Nigeria’s Central Bank identifies $2.4 billion irregularities in overdue forex transactions amid a naira crisis; a Deloitte audit exposes issues.
Ikeoluwa Ogungbangbe
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Namibia’s President Hage Geingob, a key figure in its history, dies at 82 after battling cancer. His legacy resonates.
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South Africa’s Vodacom reports a remarkable 29.7% surge in Q3 service revenue, primarily driven by its strategic expansion into Egypt.
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MultiChoice and NBCUniversal are set to invest a substantial $177 million in Showmax, aiming to compete with international streaming giants in Africa’s burgeoning market.
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Burkina Faso contemplates leaving the currency union, while Mali reaffirms its commitment. Economic stability hangs in the balance as West African nations chart contrasting paths.
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Kenya’s President Ruto announces plans for a Eurobond buyback, aiming to strengthen the country’s financial position amid currency and revenue challenges.
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Economy
Tunisia Successfully Clears All 2023 Debts Amid Financial Strain, Prepares for Heavier Repayment in 2024
Tunisia’s Finance Minister confirms full repayment of 2023 domestic and external debts, outlines challenges posed by increased foreign debt for 2024.
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Politics
Senegal’s Presidential Race Excludes Opposition Leader Sonko and Stirs Political Uncertainty
The exclusion of Ousmane Sonko and Karim Wade from Senegal’s presidential race raises concerns about political stability and fairness.
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Amid Eurobond payment concerns, Kenya secures $210 million in loans from TDB, offering financial relief. Finance Minister provides insights.
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Currency traders anticipate changes in African exchange rates, with Ghana’s cedi expected to strengthen, the Kenyan and Nigerian currencies to weaken, and Uganda’s shilling to remain stable in the coming week.