Economy | - Part 26

Nigerian Political Landscape:Beyond the Change Chorus

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…

IMF lends Burundi $6.9 mln to support economy before elections

Posted on by The Editorial Team

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…

Nigerian Economy and Financial Market: After Elections… What Next?

Posted on by The Editorial Team

After Elections …What Next? Nigeria’s macroeconomic scene in recent times has been laden with issues surrounding the domestic polity in anticipation of the upcoming elections in March and April. Election campaigns are getting more intense with no one actually sure of which of the two major political parties will carry the day. Falling oil prices still continues to pressure the fiscal stability of government whilst Naira stability is continually tensed on the back of falling external…

Sisi says Egypt needs $200-$300 billion to develop

Posted on by The Editorial Team

SHARM EL-SHEIKH, Egypt (Reuters) – Egypt needs $200-$300 billion to develop, President Abdel Fattah al-Sisi said at an international investment conference on Sunday, pressing his campaign to lift the Arab world’s most populous country from years of economic turmoil.Egypt, with a population of about 90 million, has been hit hard by economic and political upheaval since an uprising that toppled autocrat Hosni Mubarak four years ago. Investment shrivelled, tourism dwindled as did foreign currency reserves.With…

Rwanda Upgraded To ‘B+’ On Diminishing External Financing Risks; Outlook Stable

Posted on by The Editorial Team

Overview • Risks to Rwanda’s external financing are reducing owing to stable donor flows and the government’s ability to access the capital markets. • Real GDP growth rates have rebounded to more than 6.0% in 2014 from the 2013 low of 4.6%, and we project 7% GDP growth for Rwanda in 2015-2018. Fiscal consolidation is on track, and deficits are narrowing. • We are raising our long-term ratings on Rwanda to ‘B+’ from ‘B’ and…

Nigeria likely to lower estimate for 2015 GDP after naira drops

Posted on by The Editorial Team

LAGOS (Reuters) – Nigeria expects to lower its forecast for 2015 economic growth again, after cutting its forecast to 5.54 percent in January, after oil prices fell and the currency weakened further last month, the country’s statistics bureau said. Yemi Kale told the Reuters Africa Investment Summit on Tuesday he did not expect a reduction of more than 1 percent in the 5.54 percent forecast. Final figures will be released by half-year, he said. Nigeria…

Tanzania says Q3 2014 GDP growth slows, hurt by agriculture

Posted on by The Editorial Team

DAR ES SALAAM (Reuters) – Tanzania’s economy grew 6.8 percent in the third quarter of 2014 compared with 7.4 percent in the same period a year ago due to a slowdown in agriculture, construction and transport sectors, data showed on Thursday. The government sees Tanzania’s economy growing by 7.4 percent this year from an estimated 7.2 percent in 2014 due to expected strong performance of agriculture, construction and manufacturing sectors. Growth in agriculture, the biggest…

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