Thursday, 9th April 2020


Articles related to economy

S.Africa keeps rates on hold as inflation risks balanced

South Africa’s central bank kept its repo rate unchanged at 6.5% in a close decision on Thursday, saying it wanted to see inflation expectations closer to the midpoint of its target range, despite a sustained drop in headline inflation.

Three members of the central bank’s monetary policy committee had preferred to keep the repo rate on hold and two…

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Zimbabweans get new banknotes, but angered by withdrawal limits

Zimbabweans finally got access to new low-denomination currency on Tuesday that authorities hope will end chronic cash shortages, but banks maintained an existing weekly withdrawal limit of $20, frustrating many customers.

The new 2 and 5 Zimbabwe dollar notes and coins were scheduled to start circulating on Monday but failed to appear on time,…

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Some Nigerians blame government, not religious leaders, for shocking school abuses

The first thing 15-year-old Burhani saw when he arrived at an Islamic reformatory school in October was rows of youths and young men sitting on a courtyard floor, naked, bleeding and in chains.

His father had sent him to the school, famous across northern Nigeria for correcting bad behaviour, because he had been getting into fights and stealing, he…

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Zambia's president vows to contain debt within sustainable levels

Zambia is committed to ensuring that debt is contained within sustainable levels through continued austerity measures, President Edgar Lungu said on Friday.

Zambia, Africa’s No.2 copper producer is struggling with high debt levels and shrinking foreign currency reserves, and the International Monetary Fund (IMF) has said growth is likely to remain…

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Kenya's president finalises removal of rate cap for banks

Kenya’s President Uhuru Kenyatta has signed a law that scraps a cap on banks’ commercial lending rates which had been blamed for stalling lending to businesses, his office said on Thursday.

The government and the country’s banks had blamed the cap, which the government imposed in 2016 to curb high interest rates, for constricting private sector…

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