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Thursday, 9th April 2020
3:11:23am

Economy

Articles related to economy

S.Africa pumps-up liquidity, mulls shorter trade hours to ease coronavirus strain

South Africa’s central bank announced a raft of emergency liquidity measures on Friday to ease the stress on banks caused by the coronavirus outbreak, while the stock exchange regulator may take its own steps as surging volatility tests financial stability.

The head of the Johannesburg Stock Exchange (JSE), which is Africa’s biggest and one of…

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S.Africa's Ramaphosa makes case for curbing public wage bill

South African President Cyril Ramaphosa said on Monday focused discussions would be needed between the government and trade unions to slow the rate of growth in public sector wages.

His comments in a weekly newsletter to the nation signalled support for a proposal by Finance Minister Tito Mboweni to make 160 billion rand ($10.3 billion) of cuts…

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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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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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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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