SARS, The South African Revenue Service has announced that unions have suspended their strike at the tax body and have reported for duty as the wage negotiations process continues. SARS …
Business and Economy
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BusinessBusiness and EconomySouthern Africa
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AfricaAFRICA NEWSBusiness and EconomyGhanaNewsWestern Africa
Fitch downgrades Ghana to ‘CCC’ days after poor S&P grading
Fitch, a global rating agency, has downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ from ‘B-‘. The downgrade, it said, reflected the deterioration of Ghana’s public finances, …
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AfricaAFRICA NEWSBusinessBusiness and EconomyNewsNigeriaTechnologyWestern Africa
Nigeria spends $2.35bn on phone importation
Nigeria spent $2.35bn on telephone importation in three years, according to data from the International Trade Centre. The nation spent $807.95m on importation of phone sets in 2019, $765.57m in …
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AfricaAFRICA NEWSBusiness and EconomyGhanaNewsWestern Africa
Ghana’s inflation rises to 31.7% in July
Inflation in Ghana accelerated at a faster pace than expected in July as a slump in the value of the cedi raised the cost of imported goods like cooking oil …
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AfricaAFRICA NEWSBusiness and EconomyGhanaNewsWestern Africa
S&P Global affirms Ghana’s rating CCC+, Outlook Negative
Standard and Poor’s(S&P), Global Ratings, has revised Ghana’s rating from B-/B to CCC+/C, putting the country’s creditworthiness into junk status. It also reviewed the country’s economic outlook to negative, reflecting …
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AfricaBusiness and EconomyGlobal NewsNewsNigeriaWestern Africa
Nigeria, three others top World Bank debtors’ list
Rising debt has pushed Nigeria up the World Bank’s top 10 International Development Association borrowers’ list. The World Bank Fiscal Year 2021 audited financial statements, known as the IDA financial …
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AfricaBusiness and EconomyNewsNigeriaOil & GasWestern Africa
Nigeria loses N891bn to gas flaring in 18 months
Nigeria lost N891bn to gas flaring in 18 months. This was disclosed in the latest data released by the Nigerian Oil Spill Monitor, an arm of the Nigerian Oil Spill …
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Tetouan’s Saniat R’mel airport tops the list of Moroccan airports with a strong post-pandemic recovery of passenger traffic. Traffic at the airport bounced back more than fourfold in the first …
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Business and EconomyGlobal NewsNews
Bank of England raises interest rate to 1.75%, biggest hike in 27 years
The Bank of England, on Thursday, raised its interest rates from 1.25 percent to 1.75 percent, the biggest hike in 27 years. According to the central bank of the United Kingdom, the decision …
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Trade between Morocco and Israel saw an increase of 1% in the first half of 2022 compared to the same period last year. New data from the Abraham Accords Peace …