The Editorial Team |

Gas discoveries poised to tone up economy within 12 years

Tanzania’s economy is projected to start accelerating at the rate of 15.3 per cent annually within the next 12 years, following massive off shore discovery of natural gas in the country, it was said in Dar es Salaam on Thursday. The Governor of the Bank of Tanzania (BoT), Prof Benno Ndulu, said the country’s current proven reserves stood at 55 trillion cubic feet (tcf), while construction of a liquefied natural gas (LNG) plant was scheduled…

Nigeria Capital Market: Week Ended 2nd April, 2015

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Domestic Polity Stability Spurs Capital Market Resurgence Following an extended period of political uncertainty and weakening macro-economic indicators which depressed investors’ confidence and beclouded the performance of Africa’s largest economy, the economy seems to be rebounding. The rear outcome of the presidential election which saw the unseating of the incumbent People’s Democratic Party’s Goodluck Jonathan and the historic victory of General Muhammadu Buhari is telling on the future of Nigeria as the African economic power…

IMF says Rwanda economy to expand by 6.5 pct this year

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KIGALI (Reuters) – Rwanda’s economy is expected to grow by 6.5 percent this year from 7.0 percent in 2014, while inflation will remain contained, the International Monetary Fund said on Thursday. Rwanda’s government has said last year’s economic growth was buoyed by robust expansion in farming, services and industrial sectors, rising from 4.6 percent in the previous year. The east African nation’s 2013 growth suffered from cuts in budgetary support by donors, after United Nations…

African Stock Market Performance in First Quarter, 2015

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The Uganda Securities Exchange closed the first quarter (Q1) 2015 as the best performer (in local currency term), leading others on the continent. The exchange appreciated by 7.8 per cent. On the contrary, Nigerian Stock Exchange closed as the worst performer, shedding about 8.4 percent in the Q1. Apart from Uganda that led with 7.8 per cent, the Nairobi Securities Exchange closed the Q1 with a growth of 7.5%, as well as Casablanca Stock Exchange, Morocco,…

Nigerian Political Landscape:Beyond the Change Chorus

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Beyond the Change Chorus… Open for Business Again? Against the intense apprehension by local and international observers, Nigeria’s 2015 Presidential Elections turned out peaceful and successful following the incumbent’s concession of defeat prior to the final announcement by the electoral umpire – INEC. The election, which was keenly contested by All Progressives Congress (APC) – Gen. Muhammad Buhari (GMB) and Peoples Democratic Party (PDP) – Goodluck Ebele Jonathan (GEJ) saw the emergence of GMB as…

World Bank to finance expanded agriculture in Ethiopia

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WASHINGTON, March 31, 2015– The World Bank Group’s Board of Executive Directors today approved US$350 million to help the government Ethiopian increase agricultural productivity and enhance market access for smallholder farmers in more than 150 of its rural districts. The new financing, from the World Bank’s highly-concessional lending agency- the International Development Association, will further boost the development potential of Ethiopia’s agriculture industry which accounts for 45 percent of the country’s total output and occupies…

IMF lends Burundi $6.9 mln to support economy before elections

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BUJUMBURA (Reuters) – The International Monetary Fund said on Wednesday it would lend Burundi $6.9 million to shore up the aid-dependent central African nation, months before a presidential election in June. Tensions are running high in the land-locked nation, which is tentatively emerging from more than a decade of civil war, because of a dispute over whether current President Pierre Nkurunziza can run for another term in a vote on June 26. The IMF also…

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