Intra-country trade across Africa is stuttering as businesses struggle to find the foreign currency, most notably the US Dollar, they need to pay for imports - a shortage caused by the depreciation of local currencies, higher interest rates and capital flight in the continent’s developed markets, says findings in latest Standard Bank Africa Trade Barometer.
Edo State Governor, Godwin Obaseki, has advocated massive investment in agriculture, especially oil palm, as strategic move to boost foreign exchange in Nigeria.
President Gotabaya Rajapaksa declared a state of emergency in the island nation which has a population of around 22 million. This came a day after violent protests over the country's worst economic crisis in decades.