Kenya’s current account deficit widens to 7.7 percent in February

Kenya’s current account deficit widened to 7.7 percent of GDP in February from 5.9 percent the same time a year earlier, the finance ministry said on Tuesday. The Treasury blamed a 5.6 percent fall in the value of exported goods and services. Combined with other unspecified income drops, the fall more than offset a 4.5 […]

Zambian Central Bank cuts key rate as food prices set to fall

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Benchmark policy rate is now at lowest level since 2015 Inflation was unchanged at 6.7% in April, lowest since 2013 The Bank of Zambia reduced its benchmark rate for the second straight time since its introduction five years ago as good rains improve prospects for lower food prices in coming months. The central bank cut […]

Banks depict South African Rand probe as vague, embarrassing

Some of the banks accused of manipulating trades in the rand are objecting to the complaint by South Africa’s Competition Commission, calling it vague and embarrassing, and demanding it be amended or dropped “The commission has failed to plead the material facts necessary to sustain the allegation that there was an agreement, or agreements,” between […]

Zambia expects $1.6 billion IMF deal to be sealed before July

Zambia will conclude a deal with the International Monetary Fund for as much as $1.6 billion by the end of June, Finance Minister Felix Mutati said. “We will conclude by the end of the second quarter,” Mutati said in an interview Wednesday in Nairobi, the Kenyan capital. “There is no question on whether the deal […]