South Africa is experiencing a 15-year power crisis that is causing widespread rotational power cuts, known as loadshedding. In 2022, there were 3,773 hours of loadshedding (the most intensive year of loadshedding in South Africa’s history), according to CleanTechnica. The … Continue reading →
Egypt’s annual urban consumer inflation rate rose to 21.3 percent in December 2022—the highest since the end of 2017, according to Asharq Al-Awsat (reporting data from CAPMAS). MEI reports that by the end of August 2022, international reserves had declined … Continue reading →
Inflation in Morocco is expected to reach 6.6 percent this year, according to Reuters. The Bank Al-Maghrib (“BAM”), Morocco’s central bank, raised its benchmark interest rate today by 50 basis points to 2.5 percent in an effort to control inflation, … Continue reading →
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), plans to invest $24 billion in Middle Eastern and North African countries, including in the real estate sector, according to Bloomberg. Reuters reported in August that Saudi Arabia has registered … Continue reading →
Eko Atlantic is a planned city of Lagos State, Nigeria. The project, which began in 2009, is being constructed on land reclaimed from the Atlantic Ocean. The 10 million square meters of reclaimed land is protected from rising sea tides … Continue reading →
Ethiopia, which in 2015 surpassed Kenya as the fourth-largest economy in sub-Saharan Africa, has emerged to become Africa’s second-biggest flower exporter. In 2015, Ethiopia produced 50,000 metric tons of flowers with a market share valued at $200 million, according to … Continue reading →
Zimbabwe is considering the adoption of the South African Rand (ZAR) as its main transaction currency to replace the U.S. dollar in the country’s multi-currency system, according to Forbes. Zimbabwe has been primarily a U.S. dollar-based economy since 2008 when … Continue reading →
Demand for commercial property is on the rise in Accra due in part to Ghana’s burgeoning oil industry. The average retail rent in Accra increased by 50 percent over the past year to about $5.60/sf, compared to $2.88/sf in Namibia … Continue reading →