Economy

Jun 09, 2017
Uganda will increase spending by 10 percent in the fiscal year starting next month to 29 trillion shillings ($8.09 billion) to support flagging economic growth, its finance minister said in…
Jun 07, 2017
Global oil traders Vitol and Gunvor are interested in buying Mozambique's struggling state-owned fuel distributor Petromac, local media reported on Wednesday. An executive at Switzerland-based Gunvor and a senior investment…
Jun 07, 2017
Kenya will offer $750 million in guarantees to Kenya Airways' existing creditors to help the heavily-indebted carrier secure financing from other sources to complete its recovery, a cabinet document showed…
Jun 07, 2017
South Africa has been rocked by news that it has slipped into a recession after its gross domestic product (GDP) declined 0.7% during the first quarter of 2017 after contracting…
Jun 06, 2017
South Africa’s economy fell into a recession for the first time since 2009 after it contracted for a second straight quarter in the first three months of the year as…
May 22, 2017
Zimbabwe’s President Robert Mugabe last week officially launched the start of work on the dualisation of the Harare-Beitbridge highway for $984 million. The highway is Zimbabwe’s busiest and most economically…
May 21, 2017
The World Bank will lend Zambia $600 million under its International Development Assistance (IDA) programme over the next three years, the southern African nation's presidency said on Friday. Presidential spokesman…
May 19, 2017
South Africa, a net importer of refined oil products, is looking to West Africa and the Middle East, including Iran, for potential partners on a new refinery project, energy ministry…
May 19, 2017
Nigeria's record 7.44 trillion naira ($23.62 billion) 2017 budget has been received by the presidency for it to be signed into law, a government official said on Friday. Ita Enang,…
May 15, 2017
Zambia has often been ignored by the international media. One reason for this neglect is that it’s been comparatively unexceptional, on a continent with more than its fair share of…
May 13, 2017
A downgrade of the South African rand's credit rating and sagging business confidence are the biggest risks to growth this year, a Reuters poll found, and would make it difficult…
May 12, 2017
Fitch ratings agency upgraded Ghana's outlook to stable on Friday and said the government was making progress in stabilizing the economy after a period of crisis. The agency kept its…
May 12, 2017
China's trade with African countries in the first quarter climbed by nearly a fifth from a year earlier, while its direct investment in the continent soared 64 percent, the Chinese…
May 12, 2017
Namibia has secured a 10 billion Namibian dollars ($750 million)loan from the African Development Bank to finance its budget deficit and infrastructure projects, Finance Minister Calle Schlettwein said on Thursday.…

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