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African News
15,000 Ethiopians willingly return free money gotten from Commercial Bank glitch
15,000 Ethiopians, mostly youths have returned the money they withdrew from Ethiopia’s largest commercial bank following a system glitch that allowed customers to withdraw more money than they had in their bank accounts.…
Togo adopts new constitution to move from presidential system to parliamentary govt
Togolese lawmakers adopted a new constitution on Monday, moving the country from a presidential to a parliamentary system and giving parliament the power to elect the president of the small West African country. The…
Meet Senegal’s youngest President-elect: Bassirou Diomaye Faye
Senegal has just elected its youngest president -Bassirou Diomaye Faye who was the opposition leader that led the race in Senegal’s presidential election. Faye will be taking over as the country’s fifth president from…
Ruling coalition’s candidate, Ba congratulates opposition Faye in Senegal presidential election
Senegal’s former Prime Minister Amadou Ba has congratulated rival opposition candidate Bassirou Diomaye Faye for winning the presidential election. Results trickling in since polls closed on Sunday evening in the…
44-Year-Old Opposition Candidate Leading In Senegal’s Presidential Election
The opposition candidate, Bassirou Diomaye Faye, is leading in the early results of Senegal’s presidential election, which has spurred his followers to troop out in celebration on the streets of the capital, Dakar.…
Communities rejoice as Niger Republic opens land border with Nigeria
One week after the authorities of Nigeria Customs Service, following the directive of the Presidency, opened the Illela land border between Nigeria and Niger Republic, the government of Niger Republic on Friday opened…
South Africa’s consumer inflation rises to 5.6%, increases for the second time in a row
South Africa’s consumer inflation increased for the second time in a row in February, inching closer to the Central Bank’s upper target. Economists in the country stated this could imply longer waits for rate cuts. …
Egypt allocates $2.6bn for bread subsidies in 2024/2025 budget
Egypt will allocate $2.66bn for bread subsidies in its 2024/2025 Budget and $3.13 billion in petroleum products subsidies according to a statement by Mohamed Mait, the country’s Finance minister. According to Reuters,…
Nigerian company,Paras Energy sets up solar plant in Chad
Paras Energy and Natural Resources Development Limited, one of the leading power solutions providers in Nigeria recently developed a rooftop based Solar PV Plant at Moundou, Republic of Chad for Solen Renewable…
Why Ghanaian President Won’t Act On Anti-LGBTQ Bill Passed By Parliament Yet –Presidency
A senior presidency official in Ghana has said the anti-LGBTQ bill passed by parliament in February will not be transmitted to President Akufo-Addo for assent until…
Ethiopia’s largest Commercial Bank loses millions as technical glitch allows excessive withdrawals
The largest commercial bank in Ethiopia, Commercial Bank of Ethiopia (CBE) recently lost millions of dollars when a technical glitch in its system allowed customers to withdraw more money than they had in their accounts.…
Niger breaks off military cooperation with US
Niger’s government announced on Saturday that it was breaking off “with immediate effect” its military cooperation agreement with the United States. The declaration came just a day after a senior US delegation left Niger,…
Ghana High Commissioner to Nigeria is dead
Ghana High Commissioner to Nigeria, Ambassador Rawhide Bawa, has been confirmed dead. He was 65 years old. Politics Nigeria understands that Bawa died in Abuja, Nigeria’s capital city, on Thursday. His remains have…
Paris Club Creditors cancels 99% of Somalia’s debt
The Paris Club of Creditors have reached an agreement with the government of Somalia that will result in the cancellation of up to $2 billion of the country’s debt- approximately 99% of the debt owed by the country to the…
Ghana plays for time on debt restructuring as bondholders demand value recovery
Ghana risks long-term damage to its credibility as a borrower as the progress of restructuring discussions with foreign bondholders shows a government determined to play for…
Niger Republic Junta Ready To Release Bazoum
The junta in Niger Republic is in a serious dilemma even as it has agreed to release the ousted president of the country, Mohamed Bazoum, and his wife, Khadija. Multiple sources in Nigeria and the neighbouring Niger,…
Adoption of single currency by ECOWAS suffers setback
The move to ensure that member states of the Economic Community of West African States (ECOWAS) adopt a common currency has suffered a major setback as none of the West African Monetary Zone (WAMZ) member states has met the…
Ex-Côte d’Ivoire president Gbagbo to contest 2025 election – Report
Laurent Gbagbo, former president of Ivory Coast, has reportedly agreed to contest the country’s presidential election in 2025. The election is expected to be held in October 2025. Katinan Kone, spokesperson of the …
Rwandan President Kagame wins party primaries in push for fourth term in office
In a push for a fourth term in office as Rwandan president, Paul Kagame emerged as the presidential candidate of the ruling party, Patriotic Front Congress, ahead of the July election in the East African country. Mr…
ECOWAS Engaging Third Parties To Resolve Dispute With Mali, Niger, Burkina Faso – Official
The Economic Community of West African States (ECOWAS) has said it is involving third parties to resolve its differences with three “important members” – Mali, Burkina-Faso and Niger – who have indicated their interest in…
Egypt secures over $40 billion deals from UAE and IMF in 10days
Egypt has been able to secure over $40 billion in investment deals from the United Arab Emirates (UAE) and International Monetary Fund (IMF) in just 10days after floating its currency and seeing it nosedive by 38%. Late…
Egypt learns how not to float a currency from Nigeria’s mistakes
Nigeria may have put the cart before the horse with its floatation of the naira, but Egypt has made no such mistake. It was hardly a surprise when Egypt devalued its currency on Wednesday after over a year of a flawed peg to the dollar…
Egypt to get $8 billion IMF bailout after removing currency controls
Egypt has successfully negotiated an expansion of its International Monetary Fund’s (IMF) bailout package to $8 billion, following the government’s bold decision to allow the Egyptian pound to plummet to an…
Egypt Devalues Its Pound, Currency Falls To Record Low Value Against US Dollars Within Hours
Egypt devalued its currency for the fourth time since early 2022, following a massive interest-rate hike by the central bank. The pound plunged about 26.5% to a record low of 42 per dollar as of 10:35 am in Cairo on…