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Experts predict bright economic future for East Africa in new report

As the global recession gathers strength, most African economies are relatively unaffected owing to the strength of economic diversity in some regions. This is according to the Institute of Chartered Accountants in England and Wales (ICAEW) latest report, Economic Update: Africa Q4 2019. The professional accountancy body provides GDP growth forecasts for various regions including East Africa, which is the …

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Is the renaming of CFA franc a prelude to an Ecowas common currency?

Francophone West African countries have decided to rename their common currency CFA franc as the Eco. Côte d’Ivoire’s President Alassane Ouattara announced the decision during a press conference with French President Emmanuel Macron in Abidjan on 23 December, showing that it was a decision jointly reached with France. The currency is used by Benin, Burkina Faso, Guinea Bissau, Côte d’Ivoire, …

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