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Togo

EBID Adjusts Strategy Amid Trade Tensions and Monetary Easing

Lomé, Sept. 29, 2025 – The ECOWAS Bank for Investment and Development (EBID) is recalibrating its strategy as global trade frictions and shifting monetary policies reshape Africa’s economic outlook. Meeting in Lomé for its 93rd board session, the institution approved $308 million in loans for projects in Guinea and Nigeria. Inflationary Pressures from U.S. Tariffs EBID President George Agyekum Donkor warned that U.S. export tariffs introduced under the Trump administration continue to fuel inflation across African economies. “These taxes increase the price of products and services and generate a direct impact on our economies,” Donkor said. He noted that higher production and service costs are eroding household purchasing power and undermining the competitiveness of local businesses. Leveraging Global Monetary Easing While trade tensions persist, EBID sees opportunities in international capital markets. With the U.S. Federal Reserve cutting rates by 25 […]

Abubakar October 1, 2025

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Finance

CBN Holds Rates at 27.5% for Third Straight Meeting as Inflation Cools

CBN Maintains Hawkish Stance as Inflation Shows Mixed Signals The Central Bank of Nigeria (CBN) kept its key policy rate unchanged at 27.5% for the third consecutive meeting, adopting a cautious approach as inflation shows tentative signs of cooling. Key Decisions:✔ MPR held at 27.5% (unanimous 12-0 MPC vote)✔ CRR maintained at 50% for banks, 16% for merchant banks✔ Liquidity ratio steady at 30%✔ Asymmetric corridor unchanged at +500/-100bps "This pause sustains our disinflation momentum while containing price pressures," said CBN Governor Olayemi Cardoso. Inflation Breakdown: The Good and Bad News 📉 Headline Inflation:• June: 22.22% (down from 22.97% in May)• Driver: Cheaper energy (cooking gas, diesel, charcoal) 📈 Underlying Pressures:• Monthly inflation rose to 1.68% (from 1.53%)• Core inflation jumped to 22.76% (services, housing costs)• Food inflation remains stubbornly high Why the CBN Is Walking a Tightrope 🔍 The Delicate Balance:✅ Progress: 3-month disinflation trend validates tight policy⚠️ Risks: Rising month-on-month and core inflation🎯 Long-game: CBN targets single-digit inflation eventually "Energy price moderation helped, but services and housing […]

Ahmad July 23, 2025

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Finance

CBN Hits Pause: MPC Holds Interest Rate at 27.5% as Inflation Cools – What’s Next for Nigeria’s Economy?

CBN’s MPC Holds Rates Steady: A Strategic Pause Amid Inflation Slowdown The Monetary Policy Committee (MPC) of Nigeria’s Central Bank (CBN) has opted to maintain its benchmark interest rate at 27.5%, halting months of aggressive tightening. The decision, announced after its 300th meeting in Abuja, reflects cautious optimism as inflation shows signs of easing and foreign exchange (FX) pressures moderate. Key Decisions at a Glance 🔄 Policy Rates Unchanged: Monetary Policy Rate (MPR): 27.5% Cash Reserve Ratio (CRR): 50% (Deposit Banks), 16% (Merchant Banks) Liquidity Ratio: 30% 📉 Inflation Cools: Headline inflation dipped to 23.71% in April (from 24.23% in March), driven by improved food supply and fuel price stability. 💵 FX Market Gains: Narrowing gap between official and parallel market rates signals growing confidence in CBN reforms. Why the Hold? Cardoso’s Strategic Vision CBN Governor Olayemi Cardoso emphasized the pause allows the MPC to “gain clearer insights into evolving macroeconomic dynamics” while anchoring […]

Ahmad May 21, 2025

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Ahafo

Bawumia Dismisses NDC’s Claim Over Cedi Gains

Former Vice President Dr. Mahamudu Bawumia has challenged the National Democratic Congress (NDC)'s assertion that their policies have led to the recent appreciation of the Ghanaian cedi. Speaking at the Young Executive Forum in London, Dr. Bawumia emphasized that the NDC has not implemented any concrete policies to influence the currency's performance. Bawumia's Perspective Dr. Bawumia highlighted that the NDC's budget was only passed in March, with no significant expenditures or projects initiated that could impact the cedi's value. He attributed the currency's gains to strategic initiatives undertaken during his tenure, notably the gold purchase program, which increased Ghana's gold reserves from 8.7 tons to 30 tons over two years. This accumulation provided a substantial backing for the cedi, enhancing investor confidence. NDC's Counterpoint In contrast, Finance Minister Dr. Cassiel Ato Forson credited the cedi's appreciation to synchronized fiscal and […]

Ahmad May 20, 2025

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Ahafo

Ghana cedi named world’s best-performing currency by Bloomberg

Ghana's cedi has recently garnered international attention by being named the world's best-performing currency in April 2025, appreciating nearly 16% against the US dollar, according to Bloomberg. This significant turnaround marks a notable shift from its previous status as one of the weakest currencies globally. A Remarkable Reversal In 2022, the Ghanaian cedi faced severe depreciation, losing over 50% of its value and ranking among the world's worst-performing currencies. This decline was attributed to unsustainable debt levels, high inflation, and dwindling foreign exchange reserves. The situation prompted the Ghanaian government to seek a $3 billion bailout from the International Monetary Fund (IMF) to stabilize the economy. Economic Recovery and Currency Appreciation The cedi's recent appreciation has had a positive impact on Ghana's economy. Consumer price inflation fell to 21.2% in April, down from 22.4% in March, marking the lowest rate […]

Ahmad May 8, 2025

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USA

Trump Says Fed Chair’s ‘Termination Cannot Come Fast Enough’

President Trump lashed out at Jerome H. Powell, the chair of the Federal Reserve, on Thursday, saying “Powell’s termination cannot come fast enough!” Mr. Trump’s ire followed remarks by Mr. Powell on Wednesday, in which he warned in a speech that tariffs could create a “challenging scenario” for the central bank by putting its two main goals — stable inflation and a healthy labor market — in tension. Mr. Powell reiterated that the Fed could afford to be patient with its interest rate decisions until it had more clarity about Mr. Trump’s policies. The Fed chair’s emphasis on the need to ensure that a temporary rise in inflation from tariffs did not become a more persistent problem suggested that the bar for further rate cuts was high. The president has been pushing for Mr. Powell to cut rates. On Thursday, […]

Ahmad April 17, 2025

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