Africa Business News

Malaysia has rejected the latest edition of the ‘standard map of China’ that lays claim to almost the entire South China Sea, including areas lying off the coast of Malaysian Borneo. Tensions have been rising in the strategically important waters as China has become increasingly assertive in its claim despite a 2016 international court ruling that its so-called ‘nine-dash line’ was without merit and superseded by the 1982 United Nations Convention on the Law of the Sea. Malaysia noted the new map, which clearly depicts the nine-dash line, showed China’s unilateral maritime claims and that they overlapped with Malaysia’s claims of its states of Sabah and Sarawak.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021. State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits. Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.

New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021. State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits. Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.

New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021. State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits. Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%. The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%.

The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%. The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%.

The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%. The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%. This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances. The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies. The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022. Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.

The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances. The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies. The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022. Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.

The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances. The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies. The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022. Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap. The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT. The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents. He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.

Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap. The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT. The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents. He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.

Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap. The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT. The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents. He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country. Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won. The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.

President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country. Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won. The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.

President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country. Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won. The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue. He noted that the country was headed for destruction should that continue. Tinubu says his administration must make difficult changes to better the lots of the country. Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.

President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue. He noted that the country was headed for destruction should that continue. Tinubu says his administration must make difficult changes to better the lots of the country. Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.

President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue. He noted that the country was headed for destruction should that continue. Tinubu says his administration must make difficult changes to better the lots of the country. Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Indian Prime Minister Narendra Modi has proposed to make the African Union a full member of the Group of 20, while also pitching his country as the solution to supply chain woes in advance of the bloc’s summit in New Delhi next month. Modi says they have a vision of inclusiveness and with that vision, we have invited the African Union to become permanent members of the G20. US President Joe Biden earlier said he wanted the AU to join the G20 as a permanent member adding that it had “been a long time in coming, but it’s going to come. New Delhi also called for including the pan-African bloc, which collectively had a $3 trillion GDP last year.