Vice President Yemi Osinbajo has denied Nigeria will issue Eurobonds due to their hefty expenses and instead look for alternative ways to raise funds to support the economy as it battles a looming recession. In a news conference, Osinbajo said, “We are not likely going to explore again the Eurobond market because we are trying…
South African state owned defence company, Denel, has requested for $231 million bail out from the National Treasury over the next three years. Denel manufactures military equipment for South Africa’s armed forces, and has been embroiled in a financial crisis made worse by the ongoing coronavirus pandemic. The firm has struggled to pay salaries of…
South Sudan will change the country’s currency, in a move the government says is aimed at improving its beleaguered economy. Information Minister Michael Makuei Lueth broke the news at a press conference in the capital Juba, following a cabinet meeting that approved the change. “The cabinet has decided that the current currency should be changed….This…
Private sectors activity in Africa’s most industrialized nation, South Africa, declined at a slower rate in the month of September as the government relaxed strict lockdown measures imposed to stem the spread of the novel coronavirus. The IHS Markit Purchasing Managers’ Index (PMI) climbed to 49.4 in September from 45.3 in the previous month, illustrating…