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Thursday, 20th February 2020
4:09:30am

Economy

Articles related to economy

Botswana auctions permits to hunt elephants to ease human-wildlife conflict

Botswana auctioned six licences on Friday to hunt a total of 60 elephants, the first to be allowed in the southern African country since President Mokgweetsi Masisi lifted a five-year ban on big game hunting last May.

Africa’s overall elephant population is declining due to poaching but Botswana, home to almost a third of the continent’s elephants,…

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Zimbabwe public workers accept 140% pay hike, seek more

Zimbabwe’s public sector workers have accepted a 140% salary hike starting this month, a union official said on Wednesday, averting a potential strike against President Emmerson Mnangagwa’s government.

Soaring inflation has eroded salaries and savings in the southern African nation, which is grappling with its worst economic crisis in a decade,…

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Rwanda GDP to grow 8% in 2020 -IMF

Rwanda’s economy is expected to grow by 8% this year and in 2021 versus an estimated 8.5% in 2019, boosted by private investment and trade, the International Monetary Fund (IMF) said.

The small East African nation’s economy relies largely on agriculture, tourism and mining. The government also forecasts it will grow 8.5% in 2019.

It grew 11.9% in…

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Kenyan central bank cuts key lending rate to 8.25%

Kenya’s central bank monetary policy committee cut its benchmark lending rate to 8.25% on Monday from 8.50%, saying the economy was operating below potential and there was room for a more accommodative monetary policy. 

The bank cut the benchmark rate in November by 50 basis points, the first cut after holding it for seven straight meetings. 

“The…

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South Africa will embrace private power generation, Ramaphosa says

South Africa will embrace efforts by businesses to generate their own electricity, President Cyril Ramaphosa said on Tuesday, reacting to growing frustration at red tape throttling private power generation.

Ramaphosa is under pressure over nationwide power cuts that have dented economic output and sapped investor confidence in Africa’s most…

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