The IMF’s Executive Board is set to consider the third review of Ethiopia’s $3.4 billion program this summer. This review is crucial for Ethiopia to receive further financial disbursements and continue its macroeconomic reforms. If approved in June, approximately $265 million will be released, supporting Ethiopia’s broader reform goals and debt restructuring under the G20’s Common Framework.

US President Donald Trump and South African President Cyril Ramaphosa agreed to enhance bilateral trade and investment ties during their meeting in Washington. Despite tensions over Trump’s previous statements regarding white farmers in South Africa, both leaders expressed a commitment to deepen economic cooperation and initiate formal trade negotiations.

On May 23, 2025, the Bank of Zambia maintained its Monetary Policy Rate at 14.50%, following two consecutive increases in previous meetings. The decision reflects the central bank’s anticipation of a faster-than-expected decline in inflation, which stood at 16.5% in April. The bank projects inflation to average 13.5% in 2025, an improvement from the 14.6% forecast in February.

Finance Minister Enoch Godongwana warned that South Africa might need to implement significant spending cuts if the South African Revenue Service (SARS) fails to meet its revenue collection targets. The current budget projects a deficit of 4.8% of GDP, relying heavily on improved revenue collection.

During a meeting with President Cyril Ramaphosa, U.S. President Donald Trump reiterated debunked claims about “white genocide” in South Africa. Ramaphosa maintained composure, refuting the allegations with factual crime statistics. The incident drew criticism from South Africans, who viewed Trump’s remarks as misinformation.

Zambia’s corn harvest is expected to more than double from last year’s 16-year low to a record high of 3.66 million tons. This surge in production is anticipated to alleviate food inflation pressures and enhance food security in the region.

Mauritius Prime Minister Navin Ramgoolam announced that the agreement with the UK to transfer sovereignty of the Chagos Islands signifies the completion of the nation’s decolonization process. The UK will retain control over the Diego Garcia military base through a 99-year lease.

Kenya’s Foreign Minister defended the country’s involvement in the extradition of Ugandan opposition figure Kizza Besigye, stating that bilateral trade relations were at stake. The incident has raised concerns about human rights and the rule of law in the region.

On May 22, 2025, Nigeria’s ruling All Progressives Congress (APC) officially endorsed President Bola Tinubu to seek re-election in the 2027 presidential race. Tinubu, aged 73, won the controversial 2023 election, which opponents unsuccessfully challenged in court. The APC praised Tinubu’s economic reforms, including the elimination of fuel subsidies and currency liberalization, claiming they revitalized Nigeria’s economy. These reforms have been welcomed by international financial bodies and investors; however, they have also triggered a severe cost-of-living crisis, drawing domestic criticism. At an APC summit in Abuja marking two years of Tinubu’s presidency, the party declared him the sole APC candidate for the next election. While Tinubu’s tenure has faced criticism for failing to resolve ongoing security issues, including Islamist insurgencies and criminal banditry, the fragmented opposition and recent defections to the APC potentially strengthen his re-election prospects. Tinubu expressed confidence in further defections, indicating political momentum in his favor. Nigerian presidents are constitutionally limited to two four-year terms.