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Lagos, South Africa and New York
Tuesday, July 14, 2020

Kenyan shilling eases due to increased energy sector dollar demand

NAIROBI (Reuters) - Kenya’s shilling weakened on Friday due to increased dollar demand from across all sectors, including energy importers, traders said. At 0858 GMT, commercial banks quoted the shilling at 100.45/65 to the dollar, compared with 100.30/50 at Thursday’s close. Reporting by George Obulutsa; Editing...

Africa needs 30 tonnes per hectare of cassava by 2050 — IITA

The International Institute of Tropical Agriculture on Tuesday said the continent needed 30 tonnes per hectare of cassava by 2050 from the current nine tonnes per hectare. Dr Claude Fauguet, Director of the Global Cassava Partnership of IITA, made the assertion at a news conference...

Africa needs 11m professionals by 2030 to prevent “social and economic disaster”, UN says

LONDON, Oct 26  - Africa needs 11 million more doctors, nurses and teachers by 2030 to prevent a “social and economic disaster” that could propel millions to migrate, the United Nations said on Thursday. It said the 11 million were needed to help the continent...

Algeria plans to increase budget spending by 25 pct in 2018

ALGIERS  - Algeria plans to increase state spending by 25 percent in 2018 despite growing financial pressure caused by a fall in energy earnings, the presidency said on Thursday after a cabinet meeting. The government expects a budget deficit of 9 percent of gross domestic...

Benin’s GDP growth to rise to 6 pct this year, IMF says

DAKAR, June 30 - Benin’s economy is expected to grow 6 percent this year, up from 5.6 percent in 2017, as cotton production reaches record highs and the economy of neighbouring Nigeria strengthens, the International Monetary Fund said. The Fund also said in a...

IMF Chief’s Speech on Benin: Harnessing the Power of Economic Diversification

I. Introduction and Theme Ladies and Gentlemen: Good morning—Mi fon gandji a. I would like to thank Jean-Baptiste Satchivi for the kind introduction, and thank you to the Chamber of Commerce and Industry for giving me the opportunity to talk about the importance...

South Africa Unemployment Hits 27.7%

World Economy Wednesday, November 1,2017 Unemployment remained at 27.7% in the September quarter, Statistics South Africa reported on Tuesday. This marked a deterioration from the 27.1% from the same quarter in 2016,BusinessLive reported. The number of employed people increased by about 92,000 from the June quarter,...

Nigeria, Angola, SA seen driving Sub-Sahara Africa regional economic growth in 2019

Regional growth is seen picking up for a third year in a row in 2019, as Nigeria’s recovery gathers pace and Angola exits from a three-year recession. In addition, modest growth in South Africa should also lend support to economic activity. Higher capital spending...

Namibia’s GDP contracted in 2017, 1.2 percent growth expected for 2018

WINDHOEK (Reuters) - Namibia’s economy contracted in 2017 by 0.4 percent but is expected to recover and expand by 1.2 percent in 2018 and by double that the year after as a return of government spending boots activity, the finance minister said on Wednesday. The...

Morocco trade deficit widens 13.1 pct in first five months: agency

RABAT  - Morocco's trade deficit widened 13.1 percent to 78.45 billion dirham ($8.03 billion) in the first five months of 2017 compared with a year earlier, driven by increased imports, the foreign exchange regulator said on Monday. The trade gap was up from 69.45 billion...
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