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Uganda’s central bank hikes interest rate to 8.5 percent to tame...

The Bank of Uganda (BoU) is increasing the interest rate by one percentage point from 7.5 percent to 8.5 percent to contain rising inflation. The...

AfDB approves $93 million loan to bolster Kenya’s economic recovery

The African Development Bank (AfDB) on Tuesday approved a 91.3 million U.S. dollar loan to boost Kenya’s economic recovery efforts. The money will provide funding...

Kenya tourism leaders to potential travelers: Elections won’t be a problem

The current political campaigns and upcoming elections in Kenya are not a problem for the tourism industry and tourism leaders are encouraging both international...

Zimbabwe to sell gold coins to ease U.S. dollar in high...

Zimbabwe’s central bank plans to sell gold coins to the public from July 25 as a store of value to stabilize the nation’s tumbling...

Rihanna’s Fenty Beauty out to prove Africa is a viable market

Rihanna upended the cosmetics market five years ago when she launched a makeup brand for people of color. Now she is bucking conventional wisdom again...

South African company charged with record $1.7 billion bitcoin fraud

The U.S. commodities regulator has filed civil charges against a South African man and his company for operating a fradulent commodity pool worth over...

Kenya surpasses South Africa as continent’s top avocado exporter

Kenya has overtaken South Africa to become Africa’s top exporter of avocados. In Central Kenya, where the majority of the country’s small-scale avocado farmers...

South African consumer confidence plummets in Q2 as spending shrinks

South Africa's consumer confidence plunged to minus 25 in the second quarter of 2022, the lowest in more than three decades — barring 2020...

Zimbabwe hikes interest rate by 200 percent to combat surging inflation

The Reserve Bank of Zimbabwe (RBZ) on Monday announced an increase in the country’s interest rate from 80 percent to 200 percent from July...

African economies see reasons for optimism despite crises

From COVID-19 to the current issue in Ukraine, external crises have put pressure on African economies, but many on the continent see opportunities to...