Sudan government is pinning its hopes on a conference of potential donors in Berlin this week with the country’s economy at risk of freefall, hammered by inflation exceeding 100% and plagued by shortages of bread, fuel and medicine.

The crisis has been compounded by the coronavirus pandemic, which has diverted the resources of many donors.

New financing, however, has been held up by the need to settle decades of arrears to the International Monetary Fund (IMF) and Sudan’s listing, while under Bashir’s rule, by the United States as a state sponsor of terrorism.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Ten of Zambia’s international bondholders on Tuesday said they have formed a creditor group ahead of what is expected to be a complex restructuring of its debts.

One of the world’s largest copper producers, Zambia owes money to four main types of creditor. It has $3 billion of Eurobonds outstanding and owes $2 billion to commercial banks, $2 billion to the IMF and World Bank and a further $3 billion to China.

The new bondholder committee did not name any of its 10 members but said they were all based in the United States or Europe and in aggregate hold approximately 35% of the total amount of Zambia’s outstanding Eurodollar bonds.

World Bank data estimates it added up to 45% of Zambia’s gross domestic product (GDP) last year, while its total debt stock was the equivalent to 89% of GDP.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Zimbabwe’s energy regulator said the fuel prices will go up by as much as 152% after the government removed a fixed exchange rate in place since March.

Zimbabwe is already going through its worst economic crisis in a decade, marked by high inflation, food and medical shortages.

The regulator on Tuesday night announced that the price of petrol will go up to 71.62 Zimbabwe dollars (U.S. $1.25) per litre, from 28.96 Zimbabwe dollars previously. The diesel price will now be 62.77 Zimbabwe dollars from 24.93 Zimbabwe dollars.

Learn more about your ad choices. Visit megaphone.fm/adchoices

The annual inflation rate in South Africa fell to 3% in April of 2020 from 4.1% in March and slightly below market expectations of 3.1%, thus remaining comfortably within the Reserve Bank's target band of 3-6%. It was the lowest rate since June of 2005, amid a decrease in transport prices. There was also a slowdown in costs of housing & utilities, alcoholic beverages & tobacco clothing & footwear, recreation & culture and restaurants & hotels.

Consumer prices went down 0.5%, after rising 0.3% in March, and compared with market consensus of a 0.4% drop.

Learn more about your ad choices. Visit megaphone.fm/adchoices

South African lender African Bank swung to a half-year loss on Wednesday after taking a 550 million-rand ($31.89 million) charge for bad debts.

Controlled by the central bank after nearly collapsing under the weight of bad loans in 2014, the lender has struggled to turn itself around.

It reported a net loss after tax of 311 million rand for the six months to March 31, compared to a profit of 69 million rand a year earlier after been hit by the impact of the coronavirus

It said in its results statement the bank continues to maintain robust capital levels and surplus liquidity

African Bank’s bid to restore itself to viability was gaining some traction before the coronavirus hit, dealing a hefty blow to South Africa’s already shrinking economy and its lenders.

Learn more about your ad choices. Visit megaphone.fm/adchoices

A senior official on Tuesday said Investors have made firm commitments to put tens of billions of rand into projects that South Africa’s government hopes will drive an economic recovery from the coronavirus crisis.

South Africa is facing a steep economic contraction this year after the government imposed a strict lockdown to contain the virus, and a global economic slowdown has hurt demand for its exports.

Officials held an infrastructure symposium on Tuesday to showcase 276 projects to investors from sectors including energy, transport, housing, water and sanitation, agriculture and digital technologies that they hope will raise the potential economic growth rate and create jobs.

Learn more about your ad choices. Visit megaphone.fm/adchoices

The World Bank on Tuesday said it has approved a $500 million loan to help Morocco improve access to online finance and government services for businesses, particularly startups led by young people.

The Moroccan central bank expects government debt to surge to 75.3% of gross domestic product in 2020 from 65% last year. It forecasts the economy will contract by 5.2% this year compared with 2.5% last year.

Learn more about your ad choices. Visit megaphone.fm/adchoices

The Public Interest Accountability Committee, PIAC, has reiterated its call on Parliament to put some restrictions on the Ghana National Petroleum Corporation’s budget allocated to Corporate Social Investments.

The Annual Budget Funding Amount (ABFA) made available for GNPC in 2019 was pegged at GHC2.7 billion, out of which only GHC1.2 billion was utilized, leaving a balance of GHC1.5 billion unutilized.

According to PIAC’s report, for the third consecutive year, not only has a substantial proportion of the ABFA not been fully utilized, but GNPC has been unable to account for it.

PIAC says GNPC is in violation of the Petroleum Revenue Management Act, and the Ghana Infrastructure Investment Fund Act among others.

Learn more about your ad choices. Visit megaphone.fm/adchoices

President Muhammadu Buhari on Tuesday raised concerns over the planned single currency for the Economic Community of West African States.

He said the plan for the single currency, Eco, could be in serious jeopardy, unless member states complied with agreed processes of reaching the collective goal.

The Eco is the proposed name for the common currency that the West African Monetary Zone plans to introduce in the framework of ECOWAS.

According to a statement by his Special Adviser on Media and Publicity, Femi Adesina, the President delivered Nigeria’s position at a virtual extraordinary meeting of the Authority of Heads of State and Government of the West African Monetary Zone.

Buhari expressed concern over the decision of francophone countries that form the West African Economic and Monetary Union to replace the CFA Franc with Eco ahead of the rest of member states.

Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Government plans to review the prices of gas consumed across the country.

The Minister of State for Petroleum Resources, Timipre Sylva, said the move would help deepen the use Liquefied Petroleum Gas, popularly called cooking gas, as well as Compressed Natural Gas.

The Federal Government targets to move motorists from the use of petrol to the use of CNG in their respective vehicles.

Sylva, according to a statement from his ministry on Tuesday, said the government would continue to push for the use of gas for cooking and in automobiles.

He disclosed the plan of government to review the country’s domestic gas pricing framework at the inauguration of a committee that would focus on gas sector review in Nigeria.

The minister said the committee would evaluate and review gas prices nationwide in order to align with the current economic realities.

Learn more about your ad choices. Visit megaphone.fm/adchoices