According to a recent report from the World Bank, it ranked the Ghana cedi as the worst-performing currency in Africa since the beginning of the year with a depreciation of 60 percent against the United States dollar. In the report,…
Debt repayment costs are rising fast for many African countries. African governments owe a lot of money to rich countries as well as multilateral banks. The governments in the African region were on average, spending less than 5% of revenues…
The World Bank had earlier noted that Nigeria may spend up to $9 billion on fuel subsidies in 2022, warning that the country’s high spending on subsidies will dwindle its revenue, also negatively impacting the government’s ability to fund the…
The president of the World Bank, David Malpass, has disclosed that cheap and functional mobile phones as well as affordable internet access are necessary for the expansion of digital finance in developing economies. He disclosed that the covid-19 pandemic influenced…
Recall that last September, El Salvador became the first country in the world to officially adopt Bitcoin as a legal tender, making the cryptocurrency an accepted means of exchange for goods and services. The government rolled out a digital wallet…
