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Sunday, 14th August 2022
2:57:17am

Economy

Articles related to economy

Ethiopia starts power generation from second turbine at mega-dam

Ethiopian Prime Minister Abiy Ahmed kickstarted electricity production from the second turbine at its controversial mega-dam on the Blue Nile on Thursday, despite continuing objections by Egypt and Sudan over the project.

Abiy also confirmed that a third filling of the multi-billion dollar Grand Ethiopian Renaissance Dam (GERD) was under way, a…

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Ghana doubles IMF funding target to $3 billion

Ghana is expecting to receive $3 billion dollars over three years from the International Monetary Fund, if an agreement on a program is reached, international news agency, Bloomberg reported.

Bloomberg reported that the loan requested was double the amount of $1.5 billion the west African nation was requesting a month ago.

According to the news…

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Zimbabwe starts selling gold coins

The Reserve Bank of Zimbabwe (RBZ) started selling gold coins on Monday to individuals and institutional buyers.

A coin was selling for $1,823.80 or ZW$805,745.35 plus 5% to cover the cost of production and distribution.

The price is based on the prevailing international price of gold.

The central bank said buyers will be required to hold them for…

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IMF could unlock a $1.3bn fund for Zambia

Zambia should soon access a 1.3 billion dollars IMF-support fund. The bailout was validated just after the southern African nation's creditors agreed to provide him debt relief.

The committee of creditors co-chaired by China and France announced on Saturday they were ready to negotiate the restructuration of Lusaka's crushing debt load. IMF's…

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Egyptian small-scale farmers struggle to survive

Egyptian smallholders may have a major role in feeding the country's 103 million population, they are still struggling to survive. Many say they are facing difficulties to sell their harvests on markets and end up being cash-strapped and indebted.

Such as Zakaria Aboueldahab, who grows onions in Qalyubia, in the north of the country."Farmers are…

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