The Real Test Of Nigeria’s Economic Reforms

On 29 May 2023, moments after taking the oath of office, President Bola Ahmed Tinubu declared: “Fuel subsidy is gone.” The announcement marked the beginning of one of the most consequential economic reform cycles in Nigeria’s recent history. Over the following months, the administration moved to remove fuel subsidies, unify exchange rates through the Central […]

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Why Africa’s Capital Is Working Harder Abroad Than At Home

By Andrea McKaiser-Walbrugh, Senior Associate in the Banking & Finance team at CMS South Africa As of this year, the promise of the African Continental Free Trade Area (AfCFTA) has shifted from vision to imperative. The AfCFTA is no longer judged by aspiration but by its ability to mobilise capital at scale across the continent. […]

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Senegal Under Scrutiny As Africa’s Debt Transparency Problem Deepens

Senegal faces fresh scrutiny after undisclosed €650 million financing deals surfaced, adding to IMF findings that it significantly underreported debt and fiscal deficits between 2019 and 2023. The episode highlights a wider African problem of weak transparency, hidden liabilities, and complex borrowing structures that conceal true debt levels and intensify financial risks. This story is […]

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