Nigerians had hoped for a technocratic cabinet but the country’s new ministers have not offered a break from previous political appointments.
Turning towards Africa has yielded positive results, but does Mauritius really want to be part of the continent?
Leaders of the 15 member states of the Economic Community of West African States (ECOWAS), have formally agreed to name a planned common currency the “ECO”. The currency would be based on a flexible exchange rate regime, coupled with a monetary policy framework focused on tackling inflation.
Now that African countries have signed up for the continental free trade agreement, they must complete the institutional loop by jumpstarting the creation of the African Monetary Fund.
Zimbabwe has a severe energy crisis because its major sources of electricity are struggling to keep up with demand.
The Forbes Africa 30 Under 30 List features 120 of Africa’s brightest achievers under the age of 30 in four categories: business, technology, creatives and sport. The list celebrates pioneers who are building brands, creating jobs, innovating, leading, transforming and contributing to new industries and ultimately impacting positively on the continent.
The Zimbabwean government has outlawed the use of all foreign currencies in local transactions. This includes the United States dollar, British pound, South African rand and Botswana pula. The Zimbabwe dollar will now be the sole legal tender in the country.
The Reserve Bank of Zimbabwe announced the re-introduction of the Zimbabwean Dollar replacing the multiple currency system in use since 2009 when hyper-inflation forced the country to abandon the local currency. The reintroduction has been largely met with cynicism. What do you think about the return of the Zim Dollar?
Kofo Akinkugbe is the founder and CEO of SecureID Nigeria Ltd, a market leader in smart card technology and digital security. The company is a world-class manufacturing facility with the only smart card production plant in West Africa and is one of only six on the continent.