian President Bola Tinubu is steadily preparing for the 2027 elections. His party, the All Progressives Congress (APC), retains dominance in parliament and most states. In Lagos and Abuja, “door-to-door” campaign banners already promote the president’s re-election bid. The July death of former President Muhammadu Buhari and the…
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🇬🇭 Growing Ghana’s Creative Industry: Learning from the Nigerian Playbook
Over the past decade, Nigeria’s creative industry has evolved into a global powerhouse, especially in the music and film sectors. From Grammy-nominated Afrobeats stars to Nollywood films on global streaming platforms, Nigeria’s cultural exports have captivated the world. Their success is no accident—it is the result of a deliberate, structured approach to building a creative…
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Ghana ranks second most indebted African nation to IMF
Ghana has been identified as the second most indebted African nation to the International Monetary Fund (IMF) in terms of concessional lending. According to the IMF’s Quarterly Finances, the country’s outstanding loans to the institution reached $2.914 billion as of October 31, 2024, representing 17% of total African borrowings from the IMF. Only the Democratic…
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Ghana Prepares for 2024 Elections Amid Economic Uncertainty
Ghana, often considered a model of democracy in West Africa, is gearing up for its presidential elections in December 2024. The political environment is charged, as economic hardships and widespread dissatisfaction with traditional parties dominate the discourse. Key Candidates in the Race Economic Landscape Under President Nana Akufo-Addo, Ghana has faced a series of economic…
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Zambia eyes economic rebound after historic drought, targeting growth and deficit reduction in 2025
Finance Minister Situmbeko Musokotwane outlined the government’s plan in his budget speech on Friday, projecting a growth rate of 6.6% in 2025, compared to a forecasted 2.3% growth in 2024. The economic recovery is expected to be driven by improved performance in the mining and agricultural sectors. The drought induced by the El Niño climate…
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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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AlJazeera: The New World Economic Order?
Economic integration and globalisation, the free flow of trade, with the United States at the helm: that is the economic order the world has known for decades. Today, the disintegration of the rules-based old world order is evident. Countries are becoming more inward-looking, regulatory fences have been erected, the World Trade Organization is in limbo,…
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IMF review mission to Zambia tentatively scheduled for mid-April
Zambia is planning to start rationing electricity next week as a devastating drought that has been declared a national disaster affects hydropower generation, as well as food production NEW YORK – The International Monetary Fund will assess the economic impact of a devastating drought on Zambia in a visit tentatively scheduled for mid-April, the fund…
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