International Monetary Fund (IMF) News

Iyinoluwa Aboyeji, the 26-year old Founder of Flutterwave and Andela

26-year-old founder wants to transform online payments in Africa

Aboyeji is the Co-Founder of Flutterwave, a payments API that makes it easier for banks and businesses to process payments across Africa.

Edwin Dande, Managing Partner & CEO, Cytonn Investments

Meet the Kenyan entrepreneur who built an $800 million asset management firm

Kenyan-born Edwin Dande is the Founder of Cytonn Investments, an alternative investment management and real estate company, with offices in Nairobi and the DC Metro area.

Africa's consumer data opportunity is being tackled by startups

Africa's consumer data opportunity is being tackled by startups

The Peter Drucker management aphorism, “You can’t manage what you can’t measure,” is a favorite of Yannick Lefang, the founder of Kasi Insight, an integrated marketing research firm operating in seven African countries.

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country.

Mo Abudu, Founder & CEO, EbonyLife TV. Credit: CNN

Mo Abudu: The Nigerian media mogul building a global empire (Video)

How do you get from a talk show sofa to boardroom chair? If you ask Mosunmola “Mo” Abudu, it’s being motivated by an eagerness to dispel ignorance – more specifically about Africa.

Cape Town was the most important destination in 2016 for startup investments in Africa

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable wifi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Investment in Africa's tech start-ups on the rise

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable Wi-Fi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Hilton Nairobi Upper Hill, Nairobi, Kenya (Illustration). Credit: hiltonworldwide.com

Hilton to open hotel in Africa's tallest development (Photos)

Iconic $110 million Hilton Nairobi Upper Hill marks Hilton Hotels & Resorts’ 50th property in Africa.

Live music in Accra, Ghana

Why is Ghana 25 times more successful than Nigeria at attracting tourism revenues?

Tourism should be an easy win for emerging market (EM) and frontier market (FM) economies with weakened currencies, and cheap jet fuel; an opportunity that we think is being missed.

There's still room for growth. Credit: qz.com/Reuters/Akintunde Akinleye

The "Africa Rising" story isn't over yet, despite China's slowdown and flagging growth in Nigeria and South Africa

The idea that African economies are on the way up first became popular around 2010, buoyed by a commodities boom and improved governance across the continent. Now, with flat commodity prices and slowing demand from China, the narrative of “Africa Rising” has mostly fallen out of fashion.

Ebi Atawodi, General Manager, Uber Lagos. Credit: marcopolis.net

Uber Partners First Bank to Offer Loans to Nigerian Drivers

Uber Technologies Inc. is partnering with FBN Holdings Plc’s First Bank Nigeria to provide loans to drivers.

Deepak Malik, Africa Regional Director, Norfund

Norway-Backed Fund on Hiring Spree in Africa Finance Venture

A new development-finance venture that will control banking and other assets worth more than $660 million across sub-Saharan Africa plans to hire as many as 20 people including analysts to manage its investments and help it spend another $300 million on acquisitions.

South Africa Leapfrogs Nigeria: Back to No. 1 spot in Africa on currency fluctuations. Credit: Bloomberg/IMF

South Africa's economy regains rank as Africa's biggest on rand appreciation (Infographic)

South Africa’s economy regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions.

Nigerian biscuit maker Beloxxi lures $80M private equity investment

Nigerian biscuit maker Beloxxi lures $80M private equity investment

Nigeria’s snacks industry has attracted the interest of a private equity firm founded by Sir Bob Geldof in a boost for Africa’s biggest economy.

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

3 reasons things are looking up for African economies: McKinsey & World Economic Forum

In 2010 the McKinsey Global Institute (MGI) described the potential and progress of African economies as “lions on the move”.

Abidjan, Ivory Coast. Credit: panoramio.com

Here are Africa’s top 10 fastest growing economies (Infographics)

The Ivory Coast is Africa’s fastest growing economy, according to the IMF’s latest World Economic Outlook. The West African nation’s GDP is expected to grow by 8.5% this year.

Hotel Novotel Dakar, Senegal. An AccorHotels property

Hotel development in Africa jumps 30% to 64,000 rooms for 2016

The number of planned hotel rooms for 2016 in Africa has soared to 64,000 in 365 hotels, up almost 30% on the previous year, according to new figures from the annual W Hospitality Group Hotel Chain Development Pipeline Survey.

Abdul-Nashiru Issahuku, newly-appointed Governor of the Bank of Ghana. Credit: theafricareport.com

Abdul-Nashiru Issahuku appointed Governor of the Bank of Ghana

Abdul-Nashiru Issahuku has been appointed the next Governor of Ghana’s central bank, the Bank of Ghana (BoG).

Two Rivers, Nairobi, Kenya (Illustration)

Africa: A land of opportunity for property investors

UAE investors have been urged to follow in the footsteps of the Majid Al Futtaim Group and the Landmark Group by pursuing property opportunities in East Africa.

Africa - The Race Between Debt and Growth

Africa: The Race Between Debt and Growth

As sentiment toward emerging markets has turned negative over the past few years, African economies have not been spared from the ensuing rout.

Shop Africa 2016: Knight Frank

Shop Africa 2016 (Report & Infographics): Knight Frank

Sub-Saharan Africa is experiencing a wave of modern shopping mall development. The retail sector has become a major focus for development activity in recent years, as investors have been attracted by the growth potential of African consumer markets.

Jay Ireland, President, GE Africa

GE sees potential to double African revenue and employees in 5 years, says GE Africa President Jay Ireland

General Electric Co. sees the potential to double its African revenue and employees as the company expands in countries including Ethiopia and Mozambique, GE Africa President Jay Ireland said.

Africa's mobile subscriptions grow fastest globally

Africa's mobile subscriptions grow fastest globally: ITU

Africa experienced the largest growth in mobile subscriptions of any world region in 2014, according to Analyse Africa’s analysis of data from the International Telecommunications Union (ITU).

Akinwumi Adesina, President, AfDB

Africa growth stays strong even as China slumps: Akinwumi Adesina, President, AfDB

Strong investment flows to Africa will sustain high economic growth on the continent even amid low oil prices and a slowdown in China, African Development Bank President Akinwumi Adesina said.

Thabo Dloti, CEO, Liberty Holdings

South Africa's Liberty buys control of Ugandan insurer East African Underwriters Limited (EAUL)

South Africa’s Liberty Holdings has bought a controlling stake in a short-term insurer in Uganda for an undisclosed sum, pursuing its strategy of expanding on the African continent.

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.

Nigeria Targets Country-Wide Broadband Access by 2020

Nigeria Targets Country-Wide Broadband Access by 2020

Nigeria plans to help revive economic growth by expanding broadband Internet access throughout Africa’s most populous country by 2020 despite delays in rolling out the needed infrastructure, according to the telecommunications regulator.

IMF Managing Director Christine Lagarde watches children perform a dance in Abuja during her visit to Nigeria. Photograph: IMF via Getty Images

It's naira or never - Nigeria needs decisive action on its currency: Oluseun Onigbinde, Co-Founder, BudgIT

When Christine Lagarde, the managing director of the International Monetary Fund, visited Nigeria this week, she called for more flexibility on the exchange rate, encouraging those who believe the naira could be devalued again very soon.

Marlon Chigwende, Managing Director and Co-Head, Sub-Saharan Africa Buyout Advisory, Carlyle

Private equity giant Carlyle says it may make Sub-Saharan Africa deals early next year

Carlyle Group LP, the world’s second-largest manager of investment alternatives to stocks and bonds, said it may announce new purchases for its sub-Saharan Africa fund early next year as it forecasts the region will grow faster than all other areas except India and China.

The African Union meets in Johannesburg, South Africa. Credit: ft.com

Ambitious plans promise surge in African commerce

When the US, Japan and 10 other economies recently sealed the deal on a vast new Pacific Rim trading bloc, they made front page headlines around the world.

Addis Ababa, Ethiopia. Ethiopia is predicted to be Africa’s fastest growing economy in 2015

Africa outperforms global economy despite downward revisions

Africa continues to outperform other world regions despite falling commodity prices and rising conflict in 2015, according to revised GDP figures forecasted by the International Monetary Fund (IMF) accessed via Analyse Africa.

Nigeria should look forward to automobile boom, says PwC (Reuters/Monica Mark)

In 35 years, Nigeria could be the automotive capital of Africa

New data from PricewaterhouseCoopers (PwC) predicts that Nigeria can become a leading automotive hub in Africa by 2050 with an increase in local production and an expansion in new car markets.

Gary Steinberg, former ‎Chief, Investment Unit at the International Monetary Fund. Credit: telegraph.co.uk

Former IMF investment head joins Nigeria's CBO to launch Africa-focused fund

Gary Steinberg will help CBO launch its first fund to support small West African businesses.

Aubrey Hruby, Co-Founder, Africa Expert Network (AXN)

China's slowdown - An opportunity for Africa to address longstanding economic inefficiencies: Aubrey Hruby, Co-Founder, Africa Expert Network

According to the IMF, a 1 percentage point decrease in China’s investment growth is associated with an average 0.6 percentage point decrease in Africa’s export growth rate.

7 Reasons to Be Bullish on MTN Group

In Africa, local companies outplay multinationals, says BCG report

Local African companies have gained a competitive edge on the continent over their multinational counterparts and are making inroads where overseas players once dominated, said a report released Tuesday.

John Magufuli, Tanzania's President-Elect

Tanzania's Election - Bullish on the Bulldozer: Ryan L. Hoover, Investment Analyst, Africa Capital Group

It wasn’t pretty, but John Magufuli ended up winning the most hotly contested presidential election in Tanzania’s history last week.

Ben Kruger, Co-CEO, Standard Bank

Standard Bank opens Ethiopia office to cater to fast growing economy

Standard Bank Group has opened a representative office in Ethiopia.

Jerome Booth, Co-Founder of Ashmore Group and Chairman of New Sparta Asset Management. Credit: institutionalinvestor.com

Ashmore Group's Co-Founder Jerome Booth looks to raise up to $500M to invest in African energy

The former Ashmore Group research head is launching an emerging markets investment firm that will start by focusing on African energy projects.

Abidjan, Ivory Coast

Concrete strides: Sub-Saharan Africa's infrastructure potential

For this West African city of more than 4.7 million people, the bridge to a better economy starts with an actual bridge.

A cameraman films a scene for the Nollywood movie October 1, a police thriller directed by Kunle Afolayan, at a rural location in Ilaramokin village, southwest Nigeria. Reuters/Akintunde Akinleye

From Nollywood to New Nollywood: The runaway success of Nigeria's booming movie industry

The video-film industry of Nigeria has been described as one of the greatest explosions of popular culture that Africa has ever seen.

Macky Sall, President of Senegal

Senegal Plans New City to Ease Gridlock, Woo China Investors

On a plain dotted with rotund baobab tree trunks Senegal is planning its future. The government of the West African nation is laying the groundwork for a new city …

Jaime Dimon, Chairman, President & CEO, JP Morgan Chase

JPMorgan plans Africa expansion even as Ghana and Kenya regulators refuse entry

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., which has offices in South Africa and Nigeria, said the bank wants a presence in more African countries to spur growth, even after regulators in Ghana and Kenya refused the lender entry.