ECONOMY Archives - Page 5 of 22

Zimbabwe’s Inflation Drops to 3.7% in December, Marking a Significant Decline from 11.7%

Eniola OladeleDecember 28, 2024

by Eniola OladeleDecember 28, 2024085

Zimbabwe’s inflation rate slowed dramatically in December 2024, falling to 3.7%, down from 11.7% in November. This sharp decrease represents a significant improvement in the...

Pakistan, Kenya Explore Expanding Trade Beyond Tea, Eyeing New Economic Frontiers

Eniola OladeleDecember 24, 2024

by Eniola OladeleDecember 24, 2024085

Pakistan and Kenya have initiated high-level talks aimed at diversifying their trade relations beyond the traditional exchange of tea, seeking new avenues for economic collaboration....

BUSINESS ECONOMY International News

European Commission Grants €1 Billion in Macro-Financial Assistance to Egypt

Eniola OladeleDecember 23, 2024

by Eniola OladeleDecember 23, 2024090

The European Commission has adopted a decision to disburse €1 billion in loans to Egypt following the fulfilment of the policy conditions agreed with the EU...

Africa ECONOMY

Libya Lost $600 Billion in a Decade, GDP Could Have Been 74% Higher Without Conflict: World Bank Report

Eniola OladeleDecember 19, 2024

by Eniola OladeleDecember 19, 2024078

A recent World Bank report has revealed the staggering economic toll of Libya’s protracted conflict, estimating losses of over $600 billion in the past decade....

BUSINESS ECONOMY

SMEs Risk Falling Behind Without Proper Tools to Handle Festive Season Rush

Eniola OladeleDecember 19, 2024

by Eniola OladeleDecember 19, 2024090

As the festive season approaches, small and medium enterprises (SMEs) face a critical period that could make or break their yearly performance. The holiday rush...

Africa ECONOMY

Botswana’s new government lifts ban on South African vegetable imports.

Eniola OladeleDecember 19, 2024December 19, 2024

by Eniola OladeleDecember 19, 2024December 19, 2024093

The Botswana government has lifted import bans on vegetables from South Africa in two phases, with the second phase expected to take effect in April.Botswana...

ECONOMY POLITICS

Congress to Vote on New Restrictions for US Investment in China Amid Growing Tensions

Eniola OladeleDecember 18, 2024

by Eniola OladeleDecember 18, 2024067

The United States Congress is set to vote on a new set of restrictions that would limit American investments in Chinese companies, marking a significant...

Africa Agriculture ECONOMY

KTDA Announces Record-High Dividends for Tea Farmers

Eniola OladeleDecember 17, 2024

by Eniola OladeleDecember 17, 2024087

The Kenya Tea Development Agency (KTDA) has declared the highest dividends in its history, bringing relief and optimism to tea farmers across the country. This...

Africa ECONOMY

Cabinet Approves Bus Rapid Transit System, Extends Government-to-Government Fuel Agreement

Eniola OladeleDecember 17, 2024

by Eniola OladeleDecember 17, 2024095

The Cabinet has officially approved the implementation of the Bus Rapid Transit (BRT) system as part of efforts to improve urban mobility and address traffic...

Africa ECONOMY

Zambia Receives $184 Million from IMF After Successful Program Review

Eniola OladeleDecember 17, 2024

by Eniola OladeleDecember 17, 2024081

Zambia has secured a significant financial boost of $184 million from the International Monetary Fund (IMF) following the successful completion of a program review. The...

Africa ECONOMY

World Bank Revises Kenya’s 2024 Growth Forecast to 4.7% Amid Fiscal Challenges

Eniola OladeleDecember 10, 2024

by Eniola OladeleDecember 10, 2024083

The World Bank has revised Kenya’s 2024 economic growth forecast to 4.7%, down from its previous projection of 5.3%, citing ongoing fiscal challenges and economic...

Africa ECONOMY

33 African Nations Gain Zero-Tariff Access to Chinese Market

Eniola OladeleDecember 6, 2024

by Eniola OladeleDecember 6, 2024078

China has announced a significant trade policy that grants zero-tariff access to 33 African countries, a move set to deepen economic ties between the continent...

Africa ECONOMY

New Financial Law and 2024/2025 Fiscal Budget Come Into Effect

Eniola OladeleDecember 3, 2024

by Eniola OladeleDecember 3, 20240103

The new financial law and the 2024/2025 fiscal budget have officially entered into force, marking a significant shift in the country’s economic landscape. The law...

Africa ECONOMY

Fuel Prices Set to Rise Again, Hitting Motorists Starting Wednesday

Eniola OladeleDecember 3, 2024

by Eniola OladeleDecember 3, 2024099

Motorists are bracing for another fuel price hike set to take effect on Wednesday, marking the latest in a series of increases this year. The...

Africa ECONOMY

South Africa’s GDP per Capita Falls for Sixth Consecutive Quarter, Economists Divided on Rate Cut Size

Eniola OladeleDecember 2, 2024

by Eniola OladeleDecember 2, 2024079

South Africa’s economic challenges deepened as the country’s GDP per capita fell for the sixth consecutive quarter, signaling ongoing struggles in the face of rising...

Africa ECONOMY

Namibia: Galp’s Appraisal Well Confirms Light Oil and Gas-Condensate at Mopane Discovery

Eniola OladeleNovember 30, 2024

by Eniola OladeleNovember 30, 20240102

Energy company Galp has announced a significant breakthrough in Namibia, where its appraisal well on the massive Mopane discovery has confirmed the presence of light...

ECONOMY International News

Ethiopia Secures Additional $251 Million From IMF After Second Review of $3.4 Billion ECF Agreement

Eniola OladeleNovember 28, 2024

by Eniola OladeleNovember 28, 2024095

Ethiopia is poised to receive an additional US$251 million from the International Monetary Fund (IMF) as part of a four-year, $3.4 billion Extended Credit Facility...

Africa ECONOMY STOCK MARKET

Goldman Sachs Predicts Sharp Decline in South Africa’s Inflation and Interest Rate Cuts by 2025

Eniola OladeleNovember 27, 2024

by Eniola OladeleNovember 27, 20240149

Goldman Sachs has expressed optimism regarding South Africa’s economic outlook, forecasting significant improvements in inflation and interest rates by 2025. The bank anticipates a notable...

Africa ECONOMY

S&P Global Upgrades Eskom’s Credit Rating Amid Government Support

Eniola OladeleNovember 27, 2024

by Eniola OladeleNovember 27, 20240110

Eskom Holdings SOC Ltd., South Africa’s state-owned power utility, has received a notable credit rating upgrade from S&P Global Ratings. The rating was elevated from...

BUSINESS ECONOMY

Trade Minister Intervenes to Challenge Vodacom-Remgro Deal Block

Eniola OladeleNovember 27, 2024

by Eniola OladeleNovember 27, 20240108

South Africa’s Minister of Trade, Industry, and Competition is reportedly exploring options to overturn the Competition Tribunal’s decision to block Vodacom’s acquisition of a significant...

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