Author: Marketforces Africa

The sustained depreciation of the Nigerian local currency, the naira, has worsened the Central Bank of Nigeria

Nigeria’s US dollar bond was faced with selloffs across tenors amidst uncertainties in the econom..

S&P Global Ratings on Friday said it downgraded Egypt to B-/B with a stable outlook. The agency previously had a B/B rating on Egypt, and in April had downgraded its outlook on the nation to negative.

Morocco’s Inflation Slows, Govt Plans $62bn Budget Morocco’s annual inflation rate eased slightly to 4.9% in September 2023 from 5% in the prior month, primarily attributed to ongoing alleviation in food inflation, which reached a 16-month-low of 10.1% from 10.6% in August. This comes along with declines in transportation costs to 0.5% from 1.8%. There was also a deceleration in prices of clothing & footwear which dropped to 2.9% from 3%. Also, furnishings, household equipment & routine household maintenance declined to 2.7% from 3%. In addition, restaurants & hotels inflation slowed down by 50 basis points in the month to…

The Rural Electrification Agency (REA), says it is supporting 250,000 households with electric mobility, mini-grids, and home systems to boost electricity in the country in 2024.  

The Chartered Institute of Bankers of Nigeria (CIBN) has called on banking professionals and leaders to chart a course that will leverage the vast potential inherent in Nigeria’s economy.

Oil Estimated to Hit $100 on Israel-Hamas Conflict Amidst pressures in the Middle East, analysts have started projecting that global oil prices would test $100 per barrel due to lingering conflicts between Israel and Hamas. There is the general expectation that the war would spread to other countries in the region if Israel continues to inflict pain on civilians. Brent crude price settled above $92 per barrel on Friday, advancing for the second straight week, as the global oil market faces supply concerns amid the Israel-Hamas conflict that may spread in the Middle East. For the most part of the…

Borno State Govt Bans Street Begging, Loitering The Borno Government has banned street begging and loitering in Maiduguri city and environs. This is contained in a public notice issued by the state Commissioner for Information and Strategy, Prof. Usman Tar, on Sunday in Maiduguri. Tar said street begging and aimless loitering were not part of the culture of Borno people. “In Borno State, street begging and aimless loitering are not in our character. We are dignified people. “This is to inform members of the public that the Borno State Government has placed a strict ban on all street begging, loitering…

The Federal Controller of Works in Lagos, Mrs Olukorede Kesha, on Sunday, expressed satisfaction with repairs done on the Third Mainland Bridge, assuring motorists of smooth

The House of Representatives has resolved to introduce legislative instruments to halt crude oil theft, which led to loss of over one billion dollars in revenue. Rep. Benjamin Kalu, Deputy Speaker, House of Representatives said this