Somalia joins the East African trade bloc
Although Somalia submitted its application in 2012, it took 11 years to grant its request due to lingering security concerns.
State of fiat
Your fiat money is backed by the issuing government’s “full faith and credit.” What’s that worth these days?
State of fiat informs about the situation of your local currency.
IMF expands Kenya’s financing package to $938 million
The additional funding will strengthen the country’s reserves before its $2 billion Eurobond payment in June.
Kenya to host PAPSS, an African cross-border payment infrastructure
PAPSS allows African traders to settle deals using their respective national currencies.
Kenyan shilling slumps to a record low of 150 to dollar
According to the CBK Governor, Kamau Thugge, the shilling has been overvalued for several years.
IMF reaches staff-level agreement to disburse over $200 million to Senegal
The financial arrangement is set to last 36 months under the Extended Fund Facility and Extended Credit Facility of over $1.5 billion.
Nigeria is expecting $10 billion forex liquidity ‘within weeks,’ finance minister says
The naira has been on a free fall due to foreign exchange shortfalls. The government is looking to fill the gap with the expected inflow.
Nigeria in talks for $1.5 billion World Bank loan — Finance minister
The finance minister expects the loan deal to be finalized soon.