ARTICLES RELATING TO AFRICA ECONOMY

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%.

SA is Zim's top trading partner

2014-04-25 07:50

South Africa has emerged as Zimbabwe’s biggest trading partner for the first quarter of 2014, with the country importing goods worth $625.6m from SA.

SABMiller's Zim unit hit by slower spend

2014-04-10 12:58

SABMiller's Zimbabwe-based unit Delta Corporation will report an 18% drop in full-year lager beer volumes, amid bleak economic prospects for the country.

Zim fails to meet revenue targets

2014-04-08 11:47

Zimbabwe's economic environment continues to look dire, with an income shortfall in the country’s total expenditure for February resulting in a $16.8m deficit.

A desperate economy in Zimbabwe

2014-04-03 13:50

On Harare's hardscrabble streets college graduates compete with peasants scratching out a living selling anything from mobile phone cards to herbal tonics.

Botswana GDP growth quickens to 3.6%

2014-04-02 10:17

Botswana's economy grew 3.6% quarter-on-quarter in the fourth quarter of 2013 from a revised 0.3% in the third quarter, data from the statistics office showed.

Neo-colonialism 'not part of aid to Africa'

2014-04-01 09:21

The head of the EU's huge aid programme says linking investment in Africa to democratic reforms risks backfiring if viewed as a "colonial tool".

Glencore reaches $1bn deal with Mauritania

2014-03-31 09:10

Glencore Xstrata has reached a preliminary deal for a $1bn contract for access to railway and port facilities with Mauritania, according to a report.

Mugabe appoints new central bank governor

2014-03-23 16:53

Zimbabwe's President Robert Mugabe has appointed economist John Mangudya as governor of the country's central bank, state media reported Sunday.

Zimbabwe enters deflation

2014-03-18 19:46

Zimbabwe has posted year-on-year inflation for February of -0.49%, a dip analysts deem as a further danger sign for the struggling economy.

Africa's rush to borrow stirs concern

2014-03-18 09:25

As African states line up to join the growing club of dollar bond issuers, analysts warn of a slide back into indebtedness that could undo recent economic gains.

Zimplats adds 29% to Impala profits

2014-02-27 14:11

Profits of Impala Platinum-owned Zimplats jumped 237% to R246m for the interim period to February 2014, and the firm contributed 28.6% to Impala’s total profits.

Sovereign funds race

2014-02-16 10:14

African nations should invest in basics rather than wealth funds, say experts.

Zim rounds on "fat cat" state executives

2014-01-31 08:54

In deeply impoverished Zimbabwe, newspapers have kept readers riveted with tales of managers of state firms pocketing millions while the economy stagnates.

Zim's bleak prospects

2014-01-19 10:32

A new year brings a deepening dread of the future to many who struggle without jobs.

 

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.

Zim's dangerous optimism

2014-04-15 07:46

One good deal only highlights the harm of damaging policies, says Malcom Sharara.

Retail reward vs risk

2014-04-10 07:21

Firms like Shoprite and Game are chasing profits in booming but volatile Africa.

Nigeria's Nollywood hails GDP recognition

2014-04-07 15:26

Nollywood directors and investors have hailed the industry's inclusion in Nigeria's economic data for the first time, calling it recognition of its influence.

Standard to acquire Francophone footprint

2014-04-03 10:52

Standard Bank has appointed a French-speaking person to tackle challenges it will face as it aims to set up shop in French-speaking countries on the continent.

Old Mutual 'to help Zim pay state salaries'

2014-04-01 17:35

Sources say Old Mutual and the National Social Security Authority have been asked to purchase Treasury bills to help Zimbabwe pay salaries for civil servants.

Libya burns cash to battle budget crisis

2014-03-31 15:29

Libya is burning through central bank reserves and scrapping infrastructure projects after the seizure of oil installations reduced state income almost to zero.

IMF expects subdued growth for Zimbabwe

2014-03-28 10:44

Zimbabwe will register moderate growth in the short term and the country could be vulnerable to weakening exports, predicts the International Monetary Fund.

Mugabe appoints new central bank governor

2014-03-23 16:48

Zimbabwe's President Robert Mugabe has appointed economist John Mangudya as governor of the country's central bank, state media reported Sunday.

Zimbabwe enters deflation

2014-03-18 17:27

Zimbabwe has posted year-on-year inflation for February of -0.49%, a dip analysts deem as a further danger sign for the struggling economy.

SA firms to fix Zim infrastructure woes

2014-03-10 16:02

South African companies are taking advantage of Zimbabwe’s unquenched thirst for capital by structuring infrastructure deals.

Sovereign funds race

2014-02-16 10:19

African nations should invest in basics rather than wealth funds, say experts.

Nigeria the future, SA the past - economist

2014-02-07 13:21
109 comments

Nigeria is set to overtake SA as Africa's economic powerhouse this year and represents the continent's future, while SA is the past, says a US economist.

Zim's bleak prospects

2014-01-19 10:38

A new year brings a deepening dread of the future to many who struggle without jobs.

World Bank: Weak rand is bad news for Zim

2014-01-16 13:12

A World Bank economist says the softening rand presents problems for Zimbabwe, as the country's weak economy is funded by a strong dollar.

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