Finance - Page 6
Ethiopia: Nationwide housing project puts economy in danger
Ethiopian Ministry of Works and Urban Development (MoWUD)) this year suspended a number of affordable housing projects across the country with the exception of...
Nigeria: Central Bank governor faces harsh criticism after bank crackdown
Nigerian Central Bank governor has defended his largely criticized banking reforms that shook the country’s monetary sector and claimed the jobs of five bank...
Zimbabwe: Traditional chiefs fight with MPs over luxury cars for respect
Traditional leaders in the southern African country of Zimbabwe are demanding improved allowances and top of the range Mercedes Benz vehicles so as to...
Uganda: BoU Governor voices strong support for East African monetary union establishment
Preliminary consultative meetings with a broad spectrum of stakeholders on the proposed establishment of the East African Monetary Union (EAMU) ended in Kampala on...
Zimbabwe: Lawyers earn “starving wages”; Teachers’ wages to be frozen?
Government lawyers in Zimbabwe are earning “starvation wages” resulting in them compromising their professionalism. Justice Minister, Patrick Chinamasa said on average lawyers are earning...
Ethiopia: AACC urges gov’t to compensate businesses for Eritrean port losses
Addis Ababa Chamber of Commerce (AACC) has demanded that the Ethiopian government compensate businessmen who lost their properties at Eritrean ports during the border...
Zimbabwe: Tendai Biti reveals Mugabe’s monthly salary but his plan backfires
Zimbabwe finance minister Tendai Biti on Wednesday revealed President Robert Mugabe's monthly salary. But this was quickly dismissed by restless teachers as a mere...
Nigeria: Central Bank still chasing bank defaulters
The Nigerian Banking executives accused of perpetuating banking frauds worth billions of dollars have been put on the stands to defend their roles in...
Zimbabwe doctor strike ends, sacked GPs to reapply
Zimbabwean doctors who have been on strike for close to a month have
called off their strike, giving the government a one-month ultimatum to increase...
US Financial Firms profiting from Africa’s indebtedness and a shameful double standard
Financial firms in the United States are ripping off African countries and taking advantage of her indebtedness, according to a coalition of civil society...
Nigeria: Financial system under reconstruction
Nigerian state governors, company chiefs and business gurus face arrest and imprisonment should they fail to pay up their debts to troubled banks, as...
Zimbabwe still neck-deep in crisis
Zimbabwe’s fragile six month power sharing government is struggling to raise funds from international donors as they have so far pledged less than half...
Road to recession recovery: What about Africa?
Has the world economic crisis reached bottom or is Africa facing continued recession and deepening poverty? “No one can tell with any degree of...
Zimbabwe: Gono seeks to reintroduce Zim dollar to finance Zanu-PF activities?
Banks in Zimbabwe on Monday re-introduced foreign currency denominated
cheque's after they where scrapped at the height of hyperinflation last year.
This was another chapter to...
Life in African cities more expensive than San Francisco, Luxembourg, Brussels, Miami…
Mercer, a subsidiary of Marsh & McLennan Companies Inc, is a leading global consulting and human resources firm. By virtue of Mercer’s multinational consultancies,...
Africa and the G-20 promises: Deal or wishful thinking?
African countries are beginning to get some of the additional aid they need to survive the current global economic downturn. But there is considerable...
South Africa’s 1st post apartheid recession, a new President and an angry population
Strikes and demonstrations are on the increase in South Africa. After violent demonstrations from township populations, civil servants Tuesday continued demonstrations for a second...
Morocco and Swaziland Kings among the richest royals in the world
King of Morocco, Mohammed VI, 46, in 2008 held the seventh position among the richest royals in the world, according to Forbes magazine's top...
Zimbabwe: Civil servants get salary hikes
Civil Servants in Zimbabwe, the bulk being teachers, will from Monday
start receiving proper salaries instead of allowances as the bankrupt inclusive government said its...
Africa’s slow growth pace and a vicious cycle since independce
About 80% of financial aid to Africa is sent back into Western bank accounts of Africa's dictators and corrupt leaders. In 2004 about $94...
Dambisa Moyo: The difference between China and Africa
About three trillion dollars have been donated to Africa over the past sixty years. In the 1970's, less that 10 percent of Africa's population...
Needy Zimbabwe held hostage by Chinese loan over multi billion dollar resource
Zimbabwe and China have inked a controvesial US$5 billion deal that has mortgaged the country's platinum resources worth US$40 billion. China is set...
Zimbabwe: While IMF waits, Commonwealth zooms in
The International Monetary Fund (IMF) is demanding that the cash-strapped Zimbabwe pay up its debt of $1bn, before it could loan the country any...
Commonwealth to drum up aid for Zimbabwe
Zimbabwe could bounce back to the Commonwealth family as the grouping would next week in Johannesburg hold a roundtable meeting to drum up humanitarian...
Zimbabweans abandon banks after Gono’s disastrous policies
Zimbabweans have little trust in the local banking sector as they continue to keep money away from banks as memories of them losing their...
Ethiopia: Indian bank to open African office in Addis
The Export and Import Bank (EXIM) of India has been negotiating with officials of the Ethiopian government to open its East African branch in...
CDC commits US$50m to Nigeria and West Africa fund
CDC Group plc (“CDC”), the UK’s development finance institution, is committing US$50m to African Capital Alliance’s (“ACA”) Private Equity Fund III (“Cape III”), CDC’s...
Ethiopia: Foreign travels by government officials restricted
A budget proposal prepared by the Ministry of Finance and Economic Development (MoFED) of Ethiopia has rejected foreign trip budget requests of all federal...
France to renegotiate Zimbabwe debts
France, yesterday, said it is willing to cancel Zimbabwe's Paris Club debt but there should be strong indications that it will channel the money...
Zimbabwe state media derides Tsvangirai’s aid seeking tour
Zimbabwe's government has raised more than $180 million from donors in
Europe to help pull the southern African nation out of a decade-long recession.
Finance Minister...