European Union officials are preparing to pit the bloc’s banks against the toughest simulated recession that they have ever faced in a stress test, three people briefed on the matter said. The European Banking Authority and the European Central Bank will next week unveil an adverse scenario for the stress […]

Africa’s wealthiest man, Aliko Dangote, and the Minister of Finance, Dr. Ngozi Okonjo-Iweala, have been named among the 100 most influential persons on earth by the Time Magazine. Microsoft Founder and Co-Chair, Bill and Melinda Gate Foundation, Mr. Bill Gate, wrote a tribute in honour of Dangote in commemoration of […]

Fiscal deficits in sub-Saharan Africa are rising, with Ghana and Zambia the most at risk if there’s a sudden reversal of foreign inflows, the International Monetary Fund said. Budget shortfalls in the region “are elevated considering the prevailing high growth and still high commodity prices,” Antoinette Sayeh, director of the […]