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 […]
Africa Cannot Grow Unless Nigeria Grows – World Bank
World Bank said it takes Nigeria as a “high priority” in its considerations on how to promote ideas and programmes that can aid development of the African region. The bank said it was looking forward to ways it can assist the Nigerian economy to grow faster and achieve developmental goals. World Bank vice president , […]
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 […]
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 […]
‘$1Trillion Stolen From Africa In 50 Years And Diverted To Western Countries Illegally’ – UN
According to the UN Economic Commission for Africa, about $1trillion has been stolen from Africa to western countries illegally. The UN Economic Commission for Africa (UNECA) says an estimated 50 billion dollars leaves the shore of the continent illicitly mostly to the Western countries, every year. Mr Adeyinka Adeyemi, a senior adviser at ECA, told […]
‘Infrastructural Transformation Is a Catalyst for Growth and Development’ – President Koroma
President Dr Ernest Bai Koroma today, Monday 29th May 2017, officially opened the Sierra Leone Development Finance Forum jointly organised by the World Bank and the Ministry of Finance and Economic Development held at the Bintumani International Conference Centre in Aberdeen, Freetown. The theme of the event; “Unlocking Private Investment in Sierra Leone” speaks to […]
How Ugandan MPs Rejected 15-Year Tax Waiver for Bujagali Energy Limited
At a meeting at State House Entebbe, MPs rejected a proposal by President Museveni to offer a 15-year corporation tax waiver for Bujagali Energy Limited (BEL), a 250-megawatt power-generating facility. Included in the Income Tax Amendment Bill (No. 2) 2017, the proposal sought to exempt Bujagali Hydro Power Project from paying corporation tax until 2033. […]
Africa Is Confident of the Future Yemi Osinbajo Tells G7
Africa is undeterred by the failures of the past and the continent is motivated by the incredible energy and talent of its bustling youthful population, according to Acting President Yemi Osinbajo. Mr. Osinbajo spoke Saturday at the G7 Summit special outreach forum on Africa with selected African nations and leaders including Nigeria, Guinea, Tunisia, Niger, […]
New World Bank Report Names Rwanda Among Most Resilient Economies
Rwanda and six other African countries have exhibited economic resilience in recent past that saw them post annual growth rate above 5.4 per cent in 2015-2017, according to a new World Bank report released yesterday. The six others include Côte d’Ivoire, Ethiopia, Kenya, Mali, Senegal and Tanzania, said the latest Africa’s Pulse, a bi-annual analysis […]
Ethiopian Govt Revokes Over 50 Mining Licences
Ethiopia has cancelled over 50 mining and explorations licences, official said. The Public Relation and Communications Director at the Ministry of Mines, Petroleum and Natural Gas (MoMPNG), Mr Bacha Faji, said the action followed the failure by several licence holders to commence operations on schedule. “We cancelled over 50 mining licences recently, mainly because the […]
