Thursday, 9th April 2020


Articles related to economy

South Africa to finalise growth strategy "within next few weeks" - Ramaphosa

The South African government will finalise a clear economic growth strategy within the next few weeks, President Cyril Ramaphosa said on Monday, as the country aims to boost confidence in an economy facing lower growth and job cuts.

Investor confidence in Africa’s most industrialised economy is fragile, with the economic growth outlook clouded by a…

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Congo GDP growth to slow slightly to 5.4% in 2020 - govt statement

Democratic Republic of Congo’s economic growth is expected to slow slightly in 2020 to 5.4%, according to a government budget proposal published on Sunday.

The Central Bank in April predicted gross domestic product (GDP) would grow by 5.9% in 2019, though the International Monetary Fund expects growth this year of 4.3% because of lower copper and…

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Kenya central bank says banking sector consolidation to continue

Kenya central bank governor said on Tuesday ongoing consolidation in the banking sector will continue.

“We are not done yet,” Patrick Njoroge told a news conference, adding that the market-driven consolidation was working.

There has been significant consolidation among Kenyan banks since two mid-sized lenders were closed due to liquidity problems,…

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IMF: Zimbabwe has the highest inflation rate in the world

Annual inflation in Zimbabwe was 300 percent in August, according to new data released by the International Monetary Fund (IMF). At that level, the troubled southern African nation's inflation rate is the highest in the world.

Annualised inflation in Zimbabwe was measured at 175.66 percent in June, up from 97.85 percent in May. In a statement released…

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Zimbabwe central bank tightens rules for currency exchanges

Zimbabwe’s central bank has tightened the rules governing the trade of foreign currency by money exchange offices with immediate effect.

The rates offered by exchange offices must be 7% above or below the interbank mid-rate, the central bank said in an emailed statement. Failure to comply would result in either heavy financial penalties or license…

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