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Trump hits Zimbabwe, ED, with tough US sanctions

Trump hits Zimbabwe, ED, with tough US sanctions

WASHINGTON: The United States of America President Donald Trump has signed into law the Zimbabwe Democracy and Economic Recovery Amendment Act. The Bill was passed by the United States Congress in July and sets tough conditions for Zimbabwe to re-engage with the United States of America. The Zidera act means that Zimbabwe’s economy is likely […]

African Banks Consider Chinese Yuan, But Risks Loom

African Banks Consider Chinese Yuan, But Risks Loom

More than a dozen African countries have been weighing the merits of adding the Chinese yuan to their mix of foreign reserves, discussing the idea at a gathering of officials last month in Harare, Zimbabwe. Adopting the yuan, also known as the renminbi, or RMB, would make it easier for African countries to pay back […]

Give President George Weah a Chance!

Give President George Weah a Chance!

Much has been said about the controversial loan scheme undertaken by the Weah Administration to finance road development projects in the country. Many have argued that the loans were contracted out of the well-known channels of the Bretton Woods Twins, the IMF and World Bank. But it is possible we could be running too fast […]

Zimbabwe Informal Sector 6th Biggest in Africa

Zimbabwe Informal Sector 6th Biggest in Africa

Zimbabwe’s informal sector could be the sixth largest in the Sub-Saharan region, contributing between 40 percent and 50 percent to economic growth — an estimated $7 billion — especially for the four-year period between 2010 and 2014, according to the latest International Monetary Fund (IMF) working paper. The country’s gross domestic product (GDP), which measures […]

Mining Rot – Can Magufuli Shake the Dust Off Ruling Party?

Mining Rot – Can Magufuli Shake the Dust Off Ruling Party?

As Tanzanians grapple with what exactly to make of the findings of two presidential committees tasked with investigating the mineral concentrates saga, the spotlight is now on the pair of hands that are accused of signing the bad deals that have caused the Treasury shocking losses in potential revenue. That Tanzania has had a raw […]

World Bank approves $500 million loan for Tunisia

World Bank approves $500 million loan for Tunisia

The World Bank on Tuesday approved a $500 million loan to support Tunisia’s budget, a government official for the North African country said on Tuesday. The funding followed the release by the International Monetary Fund of a delayed $320-million tranche of Tunisia’s IMF loan, after the government agreed to speed up economic reforms. Praised as […]

Rwanda Development Board Projects Tourism to Fetch Rwf370 Billion in 2017

Rwanda Development Board Projects Tourism to Fetch Rwf370 Billion in 2017

Rwanda Development Board (RDB) has projected that the tourism sector will fetch about $444 million (about Rwf370 billion) in 2017, up from $404 million last year. The increase in revenue banks on continued tourism promotion efforts as well as the Meetings, Incentives, Conferences, Events and Exhibitions (MICE) strategy. Clare Akamanzi, the chief executive of RDB, […]

Mozambicans Pay Dearly for a President’s Financial Mistake

Mozambicans Pay Dearly for a President’s Financial Mistake

Diagnosed HIV-positive two years ago, Kayana Kandagona* suffers regular episodes of dizziness. However, this is not the cause of the 34-year-old’s anxiety as she waits for a routine appointment at a faith-based organisation’s outpatient clinic in the Mozambican capital, Maputo. Cradling her three-month-old HIV-negative daughter she explains that her 12-year-old daughter and 10-year-old son are […]

Tanzania Has 200 New Dollar Millionaires

Tanzania Has 200 New Dollar Millionaires

Tanzania created 200 new dollar millionaires in 2016, a new report shows, sending out a picture that the government’s cost cutting measures have had little impact on individuals’ wealth creation endeavours. Knight Frank’s 2017 wealth report shows that the number of super rich Tanzanians jumped from 2,200 in 2015 to 2,400 in 2016. This happened […]

Bad News – International Monetary Fund Is Back

Bad News – International Monetary Fund Is Back

Lagarde is visiting when the government is desperate for new money but in no mood to listen. Usually that means no deal but possibly not when the IMF and Museveni need each other. Meetings between teams from IMF and planners of Uganda’s economy, especially President Yoweri Museveni, have historically involved divergent perspectives but common goals. […]

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