Wednesday, 8th April 2020


Articles related to economy

IMF sees higher Nigeria inflation in 2020 on minimum wage, tax rises

Nigeria’s government may drive up inflation when it increases a sales tax to partly finance its record 2020 budget and implements a new minimum wage, the International Monetary Fund (IMF) warned.

The country, Africa’s top oil producer and the continent’s largest economy, is faced with the choice of boosting growth in the face of lower oil revenues…

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South Africa's rand firmer as 15/$ mark lures in bulls

South Africa’s rand firmed early on Tuesday, shaking off the risk aversion sparked by geopolitical tensions as Turkey said it was preparing a military operation in northeast Syria.

At 0650 GMT the rand was 0.51% firmer at 15.1100 per dollar versus a close of 15.1900 overnight in New York. 

Turkey said on Tuesday it had completed preparations for a…

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South Africa's net foreign reserves fall to $44.058 bln in September

South Africa’s net foreign reserves fell to $44.058 billion in September from $44.226 billion in August, Reserve Bank data on Monday.

But gross reserves jumped to $54.856 billion at the end of September from $49.948 billion the previous month, mainly reflecting the proceeds from foreign debt issuance by National Treasury, central bank data showed.…

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Zimbabwe economy seen contracting up to 6% in 2019 -treasury document

Zimbabwe’s economy is projected to contract by up to 6% this year due to a drought that hit farming output and electricity generation but is expected to rebound next year on better agriculture prospects, a treasury document showed on Monday.

The southern African nation’s economy is grappling with its worst crisis in a decade, with triple-digit…

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South Africa, Nigeria mend relations and agree trade deals

South Africa and Nigeria signed 30 trade and cooperation agreements on Thursday, weeks after a wave of violence against Nigerian nationals in Johannesburg and Pretoria had strained relations between Africa’s top two economies. 

In September, mobs armed with makeshift weapons attacked businesses and homes owned by foreigners, leading to at least…

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