Monday, 18th March 2019


Articles related to economy

South Africa's Eskom ups power cuts as storm hits Mozambique imports

South African state utility Eskom stepped up rolling blackouts on Saturday as it lost 900 megawatts of electricity imports from neighbouring Mozambique, which was hit this week by a cyclone.

Eskom, which generates nearly all of the power for Africa’s most industrialised economy, said that it had cut 4,000 megawatts, double the 2,000 MW it had said…

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World Bank, AfDB commit $47 bln to African climate finance

The World Bank and the African Development Bank will together commit more than $47 billion by 2025 to help African countries tackle the effects of climate change, the banks said on Thursday.

Many countries on the continent, especially those on the coast, are among the most vulnerable to the effects of climate change such as rising sea levels and…

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World Bank to lend Angola $1 billion

The World Bank will lend Angola $1 billion to fund social security and water projects, the president’s office said on Wednesday. 

Angola, Africa’s second largest oil producer, has been pushed into an economic crisis by the fall in oil prices since mid-2014. 

Alongside a $500 million loan agreed earlier, which Angola is set to receive this year, the…

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No SA bailout for Zim after Ramaphosa visit

President Cyril Ramaphosa concluded a much-anticipated visit to Zimbabwe on Tuesday, dashing any lingering hopes that his country would bail out its economically-troubled neighbour.

Ramaphosa commended the new administration of Emmerson Mnangagwa for its bid to revive the economy and promised to explore a number of options of financial help.


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South Africa's rand inches higher ahead of ECB policy review

South Africa’s rand edged higher in early trade on Thursday as investors put off big calls on risk assets ahead of the European Central Bank’s (ECB) policy review later in the session.

At 0630 GMT, the rand was 0.11 percent firmer at 14.2500 per dollar, compared to an overnight close of 14.2700.

The market was quiet in Asian trade as investors eyed…

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