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Africa

No plain sailing for Zim, but finance minister cautiously optimistic

Mar 20 2019 06:02

Zimbabwe Finance Minister sees inflation – currently at 59% – declining to 10% by the end of the year, banking on slowing down money supply, liberalisation of the exchange rate and other broader economic reforms.

Africa

Zim businesses start to count the cost of Cylone Idai

Mar 19 2019 10:19

Following a tropical cyclone that tore through the eastern parts of Zimbabwe, the southern African country is weighing up the loss of life and the impact of the damage to infrastructure such as roads, bridges and business.

Africa

Whats in a name? All you need to know about Zim's new currency

Mar 15 2019 19:46

In February, Zimbabwe introduced a new currency called the RTGS, or real-time gross settlement dollar, in the process abandoning its long held 1:1 parity between the US dollar and its local transactional instrument - the bond note.

Africa

Zimbabwe miners to pay 80% wage increase

Mar 14 2019 20:18

Zimbabwe mining companies – which include units of Anglo Platinum, Impala Platinum and Caledonia Mining – are to award an 80% wage increase to mine workers.

Travel & Leisure

African tourism sector booming - global body

Mar 13 2019 18:28

Travel and tourism in Africa grew by 5.6% in 2018 compared to the global average of 3.9% and the broader African economic growth rate of 3.2%, says the WTTC.

Economy

Ramaphosa endorses Zim government, calls sanctions 'unjust'

Mar 12 2019 21:27

President Cyril Ramaphosa endorsed Zimbabwe's government on Tuesday, ignoring reports of human right abuses by the military to crush persistent dissent in the neighboring country.

Africa

No SA bailout for Zim after Ramaphosa visit

Mar 12 2019 17:00

President Cyril Ramaphosa concluded a much-anticipated visit to Zimbabwe on Tuesday, dashing any lingering hopes that his country would bail out its economically-troubled neighbour.

Africa

Ghana seeks $750m loan from StanChart, Standard Bank

Mar 10 2019 09:02

Ghana is in talks with Standard Chartered and Standard Bank Group for a bridge loan of $750m and will repay the facility with the proceeds of a Eurobond sale.

Economy

Nigerians elect powerful governors amid concerns over violence

Mar 09 2019 12:32

Chief of Army Staff Tukur Buratai said earlier this week some politicians planned to use bombings and other acts of violence in a bid to influence the vote and vowed that the military will take measures to contain the threats.

Economy

Zimbabwe to scrap platinum and diamond mine ownership rules

Mar 06 2019 18:49

Zimbabwean Finance Minister Mthuli Ncube said a rule requiring local investors to control platinum mines will be scrapped and foreigners will be allowed to own 100 percent in a bid to revive investment.

Africa

Ramaphosa, SADC effort comes to nought as Trump extends Zim sanctions

Mar 06 2019 12:31

Earlier this year, Ramaphosa spoke on the sidelines of the World Economic Forum, saying Zimbabwe faces "serious, serious, economic challenges and they can be assisted by the world if those sanctions are lifted."

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Economy

Foreign investors can finally take money out of Zim, but at a huge discount

Mar 04 2019 20:47

Foreign investors on the Zimbabwe Stock Exchange are likely to take a huge foreign exchange loss on their investments, but at least they can now have their money back following a new directive by the Reserve Bank of Zimbabwe.

Africa

Mozambique debt restructuring to continue as scandal grows

Mar 04 2019 16:05

Mozambique will continue with restructuring talks over $2bn of defaulted loans, the Ministry of Finance says, even as an international scandal around the debt intensifies.

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