Justice Nwafor
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(He/Him)
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Environment, economy, energy, climate change, global health and development
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Journo. FT: @BBC_Future | @SciDevNet | @Africaarguments | @Reuters etc. Winner @SanlamAwards 22/23. Finalist @truestoryaward 2024. @journalismfund grantee.
Articles by Justice Nwafor
Egypt’s inflation is cooling. Why keep rates high?
Central bank keeps deposit rate at 19% as inflation cools. Regional conflict and fiscal tightening could revive price pressures. CAIRO, EGYPT – Egypt’s central bank held interest rates steady as easing inflation collided with regional security, energy and fiscal risks that could still reignite price pressures. 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.
Namibia’s growth rebound masks cracks in mining engine
GDP expanded 4.8% as agriculture, consumption and investment rebounded. Mining weakness and surging imports expose risks beneath the recovery. WINDHOEK, NAMIBIA – Namibia’s economy grew 4.8% in the second quarter, its fastest pace since early 2023, as agriculture and household spending powered a broad domestic rebound. 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.
Can Morocco keep rates steady? Investment strains build
Bank Al-Maghrib holds its benchmark interest rate at 2.25%. Investment-led growth is widening Morocco’s external and fiscal pressures. RABAT, MOROCCO – Morocco kept its benchmark rate at 2.25% as policymakers balanced exceptionally low inflation against rising energy costs and mounting pressure from an investment boom. 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.
Morocco deflation persists as fuel costs surge again
Annual consumer prices fall for a second straight month. Fuel prices jump 9.8%, lifting monthly inflation. RABAT, MOROCCO – Morocco remained in deflation for a second month in August, even as a sharp fuel-price rise pushed consumer costs higher from July. 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
Is Botswana’s inflation cooling? Energy remains the spoiler
Headline inflation slipped to 9.3%, its lowest in five months. Electricity and transport costs keep inflation above the central bank’s target. GABORONE, BOTSWANA – Botswana’s inflation eased for a second month in August, but elevated transport and electricity costs kept price growth well above the central bank’s target. 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.
Is Egypt’s inflation fight turning? Core pressures linger
Urban inflation eased to 14.5% as food prices fell. Core inflation rose, keeping pressure on monetary policy. CAIRO, EGYPT – Egypt’s headline inflation eased in August as falling food prices offset rising housing and utility costs, offering cautious relief after months of stubborn price pressures. 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.
Tunisia’s inflation rebound tests fragile gains against prices
Inflation accelerated to 5.4% as food costs jumped sharply. Persistent price pressures complicate Tunisia’s cautious monetary easing. TUNIS, TUNISIA — Tunisia’s inflation accelerated in August, interrupting three months of easing as food, beverages and healthcare costs increased. 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 Rwanda tame inflation? Debt threatens its boom
Central bank lifts policy rate to 8.75% as inflation hits 13.8%. Rapid growth and heavy debt complicate Rwanda’s tightening cycle. KIGALI, RWANDA – Rwanda’s central bank has raised its key rate to 8.75%, betting tighter money can cool inflation without derailing one of Africa’s fastest-growing economies. 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 isn’t Mozambique’s gas revival lifting wider growth?
Mozambique’s economy grew 1.7%, but manufacturing contracted sharply. Investment fell 16.5% despite the return of multibillion-dollar LNG activity. MAPUTO, MOZAMBIQUE — Mozambique’s economy grew 1.7% in the second quarter, but falling manufacturing and investment exposed the fragility of its recovery. 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.
Has Zambia beaten inflation? The harder test begins
Annual inflation falls to 6.2%, lowest since February 2018 Cooling prices strengthen case for further monetary easing LUSAKA, ZAMBIA – Zambia’s inflation slowed to an eight-year low in August, raising a bigger question for investors: has one of Africa’s toughest price battles finally been won? 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.
Can Egypt cut rates? Inflation keeps policy tight
Egypt holds its deposit rate at 19% as inflation rises to 14.9% Slower growth offers relief, but regional and fiscal risks threaten disinflation CAIRO, EGYPT – Egypt’s central bank is keeping borrowing costs high as renewed inflation pressures and Middle East tensions complicate its path towards further interest-rate cuts. Sign up for free or sign in to continue reading.
Can Tangier rescue Morocco from Casablanca’s port congestion?
Casablanca handles about 35% of Morocco’s port traffic Maersk rail corridor redirects cargo through Tangier as congestion intensifies RABAT, MOROCCO – Casablanca’s worsening port congestion is pushing Morocco towards Tangier as the kingdom races to build a more resilient trade network before the 2030 World Cup. 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.
Tunisia’s second-quarter growth slowed to 2.3%, its weakest pace in five quarters. Agriculture and domestic demand strengthened. TUNIS, TUNISIA – Tunisia’s economic growth slowed in the second quarter as stronger domestic spending and agriculture failed to overcome pressure from trade, mining and energy. 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.
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).
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