Economy | - Part 7

Tunisia’s economy to see recovery in 2017, Prime Minister Says

TUNIS (Capital Markets in Africa) – Tunisia’s economy will start to regain momentum this year after six years of slow growth, driven by the revival of the vital tourism industry and the return to state phosphate production, Prime Minister Youssef Chahed said. Chahed was speaking in an interview with state television late on Sunday, addressing concerns about the economy after hundreds of youths protested over the last week in some towns, demanding development and employment….

Ghana’s 2017 Budget: Hope of A New Dawn, Or Illusion?

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana’s 2017 budget statement outlined an ambitious first step towards transforming the structure of the economy. The budget, christened: “Sowing the Seeds for Growth and jobs” is grounded within the framework of the Ghana Shared Growth and Development Agenda II (GSGDA II) and within the context of the Extended Credit Facility (ECF) with the IMF. The budget targets accelerated and inclusive growth through a modernized agriculture sector, private sector-led…

World Bank cuts Kenya’s 2017 growth forecast to 5.5 percent

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – The World Bank cut Kenya’s economic growth forecast for this year by half a percentage point on Wednesday to 5.5 percent, citing drought, sluggish private sector credit growth and rising prices of oil. The country is estimated to have expanded by 5.9 percent last year, the highest annual expansion in half a decade. But the outlook has been hit by months of dry weather, that left 2.7 million people in…

Tanzania’s economic growth slowed by policy uncertainty, credit squeeze

Posted on by The Editorial Team

DAR ES SALAAM (Reuters) – Uncertainty over government policies and a slowdown in the private sector cut Tanzania’s gross domestic product growth to an estimated 6.9 percent in 2016 from 7.2 percent the previous year, the World Bank said on Tuesday. Growth is still supported by substantial government investment in infrastructure, including a standard gauge railway, new roads and expanding the ports. But investors have been unnerved by unpredictable policies from the government of President…

IMF says Nigeria economy needs urgent reform, no FX curbs

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The International Monetary Fund (IMF) warned Nigeria its economy needs urgent reform in a report published on Wednesday that highlighted the risks to growth for the recession-hit country and the dangers of a volatile foreign exchange market. The document, a report from IMF staff which Reuters saw an earlier version of last month, outlines a raft of failings in Nigeria’s handling of Africa’s largest economy and could affect talks over…

IMF Sees Ugandan Growth Rebound in 2017-18 on Infrastructure

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Economic growth in Uganda may accelerate in the coming fiscal year, underpinned by government spending on infrastructure and an anticipated recovery in lending to the private sector, according to the International Monetary Fund. The growth rate may increase to 5.5 percent in the 12 months through June 2018, compared with an estimated 4.5 percent this year and 4.8 percent in the prior 12-month period, Clara Mira, IMF’s resident representative…

South Africa’s credit rating downgraded to junk by S&P after finmin changed

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – S&P Global Ratings downgraded South Africa’s sovereign credit rating to BB+ from BBB- grade on Monday, saying the recent firing of its internationally respected finance minister posed a risk fiscal policy. The rand fell by as much 2 percent to the dollar in response to the news of the downgrade, while government bonds also weakened sharply. “The downgrade reflects our view that the divisions in the ANC-led government that…

« 1 … 5 6 7 8 9 … 27 »