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Wednesday, 8th April 2020
12:30:15pm

Economy

Articles related to economy

Rwanda GDP to grow 8% in 2020 -IMF

Rwanda’s economy is expected to grow by 8% this year and in 2021 versus an estimated 8.5% in 2019, boosted by private investment and trade, the International Monetary Fund (IMF) said.

The small East African nation’s economy relies largely on agriculture, tourism and mining. The government also forecasts it will grow 8.5% in 2019.

It grew 11.9% in…

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South Africa will embrace private power generation, Ramaphosa says

South Africa will embrace efforts by businesses to generate their own electricity, President Cyril Ramaphosa said on Tuesday, reacting to growing frustration at red tape throttling private power generation.

Ramaphosa is under pressure over nationwide power cuts that have dented economic output and sapped investor confidence in Africa’s most…

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Uganda to borrow 600 million euros to plug 2019/20 budget deficit

Uganda plans to borrow 600 million euros ($661 million) from international banks to plug a hole in its 2019/2020 budget after domestic revenue collections fell short by 9%, amid delays in implementation of some planned tax-generating measures.

The move could heighten concerns about the East African country’s growing debt pile which the…

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S.Africa's Eskom chair resigns after power cuts during holidays

The chairman of struggling South African state-owned utility Eskom, Jabu Mabuza, resigned on Friday after apologising for failing to halt power cuts over the Christmas and New Year public holidays, President Cyril Ramaphosa’s office said.

Eskom implemented severe nationwide power cuts in several bursts last year and again sporadically this week,…

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China accuses Zimbabwe of understating developmental support

China has accused the Zimbabwean government of understating the extent of its bilateral support, after budget figures released last week ranked China lowly against other countries.

Finance minister Mthuli Ncube said last week that China had provided Zimbabwe with US$3.6m in "development support" ranking it below the United States and UK, who both…

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