Zim audit shows shocking abuse of public funds

2017-06-28 11:21

A report by Zimbabwe’s auditor general has revealed shocking details of the abuse of public funds at state-owned institutions and government ministries.

Mozambique debt probe sees R6.4bn in unexplained loans

2017-06-26 10:07

Mozambican state companies have failed to account for about a quarter of the proceeds of $2bn in loans being investigated, according to a report.

Zim bond notes have helped but won't address underlying issues - World Bank

2017-06-21 18:03

Zimbabwe's bond notes have eased liquidity shortages but can't address macroeconomic imbalances, while further issuance of the currency will inflame inflationary pressures, says the World Bank.

Ghana at risk of debt distress as bond planned - IMF

2017-06-15 09:37

The International Monetary Fund says Ghana remains at a high risk of debt distress as the West African nation plans to clear arrears owed by energy utilities.

Egypt sees about $1bn foreign inflows since rate boost

2017-05-29 14:10

Egypt has received about $1bn in foreign inflows since the central bank raised interest rates by 200 basis points last week to curb inflation.

Stakes are high as Zim ministers meet mining execs

2017-05-23 12:15

Zimbabwean mining executives and government officials are having their third annual meeting in Victoria Falls as the industry battles a plethora of operational constraints.

In Nigeria bust, $4-a-day job doesn't guarantee getting pay

2017-05-11 16:00

On days when Dayo Fabajo’s bosses can’t afford to pay the $4 wage she earns for a 12-hour shift packing biscuits, they send her home early.

SA still has most subsidiaries in Africa but rivals catching up

2017-05-10 06:02

South African companies have the highest number of subsidiaries in the rest of Africa market but competition is fast rising from Kenyan and Nigerian firms, says the IMF.

Nigeria seeks $5.2bn from World Bank for power industry

2017-05-09 08:59

Nigeria is seeking $5.2bn from the World Bank to expand electricity generation and help the economy recover from its first contraction in 25 years.

Zim bank queues lead to 'staggering' productivity loss - survey

2017-05-05 14:43

Zimbabweans spend an average of 2.5 working hours per week in banking queues, a $40m loss in wages paid to employees who are not productive every month, according to a survey.


Mozambique banks snared in debt crisis must merge to thrive

2017-06-28 10:57

Mozambique’s smaller banks should combine in an effort to overcome the blow dealt by government debt defaults after four lenders failed over nine months.

Nigeria rolls out $2bn Brazil-like social-welfare plan

2017-06-22 09:45

Nigeria is rolling out its first national social-welfare programme modelled partly on Brazil’s Bolsa Familia in a bid to boost a weak economy and curb poverty.

World Bank speaks on Zim's cash crisis

2017-06-21 16:31

Fiscal imbalances combined with a large volume of domestic debt are at the core of Zimbabwe’s ongoing cash shortages, according to the World Bank.

Zim bourse rallies as local investors turn to equities

2017-06-01 14:59

The main Industrials index of Zimbabwe Stock Exchange was up by 27.4% in May, as investors continue to seek refuge in real assets amid the country's cash crisis.

Gambia talks with China, Norway investors to revive economy

2017-05-25 12:25

Gambian officials are holding talks with Chinese and Norwegian investors on infrastructure projects to drive economic growth in the West African nation.

Standard Bank lends Zim $120m to help ease power crisis

2017-05-15 16:30

Standard Bank has finalised a $120m loan facility to Zimbabwe to boost the country's efforts to overcome its power crisis.

IMF sees subdued growth outlook for Sub-Saharan Africa

2017-05-10 09:46

Sub-Saharan Africa’s economic growth outlook is subdued as the region’s oil producers delay policy adjustments needed to trigger and sustain expansion momentum.

Sub-Saharan Africa's growth prospects still fragile - IMF

2017-05-09 16:41

Once-off factors are likely to drive a modest economic rebound in sub-Saharan Africa, according to the International Monetary Fund.

Sub-Saharan Africa 'left behind' in economic connectedness - report

2017-05-05 16:38

Sub-Saharan countries are among the least connected ones in the world with regional connectedness lagging other areas by a wide margin, according to the Visa Africa Integration Index.

Mugabe's denial begs the question: Is there hope for Zim?

2017-05-05 06:33

Is there there hope for Zimbabwe when those in leadership are in denial, asks Malcom Sharara after President Robert Mugabe denied that his country is a fragile state.

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