Tag Archives: economy

Harare, Zimbabwe | AFP | Zimbabwe’s President Emmerson Mnangagwa said Thursday that an Australian firm would explore for oil and gas in the nation after a study indicated deposits. Invictus Energy has in recent months reworked survey data generated in the early 1990s by US oil giant ExxonMobil, previously known …

Johannesburg, South Africa | AFP |  South Africa’s President Cyril Ramaphosa on Thursday sacked the head of the country’s tax collection agency, an ally of scandal-tainted former leader Jacob Zuma, said the presidency. The president dismissed Tom Moyane after a judiciary inquiry recommended his immediate removal “to forestall any further …

Seoul, South Korea | AFP | Samsung Electronics on Wednesday posted record quarterly operating and net profits for the July-September period as solid demand for its memory chips cushioned the fallout from slowing smartphone sales — but warned of tougher times ahead. The South Korean tech giant — the world’s …

Closing the financial inclusion gap will require government, private sector and development partners. Kampala, Uganda | JULIUS BUSINGE | How can women and youth population participate in the country’s formal economic activities?  This is what formed part of the discussion at a breakfast meeting organised by Financial Sector Deepening Uganda (FSDU) …

Harare, Zimbabwe | AFP | Zimbabwe’s main opposition leader Nelson Chamisa called Tuesday for a transitional government to resolve the worsening economic and political crisis engulfing the country. A foreign currency shortage in recent weeks has sparked the worst economic crisis with supplies of fuel, food and pharmaceuticals drying up. …

Washington, United States | AFP | The top US diplomat for Africa on Tuesday voiced optimism over economic reforms by the new government in Zimbabwe, which remains under sanctions dating from Robert Mugabe’s 37-year reign. Tibor Nagy, the assistant secretary of state for African affairs, said that Zimbabwe’s level of …

Johannesburg, South Africa | AFP | South Africa’s President Cyril Ramaphosa on Monday denied accusations that he ignored widespread looting and financial misconduct at a major retail bank that collapsed weeks after he came into office. VBS Mutual gained notoriety in 2016 when it lent scandal-tainted former president Jacob Zuma $540,000 …

Kampala, Uganda | ISAAC KHISA | The economies of the South must work together in order to deal with the uncertainties resulting from the current global trade environment, Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), said on Oct. 09 in Bali, Indonesia. Speaking during a Panel discussion on …

And the secret formula needed to accelerate GDP growth Kampala, Uganda | THE INDEPENDENT | Uganda’s economy is likely to grow by 6.5%, according to central bank governor Emmanuel Tumusiime Mutebile. That would be about 12% higher than last year and the highest rate in years. But there is a problem; …

Some have managed their debt levels, increased productivity, improved infrastructure, and reformed COMMENT | BERTRAND BADRE | Once again, the world’s emerging economies are facing a bout of uncertainty. Argentina, South Africa, and Turkey are among those generating the most concern, owing to a combination of questionable monetary policies and currency …