A trader changes dollars with naira at a currency exchange store in Lagos, Nigeria. Reuters/Joe Penney/File Photo By Reuters African countries’ debts with China are a third of what they owe non-Chinese private lenders, while interest rates are just over half, according to a report published on Monday amid a debate about the role of

File – Elon Musk will participate in a meeting with employees of Twitter on Thursday, June 16, 2022, as the billionaire and social media platform continue to try to push forward on their agreed-to $44 billion acquisition. Twitter confirmed on Tuesday that the meeting will take place, but did not provide any other details about

Times Tower, the headquarters of the KRA, in Nairobi By Business Daily Africa Aggressive tax collection and recovery measures by the Kenya Revenue Authority (KRA) raised revenue collection by a fifth in the year to June 2022, the highest ever annual growth margin recorded by the agency. The tax agency said on Thursday that it

Kenya Airways and Ethiopian Airlines planes at Kamuzu International airport in Malawi By Business Daily Africa African airlines are expected to record $4.1 billion (Sh480 billion) loss this year on the back of expensive fuel that is eroding the gains made by a recovering business. Africa Airlines Association (AFRAA) says expensive jet fuel and other

Photo Somali Times/President Recep Tayyip Erdoğan his Somali counterpart Hassan Sheikh Mohamoud By Daily Sabah Somalia is the main example that shows the importance Turkey attaches to the economic development, social peace and stability of the African continent, President Recep Tayyip Erdoğan said Wednesday. Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017 Speaking at

Turkish President Recep Tayyip Erdogan (R) and Italian Prime Minister Mario Draghi (L) attend a bilateral agreements signing ceremony after their meeting at the Presidential Complex in Ankara, Turkiye on July 05, 2022. ( Photo Credit: TUR Presidency/ Murat Cetinmuhurdar ) By Anadolu Agency Türket and Italy are committed to deepening cooperation in the defense

By Business Daily Africa Kenya will finally launch its international financial centre in the capital Nairobi today after years of preparation to attract large foreign firms and boost capital flows. The Kenyan hub is expected to model Nairobi as a financial district in line with existing financial centres in European, Middle East and the Far

By Reuters Turkey’s annual inflation rate jumped to a 24-year high of 78.62% in June, data showed on Monday, just above forecast, driven by the impact of the Ukraine war, soaring commodity prices and a slide in the lira since a December crisis. Inflation has surged since last autumn, when the lira slumped after the

By Reuters Cryptocurrencies are the solution to tackling financial exclusion in the Central African Republic, its President Faustin-Archange Touadera said on Sunday, citing the cost of opening bank accounts. “The alternative to cash is cryptocurrency,” Touadera said at a launch event for crypto initiative Sango hosted by the country, after it became the first African

By Daily Sabah The Somali government has granted operating licenses to Turkish Islamic lender, or participation bank, Ziraat Katılım, becoming the first Turkish international bank to operate in the Horn of African country. After a meeting in the capital Mogadishu, Somalia’s central bank said in a statement that it has granted permission for two international