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IMF says it stopped Kenya’s access to $1.5 bln standby credit

The International Monetary Fund stopped Kenya’s access to a $1.5 billion standby credit facility last June after failing to agree with the government on a reduction of the fiscal deficit, the fund said on...

Singapore to pay bonus to all adult citizens after budget surplus

Adult Singaporeans will now get a one-off "SG Bonus" this year ranging from $100 to $300, depending on their income as the 2017 budget came in with a surplus of almost S$10 billion (US...

Somali traders, government locked in dispute over new tax

A major deadlock between Somali authorities and the business community is threatening to have serious economic implications in a nation overcoming decades of conflict. Traders in Somalia's largest market, Bakara, have boycotted business over what...

Uber suspends operations in Morocco

Uber said on Monday it would suspend operations in Morocco, two years after they began, as the company tries to bring its business into line with local laws. Uber has already halted services in Norway...

Nigeria’s President says unclaimed looted assets to be sold

Nigeria’s President Muhammadu Buhari has said the sales of all unclaimed looted assets which include lands and houses recovered by the government will soon begin. The president said the proceeds will be deposited into government...

Kenya to host regional energy summit in June amid sector’s rapid growth

Kenya's ministry of energy will in mid June host the fifth edition of the East Africa Oil and Gas Summit (EAOGS 2018) in Nairobi amid rising investor appetite in this nascent sector across the...

Kenya launches locally developed virtual currency, Nurucoin

A new locally developed digital currency has hit Kenyan market targeting investors who participate in e-commerce. The new cryptocurrency, dubbed Nurucoin, was developed by the owners of e-commerce platform BlazeBay. The coin is set to sell...

South African rand’s rise fueled by ‘Ramaphosa rally’

  South Africa’s rand extended recent gains early on Friday, a day after Cyril Ramaphosa was sworn in as the country’s president. Many financial analysts hope Ramaphosa's rise to the presidency helps bring an end...

Morocco, Senegal pledge to step up justice cooperation

Moroccan Justice Minister Mohamed Aujjar and his Senegalese counterpart Ismaila Madior Fall vowed Thursday in Rabat to give new impetus to bilateral cooperation in the area of justice. Speaking to the press following talks with...

Tunisia’s central bank head resigns amid pressure

The governor of Tunisia’s central bank has resigned after Prime Minister Youssef Chahed set in motion a process to remove him from his post. Chedli Ayari tendered his resignation Wednesday night, a week after the...