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Economy

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63 stories
African Development Bank to Host Africa Natural Capital Accounting Community of Practice (Africa NCA COP) Secretariat AFRICA

ADDIS ABABA, Ethiopia, September 17, 2025/ — The African Development Bank Group (www.AfDB.org) has officially announced that it will host the Secretariat of the Africa Natural Capital Accounting Community of Practice (Africa NCA-CoP), strengthening its leadership role in integrating natural capital into climate-resilient development strategies across the continent.   As the new host, the Bank Group […]

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3 min read
Towncrier Africa
Afreximbank’s Africa Research and Innovation Hub (ARIH) seeks to unlock US$70 billion annual economic gains for Africa AFRICA

ALGIERS, Algeria, September 16, 2025/ — The African Research and Innovation Hub (ARIH) that was recently launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is seeking to unlock up to US$70 billion annually in economic gains for Africa by boosting innovation-driven sustainable growth. ARIH is expected to catalyse technological sovereignty, intra-African trade, sustainable growth and structural […]

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4 min read
Towncrier Africa
Japan Unveils Bold Vision at TICAD 9: Economic Zone Proposal & AI Training for Africa AFRICA

Yokohama, August 21, 2025 — At the 9th Tokyo International Conference on African Development (TICAD 9), Japanese Prime Minister Shigeru Ishiba unveiled a forward-looking framework to deepen economic ties with Africa. The plan includes the establishment of an “Indian Ocean–Africa Economic Zone,” alongside targeted investments in infrastructure, human capital, and innovation. A New Economic Zone to Unlock Regional […]

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3 min read
Towncrier Africa
South African Business Confidence Rises in July Despite U.S. 30% Tariff Shock ECONOMY

Johannesburg — August 13, 2025 South Africa’s business sentiment rebounded in July, even as the newly imposed 30% U.S. tariff posed a fresh headwind. According to the South African Chamber of Commerce and Industry (SACCI), the Business Confidence Index climbed to 116.7 from 113.2 in June, signaling renewed optimism backed by stronger manufacturing, vehicle sales, and contained inflation  . Turning Up in […]

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4 min read
Towncrier Africa
Afreximbank Extends $75 Million Cross-Currency Swap Facility to The Gambia for Strategic Infrastructure ECONOMY

Abuja, Nigeria – July 24, 2025 – In a landmark deal aimed at strengthening The Gambia’s infrastructure financing, the African Export-Import Bank (Afreximbank) has signed a US$75 million cross-currency swap agreement with the Central Bank of The Gambia (CBG). The five-year facility will support the financing of strategic road projects undertaken by the National Roads […]

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3 min read
Towncrier Africa
PAPSS and Interstellar Unveil Groundbreaking African Currency Marketplace to Eliminate $5 Billion Trade Bottleneck ECONOMY

Abuja, Nigeria – 7 July 2025 The Pan-African Payment and Settlement System (PAPSS) and leading African deep-tech company Interstellar have jointly launched the PAPSS African Currency Marketplace (PACM) — a landmark platform designed to unlock intra-African trade by eliminating the long-standing challenge of currency inconvertibility. The announcement was made during the Afreximbank Annual Meetings (AAM2025) in Abuja, in the presence of […]

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2 min read
Towncrier Africa
AfDB Approves €25.5 Million Trade Finance Package to Boost SMEs and Women-Led Businesses in Mauritania ECONOMY

Nouakchott, Mauritania – 29 June 2025 In a major boost to private sector development in Mauritania, the African Development Bank (AfDB) has approved a comprehensive €25.5 million trade finance facility for Générale de Banque de Mauritanie (GBM). The financing package is designed to expand access to credit for small and medium-sized enterprises (SMEs) and women […]

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3 min read
Towncrier Africa
Afreximbank Appoints Dr. George Elombi as Next President ECONOMY

Abuja, Nigeria, 28 June 2025 – The shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution. He becomes the fourth President to lead the Bank since its establishment in 1993. His appointment was one of the key […]

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4 min read
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