The Editorial Team |

OPEC predicts oil prices will stay below $100 for a decade

The Organization of the Petroleum Exporting Countries (OPEC) thinks oil will stay below $100 for a decade, and it’s worried a low oil price environment won’t be enough to snuff out the emerging US shale gas industry. A report seen by the Wall Street Journal has said that OPEC thinks a best-case scenario will see oil prices at $76 a barrel in 2025. And the organisation also warned crude oil could cost less than $40 per barrel…

Tanzania signs up for customs deal alongside Kenya, Uganda and Rwanda

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Dar es Salaam, Tanzania (Capital Markets in Africa):- Tanzania has joined Kenya, Uganda and Rwanda in fast tracking the movement of goods along the main corridors (Northern and Central) under the customs seals in the COMESA region. This follows the signing of an inter-surety agreement by Tanzania’s National Insurance Corporation (NICT) to join the COMESA Regional Transit Guarantee (RCTG) scheme thereby allowing the country to issue regional customs bond guarantees. The RCTG Scheme is a customs transit…

Tanzania gets $45 mln World Bank loan to improve mining sector

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DAR ES SALAAM (Reuters) – The World Bank has approved a $45 million loan for Tanzania, Africa’s fourth-biggest gold producer, to help improve its mining sector especially among small-scale producers. The funds will help to create a viable domestic mining industry in poor, rural areas where unregulated artisanal and small-scale mining takes place, Philippe Dongier, the Bank’s country director for Tanzania, said in a statement. The project will train small-scale miners in jewellery-making and help…

Rwanda exports projected to grow by 6%

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The government projects exports to rise from US$723.1 million earned in 2014 to $764.4 million in 2015 a projected 6% growth for this year. “Last year’s export performance of 3% was because of the performance of tea and minerals which were affected by low commodity prices at the international market,” Minister of Finance and Economic Planning Amb. Claver Gatete said. “We project imports in value terms to increase by 7% in 2015 and declining by…

Poking the Panda does not serve EAC

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The Tanzania government recently revealed that total Chinese investments in the country had surpassed $4 billion. China, the home of the Giant Panda, has indeed become a reliable ally in helping develop several African countries. True, there maybe one or two differences here and there, especially when it comes to competing with local traders and industrial relations, but on the whole relations have not been too bad. More important, the Chinese continue to be generous…

Democratic Republic of the Congo B3 rating balances economic fragility with healthy growth prospects

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The Democratic Republic of the Congo’s (DRC) B3 rating primarily reflects the country’s fragile economy and very low per capita income relative to its peers, Moody’s Investors Service says in its latest Credit Analysis for the country published this week. However, the country’s robust growth prospects mitigates some of these constraints. The annual report is available through the links at the end of this press release. The research is an update to the markets and…

IMF Staff Completes discussions with the Central African Economic and Monetary Community

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London, (Capital Markets in Africa):- A team from the International Monetary Fund (IMF), led by Mario de Zamaróczy, visited Libreville and Yaoundé during April 23–May 7, 2015 and held discussions with the institutions of the Central African Economic and Monetary Community (CEMAC1) on common policies for member countries. Mr. Bernard Laurens, mission chief for the CEMAC Financial Sector Assessment Program, joined the mission to discuss financial sector reforms to promote stability and development. At the…

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