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Africa

What Africa’s key central banks will discuss in the next 10 days

Jul 16 2019 13:37

Central banks in sub-Saharan Africa’s key economies will take direction from US Federal Reserve Chairman Jerome Powell when they make calls on interest rates in the next 10 days.

Africa

Zambia President fires Finance Minister, replaces her with deputy governor

Jul 15 2019 15:46

Zambian President, Edgar Lungu, has fired the country’s Finance Minister and replaced her with the central bank's deputy governor responsible for operations.

Africa

Zim’s annual inflation rate doubles in June to 176%

Jul 15 2019 10:28

Zimbabwe’s inflation rate almost doubled in June from the previous month. Annual inflation accelerated to 175.7% from 97.9% in May, the statistics office said in an emailed release on Monday. Prices rose 39.3% in the month.

Economy

Nigeria vs. South Africa: Economic rivalry shifts to soccer pitch

Jul 10 2019 18:17

The rivalry between Nigeria and South Africa goes well beyond the sports field, as the two teams gear up to meet in the quarter-finals of the Africa Cup of Nations.

Africa

GE, Power China win contract for dam on Zambia, Zimbabwe border

Jul 14 2019 08:00

Both Zambia and Zimbabwe are facing a power crisis as a drought has reduced water levels to 27% at Lake Kariba, the world’s largest man-made reservoir, a key power source for the two countries.

Africa

Zimbabwe can’t pay for imports, narrows trade deficit

Jul 10 2019 22:01

Zimbabwe's trade deficit has narrowed to $332m for the five months to May as the southern African country battles to pay for key imports such as electricity and fuel.

Economy

Factories will benefit most from free trade pact - African Development Bank

Jul 10 2019 07:44

Africa’s free-trade pact will help shift the continent away from its over-reliance on volatile commodity exports and boost manufacturing, according to the African Development Bank.

Africa

Ramaphosa says he will discuss Zim's energy woes with Eskom

Jul 09 2019 09:09

Zimbabwe started implementing rotational load shedding in May, due to a combination of low water levels at Kariba Dam's hydroelectric power plant, generation constraints at ageing power stations and limited foreign imports.

Africa

Landmark AU trade pact keeps growing as Benin, Nigeria join

Jul 08 2019 08:20

A landmark free-trade agreement removing most tariffs and other commercial barriers in the African continent grew to encompass 54 signatories, after Benin and Nigeria signed up to the accord on Sunday.

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Africa

Nigeria orders banks to loan more money

Jul 04 2019 16:47

In an effort to boost economic growth in Africa’s most-populous country, Nigeria is giving its banks a choice: lend more money, or hand it over to the central bank and earn nothing on it.

Africa

Zim businesses reduce prices after government threats

Jul 04 2019 14:57

Zimbabwean businesses have started to reduce prices of services and commodities following threats issued by President Emmerson Mnangagwa that the government would be taking measures to enforce price reductions.

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