SA firms stop Zim exports after new tax laws

2014-09-15 19:36

New duty taxes implemented by the Zimbabwean government to protect local firms have already seen some South African firms cease exports to the country.

Weak growth means rough ride for Zim consumers

2014-09-12 12:25

Zimbabwe's economy is set to notch up a paltry 1.7% growth this year as mining slows down, while new tax measures will drive up the cost of living.

Zim banks reduce lending as debt looms large

2014-09-05 14:53

Zimbabwean banks have reduced their lending as the sector is saddled with $700m in non-performing loans, making lending highly risky.

Dire economy takes $108m toll on Zim workers

2014-09-04 13:25

Zimbabwean firms are losing up to $107.5m per year in wages and productivity through mental health or stress-related absence from work, according to a survey.

Ebola a huge drain on West Africa economies

2014-08-28 09:13

Ebola is causing enormous damage to West African economies, draining scarce public funds and slashing growth by up to 4%, says the African Development Bank.

Mugabe signs China deals as Zim FDI tanks

2014-08-26 09:59

China and Zimbabwe have signed several cooperation deals as first-half foreign investment into Zimbabwe plunged 59% to $67m in the first half of this year.

Zim seeks China's aid as Mugabe meets Xi

2014-08-25 16:31

Zimbabwe's President Robert Mugabe has met with Chinese leader Xi Jinping, hoping the economic giant can help the African nation's ailing economy.

African entrepreneurs

2014-08-21 07:24

A group of entrepreneurs aim to link business owners together throughout Africa.

Connecting African entrepreneurs

2014-08-19 15:47

Entrepreneurs’ Organisation has announced its growth plans into Africa and South Africa for high-end business owners.

MTN eyes e-commerce to grow revenue

2014-08-07 14:15

Africa’s largest cellphone group is betting on rising smartphone usage to spur online shopping in the continent as part of its plans to diversify revenue streams.

US-Africa talks shift to govt corruption

2014-08-06 20:02

President Barack Obama and African leaders are discussing two key issues threatening to disrupt economic progress on the continent: security and state corruption.

US-Africa summit garners $17bn in investments

2014-08-06 07:34

African leaders have called for deeper economic ties with the US, hailing over $17bn in investment pledges at a summit as a step in the right direction.

Uganda court gay ruling may open door to aid

2014-08-04 10:14

Uganda's constitutional court has overturned an anti-homosexuality law which was condemned by Western and other donors, some of whom withheld aid in protest.

Zuma in Washington for US-Africa summit

2014-08-03 19:24

President Jacob Zuma and a ministerial delegation will spend three days in the United States trying to encourage more trade and investment between the two countries.

Tullow stays confident on oil in Africa

2014-07-30 11:36

Tullow Oil has drifted into the red after writing off more than $400m in exploration costs but the Africa-focused explorer has confidence that strategy will pay off.

Zim leadership in denial

2014-07-28 05:15

Zimbabwe is now a country where the leadership signals left but then turns right, says Malcom Sharara.

Egypt hikes sin taxes

2014-07-07 11:13

Egypt has raised the sales tax on cigarettes by up to 120% and doubled the tax on alcohol, as part of a bid to curb the budget deficit and reform the economy.

Suffering Zim consumers fuel deflation scourge

2014-06-20 11:23

The Zimbabwean government says deflation is likely to persist as unemployment and falling discretionary income levels force more consumers to downgrade purchases.

Gabon seeks to diversify economy

2014-05-26 12:07

Gabon wants to lure investors into its mining, manufacturing and tourism sectors as it tries to reduce its dependence on oil exports and court capital.

China, AfDB sign $2bn deal for Africa fund

2014-05-23 08:48

China's central bank and the African Development Bank Group have signed a $2bn co-financing agreement for a fund to support African infrastructure and industry.

'Resilient' Africa set for solid growth

2014-05-20 08:27

Africa is "resistant to shocks" and is "at the point of achieving solid economic growth" but instability is a factor, say international bodies.

Egypt cabinet approves tax rise for wealthy

2014-05-08 11:41

Egypt's government has approved a temporary 5% tax on wealthy individuals to fund social programmes, the cabinet said in a statement.

China boosts Africa aid by $12bn

2014-05-05 19:30

The Chinese premier has unveiled extra aid for Africa totalling at least $12bn and offered to share high-speed rail technology with the continent.

Five million Sahel children face starvation

2014-05-01 10:01

Aid operations need urgent funding in north Africa's Sahel region where five million children face the prospect of acute malnutrition, says a UN agency.

Security fears hurt Kenya tourism

2014-04-27 11:33

Terrorist threats and wildlife poaching have hurt Kenya's tourist industry for a second year in a row in 2013, where the number of visitors slumped 11%.


Zim denies going to China for cash bailout

2014-09-10 18:40

The Zimbabwean government did not travel to China to get ready cash but to obtain funding commitments for bankable projects, says a government official.

Zim SABMiller unit can't hit 50% stake target

2014-09-05 12:45

Local shareholders are struggling to pay for the remaining 18% shareholding in SABMiller's Zimbabwean unit Delta Corporation to comply with empowerment laws.

Can China save Mugabe?

2014-08-29 10:26

Even Beijing's support may not be enough to rescue Zimbabwe's sinking economy, as President Robert Mugabe turns to 'old friend' China after being snubbed by the US.

Zim sets up body to deal with bad debt

2014-08-26 13:05

Zimbabwe has created a special vehicle to buy non-performing loans from banks, as bad loan levels have risen to 18.5% compared to an international benchmark of 5%.

Call for Zim to 'fight negative perceptions'

2014-08-26 09:11

Zimbabwe's central bank says the country needs to come up with credible policies to attract desperately needed capital as it battles economic crisis.

Mugabe seeks $4bn China bailout

2014-08-22 10:19

President Robert Mugabe is set to depart for Beijing for a $4bn cash bailout, confirming Zimbabwe’s quest for Chinese aid to ease the country's economic meltdown.

Connecting African entrepreneurs

2014-08-19 15:59

A group of entrepreneurs aim to link business owners together throughout Africa, says Lesley Waterkeyn.

Zuma: Agoa renewal has immense benefits for SA

2014-08-08 08:57

The renewal of the African Growth and Opportunity Act holds great benefits for SA and has lifted US-SA relations to a new level, says President Jacob Zuma.

Obama: Time for new Africa, US partnership

2014-08-07 07:00

United States President Barack Obama has called for a partnership of equals between Africa and America.

Obama: US seeks long-term Africa partnership

2014-08-06 10:12

President Barack Obama says the US is not just interested in Africa's minerals, but aims to be an equal partner concerned for the continent's long-term prospects.

Zuma: Africa is more organised

2014-08-05 22:47

Africa is more organised than it has ever been and this has been the right time to a hold a US-Africa summit, President Jacob Zuma says.

Africa frets over jobs - survey

2014-08-04 09:40

Africans see jobs and education as their biggest areas of concern while they also feel their governments need to invest more in agriculture, according to a poll.

US woos Africa as rivals eye growth

2014-08-03 13:23

African leaders head to Washington for a landmark US summit, with President Barack Obama hoping to boost ties amid growing competition from China on the continent.

Obama: Africa must stop making excuses

2014-07-29 09:25

US President Barack Obama says African nations should look inward for solutions to economic woes and not make "excuses" based on a history of colonisation.

Ghana annual inflation on the rise

2014-07-09 13:04

Ghana's annual consumer price inflation lifted to a four-year high of 15.0% in June from 14.8% in May, the West African nation's statistics office says.

Zim banks profit from rate cap removal

2014-07-03 08:45

Zimbabwean banks recorded significant first-quarter profit growth after the central bank removed the interest rate cap that had hurt profitability in 2013.

Zim must catch up on 'wasted decade'

2014-06-12 11:37

Zimbabwe is not yet a globalised country because of a wasted decade and it should avoid the securitisation of minerals to get loans, says a World Bank official.

Nigeria budget deficit shrinks to 1%

2014-05-25 11:37

Nigeria's budget deficit is now 1% of GDP after a rebasing of its gross domestic product, from 1.9% before, according to finance minister Ngozi Okonjo-Iweala.

Africa-savvy investors keen to curb risk

2014-05-21 09:20

Investors are increasingly looking beyond violence in Africa and can see its great potential, but they also want more risk protection, says the World Bank.

Swazis lose trade deal on poor human rights

2014-05-16 08:12

Swaziland has failed to fulfil human rights benchmarks allowing it duty free trade with the US, causing the country to be excluded from a lucrative programme.

Africa must do more to tackle inequality

2014-05-08 11:31

African governments should work harder to ensure the benefits of a decade of economic growth are spread equitably, says a report by ex-UN head Kofi Annan.

Sugar smuggling a headache for Africa

2014-05-01 13:10

Africa needs to deal with bottlenecks like smuggling and foster trade within the continent to make it less reliant on the volatile global market, says an expert.

Tanzania to raise state spend to spur growth

2014-05-01 09:26

Tanzania says it plans to raise government spending by 7.7% in the fiscal year to $12bn, with a focus on expanding the agriculture and energy sectors.

World Bank: Zim economy to grow by 3%

2014-04-25 14:48

The World Bank says Zimbabwe's GDP is expected to grow by 3%, dragged by headwinds from the global economy, low investments and weak mining sector growth.

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