Economy
Madagascar Loses $1.5b Annually

**Seeks Support, Investment to Fight Chronic Malnutrition
By Modupe Gbadeyanka
The results of a new Cost of Hunger in Africa (COHA) study indicate that Madagascar’s economy loses $1.5 billion per year – the equivalent of 14.5 percent of the country’s Gross Domestic Product (GDP) – to the effects of malnutrition.
The COHA study is a project led by the African Union Commission and the New Partnership for Africa’s Development (NEPAD), developed with the support of the United Nations Economic Commission for Africa (UNECA) and the World Food Programme (WFP). The findings highlight the extent of social and economic losses caused by child malnutrition in a given country.
Mrs Hawa Ahmed Youssouf, the African Union Commission Representative in Madagascar, today officially presented the study report to the Prime Minister and Head of Government of Madagascar, Olivier Mahafaly Solonandrasana.
During the ceremony held in Antananarivo, the Prime Minister expressed his concern about the alarming levels of chronic malnutrition in the country. In Madagascar, 47 percent of children under the age of five are affected by stunting (low growth for age).
“Madagascar has the fifth highest rate of stunting in the world,” said the Prime Minister. “The results of the Cost of Hunger study confirm the urgency of mobilizing more resources and investment to reduce the level of malnutrition and its impact. This is one of the priorities of the National Development Plan. I call on our multi-sectoral partners to join us in this endeavor.”
Under the leadership of the Prime Minister, the COHA study in Madagascar was conducted by the National Implementation Team (composed of 14 agencies and ministries) with the support of the United Nations and financial partners.
“The study aims to enhance African governments’ awareness of child malnutrition and of the fact that this is not only a health and social issue, but one of major economic concern,” said Mrs Youssouf. “The African Union supports this initiative in Madagascar because we know that the government is committed to fighting malnutrition.”
Madagascar is the tenth country in Africa to have conducted the COHA study, after Burkina Faso, Chad, Ghana, Ethiopia, Lesotho, Malawi, Uganda, Rwanda and Swaziland. The process has revealed that African economies are losing between 1.9 and 16.5% of GDP to child malnutrition.
The official launch of the Madagascar report was followed by a presentation of the ‘MIARO’ integrated project on nutrition and maternal and child health, which aims to prevent chronic malnutrition among children aged 6 to 23 months and pregnant and nursing women, while improving women’s access to reproductive health services in the south of the country.
The COHA launch comes as the south of Madagascar suffers the effects of drought, exacerbated this year by the El Niño weather event.
In November, WFP assisted one million people through general food distributions, cash transfers and nutritional support for the prevention and treatment of moderate acute malnutrition.
WFP’s ability to maintain this level of assistance over coming months will depend on the availability of funding for its operations.
Malnutrition is a condition resulting from nutrient deficiencies often associated with food insecurity, poor health, poor hygiene and sanitation, and poverty.
It should be noted that in Madagascar, in spite of the climactic challenges, particularly in the south, food is available in the markets.
However, access to it is often an issue because of the high levels of poverty among more vulnerable households.
Another factor is that good nutritional practices are not yet sufficiently established among the population.
In Madagascar, 47 percent of children under 5 suffer from chronic malnutrition (or stunting).
About 9 percent of children under 5 years of age across the country suffer from acute malnutrition (or wasting), although the southern part of the country is more severely affected with frequent spikes in malnutrition rates.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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