Thursday, 18th October 2018


Articles related to economy

China's Xi inks deals in Rwanda on whirlwind tour

China's President Xi Jinping inked 15 deals including loans and grants worth millions of dollars with Rwanda on Monday as part of a whistlestop tour to cement relations with African allies.

Among the deals agreed, the value of which was not revealed, were loans for road construction, hospital renovation and the development of Rwanda's new Bugesera…

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Namibia nets $218 million loan from African Development Bank

Namibia secured a $218 million loan from the African Development Bank, the second tranche of a quarter billion dollar facility from the development lender to help the country finance its budget deficit, the finance ministry said on Thursday.

The southern African nation’s economy contracted in the final two quarters of 2017, and by 0.1 percent in…

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South Africa's rand firmer ahead of mining, manufacturing data

South Africa’s rand gained on Thursday, reversing the previous session’s slide, as some traders picked up the currency at the current level, assuming the trade conflict between the United States and China would lead to another spell of risk aversion.

At 0700 GMT the rand was 0.44 percent firmer at 13.4875 per dollar, having touched a low of 13.5100…

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Liberia's Weah takes steps to tackle inflation, poverty

Liberian President George Weah said on Monday he would take measures to tackle rampant inflation and poverty, including injecting $25 million into the forex market and taking steps to bring more local cash into the formal banking system.

 “I am fully aware of the negative impact of the declining exchange rate on the economic well-being of the…

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Zambia says debt restructuring will not disrupt Chinese projects

Zambia will be careful to ensure its planned debt restructuring does not disrupt Chinese-financed projects, President Edgar Lungu said on Wednesday, after China’s ambassador to the southern African nation sought clarification on the matter.

China is a leading financier of infrastructure projects in Zambia, Africa’s No.2 copper producer, including…

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