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Nigeria food banks cut back on handouts as prices soar

Nigeria food banks cut back on handouts as prices soar

AT a warehouse in Nigeria's commercial capital Lagos, dozens of women patiently wait their turn to receive food handouts. Among them is 68-year-old widow Damilola Salami, who received an invitation to the facility just as she had almost run out of food. The Lagos Food Bank is a crucial lifeline to residents like Salami but has seen supplies from private and other donors fall as inflation soars in Africa's biggest economy. Nigeria is grappling with the worst cost of living crisis in decades, which has deepened since President Bola Tinubu rolled out bold but unpopular economic reforms after assuming office last May. "There is…
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Economic reforms propel Ethiopia to world’s third fastest growing nation brand status

Economic reforms propel Ethiopia to world’s third fastest growing nation brand status

ONGOING economic reforms that are also seeing Ethiopia opening up its traditionally closed sectors to private investment are helping to lift the country’s image, globally, according to a new report. UK-based Consultancy, Brand Finance in its Global Soft Power Index 2024 ranked Ethiopia the third fastest-growing nation brand in the world. In the ranking of the most valuable nations, Ethiopia’s brand value grew 23% - the highest growth in Africa - and the Brand Finance report said positive economic prospects had significantly contributed to the improvement. “Ethiopia is the fastest-growing African Nation Brand this year. It was one of the…
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Hard times in Nigeria as reforms deepen cost of living crisis

Hard times in Nigeria as reforms deepen cost of living crisis

BLESSING Joseph has been weaving bags, sandals and jewellery earning enough money to feed her son and send him to school. But since November, she has fallen on hard times as customers have stopped coming and she and her son routinely go to bed hungry. She is among millions in Africa's largest economy, grappling with the worst cost of living crisis in decades, that has deepened since President Bola Tinubu introduced bold but unpopular economic reforms after he assumed office last May. Last year, Joseph could easily make 30,000 naira ($18.83) a week but now she will be lucky to…
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EU disburses 150 mln euros to Tunisia to support financial stability

EU disburses 150 mln euros to Tunisia to support financial stability

THE European Union disbursed 150 million euros to Tunisia as budget support for financial stability and economic reforms, the European Commission said, as the North African country faces a financial crisis. "The EU continues its commitment alongside Tunisia ... This is an important step as part of our agreement concluded last year and good progress in our partnership.", the president of the European Commission, Ursula von der Leyen, said.
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Ali Hassan Mwinyi: the Tanzanian former president who oversaw the transition to market economy

Ali Hassan Mwinyi: the Tanzanian former president who oversaw the transition to market economy

ALI Hassan Mwinyi, Tanzania’s second president who has died aged 98, pushed through tough economic and political reforms that transformed the East Africa nation from socialism to an open economy and a multi-party democracy. He was president from 1985 to 1995. NICODEMUS MINDE, Adjunct Lecturer, United States International University He did all of this in the shadow of Julius Nyerere who had led Tanzania since independence in 1961 and turned the country into a one-party socialist state. Tanganyika joined together with Zanzibar in 1964 to form the United Republic of Tanzania. Nyerere stepped down in 1985 but remained chairman of…
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