Finance

jpg_libertad.jpg

Argentine orders the evacuation of Libertad ship by Ghanaian authorities

The navy training ship seized by the Ghanaian authorities earlier this month has received orders to evacuate the over 300 sailors on board. The...
France provides financial aid to DR Congo to assist the homeless persons

France provides financial aid to DR Congo to assist the homeless persons

France has provided a financial aid of one million Euros to the World Food Programme (WFP) in order to support emergency operations in the...
Zambia: President accused of bill amendment to get money

Zambia: President accused of bill amendment to get money

President Rupiah Banda of Zambia is concerned with his bank balance and has embarked on a campaign that would ensure a comfortable pension as...
Finding Gaddafi’s hidden fortune

Finding Gaddafi’s hidden fortune

The Gaddafi clan's opaque financial empire has been ingeniously created by virtue of a complex fragmentation of accounts and investments; A strategy designed to...
Ethiopia, Nigeria, DRC to get increased aid from UK

Ethiopia, Nigeria, DRC to get increased aid from UK

Ethiopia, Nigeria, and the Democratic Republic of Congo will receive more direct development aid from the United Kingdom as the aid to other countries...
Egypt and Tunisia: Economic turmoil after revolution?

Egypt and Tunisia: Economic turmoil after revolution?

Shortly after revolting against their autocratic leaders, Tunisians and Egyptians are droning in the aftermath of their uprisings. The political uncertainty in Tunisia after...
Crisis hits Ivory Coast economy

Crisis hits Ivory Coast economy

Laurent Gbagbo, one of the two presidents of the Ivory Coast, has accused Washington of supporting his rival, Alassane Ouattara. He has also accused...
Africa: A man without a job has no status

Africa: A man without a job has no status

For 17 years Peter worked as a machine operator in a South African textile plant. It was not high-paying work, but it paid the...
Mubarak’s billions and a lot of hungry Egyptians

Mubarak’s billions and a lot of hungry Egyptians

President Hosni Mubarak and his family could own as much as 70 billion U.S. dollars in assets against a backdrop of millions of hardworking...
Ivory Coast: A battle over financial signature

Ivory Coast: A battle over financial signature

Philippe-Henri Dacoury-Tabley, Governor of the Central Bank of West African States (BCEAO), was forced to resign over the weekend by the Conference of Heads...
Ethiopia: Devalutation and speedy growth breed economic chaos?

Ethiopia: Devalutation and speedy growth breed economic chaos?

Ethiopian Government and entrepreneurs seem to have found a common ground to find a solution to a recalcitrant double digit inflation after the former...
Zimbabwe workers set to cripple fragile economy

Zimbabwe workers set to cripple fragile economy

Zimbabwean civil servants who number more than 200 000 have issued a seven day ultimatum to the crisis ridden inclusive administration over salaries. Zimbabwean civil...
Piracy in Somalia and Nigeria cause collapse of financial institutions

Piracy in Somalia and Nigeria cause collapse of financial institutions

Somalia, Nigeria and the Gulf of Guinea, and the Malacca Straits cost the Global economy about $12 billion a year from piracy operations, experts...
Africa’s MDG Quagmire: Moving beyond the goals

Africa’s MDG Quagmire: Moving beyond the goals

The Millennium Development Goals are likely to remain important for the long-term task of eradicating poverty beyond 2015. But development policy is being challenged...
Nigeria: Funds from China fuel China-Africa debate

Nigeria: Funds from China fuel China-Africa debate

Nigeria has embarked on improving its infrastructure by securing funds from China to finance rail and communication projects despite mixed reactions towards China’s growing...
Nigeria: Charges against former US Vice President dropped

Nigeria: Charges against former US Vice President dropped

Talks between high-ranking officials from energy firm Halliburton and Nigerian government officials over charges of bribery brought against former U.S. Vice President Dick Cheney...
Millions in Tanzania and Malawi using mobile phone banking

Millions in Tanzania and Malawi using mobile phone banking

In African countries such as Tanzania and Malawi, mobile telephones are taking a first step into the formal financial system. Almost 1 million active...
African entrepreneurship and private equity gather international interest

African entrepreneurship and private equity gather international interest

“From that very modest beginning, he has had a series of steppingstones where one thing has led to another. Now Austin’s company has revenues...
What the World Bank should know about Ghana’s Success Stories

What the World Bank should know about Ghana’s Success Stories

Two decades ago, the rest of the world saw Africa as a hopeless continent. Today Ghana is one of Africa's success stories. Its...
Nigeria: Oil companies, Shell and Halliburton, to be questioned

Nigeria: Oil companies, Shell and Halliburton, to be questioned

Nigeria's anti-graft Economic and Financial Crimes Commission (EFCC) have summoned Royal Dutch Shell PLC and oil service firm Halliburton for questioning after the oil...
Zimbabwe’s “juice card” economy

Zimbabwe’s “juice card” economy

After announcing to Zimbabweans in 2009 that cigarette and alcohol taxes had sustained their crumbling economy, despite the country's vast untapped diamond reserves, Finance...
Zimbabwe: Tendai Biti cuts Mugabe’s election budget request

Zimbabwe: Tendai Biti cuts Mugabe’s election budget request

Crucial elections in troubled Zimbabwe are now closer to reality after Finance minister Tendai Biti on Thursday, November 25 set aside under Treasury an “unallocated contingency...
South Africa’s cabinet wage bill at all time high

South Africa’s cabinet wage bill at all time high

An Independent Commission for the Remuneration of Public Office Bearers is awaiting Jacob Zuma’s approval after recommending that South African Vice president Kgalema Motlanthe’s...
Nigeria: Unions fight to raise minimum wage

Nigeria: Unions fight to raise minimum wage

Nigeria’s labor and trade union are demanding a monthly minimum wage of $120 because prices of commodities have risen abruptly in the country. The...
South African incomes not reflecting economic growth

South African incomes not reflecting economic growth

An income level study done in South Africa has shown that a majority of adults earn below R50 000 a...
Marshal-Plan for Africa after “colonial rape”?

Marshal-Plan for Africa after “colonial rape”?

Africa deserves a version of the Marshall Plan, reconstruction and assistance, similar to that given to postwar Europe, after the years of "colonial rape"...
Ethiopia: High remittance figures from World Bank ridicule national statistics

Ethiopia: High remittance figures from World Bank ridicule national statistics

The World Bank has challenged the National Bank of Ethiopia’s remittance inflow figures after a recent study indicated that the country receives at least...
Malawi: French style retirement reform causes chaos

Malawi: French style retirement reform causes chaos

What age should one retire? This seems to be a current contentious topic both in Africa and Europe and dominating media space. In Malawi,...
A Snap shot of the World Bank and IMF Annual Meetings:  How to achieve a world without poverty!

A Snap shot of the World Bank and IMF Annual Meetings: How to achieve a world without poverty!

The World Bank and the IMF have not had many friends in the developing world since post-Structural Adjustments days, when their advice and interventions,...
Ethiopia gets multi-million dollar funding for agriculture sector

Ethiopia gets multi-million dollar funding for agriculture sector

The Board of Directors of the World Bank has approved a 150 million dollar fund to Ethiopia. The fund aims to support and increase...