Namibia GDP growth seen accelerating to 2.2% this year- finance minister

Calle Schlettwein, Namibia’s finance minister said on Friday that the country’s economic growth is expected to accelerate to 2.2 percent this year from an estimated 1.6 percent growth in 2016, supported by higher commodity prices. “We expect improvement due to rising commodity prices although some of the revenue increases might be offset by an (unfavourable) exchange […]

South African rand, bank stocks rally on hopes of Ramaphosa victory

South African assets rallied early Monday as investor hopes grew that pro-reform candidate Cyril Ramaphosa was likely to have secured a victory in the ruling ANC’s knife-edge leadership contest. According to Financial Times (FT) report, the rand suffered a bumpy start to the day as it became clear that the vote would go down to […]

End in sight for year-long ‘dry spell’ of cashless economy in Zimbabwe

Some Zimbabweans were able to withdraw U.S. dollars from automated teller machines this week for the first time in about a year as hard currency started trickling back into the economy following Robert Mugabe’s ouster as president. Banks, according to Bloomberg’s report, had stopped stocking ATMs about a year ago as a severe cash shortage […]

Zimbabwe’s new president vows to rejuvenate economy, seeks lifting of sanctions

Zimbabwe's new interim President Emmerson Mnangagwa gives an address after his swearing-in ceremony in Harare on Friday, marking the final chapter of a political drama that toppled his predecessor Robert Mugabe after a military takeover.

Emmerson Mnangagwa, Zimbabwe’s new president Friday rallied all Zimbabweans to unite and work together to revive the battered economy. In his inaugural speech soon after being sworn in as president, Mnangagwa said his government would prioritize economic revival to create jobs and a better life for Zimbabweans who have endured more than a decade of economic […]

Africa accounts for 37% of global aviation fatalities, AfDB reveals

Akinwumi Adesina, President, African Development Bank (AfDB), says the African aviation sector accounts for about nine percent of aircraft accidents yearly and 37 percent of aviation fatalities globally. The president revealed that while speaking with the News Agency of Nigeria (NAN) in Abuja, adding that, though the sector, ranked globally fared in 2016, it still […]