Reuters Africa Business

LONDON (Reuters) -The closure of the U.S. Agency for International Development earlier this year hit Somalia’s economy and tax revenues, the head of the country’s development bank said on Tuesday. “In Somalia (it) really impacted our GDP,” Hodan Osman, president of the Somali Development and Reconstruction Bank told the Financial Times Africa Summit in London …

USAID cuts had ‘severe impact’ on Somalia’s economy, says development bank chief Read More »

LONDON (Reuters) -Trade talks between South Africa and the United States are “very positive”, and there is hope that the U.S. congress could renew a key free trade agreement with the continent before the end of the year, South Africa’s minister of International Relations and Cooperation said on Tuesday. Minister Ronald Lamola told the FT …

South Africa’s Lamola cites “positive vibes” on AGOA Read More »

By Rachna Uppal DUBAI (Reuters) -The International Monetary Fund, which raised its 2025 growth outlook for the Middle East and North Africa last week, has said that risks for the region are still tilted to the downside, despite a recent improvement in geopolitical tensions. The IMF has lifted its 2025 GDP growth forecast for the …

IMF says risks to Middle East outlook tilted to downside on global uncertainty Read More »

KAMPALA (Reuters) -The World Bank will give Uganda over $2 billion in new financing in the next three financial years to fund economic development, a top ministry of finance official said on Tuesday. The global lender resumed loans to the east African country, a prospective crude oil producer, in June after a near two-year suspension …

Uganda says it will receive over $2 billion in fresh World Bank funding Read More »

CAIRO (Reuters) -Egypt’s economy is forecast to grow 4.6% in the fiscal year to next June as inflation and interest rates continue to fall and a weaker currency boosts exports, a Reuters poll showed on Monday. Growth in gross domestic product is projected to accelerate to 4.9% the following year and to 5.3% in 2027/28, …

Egypt’s economy seen growing 4.6% in 2025/26 as inflation eases Read More »