Tag Archives: economy

Harare, Zimbabwe | AFP | Two years ago, Linos Mutepera was among hundreds of thousands of Zimbabweans who celebrated the toppling of long-time ruler Robert Mugabe with tears of joy. Today, he looks back at that time with bitterness, his hope of a better life dashed on the rocks of poverty …

Bigger Economy: Why could that be bad news? Kampala, Uganda | THE INDEPENDENT | The recent rebasing of the national account series by the Uganda Bureau of Statistics (UBOS) has excited economists with many saying it presents the government an opportunity to make policy based on data that is a …

Kampala, Uganda | THE INDEPENDENT | Ugandan economy is bigger than previously estimated, with new numbers showing Ugandans are much richer than had been thought, according to Uganda Bureau of Statistics (UBOS). According to UBOS, they rebased the economy using the prices of 2015/16 financial year. This saw Uganda’s size …

Abuja, Nigeria | AFP |  Nigerian President Muhammadu Buhari on Tuesday unveiled a record budget plan to lawmakers, ramping up ambitious spending goals for his second term in charge. The draft budget increased more than 13 percent from last year at 10.33 trillion naira — around $33.8 billion (30.8 billion …

  Johannesburg, South Africa | AFP |  Nigerian President Muhammadu Buhari on Friday denounced recent xenophobic violence in South Africa as an “embarrassment” for the continent, as he wrapped up a state visit. Buhari’s trip was overshadowed by a spate of recent attacks against foreign workers in South Africa, where …

  Johannesburg, South Africa | AFP | Nigerian President Muhammadu Buhari arrived in South Africa on Wednesday for a state visit after an outburst of xenophobic violence in and around Johannesburg stirred tensions between Africa’s leading economic powerhouses. Buhari and his South African counterpart Cyril Ramaphosa will meet Thursday to …

New Delhi, India | AFP | When India’s Finance Minister Nirmala Sitharaman claimed that a preference by millennials for ride-hailing apps was contributing to a painful slump in car sales, it sparked an online backlash from furious youngsters. They started a campaign using ironic hashtags such as #BoycottMillennials and #SayItLikeNirmalaTai …

Beijing, China | AFP | China announced Friday it will hit US soybeans, lobsters, peanut butter and other imports worth $75 billion with new tariffs in retaliation for Washington’s planned duty hikes, further intensifying the bruising trade war between the world’s top two economies. The punitive tariffs of 5 to …

Moscow, Russia | AFP |  Moscow was set for fresh protests Saturday, the latest in a wave of demonstrations that has seen tens of thousands take to the streets after opposition figures were banned from local elections a month ago. The rallies, which have taken place every Saturday since the ruling, …

Uganda slams report Huawei helped spy on opposition leaders Kampala, Uganda | AFP |  Uganda on Friday denied a report that employees of Chinese telecom giant Huawei had aided a domestic spying operation targeting pop star turned opposition icon Bobi Wine. The Wall Street Journal reported this week that Huawei …