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World Bank President Jets in to Kickoff Ubungo Intersection Construction

World Bank President Jets in to Kickoff Ubungo Intersection Construction

THE World Bank (WB) Group President, Dr Jim Yong Kim, is expected to arrive in the country today for a three-day official visit, in which he will hold talks with President John Magufuli on robust development projects that are expected to be funded by WB. During his visit, Dr Kim will meet Dr Magufuli to […]

“USD stocks continues to decline”

“USD stocks continues to decline”

USD stocks are dwindling at what I would call “running out at Boltspeed”. It is observable that the worst is likely to continue worsening. In my view, the situation we are in is a testament to the validity of two theories: 1. Force of demand and supply- if the wider market prefers USD to bond […]

Seychelles to Issue Blue Bonds Worth U.S.$15 Million to Benefit Fisheries Industry

Seychelles to Issue Blue Bonds Worth U.S.$15 Million to Benefit Fisheries Industry

The government of Seychelles plans to issue a blue bond valued at $15 million over 10 years with guarantees from the World Bank and the Global Environment Facility to support the transition to sustainable fisheries. The Seychelles blue bond project, which was one of three projects selected to be presented at The Economist World Ocean […]

U.S.$ Disappears From Zimbabwe’s Banking System

U.S.$ Disappears From Zimbabwe’s Banking System

Transactional activity in Zimbabwe in recent weeks indicates a slow disappearance of the United States dollar, which is being replaced by bond notes. The bond notes were introduced last year under the $200 million export incentive to supplement dwindling dollar supplies due to weak exports. A survey by Standardbusiness in the central business district last […]

Barclays Africa – Split Won’t Change Activities in Tanzania

Barclays Africa – Split Won’t Change Activities in Tanzania

Barclays Africa Group does not foresee changes in its operations in Tanzania and in Africa in general as it proceeds with separation process from its UK parent company whose terms have been agreed subject to regulatory approval. Barclays Africa Group which holds majority stakes in Barclays Bank Tanzania and NBC Bank, announced yesterday it had agreed […]

President Robert Mugabe has hinted that he would prefer rand as currency

President Robert Mugabe has hinted that he would prefer rand as currency

President Robert Mugabe has hinted that he would prefer the adoption of the rand in Zimbabwe despite the reluctance to adopt the currency from his government. Mugabe, who turned 93 on Tuesday, said in a televised interview to mark his birthday that he had asked Finance Minister Patrick Chinamasa and central bank governor John Mangudya […]

The Islamic Corporation for the Development of the Private Sector (ICD) and International Association of Islamic Business (IAIB) sign a MoU to cooperate in the development of private sector

The Islamic Corporation for the Development of the Private Sector (ICD) and International Association of Islamic Business (IAIB) sign a MoU to cooperate in the development of private sector

The Islamic Corporation for the Development of the Private Sector (ICD) , the private arm of Islamic Development Bank Group (IDBG), and International Association of Islamic Business (IAIB), signed a Memorandum of Understanding (MoU) to explore possible avenues for collaboration in enhancing business relations between entrepreneurs from Islamic countries and Russian Federation. The two institutions […]

Reserve Bank of Zimbabwe Governor John Mangudya’s Roadmap Faces Hurdles

Reserve Bank of Zimbabwe Governor John Mangudya’s Roadmap Faces Hurdles

Economic measures put in place by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya to drive economic growth will come to nothing in the absence of structural reforms, analysts have warned. In his monetary policy statement released last week, Mangudya announced a raft of measures that included, among others, the extension of the $200 million […]

Newly formed investment company, Arise is set to boost Ghana’s banking sector after acquiring 27.7 % stake in CAL Bank in Ghana

Newly formed investment company, Arise is set to boost Ghana’s banking sector after acquiring 27.7 % stake in CAL Bank in Ghana

The recent acquisition of a 27.7 % stake in CAL Bank in Ghana by newly formed investment company, Arise is set to boost the banking sector in the country. The shareholding in CAL Bank was acquired by Arise from DPI, a leading Africa-focused private equity firm with assets in excess of US$1 billion under management. […]

Zambia Hails European Bank’s Plans to Open Office

Zambia Hails European Bank’s Plans to Open Office

The Zambian government said Tuesday that the plan by the European Investment Bank (EIB) to set up an office in the country was a clear endorsement by Europe that Zambia was one of the best investment destinations in Africa. Minister of Finance Felix Mutati, who has just returned from a tour of some European countries […]

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