Author: Olu Anisere

Rwanda Producer Inflation at 3-Month Low Producer prices in Rwanda climbed 2.4% year-on-year in April 2025, easing from a 4.2% rise in the previous month and marking the fifth consecutive month of producer inflation. The latest reading was also the softest producer inflation rate since January, with manufacturing prices rising more slowly (2.9% vs. 5.1% in March), while mining and quarrying remained steady at 1.1%. Meanwhile, prices in electricity, gas, steam & air conditioning supply activities remained unchanged. On a monthly basis, producer prices fell 1.9% in April, following a 0.6% decline in March, marking the third consecutive monthly decrease…

Mozambique Cuts Interest Rate by 75 bps, Sees Steady Inflation Mozambique’s central bank cut its main interest rate on Friday for the ninth policy meeting in a row, and by a hefty 75 basis points, saying it expected inflation to remain in single digits over the medium term despite lingering domestic risks. The Bank of Mozambique slashed its main lending rate by 75 basis points to 11.00% from 11.75%, bigger than the 50 bps cut at its last meeting in March. “This measure is primarily driven by the consolidation of the single-digit inflation outlook over the medium term, partially supported…

Tunisia’s Central Bank Keeps Key Interest Rate at 7.5% Tunisia’s central bank said on Friday it has kept its benchmark interest rate unchanged at 7.5%, after cutting it from 8% in March for the first time in five years amid intense pressure from President Kais Saied. Tunisia’s inflation rate fell to 5.9% in March and then to 5.6% in April, reaching its lowest level in five years. The government projects inflation will average 6.2% this year, down from 7% in 2024. The current account deficit, a key economic indicator, widened to 3.26 billion dinars ($1.10 billion) at 1.8%, the bank…

Development Bank of Nigeria Disburses N1trn to MSMEs The Development Bank of Nigeria (DBN) has said that it disbursed over N1 trillion to Micro, Small, and Medium Enterprises (MSMEs) across the country and created more than 1.2 million jobs. The managing director of the bank, Dr Tony Okpanachi, disclosed this in an interview with the news agency on the sidelines of the African Development Bank (AfDB) Annual Meetings in Abidjan. Okpanachi described DBN’s progress as a major milestone in its mission to enhance access to finance for Nigeria’s small businesses. “We are proud to report that at the end of…

Kano Targets N200bn IGR via NIN-Based Tax Reform The Kano State Board of Internal Revenue (KIRS) is targeting an Internally Generated Revenue (IGR) of N200 billion through a tax reform that leverages the National Identification Number (NIN). The executive chairman of KIRS, Dr Zaid Abubakar, made this known while addressing stakeholders at a recognition ceremony for individuals and organisations whose efforts have supported the agency’s achievements despite prevailing challenges. According to him, KIRS has made significant strides since 2024 in the areas of tax compliance, revenue generation, and efficient service delivery, due to sustained reforms and support from relevant partners.…

Oil Rises as US Court Blocks Trump’s Global Tariffs Oil prices rose as investors in the global commodity market reacted to a US court decision to block President Donald Trump from imposing sweeping global tariffs on imports. International benchmark Brent crude increased by around 1.62%, trading at $65.36 per barrel. Also. The US benchmark West Texas Intermediate (WTI) rose by about 1.69%, settling at $62.69 per barrel, compared to $61.65 in the prior session. The US Court of International Trade ruled Wednesday that President Donald Trump overstepped his authority and blocked him from imposing sweeping global tariffs on imports, according…

Buy Side Investors Drive Intraday Gain in Equities Market Buy side activities from stockbrokers and other traders boost equities market performance on Wednesday. Stockbrokers said Access Holdings, MTN Nigeria, and GTCO are among the top stocks driving the intraday rally in the equities segment of the Nigerian Exchange (NGX) on Wednesday. The all-share index has inched higher as investors are taking positions in growth stocks. The bargain hunting has pushed key performance indicators higher again after hitting a historic high in the Nigerian bourse yesterday. Stockbrokers said they expect the local bourse to close in green, having seen huge intraday…

We’ll Continue Borrowing Within Sustainable Limits- FG The Federal Government says it will continue to borrow within manageable and sustainable limits in accordance with the Debt Management Office (DMO) debt sustainability framework. This is contained in a statement by the Director, Information and Public Relations in the Ministry of Finance, Mr Mohammed Manga, in Abuja on Wednesday. The President Bola Tinubu recently requested the approval of the 2024 – 2026 external borrowing rolling plan from the National Assembly. Tinubu has requested the National Assembly’s approval to secure external loans of 21.5 million dollars and 15 billion Yuan, along with a…

Ecobank named Best Bank in Africa 2025 in Global Finance Awards Ecobank, the leading private pan-African financial services group, which has unrivaled African expertise, is delighted to have been named Best Bank in Africa 2025 in Global Finance’s World’s Best Banks 2025 Awards. The awards also selected Ecobank Gambia and Ecobank Togo as the best banks of 2025 in their respective countries. Jeremy Awori, Chief Executive Officer, Ecobank Group, said, “Driving intra-African trade is an important focus of our Growth, Transformation, and Returns strategy, and we are continuously leveraging technology and partnerships to further enhance our continental digital payments platform…

Market Index Retreats as Investors React to Interest Rate Decision The Nigerian Exchange (NGX) All-Share Index, or market index, retreated as equities investors exited positions in reaction to the decision of the central bank to keep the interest rate unchanged. After riding a bullish wave for four consecutive weeks, the Nigerian equity market reversed course, closing the week in the red as investors reassessed their positions, stockbrokers said. NGX All-Share Index declined by 0.62% week-on-week, settling at 109,028.62 points, as sell-offs across the banking and energy sectors weighed heavily on the overall market performance. The local bourse nosedived on the…