South African regulators have moved to deregister the local arm of Moody’s Investors Service, marking a shift in how banks will use credit ratings in one of Africa’s most developed financial markets. Moody’s local unit in South Africa has been deregistered after voluntarily giving up its licence. Banks can still use its ratings for regulatory…
Nigeria could face tighter scrutiny over its security operations after U.S. lawmakers advanced a funding bill that places new conditions on American assistance to the country. U.S. lawmakers have moved forward with a bill that makes American security assistance to Nigeria conditional. The proposed legislation requires Nigeria to meet benchmarks such as responding to violence,…
Trade between Nigeria and Malaysia has reached approximately $1.21bn over the past five years, driven largely by a sharp rise in imports from Southeast Asia, according to the Nigeria Customs Service (NCS). Nigeria and Malaysia recorded approximately $1.21bn in bilateral trade over five years, according to the Nigeria Customs Service. Imports from Malaysia rose significantly,…
Within a global economic landscape increasingly characterized by fragmentation, geopolitical tensions, and shifting trade alliances, maintaining currency stability has emerged as a fundamental pillar of economic resilience for African countries. Currency stability is crucial for economic resilience in African countries amid global fragmentation and geopolitical tensions. Depreciating currencies worsen the impacts of external shocks like…
Ghana has said it is seeking investors to help establish a new national airline, inviting “potential strategic partners” to engage with the government as it moves to revive a flag carrier more than two decades after Ghana Airways’ collapse. Ghana is seeking investors to help establish a new national airline after over 20 years without…
France has urged its nationals in Mali to leave “as soon as possible” following coordinated attacks over the weekend, including incidents in the capital, Bamako, according to an updated travel advisory. France has advised its nationals in Mali to leave the country as soon as possible due to coordinated attacks and a volatile security situation.…
The president of the Democratic Republic of Congo (DRC), Felix Tshisekedi, recently informed his council of ministers that the country must audit its mining joint ventures to ensure that businesses are complying with national regulations, including the repatriation of export proceeds. President Felix Tshisekedi has ordered an audit of the DRC’s mining joint ventures to…
China has formally handed over a newly completed $56.5 million headquarters complex to the Economic Community of West African States (ECOWAS) in Abuja, marking one of Beijing’s most prominent institutional projects in West Africa. China has formally handed over a $56.5 million ECOWAS Headquarters Complex in Abuja, completed in under two years. The project is…
Following a recent announcement from the Democratic Republic of Congo (DRC) about plans to establish a paramilitary unit to defend mining companies, the United States has responded, noting that it currently has no plans to fund the initiative. The Democratic Republic of Congo announced plans to form a paramilitary unit to protect mining companies, in…
