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  • Zimbabwe govt moots $100 transport advance as salaries delay

    ZIMBABWE, 2016/07/05 Cash strapped Zimbabwean government has announced a $100 pay advance for civil servants in lieu of transport as they wait for June salaries to be paid in a two weeks time. The Zimbabwe Herald reports that the current transport stipend does not include the Army and Airforce who were paid on Monday. It would as well not apply to prison officers who are expected to pick their salaries on Thursday. According to Public Service, Labour and Social Welfare Minister, Prisca Mupfumira, the all would be ready to be paid out by Friday next conference representatives of labour groups.

  • Tanzania’s economy is expected to grow by 20 basis points to 7.4 % in 2017.

    TANZANIA, 2016/07/04 Tanzania’s economy is expected to grow by 20 basis points to 7.4 % in 2017. According to the country’s central bank, this increase will be driven by construction, communications and finance. The country is experiencing increased real estate development for residential and non- residential purposes and building of road networks. “Construction has been the major contributor to increase for the completed two years contributing 23.9 % and 18.8 % in 2015 and 2014, respectively,” noted the bank in its monetary policy satement

  • Mozambique government wants to increase financial inclusion of the population

    MOZAMBIQUE, 2016/05/17 The government of Mozambique plans for 35 % of adults, by 2022, to have access to a bank account at a formal financial institution and that 75 % of districts will offer banking services, according to a newly approved strategy paper. The document – National Strategy for Financial Inclusion (2016/22) -sets out world goals to be completed during the reporting period inclunding the actions to be undertaken by different actors in the economy.

  • Strong or weak: A look at Africa's economy

    AFRICA, 2016/05/13 At the Africa conference of the World Economic Forum (WEF), currently being held in Rwanda's capital Kigali, participants expressed their optimism about the continent's economic next, writes DW's Manuela Kasper-Claridge. Why is it that there are 10 times as a lot of negative news stories coming out of Africa as there are positive ones? Participants in a background talk on Thursday were at a loss, expressing views of a skewed world perception of Africa to biased or unfair media coverage of the continent. The discussion about Africa's image in the world quickly turned emotional because the World Economic Forum participants were rejecting talking only about Africa's weaknesses. Rather, they wanted to focus on the continent's strengths, too.

  • South Africa’s economy sinks to third largest in Africa

    SOUTH AFRICA, 2016/05/12 The International Monetary Fund (IMF) suggests that Egypt has overtaken South Africa as the second major economy in Africa. South Africa has been known as the continent’s second-major economy since Nigeria rebased its gross domestic product (GDP) data in early 2014. However, the IMF World Economic Outlook (WEO) released in mid-April provided additional sobering GDP statistics for South Afric, writes financial services firm, KPMG in a blog. Not only did the multilateral organisation suggest that the South African economy would grow by a mere 0.6% this year, but as well that the country is presently only the third-major economy on the continent behind Nigeria and new silver medalist Egypt.

  • Africa’s economic growth is likely to be slower in the intervening years

    BOTSWANA, 2016/05/12 Africa’s economic increase is likely to be slower in the intervening years than in the before decade, according to the new rating by Ernst & Young using a barometer to gauge the level of appeal and success.“The baseline projection of the International Monetary Fund (IMF) for 2016 is presently reduced to 3%, while it was estimated at 6.1% in April 2015″, Ernst & Young points out in its rating.

  • Opportunities for African companies to do business with Chinese counterparts

    CHINA, 2016/05/10 China’s influence in Africa has grown rapidly over the last decade. Although China’s economy is not growing as fast as it did in recent years, the Asian superpower remains completely visible in a lot of parts of the continent. Traditionally, China-Africa economic activities have focused on government-to-government relations. But engagement between private sector entities is picking up, says Jinghao Lu, project director at the Sino Africa Centre of Excellence (SACE) Foundation, an organisation seeking to improve China-Africa relations. SACE Foundation has been conducting surveys on Chinese companies operating in a number of African nations. It has as well been working with Kenyan SMEs that want to sell to Chinese companies operating in Africa.

  • Standard & Poor’s said Cabo Verde’s reputation as one of the most stable countries in Africa

    CAPE VERDE, 2016/05/04 Cabo Verde (Cape Verde), which is seen by analysts and the international community as a “safe haven” part Portuguese-speaking nations due to economic and political stability, is presently at the beginning of a new term of office for the government, keen to improve the business climate. The revival of private investment – both domestic and foreign – was set by the new Prime Minister of Cabo Verde, Ulisses Correia e Silva, as the primary objective of the action of his government, according to the Africa Intelligence Monitor newsletter. To facilitate its implementation, said the same publication, policy, fiscal and other measures are due to be improved any minute at this time to improve the country’s business climate. The slowdown of the economy, and particularly its negative effects on investment and job creation negatively affected the previous government during the elections.

  • Economic dispute between Nigeria, South Africa still unresolved

    SOUTH AFRICA, 2016/04/16 Africa’s two economic giants are trying to patch up their frayed relations, but a long-anticipated high-level visit has failed to solve the business disputes that have damaged investment and trade between Nigeria and South Africa. The friction between the continent’s two biggest economies has come to symbolize the trade obstacles that have hobbled Africa’s increase. And the biggest dispute – Nigeria’s shocking decision to impose a $3.9-billion (U.S.) fine against South African cellphone company MTN – is still far from being resolved.

  • The need for better economic data in Africa

    AFRICA, 2016/04/16 The African economy is poised to become the fastest growing economy in the world over the next five years. Unfortunately, the American government, the world foreign aid community and business interests around the world have no meaningful, reliable or easily accessible way in which to monitor this increase. It is time that the U.S. federal government begins to play a additional active role in fostering the development of capabilities with which economic data from emerging markets can be additional easily analyzed.
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