Kenya to host PAPSS, an African cross-border payment infrastructure
PAPSS allows African traders to settle deals using their respective national currencies.
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.
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.
South Africa on track to overtake Nigeria as Africa’s largest economy in 2024 — IMF
Tough economic measures have seen Nigeria’s economy shrink in the short term, but growth is foreseeable in the medium term.
Ghana records economic growth upon adoption of IMF-supported reform program
The BoG Governor said the country’s economy grew by 3.2% in the second quarter, surpassing the 1.5% growth target set in the IMF program.