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Friday, September 25, 2020

Egypt’s non-oil business activity contracts for 21st month in June: PMI

CAIRO, July 4  - Egyptian non-oil private-sector business activity contracted for the 21st consecutive month in June as output and new orders continued to decline, a survey showed on Tuesday. The Emirates NBD Egypt Purchasing Managers' Index (PMI) for the non-oil private sector dipped to 47.2...

South African rand weaker as investors calculate impact of China virus

JOHANNESBURG (Reuters) - South Africa’s rand began the week on the back foot as investors calculated the economic impact of China’s spreading virus outbreak, while a sluggish outlook for the local economy added further strain on the currency on Monday. * At 0702 GMT, the...

South African inflation to slow in 2020, cenbank to cut rates again

Vuyani Ndaba JOHANNESBURG (Reuters) - South African inflation is expected to be lower in 2020 than previously forecast and the eventual reading could be lower still, a Reuters poll showed on Thursday, opening the door for the central bank to cut interest rates again during...

Malawi GDP to grow 5.1 pct this year: finance minister

LILONGWE (Reuters) - Malawi’s economy is expected to grow 5.1 percent in 2018, supported by more infrastructure investment and social spending, Finance Minister Goodall Gondwe said in a budget speech on Friday. The growth forecast compares to 5.5 percent in 2017. Reporting by Mabvuto Banda; Editing...

Coronavirus: South Africa’s economy contracts by 51% in Q2

Johannesburg, Sept. 8, 2020 (dpa/Naija247news) The COVID-19 pandemic has seen South Africa’s economy contract by 51 per cent, its biggest slump in decades, according to the national statistics office ‘Stats SA’ for the second quarter of 2020. “South Africa’s economy suffered a significant contraction during...

Mozambique’s economy grows 3.0 percent in Q2: official data

MAPUTO (Reuters) - Mozambique economy grew 3.0 percent year-on-year in the second quarter, the National Statistics Institute said on Tuesday, compared with a 3.9 percent expansion in the first quarter. Reporting by Manuel Mucari

South African cenbank says uncertainty weighing on investor sentiment

CAPE TOWN  - South Africa's political turmoil and regulatory uncertainty are harming investor sentiment, the central bank governor told lawmakers on Tuesday. President Jacob Zuma faces a no-confidence motion in parliament next week amid persistent corruption allegations, though he denies any wrongdoing. "...the uncertainty is impacting...

Kenya’s parliament approves retaining interest rate cap against IMF wishes

John Ndiso, Humphrey Malalo NAIROBI (Reuters) - The Kenyan parliament voted on Thursday to retain the cap on commercial interest rates which the International Monetary Fund has insisted must be scrapped or modified in return for a new standby arrangement. Lawmakers also voted to delay a...

How COVID-19 affected inputs supply, others — African farmers

By Itohan Abara-Laserian Lagos, Sept. 10, 2020 Some African farmers have highlighted the negative impact the COVID-19 pandemic has had on the continent’s food system supply chain. The farmers said the pandemic disrupted access to inputs, technologies, labourers and traders/aggregators. They made the submission at the...

‘Africa accounts for only 15 percent of continent’s $1trillion global trade’

The African Export-Import Bank (Afrexim Bank) has said that Africa accounts for only 15 per cent of the continent’s $1 trillion total trade in the world per year. Speaking to journalists at the sideline of the 18th edition of the bank’s annual Structured Trade and...
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