Market Bazaar

WASHINGTON — Somalia on Wednesday secured a $4.5 billion debt relief deal from its international creditors, the International Monetary Fund and World Bank said, which will allow the nation to develop economically and take on new projects. The deal comes … Continued

(Bloomberg) — Ethiopia looks set to miss an interest payment due later on Monday on its December 2024 dollar bond, becoming the latest emerging-market sovereign to default on debt.  The country’s finance ministry said on Friday, it was “not in … Continued

(Bloomberg) — The head of Kenya’s largest bank by market value said the depreciation of the East African country’s currency, which has weakened almost 20% against the dollar this year, has peaked. “We seem to have reached the peak,” Equity … Continued

Ethiopia’s oil magnate, and one of Africa’s richest men, Mohammed Al Amoudi, has experienced a remarkable surge in his net worth, reaching $8.5 billion, marking a 61.9% increase in just 30 days. According to data tracked on Bloomberg, Al Amoudi’s … Continued

BAIDOA, Somalia– Türkiye’s Ziraat Katilim Bank opened its first branch in Somalia’s capital Mogadishu on Sunday, making it the first international bank to open a branch in the Horn of Africa nation in 50 years. Somali Prime Minister Hamza Abdi … Continued

The African-Nordic ministerial meeting agreed to transform challenges into cooperation and partnership opportunities to address conflicts and terrorist threats, especially in the Sahel-Saharan region. Algerian Foreign Minister Ahmed Attaf delivered a speech at the conclusion of the 20th session of … Continued

The East African Community (EAC) is expressing concerns over renewed hostilities between armed groups fighting in the North Kivu region of Eastern Democratic Republic of Congo (DRC), in what could signal violations of an agreed ceasefire. So far, armed confrontations … Continued

Aim-listed Kefi Gold and Copper has completed the last of many special permissions and policy changes agreed with the Ethiopian authorities over the years since Kefi assumed control of the Tulu Kapi gold project. The Tulu Kapi project is now finally fully permitted with only procedural administrative confirmations … Continued

BY XIAOCHEN SU, African liberty Ethiopia has had a few tough years. In 2020, conflict arose between the Ethiopian federal government and the Tigray People’s Liberation Front (TPLF). TPLF, the primary political party representing the northern Tigray region, alleged delays … Continued