Zambia, Kenya Airways and Nigeria’s Financial Woes: A Snapshot of Sub-Saharan Africa’s Economic Challenges

In sub-Saharan Africa, Zambia took a significant step towards resolving their debt issues by announcing on Monday that they had reached an agreement with private creditors to restructure $3 billion of international bonds. Meanwhile, Kenya Airways reported their first profit in over two years, driven by a 53% increase in revenue and a 35% increase in passenger numbers.

Nigeria is seeking an international arrest warrant for Binance’s regional manager for Africa who fled custody last week, and has also filed tax evasion charges against the cryptocurrency platform. The Commercial Bank of Ethiopia recovered more than three-quarters of the $14 million lost due to a software glitch that allowed customers to withdraw more funds than they had in their accounts. There are concerns among second-hand clothes sellers in Kenya about a proposal by France, Denmark, and Sweden to restrict imports of used clothing from the European Union.