Finance - Page 8
Morocco: Natural gas discovery to ease strain on budget
The National Office of Hydrocarbons and Mines (ONHYM) confirmed, Tuesday, the discovery of two offshore reserves of natural gas in Morocco.
The finding of...
Ethiopia: Financial crisis hit major roads development
China Road and Bridge Corporation (CRBC) Addis Engineering Plc, a subsidiary of the Chinese government construction company based in Ethiopia, has halted construction on...
France gets Ivory Coast relief package through IMF
With an immense support from France, the Ivory Coast has been set Debt Free by the International Monetary Fund. The sum of $3...
Zimbabwe PM makes shock financial plea at SADC summit
Zimbabwe has upped its financial aid package to $8-10 billion as it strives to rebuild the country's devastated economy. The shock...
Mining in Africa: Defying the laws of profits… to lose
Non Governmental Organisations have just published a report from a study conducted on some of the fiscal irregularities of mining companies and mineral rich...
Zimbabwe: Towards another dire financial paradigm
President Robert Mugabe has appealed for international assistance to rebuild his self-battered country. Many aid activists are already salivating to this rapprochement from...
Meles Zenawi optimistic about Ethiopian flower industry
Ethiopian flower producers and exporters have used their exhibition, which opened Wednesday, to call on Ethiopian, Prime Minister Meles Zenawi, to urge state owned...
Zimbabwe gets a grip on runaway hyperinflation
Zimbabwe’s hyperinflation, said by some analysts to have been the worst ever experienced, came to a shuddering halt in January when consumer prices tumbled...
Zimbabwe: IMF fact finding report could deal a fatal blow
The International Monetary Fund fact finding mission concluded their task last night in Harare amid speculation that their report is not favorable for Zimbabwe.
The...
G-8 countries take a machiavellian approach to crisis…
G-8 countries are taking a protectionism approach to tackle the Global economic turmoil. The politics of Realism and social Darwinism may be utilized by...
Africa: Banks take a new interest in women
“We are not waiting. We are moving,” says Pilda Modjadji, a founding member of the Pankop Women Farmers Forum in Mpumalanga, South Africa. “We...
Nigeria Central Bank battles to rescue local currency
The Nigerian government is taking measures to save the Country's currency from further nosediving against the U.S dollar as Nigerians lament on the hardship...
Zimbabwe: Biti evasive as teachers threaten strike
Zimbabwe’s teachers have threatened a fresh work boycott unless the country’s new government agrees to pay them more than the US$100 allowance paid to...
Zanu-pf officials defy Tsvangirai and Mugabe warnings
A fresh wave of farm invasions in Zimbabwe could reduce chances of the visiting International Monetary Fund (IMF) delegation from producing a favourable report...
Profiting from the global economic meltdown
The Chinese word for “crisis” (wei ji) is made up of two characters, notes Senegalese economist Moustapha Kassé. One means “danger”; the other, “opportunity.”...
Poor African Billionnaires: Egypt, Nigeria, South Africa
Billionaires all right, but less well-off. Their wealth, which represented $4.4 trillion in 2007, decreased by almost 50% at the end of last year....
African commercial banks get a “bail-out” fund
African commercial lenders and central banks will be able to access an emergency $1.5bn “bail-out” facility set up by the African Development Bank in...
3rd Wave of global crisis threatens African growth
Economic growth in sub-Saharan Africa is set to halve from the average of the past decade to just over 3 per cent in 2009...
Zimbabwe: IMF goes on a fact-finding mission
The International Monetary Fund (IMF) fact-finding mission would be dispatched to Harare next week for a seris of consultations.
The fund was last in Harare...
African economies more resilient to the global crisis?
When several US investment houses collapsed last September, unleashing a chain of crashes in major markets around the world, brokers at Kenya’s Nairobi Stock...
Morocco embarks on financial aid project to poor families
An unprecedented financial aid scheme to encourage mass education under the framework of the “Tayssir” proposal has been initiated in Morocco. Some 38,000 families...
Meles Zenawi’s new fiscal policy: No more borrowing
Although Ethiopia faces a burdensome foreign reserve crisis with current reserves barely enough to cover a little over a month, the country's Prime Minister,...
Controversial plan to promote Nigeria or the Jackson 5?
A controversial facelift of the historic slave port of Badagry, Nigeria, consisting of a museum dedicated to double Grammy-winning pop-soul group, the Jackson Five,...
Nigeria Central Bank allays foreign exchange fears
Charles Soludo, the governor of the Central Bank of Nigeria, defended new foreign exchange controls on Wednesday as a “temporary measure”. However, he sought...
Gov’t intervention in Nigerian banks – A misguided economic folly
Last year, the chief executive officers of Nigerian banks asked the federal government to intervene in the nation's financial sector in order to minimise...
South African rand now the new Zimbabwean dollar
South African President Kgalema Motlanthe has said troubled Zimbabwe could adopt the South African rand as its standard currency."We have to help them so...
No escape for S. Africa: Recession and 250,000 job cuts
South Africa’s president warned on Friday that the economy was being badly hit by the global slowdown and outlined plans to increase public investment...
Zimbabwe MPs put further strain on dollarised budget
Hard-hit Zimbabwean taxpayers will have to fork out a whopping US$2 million on imported vehicles for the country’s legislators. New MPs and senators in...
Multiple zeroes off Zim currency yet foreign currency thrives
Zimbabwe's central bank has knocked 12 zeros off the local currency - reducing one trillion dollars to one dollar - and introduced seven new...
Gideon Gono engulfed in another embarassing scandal
Gideon Gono, the Reserve Bank of Zimbabwe boss has again been fingered in an embarrassing financial scandal as it has emerged that he gave...