New Zimbabwe currency to be backed up with fiscal discipline
Finance Minister Mthuli Ncube recently said that the new Zimbabwe currency will be backed up with fiscal discipline. According to Ncube, the government will allow the new Zimbabwe currency – Real Time Gross Settlement (RTGS) dollar; to fluctuate but would … Read More
Germany and Egypt to partner more because of Egypt’s open economy and policies.
Egypt’s open economy progress is commendable says Germany. This is according to Thomas Bareiß; German’s parliamentary state secretary at the Federal Ministry for Economic Affairs and Energy @ BMWi bund.
To further strengthen mutual links … Read More
Uganda’s mobile money platform will help attract debt investors.
Uganda is planning to use mobile money platforms to sell government securities to its citizens. The government said the mobile money platform will help reduce the dependence on commercial banks and institutional investors for funding.
The Ugandan government also believes the … Read More
Zimbabwe’s mines minister seeks to address foreign currency shortage in the country.
On Monday, 04 January 2019, Zimbabwe’s mines minister Winston Chitando said, soon introduction of monetary policy tools will help address foreign currency shortage affecting mining companies.
Lack of funds in the economy, has hurt mining companies including the … Read More
Rwanda calls for African partnership to help boost African economy.
Rwanda, the landlocked East African country recently held a Trade Facilitation and Manufacturing forum in Kigali. At the forum, Rwandan top officials stressed on the need for deeper African partnership especially between its fellow East African neighbours. The Forum served … Read More
LCCI advocates for increased private investments in Nigeria economy.
President of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Ruwase, said Nigeria economy is in need of private investments. These investments will help create jobs, diversify the economy and also improve the welfare of the country’s inhabitants.
He … Read More
Rwanda and Alibaba sign an electronic world trade platform (eWTP) agreement to help boost economy.
The Rwandan government and Alibaba Group, a leading international online commerce company; have signed three (3) Memoranda of Understanding (MoU) to help boost the country’s economy.
Under the agreement, Alibaba have also established an electronic … Read More
Ghana to receive grant from Germany to support four broad areas of its economy.
To support four broad areas of Ghana’s economy, Germany has announced a grant of €86.5 million. The approval for the grant came after a bilateral negotiations in Accra last week.
The grant will support reforms and … Read More
South Africa have acquired US$35 billion out of the US$100 billion it needs for reviving its economy.
South Africa have received investment pledges of about US$35 billion as part of its plans to attract US$100 billion. The US$100 billion is for reviving the country’s economy.
The South Africa president Cyril … Read More
Ghana’s earnings from oil exports exceeds that of cocoa for the first time.
According to current figures from Ghana’s central bank, revenue from oil have surpassed revenue from cocoa for the first time. Since January this year the country have made more money from the Oil sector than the Cocoa … Read More
Nigeria explore opportunities to strengthen economic ties with Germany
The Delegation of German Industry and Commerce (DGIC) in Nigeria is collaborating with Nigeria-German Business Association (NGBA) and also the German-African Business Association (Afrika-Verein der Deutschen Wirtschaft) to explore new investment opportunities that will help strengthen economic ties between Nigeria and … Read More
Ethiopia to become 2018 Africa’s fastest growing economy.
Latest IMF forecasts reveals that Ethiopia will overtake Ghana as the fastest growing economy in 2018. Bretton Woods institution data shows that Ethiopia will record an 8.5 percent growth rate. This will eventually surpass Ghana’s 6.3 percent growth rate.
According IMF, entry … Read More
Wema Bank gets US$35m Line of Credit to support SMEs.
Wema Bank Plc have secured a line of credit (LOC) from international lenders. The LOC is specifically to grow financial support for small and medium scale enterprises (SMEs) in Nigeria.
The bank received US$15 million and US$20 million from African … Read More
Quarterly meeting held by Ghana’s Central Bank’s Committee on Monetary Policies to review the country’s economy.
Bank of Ghana committee on monetary policies met on the 19th of January 2018 for its quarterly meetings to review Ghana’s economy. The meeting which is the first for this year will be concluded … Read More
Nigeria moves up in World Bank Business ranking
According to World Bank 2018 reports, it has been confirmed that Nigeria have moved from 169th to 145th in the world’s ease of doing business ranking.
Other countries who also improved their business environment through numerous reforms includes; El Salvador, India, Malawi, … Read More
Gabon commissions new port to accommodate more vessels.
In a bid to revamp its ports, Gabon have commissioned a new port harbor which is estimated to have cost US$ 300 million.
The port which took about 18 months to complete and was constructed in partnership with a Singapore company Olam … Read More
Ghana’s Vice President, Dr. Mahamudu Bawumia while Speaking at his hometown in Tamale in the Northern Region of Ghana disclosed that thecountry will allocate GH1 billion to sustain the free Senior High School (SHS) programme in its 2018 budget.
Dr. Bawumia said the amount will ensure that more students get … Read More
Economic growth in South Africa looks set to remain behind the rate of population growth for four years ending in 2018, ensuring that more people will be poor. As things stand 40 percent of South Africans are chronically poor and a further 40 percent are what economists call the temporally … Read More