Capital Economics News

Muhammadu Buhari, President of Nigeria

Nigeria seeks $3.5B in loans from World Bank & AfDB

Nigeria’s government is in talks for concessionary loans worth $3.5 billion from the World Bank and African Development Bank to help finance a planned record budget this year, Finance Minister Kemi Adeosun said.

South African Rand

South Africa economy avoids recession

South Africa has avoided falling into recession after second-quarter GDP figures showed the economy grew by 0.6% during the April-to-June period.