Justice Nwafor
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Articles by Justice Nwafor
Morocco plans nearly $20bn in World Cup-linked infrastructure investment. IMF warns public debt could rise significantly by 2030. RABAT, MOROCCO – Morocco is turning the 2030 World Cup into an industrial strategy, wagering nearly $20 billion on infrastructure to reshape its economy. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better. Create your free account or sign in
Inflation victory? Tunisia’s food-price squeeze deepens
Annual inflation eased to 5.1% in July Meat, fruit and accommodation costs remain sharply higher TUNIS, TUNISIA – Tunisia’s annual inflation slowed to 5.1% in July, but stubborn food and service costs are limiting the relief reaching household budgets. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better. Create your free account or sign in
Why Mozambique’s rate pause exposes deeper economic vulnerabilities today
Mozambique pauses rate cuts amid rising inflation. Debt pressures continue to weigh on economic recovery. MAPUTO, MOZAMBIQUE – Mozambique’s central bank has held its benchmark interest rate at 9.25%, signalling that its easing cycle has stalled as inflation, mounting public debt and slowing economic growth cloud the country’s outlook. Sign up for free or sign in to continue reading.
Automotive exports jumped 17% to $10bn Import bill rose faster than exports, pushing trade gap to $21bn RABAT, MOROCCO – Morocco’s car and components makers powered the country’s export earnings in the first half of 2026, but a faster-growing import bill widened the trade deficit and eroded coverage of imports by exports. Sign up for free or sign in to continue reading.
Can East Africa deliver its ambitious single currency dream?
East Africa targets 5.2% growth despite global turmoil Central bankers reaffirm 2031 single currency roadmap KAMPALA, UGANDA – East Africa’s central bank governors say the region remains on course for stronger economic growth and deeper monetary integration despite escalating geopolitical tensions and persistent global trade disruptions. Sign up for free or sign in to continue reading.
Why is Gulf oil still driving Botswana’s inflation?
Inflation remains above central bank target for a second month. Transport and imported goods continue fuelling price pressures. GABORONE, BOTSWANA – Botswana’s inflation remained at a two-and-a-half-year high in June, highlighting how Gulf oil market disruptions continue to push up living costs across the import-dependent economy. Sign up for free or sign in to continue reading.
Despite 4.8% growth, what’s slowing Morocco’s economy?
Morocco’s economy accelerates on stronger agricultural recovery. Consumption and investment offset weak manufacturing and trade. RABAT, MOROCCO – Morocco’s economy gathered momentum in the second quarter as stronger agricultural output and resilient consumer spending offset weakness in manufacturing, reinforcing expectations of faster growth later this year. Sign up for free or sign in to continue reading.
Mozambique’s inflation surge exposes cracks in central bank’s easing bet
Annual inflation hits 7.51%, the highest since May 2023 Central bank warns of a possible return to double digits MAPUTO, MOZAMBIQUE – Mozambique’s annual inflation rose to 7.51% in June, its highest level since May 2023, as transport and housing costs offset falling food prices. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better. Create your free account or sign in
Will Egypt’s rate hold cool inflation without choking recovery?
Street market in Egypt. Photo by Mahmoud Diab @ Unsplash Egypt keeps key rates unchanged for a third meeting. Inflation is easing, but growth risks remain. CAIRO, EGYPT – Egypt’s rate hold extends one of emerging markets’ tightest policy stances as inflation cools unevenly and recovery risks persist. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better.
Tanzania rate hike tests East Africa’s inflation resilience
Benchmark rate raised to 6.25%. Growth outlook remains above 6%. DODOMA, TANZANIA — Tanzania’s central bank has raised its benchmark interest rate to 6.25%, tightening monetary policy for the first time in a year to curb imported inflation while supporting strong economic growth. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better. Create your free account or sign in
Can Tunisia’s inflation slow while household pressures continue mounting?
Inflation eases to 5.3%, lowest in three months. Food costs remain high despite broader price moderation. TUNIS, TUNISIA – Tunisia’s annual inflation eased to 5.3% in June, offering households modest relief but underscoring persistent economic strains from high food prices, weak growth and delayed reforms. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better.
Why Morocco’s 4.6% growth still masks a deepening industrial slowdown
Agriculture masks weakening industrial activity. Investment and trade trends expose structural vulnerabilities. RABAT, MOROCCO – Morocco’s economy grew 4.6% in the first quarter, but the expansion relied heavily on agriculture as industry, investment and trade weakened. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better. Create your free account or sign in
Egypt’s state IPO drive tests reform pledges
Egypt grants first energy firms preliminary stock market listings. Reforms now face credibility test after years of delayed IPOs. CAIRO, EGYPT – Egypt has launched the first phase of a long-promised effort to open state-owned energy companies to market scrutiny, putting the credibility of its economic reform agenda to a fresh investor test. Sign up for free or sign in to continue reading.
Has Morocco bet too much on low inflation as global risks mount?
Central bank extends rate hold for fifth meeting Energy shocks threaten Morocco’s inflation outlook RABAT, MOROCCO – Morocco’s central bank kept interest rates unchanged for a fifth consecutive meeting, signalling confidence that subdued inflation can outweigh mounting global energy and geopolitical risks. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better.
Botswana’s policy rate pause signals confidence – or complacency?
Inflation remains far above the central bank’s target. Recovery hopes hinge on diversification and policy transmission. GABORONE, BOTSWANA – Botswana’s central bank has kept its benchmark interest rate unchanged at 5.5%, opting to rely on earlier tightening measures rather than raise borrowing costs further as inflation remains stubbornly high. Sign up for free or sign in to continue reading.
Mozambique’s inflation hits a two-year high. What caused it?
Annual inflation jumped to 7.22% in May, the highest since May 2023 Fuel prices rose to 45.5%, driving transport and food costs sharply higher MAPUTO, MOZAMBIQUE — Mozambique’s inflation has hit its highest level in two years, driven by a steep government-ordered fuel price adjustment that has cascaded swiftly through transport and food costs. Sign up for free or sign in to continue reading.
Egypt’s falling inflation masks bigger risks for markets and households
Inflation slows to lowest level since February Food, housing and telecom costs continue rising CAIRO, EGYPT – Egypt’s inflation eased again in May, but the details offer little comfort for households and investors hoping the country’s price shock is firmly in the past. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better. Create your free account or sign in
How Morocco’s growth surge exposes a new dependence on foreign capital
Agriculture rebound lifts Morocco’s growth to 4.9% Investment boom widens economy’s financing gap RABAT, MOROCCO – Morocco’s economy grew faster than expected in 2025, powered by a strong agricultural recovery and surging investment, but the expansion also exposed a growing reliance on external financing. Sign up for free or sign in to continue reading. Unlike our competitors, we don't force you to pay to read the news but we do need your email address to make your experience better.
Egypt’s green energy sprint masks a deepening gas crisis
Gas shortages force Egypt to accelerate renewable energy projects Clean energy becomes economic survival strategy, not climate policy CAIRO, EGYPT — Egypt’s decision to fast-track its renewable energy ambitions is being driven less by climate concerns than by an urgent need to rescue an economy strained by declining natural gas production, rising fuel imports and mounting pressure on foreign currency reserves. Sign up for free or sign in to continue reading.
Mozambique’s inflation fight deepens as growth stalls and debt pressures mount
Central bank signals shift from easing to inflation fight Debt distress and growth slowdown complicate policy choices MAPUTO, MOZAMBIQUE — Mozambique’s central bank has signalled a decisive shift in monetary policy, tightening liquidity conditions as inflation risks intensify despite a weakening economy grappling with floods, industrial disruption, and mounting debt pressures. Sign up for free or sign in to continue reading.
Could Morocco’s fuel-driven inflation spike derail central bank stability?
Fuel prices drive Morocco’s highest inflation since February 2025 Core inflation remains weak despite transport and energy pressures RABAT, MOROCCO – Morocco’s inflation accelerated in April as surging fuel costs pushed transport and non-food prices higher, exposing the kingdom’s vulnerability to global energy shocks despite easing food prices and subdued underlying inflation pressures. Sign up for free or sign in to continue reading.
Can Egypt’s inflation fight trap Africa’s biggest Arab economy deeper?
Egypt keeps rates high despite slowing inflation Debt pressures grow as borrowing costs remain elevated CAIRO, EGYPT – Egypt’s central bank has kept interest rates unchanged for a second straight meeting, signalling that the battle against inflation still outweighs concerns over slowing growth and mounting debt pressures.
Cameroon’s moderate borrowing masks rising financial distress risks
Commercial borrowing costs surge as Cameroon taps global investors Weak exports deepen concerns over long-term financial sustainability YAOUNDÉ, CAMEROON — Cameroon’s public debt climbed to 15.416 trillion CFA francs ($27.3 bn) at the end of March 2026, exposing mounting vulnerabilities beneath one of Africa’s lowest borrowing ratios.
Angola’s rate cuts expose Africa’s dangerous dependence on Middle East oil
Angola resumes monetary easing after inflation slows sharply Oil windfall boosts reserves despite rising fuel import costs LUANDA, ANGOLA – Angola’s central bank cut interest rates again this month, signalling growing confidence that inflation is easing even as Middle East tensions reshape the oil producer’s economic recovery.
Tanzania’s inflation shock tests East Africa’s last bastion of monetary stability
Fuel costs triggered Tanzania’s sharpest inflation rise in nearly three years Central bank faces pressure over prolonged accommodative stance DAR ES SALAAM, TANZANIA – Tanzania’s inflation surge in April has unsettled one of Africa’s most carefully managed macroeconomic stories, raising fresh questions over whether the country’s era of cheap money can endure external shocks.
Rates hike in Botswana: why the real economic problem isn’t inflation
Botswana battles fiscal stress despite moderate inflation pressures Diamond revenue collapse threatens reserves, banks, and sovereign stability GABORONE, BOTSWANA – Botswana’s sharp interest rate increase is exposing a deeper economic crisis rooted less in inflation than in the collapse of the country’s diamond-dependent growth model.
Will Tunisia’s 5.5% April inflation narrow room for rate cuts?
Tunisia inflation hits its highest level in nearly a year Food and clothing costs complicate rate-cut expectations TUNIS, TUNISIA – Tunisia’s inflation accelerated sharply in April, driven by rising food and clothing costs that are testing the country’s fragile economic stabilisation and narrowing the central bank’s room for policy easing. Consumer prices rose 5.5% year on year in April, up from 5.0% in March, according to new data released by Tunisia’s National Institute of Statistics (INS).
Algeria’s gas bet deepens amid Europe’s scramble for reliable supply
Algeria builds $1.38bn gas plant to meet demand Europe’s energy shift boosts Algeria’s strategic role ALGIERS, ALGERIA – Algeria has launched construction of a $1.38bn gas-fired power plant, reinforcing its central role in Europe’s shifting energy map while deepening reliance on hydrocarbons. Last week, Energy Minister Mourad Adjal broke ground on the 1,406-megawatt facility in eastern Algeria. Project authorities say it is critical to meet domestic demand and sustain export ambitions.
Morocco’s inflation rebound: why energy shocks are reshaping a fragile price recovery
Inflation turns positive after months of deflation Fuel surge drives sharp monthly price spike RABAT, MOROCCO – Morocco’s inflation rate climbed to 0.9% year-on-year in March, up from -0.6% in February, according to the High Commission for Planning (HCP), marking the first positive reading since October 2025 and the highest since March last year.
Egypt’s industrial bet: Can the Suez Canal Economic Zone replace lost canal revenues?
Nine new projects deepen Egypt’s industrial pivot SCZone still dwarfed by lost canal revenues CAIRO, EGYPT – Egypt is doubling down on industrialisation along the Suez Canal, betting billions that factories—not ships—will anchor its next phase of growth. Prime Minister Moustafa Madbouly on Thursday inaugurated nine new industrial projects in the Sokhna Industrial Zone, pushing total investments in the Suez Canal Economic Zone (SCZone) beyond $6.5bn.
Is Morocco’s 4.7% growth forecast sustainable amid surging oil prices?
Agriculture surge lifts growth above regional peers Oil price shock threatens inflation and demand RABAT, MOROCCO – Morocco’s economy is forecast to grow 4.7% in the second quarter of 2026, easing from 5% in the first, as rising energy prices linked to the Iran war test a rare agricultural windfall.
Is Egypt’s external recovery sustainable or just financing a widening trade deficit?
Trade deficit widens as imports outpace export growth Remittances, tourism and Suez Canal cushion external pressures CAIRO, EGYPT – Egypt’s trade deficit widened sharply in the first half of fiscal year 2025/26, exposing persistent structural imbalances despite stronger inflows from remittances, tourism and the Suez Canal.
Angola’s inflation retreat: is Africa’s oil producer finally leaving crisis-era prices behind?
Inflation slowed for a 21st straight month Lower prices give Angola cautious policy room LUANDA, ANGOLA – Angola’s inflation cooled again in March, extending one of Africa’s most striking disinflation runs and offering fresh evidence that the country is moving away from crisis-era price shocks. Annual inflation slowed to 12.42% in March 2026, down from 13.35% in February and 23.85% a year earlier, according to data from Angola’s National Statistics Institute (INE).
Tunisia inflation steadies at 5% – relief or a pause before renewed price pressures?
Inflation stabilises, but disinflation momentum slows Central bank holds rates amid external price risks TUNIS, TUNISIA – Tunisia’s inflation held at 5% in March, signalling stability but also exposing a slowdown in disinflation as price pressures persist beneath the surface. Tunisia’s annual inflation rate remained unchanged at 5% in March, matching February’s figure and confirming a return to mid-single digits after years of double-digit pressures.
Buying a used car in Morocco is exhausting – AI platform Choufli wants to fix the chaos
Startup tackles opaque informal car market Data-driven pricing challenges entrenched negotiation culture CASABLANCA, MOROCCO – A Casablanca startup is attempting to bring transparency to Morocco’s largely informal used-car market, using machine learning to replace instinct-driven pricing with data. Idriss Chefchaouni did not initially set out to transform how Moroccans buy and sell cars.
Caught between war and inflation, Egypt pauses rate cuts as risks mount for growth
Egypt pauses easing as inflation rebounds War-driven risks cloud growth and currency outlook CAIRO, EGYPT – Egypt’s central bank has held interest rates steady, pausing its easing cycle as inflation resurges and geopolitical tensions threaten to derail its fragile disinflation path. The Central Bank of Egypt (CBE) on Thursday kept its overnight deposit rate at 19%, lending rate at 20%, and main operation and discount rates at 19.5%, signalling a renewed commitment to tight monetary policy.
Egypt’s factory output dips as Iran war deepens economic woes
Factory output falls 2% in January Food and beverages surge ahead of Ramadan CAIRO, EGYPT — Egypt’s factory and mining output contracted in January, as sharp declines in key industrial sectors outweighed strong gains in food and beverage production. Egypt’s manufacturing and extractive industries index, excluding oil, fell by 2.0% to 125.89 in January from 128.47 in December, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
Is Nigeria’s capital inflow surge of $6.44bn a sign of confidence?
Capital inflows rise 26.61% year-on-year Portfolio investment dominates total inflows ABUJA, NIGERIA – Nigeria recorded a sharp rise in foreign capital inflows at the end of 2025, driven largely by short-term portfolio investments, new official data showed.
Egypt targets 5.4% GDP growth as fiscal overhaul aims to cut debt
Egypt targets 5.4% GDP growth for 2026/27 Fiscal plan focuses on debt reduction and investor confidence CAIRO, EGYPT – Egypt has set a 5.4% GDP growth target for 2026/2027, signalling a shift to more ambitious economic expansion backed by fiscal discipline and debt reduction. The target, outlined in a new budget framework reviewed by President Abdel Fattah El-Sisi, underscores Cairo’s effort to stabilise its finances while accelerating growth after years of economic strain.
Mozambique halts rate cuts as Middle East conflict fuels inflation risks
Central bank halts easing after over a year Middle East conflict raises inflation risks MAPUTO, MOZAMBIQUE — Mozambique’s central bank has paused its monetary easing cycle, holding its benchmark rate steady amid rising global risks and mounting inflation pressures. The Bank of Mozambique said on Monday it would keep its benchmark MIMO rate unchanged at 9.25% following the second Monetary Policy Committee (MPC) meeting of the year, marking the first pause since January 2024.
Tanzania debt hits $51bn as external borrowing dominates financing structure
External debt accounts for 70% of total stock Domestic borrowing rises on long-term securities DAR ES SALAAM, TANZANIA – Tanzania’s total debt edged higher in January, reaching $51.08bn, with external liabilities continuing to dominate the country’s financing structure. According to the Bank of Tanzania’s (BOT) February monthly economic review, the combined public and private debt stock rose slightly from the previous month, reflecting continued reliance on external financing.
Morocco inflation stays negative in February as weak demand persists
Annual inflation remains negative for fourth straight month Monthly prices rise on food and fuel costs RABAT, MOROCCO – Morocco’s annual inflation remained in negative territory in February, even as prices rose month-on-month, signalling weak demand and subdued price pressures. Data released by the High Commission for Planning (HCP) showed annual inflation fell to -0.6% in February, following -0.8% in January, extending a run of sub-zero readings largely driven by falling food prices.
Morocco holds rates at 2.25% as growth strengthens amid global uncertainty
Central bank pauses easing cycle amid geopolitical risks Inflation remains subdued despite rising oil price pressures RABAT, MOROCCO – Morocco’s central bank held interest rates steady on Tuesday, pausing its easing cycle as it balances strong growth with low inflation and rising global uncertainty.
Angola holds interest rate at 17.5% as inflation falls and oil risks loom
Angola keeps benchmark rate at 17.5% after three cuts since September. Inflation falls for 19th consecutive month to 13.35% in February. LUANDA, ANGOLA – Angola’s central bank has kept its benchmark interest rate at 17.5%, pausing a months-long easing cycle as policymakers balance slowing inflation with rising global economic uncertainties.
Mozambique inflation rises to 3.2% in February as food prices rise
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Egypt inflation rebounds as food prices push urban CPI higher
Skip to content Food prices drive up inflation. Photo by Kamran Chaudhry @ Unsplash Egypt’s urban inflation climbs to 13.4% in February. Food prices and rents drive renewed price pressures. CAIRO, EGYPT – Egypt’s urban inflation accelerated in February, ending months of cooling that had stabilised prices across the country’s major cities. Sign up for free or sign in to continue reading.
Benin slips into deflation as food prices fall, inflation turns negative
Benin’s inflation falls to -0.1% in February Food and transport costs drive price decline COTONOU, BENIN – Benin slipped into deflation in February as falling food and service costs outweighed rising housing and energy prices, according to new government statistics. Consumer prices fell by 0.1% year-on-year in February, down from a 0.9% increase recorded in January, data released Monday by the National Institute of Statistics and Demography (INStaD) showed.
Tanzania inflation slows to 3.2% in February
Skip to content Dar es Salaam, Tanzania. © Unsplash Tanzania’s annual inflation eases slightly to 3.2% in February Core inflation falls to 2.1% as food prices remain key driver DODOMA, TANZANIA – Tanzania’s inflation slowed slightly in February, reinforcing a period of price stability that keeps the country within the central bank’s target range. Sign up for free or sign in to continue reading.
Tunisia inflation rises to 5% on food prices
Core inflation eases despite rising fresh food costs Tunisia inflation climbs to 5% as food prices accelerate TUNIS, TUNISIA – Tunisia’s annual inflation rate edged up to 5% in February, driven largely by rising food prices despite easing pressure in several other sectors of the consumer basket. The latest figures released Thursday by the country’s National Institute of Statistics (INS) showed inflation increased slightly from 4.8% in January, marking the highest level since September 2025.
Mozambique exits recession with 4.67% growth
Mozambique economy grows 4.67% after four-quarter recession Manufacturing and construction drive recovery in late 2025 MAPUTO, MOZAMBIQUE – Mozambique’s economy returned to growth in the final quarter of 2025, ending a four-quarter recession as manufacturing and construction activity strengthened.
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