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Monday, August 10, 2020

Sub-Saharan Africa’s economic growth to accelerate despite tighter global conditions – Poll

Sub-Saharan Africa’s economies will cope with tighter global liquidity this year and grow faster than in 2018, albeit at a lacklustre rate compared to the commodity price boom heydays of a decade ago, a Reuters poll found. As interest rates tighten in developed markets and...

Botswana central bank seeks law to preserve shrinking sovereign wealth fund

Gaborone, BOTSWANA (Reuters) - The Bank of Botswana will seek legislation to limit access to its sovereign wealth fund, a central bank official said on Tuesday, as it seeks to stem a steady fall in the fund’s reserves often tapped to meet budget deficits. “At...

Zambia’s central bank says delayed IMF programme affecting kwacha currency

LUSAKA (Reuters) - Zambia’s central bank governor said on Wednesday the delay in reaching a conclusion for an aid programme with the International Monetary Fund (IMF) was putting pressure on the kwacha currency Zambia and the IMF agreed in October to chart a new path...

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...

IMF says Gabon’s economic growth to narrow to about 1 pct in 2017

KINSHASA - Gabon's economy is expected to grow about 1 percent in 2017, down from 2.1 percent last year, largely due to weakness in the oil sector and a recession in the commercial and service sectors, the International Monetary Fund said on Wednesday. Gabon...

COVID-19: FAO warns over rise in hunger in Africa

By Bukola Adewumi Abuja, July 16, 2020 The UN Food and Agriculture Organisation (FAO) has warned on the rising hunger in Africa, particularly in Sub-Saharan Africa. Abebe Haile-Gabriel, the organisation’s Assistant Director-General and Regional Representative for Africa said this in a statement on Tuesday in...

Kenya’s economy to expand by 5.8 pct this year: finance ministry

NAIROBI (Reuters) - Kenya’s economy is likely to grow 5.8 percent this year, recovering from drought and political uncertainty that pushed growth down to an estimated 4.8 percent in 2017, the finance ministry said Economic output in the East African nation, which relies on farming...

Ghana’s 2017 GDP growth reached 8.5 pct, eyes exploration licensing in Q4 2018

ACCRA (Reuters) - Ghana’s economy expanded by 8.5 percent last year, according to a provisional estimate announced from the West African nation’s statistics office on Wednesday, up from 3.7 percent in 2016. Growth in the fourth quarter of 2017 reached 8.1 percent, it said, compared...

South Africa’s July manufacturing output up 2.9 percent as business confidence slips in Q3

JOHANNESBURG - South Africa’s industrial output expanded in July as food and motor vehicle output rose, easing pressure on an economy that recently slipped into recession and is struggling for investment amidst policy uncertainty and possible credit downgrades. A worker inspects beer bottles on...

South Africa’s rand weakens on risk aversion; stocks rise

JOHANNESBURG (Reuters) - South Africa’s rand weakened against the dollar on Wednesday amid dwindling demand for riskier assets and fears U.S.-China trade tension would not be resolved at an upcoming G20 summit. At 1500 GMT the rand traded at 13.9675 per dollar, 0.4 percent...
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