Africa > Economy

Economy in Africa

  • Sudan seeks to revive economy after US sanctions end

    SUDAN, 2017/11/29 Khartoum businessmen say they have begun closing deals with US companies next Washington lifted 20-year-old trade sanctions. Sudan's government and its businesses have begun introducing financial reforms and lobbying for new investment to revive the economy next Washington lifted 20-year-old trade sanctions before this month. Sudan has suffered both from the sanctions and from the secession of the south in 2011, at the same time as it lost three-quarters of its oil output, its major source of foreign currency.
  • Egypt economy likely to remain unshaken by Sinai attack

    EGYPT, 2017/11/29 The mosque attack in Egypt's Sinai may only strengthen the view that the country needs continued IMF support as agreed a year ago and the economy is likely to quickly shake off any negative repercussions, economists say. Gunmen carrying the flag of Islamic National killed additional than 300 worshippers in the attack on the mosque, the worst such attack by militants in Egypt's modern history.
  • Zimbabwe's economic situation "very difficult" - IMF

    ZIMBABWE, 2017/11/27 Zimbabwe’s economic increase is threatened by high government spending, an untenable foreign exchange regime and inadequate reforms, a senior International Monetary Fund (IMF) official said. Zimbabwe was once one of Africa’s most promising economies but suffered decades of decline as former President Robert Mugabe pursued policies that included the violent seizure of white-owned commercial farms and money-printing that led to hyperinflation. Mugabe, 93, resigned on Tuesday next nearly four decades in power following pressure from the military, the ruling ZANU-PF party and the general people.
  • Under the Radar: Why savvy investors should take a look at Côte d’Ivoire

    CôTE D'IVOIRE, 2017/11/27 Côte d’Ivoire is a frontier market often overlooked by multinationals as a viable investment opportunity. Here are some brief reasons why investors with a risk appetite should start paying attention. Growing political stability Côte d’Ivoire is no stranger to violence and political instability. On December 24, 1999, the country suffered its first ever coup d’état at the hands of a military junta led by General Robert Guéï. In October of the following year, Guéï attempted to legitimize his rule by holding an election.
  • The challenges to reform in post-coup Zimbabwe

    ZIMBABWE, 2017/11/27 Mugabe’s undoing came next he , Vice President Emmerson Mnangagwa, from the ruling Zimbabwe African National Union-Patriotic Front (ZANU-PF) Party. Mnangagwa had been locked in a succession struggle with Mugabe’s wife, Grace Mugabe, and the sacking triggered the military’s intervention. A volatile situation called for calmallegedly pacifying a degenerating economic, political and social situationBoth the Southern African Development Community (SADC) and the African Union (AU) saying they will not support any government that comes to power via a coup d’état. This likely underlies the military’s determination to avoid that term.
  • Should developing countries fear the impact of automation on jobs?

    WORLD, 2017/11/15 Fears of technology-induced unemployment have penetrated media headlines and policy discourse in both advanced and developing countries.
  • Small firms the focus as Nigeria launches action plan to improve business conditions

    NIGERIA, 2017/11/11 Nigeria is moving forward with strategies to improve the business and investment environment in the country following the launch of a new package of reforms designed to support small businesses and clear hurdles to increase. On October 3 the federal government unveiled its second 60-day national action plan (NAP 2.0) – which forms part of the broader Economic Recovery and Increase Plan 2017-20 – aimed at increasing levels of employment, boosting GDP and facilitating business expansion. Targets of the NAP 2.0 include the adoption of electronic registration processes for new businesses; the registration of 300 microfinance banks to the national registry to assist with SME financing; and the elimination of illegal roadblocks on major trading routes across the country.
  • More funding in the pipeline as Egypt’s economic reforms yield results

    EGYPT, 2017/11/11 Egypt is continuing its programme of fiscal consolidation, exchange rate liberalisation and pro-investment reform, with the country expected to receive an extra multibillion-dollar tranche of funds from creditors following a year-end review. In September the IMF released a statement stating that Egypt had made a “good start” to its $12bn loan transaction, with the fund noting that reforms had helped boost increase, rein in the budget deficit and eliminate foreign currency shortages that were before putting pressure on a lot of businesses.
  • Côte d’Ivoire prime minister looks to maintain peacetime profitability

    ABIDJAN, 2017/10/31 Beset by civil war in recent times, Côte d’Ivoire has presently emerged as one of Africa’s fastest growing economies. The country's prime minister and minister of budget and national portfolio, Amadou Gon Coulibaly, tells James King why Côte d’Ivoire can be relied upon in a political sense, and how he plans to maintain its levels of foreign investment .
  • Africa’s Growth: Nobel Laureate Joseph Stiglitz Calls For New Strategy

    BOTSWANA, 2017/10/19 Joseph Stiglitz has advised African nations to adopt coordinated strategy encompassing agriculture, manufacturing, mining, and service sectors to attain same success delivered by the old manufacturing export-led strategy. Prof. Stiglitz, an economist and professor at Columbia University, New York, gave the advice at the Babacar Ndiaye lecture series introduced by African Export-Import Bank (Afreximbank) which debuted in Washington D.C.