AFRICA

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Kenya’s central banker warns about impact of illicit flows

Kenya needs to urgently stamp out an upsurge of suspicious transactions in its financial sector that imperil future commercial activities and economic growth, Patrick...

Canada pledges $1.1 billion in callable capital support to AfDB

Canada announced a $1.1 billion commitment in temporary callable capital to support the African Development Bank (AfDB). The announcement is subject to approval by the...

South Africa’s rand hits 2-year low

South Africa’s rand plunged to a 2-year low against the dollar in early trade on Monday and government bonds weakened sharply as a renewed...

China trade week opens in Kenya amid deepening economic ties

The fifth edition of China Trade Week Kenya has opened in the Kenyan capital city of Nairobi as more than 500 exhibitors showcased high-end...

Half of South Africa’s stimulus plan to come from spending shift

South Africa’s shifting budget priorities will provide roughly half of the 50 billion rand ($3.5 billion) in stimulus spending it plans to make by...

Mobile cash transfer services on the rise throughout Africa

The rise of mobile cash transfer services throughout Africa has provided people living in rural areas with a reliable and efficient way to send...

South African president rules out SAA closure

South African President Cyril Ramaphosa has ruled out the closure of the country’s national carrier South African Airways over its financial woes. Addressing parliament on...

Eskom split will minimise risks to economy, Ramaphosa

South Africa’s President Cyril Ramaphosa said on Thursday that his government’s plan to split struggling state power firm Eskom into three entities would reduce...

BRICS development bank approves $790 million funding for South African projects

The development bank of the BRICS group of emerging economies has approved funding of $790 million for three South African projects, the bank’s president...

Tanzania’s economic growth slows in first quarter

Tanzania's economic growth slowed to 6.6% year-on-year in the first quarter of 2019 from 7.5% in the same period a year earlier, official data...
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